Dow Jones futures will open on Sunday evening, along with S&P 500 futures and Nasdaq futures. Bitcoin surged above $61,000 for the first time ever.
The stock market remains split, but the rally is broadening out significantly, with more and more stocks from a variety of sectors breaking out. The one notable exception is Nasdaq and growth stocks, but even they had a tentatively positive week.
Delta Air Lines (DAL), Las Vegas Sands (LVS) and Marriott International (MAR) are among several travel stocks setting up bullishly in similar patterns, with United Airlines (UAL) already clearing a fresh buy point.
Eli Lilly (LLY) released more details from a phase two study showing its drug donanembab slowed cognitive decline in early Alzheimer’s patients. by 32% over 18 months. That headline figure was released in January, sending LLY stock soaring. Today’s more complete data were released at a conference and published in the New England Journal of Medicine. Certain other secondary goals were mixed.
Volkswagen (VWAGY) will hold a battery-focused Power Day event before U.S. markets open on Monday, akin to Tesla’s Battery Day last year. VW earnings are due Tuesday, while the ID.4 crossover launches in China and the U.S. later this month. VW is leading the charge of traditional automakers rushing into electric vehicles. All of that could pressure Tesla sales and prices, as well as Tesla stock. VW stock has been soaring in recent months, outpacing fast-rising General Motors (GM) and Ford Motor (F).
Bitcoin Price Tops $61,000
The Bitcoin price continue to run, reaching $61,788 before retreating slightly to below $61,000. Bitcoin’s previous peak was just over $58,000 on Feb. 21. Many financial institutions are mainstreaming Bitcoin as at least digital asset, while Tesla buying $1.5 billion of Bitcoin is one of several companies investing in the cryptocurrency. The $1.9 trillion Biden stimulus is seen flooding more money into Bitcoin and financial markets generally.
S&P 500 Additions
Finally, NXP Semiconductors (NXPI), Penn National Gaming (PENN), Generac Holdings (GNRC) and Caesars Entertainment (CZR) are set to join the S&P 500 index before the open on March 22. The stocks rose 3%-7% late Friday on the S&P 500 news. NXP stock could offer a buying opportunity as it bounces from its 10-week line, while Penn National, Genera and Caesars don’t appear actionable.
Dow Jones Futures Today
Dow Jones futures will open at 6 p.m. ET, along with S&P 500 futures and Nasdaq 100 futures.
Coronavirus cases worldwide reached 120 million. Covid-19 deaths topped 2.65 million.
Read More News: Rally Expands, Bitcoin Tops $60K; Four Stocks Set To Jump Monday