Dow Jones Futures: Market rally resilient; Apple, Tesla, These 5 Chip Stocks Could Use It

Dow Jones futures will open on Sunday evening along with S&P 500 futures and Nasdaq futures. The stock market rally had a generally positive week, with Nasdaq and small caps leading the way.


But the market rally showed resilience amid some mixed headlines, with major indices at resistance levels following recent strong gains.

Berkshire Earnings

Berkshire Hathaway ,BRKB) operating income increased 39% from a year ago to $9.28 billion. But Warren Buffett’s group suffered a net loss of $43.8 billion. This reflects a loss of $53 billion in investments amid a falling stock market in June.

Berkshire only bought back $1 billion in its own stock in Q2, down from $3.2 billion in Q1. Instead, Berkshire is loading Occidental Petroleum ,oxy,

Buffett’s firm still had $105.4 billion in cash at the end of June, compared to $106.3 billion in cash at the end of March.

BRKB stock fell 2.8% last week to 292.07, trading between its 200-day and 50-day lines. Berkshire’s stock has bounced back from its June lows, but is still well off its peak of 362.10 in late March.

Chip stocks are gaining momentum, which is a positive sign for any market rally. monolithic power systems ,MPWR, KLA ,clutch, analog device ,ADI, Exelis Technologies ,ACL) And All of them ,Feather) are underway, but are currently in No Man’s Land, expanded from early entries but below traditional buy points,

Apple ,AAPL) is probably still in the early entry range, but investors will want to wait to see if AAPL stock can handle that.

Tesla stock sold out on Friday, but the EV giant needs to take a break. Meanwhile, the California DMV has alleged Tesla ,TSLAFalse advertising promoting autopilot and full self-driving.

eventually, Celsius ,cellho) The heat test came after huge gains in recent days and weeks. With earnings on tap Tuesday, what should investors do with CELH stock?

MPWR stock is on IBD Long-Term Leader, KLAC stock is on the Long-Term Leaders Watchlist. CELH Stock, Exelis Technologies, Onesemi, KLA and Monolithic Power are all operational IBD 50, ADI are on stock, onsemi and monolithic power IBD Big Cap 20, ACLS stock was Friday’s IBD Stock of the Day. Monolithic Power and On Stock was the first day of the week stock.

The video embedded in this article discusses and analyzes market action Vertex Pharmaceuticals ,VRTX, EQT ,EQT) and ACLS stock.

dow jones futures today

Dow Jones futures open Sunday at 6 p.m. ET, along with S&P 500 futures and Nasdaq 100 futures.

Remember that overnight action dow futures and nowhere else necessarily translates into actual business in the next routine Share Market session.

Join IBD experts as they analyze stock market rally actionable stocks on IBD Live

stock market rally

The Dow Jones Industrial Average fell 0.1% over the past week stock market trading, The S&P 500 index rose 0.4%. The Nasdaq Composite rose 2.15 per cent. The small-cap Russell 2000 advanced 1.9%.

The 10-year Treasury yield jumped 20 basis points to 2.84%, including 16 basis points on Friday hot jobs report, The likelihood of a 75-basis-point Fed rate hike on September 21 rose from about 40% to two-thirds of the employment figures.

US crude futures fell 9.7% for the week to $89.01 a barrel, hitting their lowest level since Russia’s invasion of Ukraine in late February.

in the middle Best ETFsThe Innovator IBD 50 ETF (ffty) jumped 2.9% last week, while the Innovator IBD Breakout Opportunities ETF (boxing) fell 0.7%. iShares Extended Tech-Software Sector ETF (tub) jumped 3.7%. VanEck Vector Semiconductor ETF (smh) grew 2.7%.

SPDR S&P Metals & Mining ETF (XME) climbed 0.5% last week. Global X US Infrastructure Development ETF (expansive) up 0.15%. US Global Jets ETF (jet) rose 3.2%. SPDR S&P Homebuilders ETF (XHB) is up 0.2%, marking the seventh consecutive weekly advance. The Energy Select SPDR ETF (XLE) fell 6.8% and the Financial Select SPDR ETF (45) dropped 0.1%. Health Care Select Sector SPDR Fund (xlv) retreated 0.7% despite strength in the biotech.

Reflecting the more speculative story stocks, the ARK Innovation ETF (arkk) nearly 11% higher last week and the ARK Genomics ETF (ARKG) 10.5%. Tesla stock remains a major holding in Arch Invest’s ETF.

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chip stock

Monolithic Power stock rose nearly 15% to 532.33 last week on strong earnings. Perhaps investors could buy MPWR stock at the margin on Aug. 2 earnings, as it cleared some other resistance areas. But as of Friday’s close, the monolithic stock was up 17% from its 200-day line and 24% above its 50-day line. relative strength line is already at higher levels, indicating an outperformance of the MPWR stock versus the S&P 500 Index. The stock has a 580.10 buy point from the consolidation going back to the end of November. But ideally, the shares will stop and form a handle. This will offer short entry as well as allow the moving average to hold some ground.

