Dow Jones futures will open on Sunday evening, along with S&P 500 futures and Nasdaq futures.
The stock market rally paused in a holiday-shortened week. The major indexes retreated modestly but held key levels even as Federal Reserve policymakers signaled big rate hikes are likely for several more meetings. But it’s unclear if the recent market action was bullish or bearish.
Investors can have slim-to-modest exposure, but need to be ready to step back.
Apple holds its annual Worldwide Developers Conference this coming week. Apple (AAPL) will show off its latest operating system changes. There’s buzz that Apple WWDC will reveal an NFL streaming package. Still, Apple stock fell solidly on Friday, closing lower for the week.
Tesla stock tumbled on Friday and for the week as Tesla CEO Elon Musk reportedly wants to cut 10% of salaried jobs amid a “super bad feeling” about the economy.
Beyond the Tesla (TSLA) move itself, it’s a reminder that volatile, highly valued growth names can make big moves off the bottom, but also sell off hard.
Northrop Grumman (NOC), Dollar Tree (DLTR), Flex LNG (FLNG), Albemarle (ALB) and ZIM Integrated Resources (ZIM) are five stocks trading near buy points. All have relative strength lines at or near highs, a bullish sign. The RS line, the blue line in the charts provided, tracks a stock’s performance vs. the S&P 500 index.
NOC stock and Albemarle are on IBD Leaderboard. ZIM stock is on the IBD 50. The video embedded in this article discussed the market rally action this week and analyzed Northrop, DLTR stock and ALB stock.
Dow Jones Futures Today
Dow Jones futures open at 6 p.m. ET on Sunday, along with S&P 500 futures and Nasdaq 100 futures.
Remember that overnight action in Dow futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.
Join IBD experts as they analyze actionable stocks in the stock market rally on IBD Live
Stock Market Rally
The stock market rally…
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