Dow Jones futures will open Sunday evening, along with S&P 500 futures and Nasdaq futures. The bifurcated stock market rally had a wild week, but finished on a strong note.
X
It remains a challenging environment, with enough positive action to entice investors but volatile enough to toss them out. However, with the broader stock market rally strengthening late last week, with several quality names breaking out or flashing bullish signals from a variety of sectors.
The chip-equipment group is one of the hottest right now, with ASML (ASML), Lam Research (LRCX), Entegris (ENTG), KLA Corp. (KLAC) and MKS Instruments (MKSI) are actionable right now. The already-strong group got a big boost last week when Intel (INTC) announced it would spend $20 billion on two new chip plants in Arizona. Intel stock spiked to a 20-year high, plunged its 10-week line before rebounding for a modest gain.
The biggest unknown is the stock market rally. If it continues to move higher, then ASML stock and other chip-gear plays stand a good chance of working. But if the stock market resumes choppy action or steady selling, expect more difficult times. This is why it’s so important to be in a healthy, sustained market rally. Stocks looked better late in the week, but is this yet another head fake. Meanwhile, the Nasdaq continues to live below key levels.
One area of the market remains on intensive care: speculative or richly valued growth stocks.
That includes EV stocks such as Tesla (TSLA), Nio (NIO), Xpeng (XPEV) and Li Auto (LI). But it also includes Teladoc Health (TDOC), Roku (ROKU), Baidu (BIDU), Palantir Technologies (PLTR) and many more. From Tesla stock on down, these stocks are well below their 50-day lines. Roku, Baidu and Palantir stock are trading at 2021 lows.
ASML stock and Entegris are on the IBD 50. LRCX stock and KLAC are on the Big Cap 20.
Dow Jones Futures Today
Dow Jones futures will 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.
Coronavirus News
Coronavirus cases worldwide reached 127.27 million. Covid-19 deaths topped 2.78 million.
Coronavirus cases in the U.S. have hit 30.91 million, with deaths above 562,000. On Friday, the U.S. added over 76,000 new Covid cases, the most in a month. Easing Covid restrictions and different strains may be pushing up cases, but coronavirus vaccinations are running at a fast clip, likely preventing another big wave of infections.
Stock Market Rally Last Week
U.S. Stock Market Today Overview | ||||
|---|---|---|---|---|
| Index | Symbol | Price | Gain/Loss | % Change |
| Dow Jones | (0DJIA) | 32818.79 | +199.31 | +0.61 |
| S&P 500 | (0S&P5) | 3937.51 | +27.99 | +0.72 |
| Nasdaq | (0NDQC ) | 12960.98 | -16.70 | -0.13 |
| Russell 2000 | (IWM) | 217.69 | +1.03 | +0.48 |
| IBD 50 | (FFTY) | 43.10 | +0.05 | +0.12 |
Last Update: 3:06 PM ET 3/26/2021 | ||||
The stock market rally retreated for much of the week but found its footing during Thursday’s session. A final-hour frenzy on Friday put a positive spin on the week.
The Dow Jones…
Read More News: Strong Finish To Week, But Be Wary; Five 5 Stocks In Buy Zones