It’s the same story for Exelis, Onesemi and KLAC stocks, all of which reported earnings in the past two weeks, and have now extended below the traditional breakout from the moving average. ADI stock remains largely the same, although Analog Devices’ earnings are on tap as of Aug.

apple stock

Apple stock rose 1.75% to 165.35, its fifth consecutive weekly gain. Investors could buy AAPL stock as it cleared the 200-day line on July 29 following earnings call. It is still arguably actionable as an early entry, up 3.7% above the 200-day line. The RS line is already high for Apple stock. The official buy point is 183.04, but a handle at current levels or slightly higher would be attractive.

Tesla Stock

Tesla stock fell 6.6% on Friday to 864.51, down 3% for the week as it erased a seven-day winning streak. This pushed the shares below the 200-day line. But if TSLA stock can linger around current levels for a few days, a rise above Thursday’s high of 940.82 could offer an aggressive entry. This would be too little for a traditional handle.

Shareholders approved a 3-for-1 stock split Thursday night at Tesla’s annual meeting, though it had been expected for months. CEO Elon Musk spoke extensively on Tesla’s prospects, but didn’t say anything dramatic. Elon Musk’s ongoing Twitter saga could be weighing on TSLA stock.

Legal experts say Twitter ,TWTR) has a strong case that Musk should move forward with his $54.20-share acquisition deal. The Musk-Twitter trial will take place in October. Amid the latest legal filing, TWTR stock rose 3.6% to 42.52 on Friday, reclaiming the 200-day line and hitting its best level in nearly three months.

Meanwhile, the California Department of Motor Vehicles on July 28 accused the EV giant of misleading customers about the capabilities of Autopilot and FSD, according to a filing first reported by the Los Angeles Times. But if the state DMV wins its action, it’s likely Tesla will need to revise its advertising and marketing.

Tesla Vs. BYD: The Fast-Growing China EV Giant Is Going Global

Celsius Stock

Celsius stock has fallen heavily since it exploded above the 200-day line on July 5. On August 1 the news came that PepsiCo ,Excitement) was taking a major CELH stake and would be the major distributor for the energy drink maker.

On Friday, CELH stock fell 9% to 98.62, though it bounced off its 10-day line and still jumped nearly 11% for the week. The Celsius Small-Cap will move from the S&P 600 to the S&P Midcap 400. But fewer mutual funds and ETFs track the S&P 600 versus midcap funds, so the result is that fewer index funds can own CELH stock. Plus, the energy drink leader monster drink ,MNST) fell 5% on Friday on weak earnings.

Celsius earnings are due on Tuesday, so investors have to make a decision. If you bought CELH stock around the 200-day or resistance level of 72, you still have a lot to offer. You can choose to lock in some partial profits. For those who have bought Extended, let’s say on Monday’s Pepsi News, you may have a little rest or are sitting at a loss as a result. Celsius stock leads a lot on earnings.

Top 5 stocks to watch: Biotech’s earnings boom

market rally analysis

It has been a mixed week for the stock market to rise. Growth stocks and small caps led the way, while the Dow Jones and S&P 500 changed little

But given the flood of earnings and a red-hot Jobs report indicating a longer Fed rate hike, the market rally late last week could barely sell after the stock reached resistance. But they stayed, at most. Friday’s action in particular was encouraging.

The Nasdaq is up from its early June high, but is approaching a trendline since the beginning of the year. The Russell 2000 is at its opening June high, while the S&P 500 and Dow Jones are still operating at that crucial level.

A long pause or slight pullback would be healthy. The market rally has come a long way, with most advances coming in relatively light amounts.

Meanwhile, several key stocks or potential leaders can breathe a sigh of relief. A major index halving or pullback will give Monolithic Power and OneSemy an opportunity to create handles, make short entries and hold moving averages.

The same goes for Apple stock, Tesla and many others.

The market leadership is broadening. Biotech, chips, aerospace/defense, solar, steel and energy, to name a few, are showing strength.

These are encouraging signs. But it could still be a bear market rally that eventually runs out of steam.

Time Markets with IBD’s ETF Market Strategy

What should we do now

Investors should play in this market, but not for all marbles. There are reasons to remain cautious about the current market. At any given time, many stocks are not showing buying signals, while shakeouts and sector rotations can make it difficult to hold on to the position.

So add exposure carefully. There is still some partial profit-taking logic.

Create your watchlist. Be sure to cast a wide net so that you can spot potential leaders in different fields.

Reading big picture Every day to keep pace with market direction and major stocks and sectors.

Please follow Ed Carson on Twitter @ibd_ecarson For stock market updates and much more.

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