Dow Jones futures will open Sunday evening, along with S&P 500 futures and Nasdaq futures, after the stock market rally rebounded from key levels back to record highs.
Those six companies have a combined market cap of nearly $10 trillion. All except Tesla stock had solid to standout weeks, trading at or near record highs.
Tesla stock investors face a big decision before Monday’s close. Meanwhile, Nvidia (NVDA) is still actionable while rival Advanced Micro Devices (AMD) is near a buy point with its own earnings on tap.
The stock market rally made bullish moves last week, with the S&P 500 index and Nasdaq composite at record highs. But there are reasons to be cautious, at least for substantially adding exposure at current levels. Apple (AAPL) and the tech megacaps have run up a lot heading into earnings, already pushing the market rally back toward extended levels.
Dow Jones Futures Today
Dow Jones futures will begin trading at 6 p.m. ET on Sunday, along with S&P 500 futures and Nasdaq 100 futures.
Coronavirus cases worldwide reached 193.99 million. Covid-19 deaths topped 4.15 million.
Coronavirus cases in the U.S. have hit 35.28 million, with deaths above 626,000.
Stock Market Rally
The stock market rally started the week poorly but then powered higher impressively.
The Dow Jones Industrial Average rose 1.1% in last week’s stock market trading. The S&P 500 index gained nearly 2%. The Nasdaq composite popped 2.8% with the big-cap Nasdaq 100 up 3%. The small-cap Russell 2000 climbed 2.1%.
Apple stock rose 1.5% last week and Microsoft 3.2%. Amazon climbed 2.3% while Google rallied 4.8% and Facebook stock jumped 8.4%. Microsoft, Facebook and Google stock hit record highs Friday. AMZN stock is in buy range.
Among the best ETFs, the Innovator IBD 50 ETF (FFTY) soared 8.7% last week after erasing early losses. The Innovator IBD Breakout Opportunities ETF (BOUT) popped 4.2%. The iShares Expanded Tech-Software Sector ETF (IGV) leapt 4.9%, with Microsoft stock a major holding. The VanEck Vectors Semiconductor ETF (SMH) gained 4.2%, with Nvidia and AMD stock key components.
SPDR S&P Metals & Mining ETF (XME) climbed 3.2% and Global X U.S. Infrastructure Development ETF (PAVE) 2.5%. U.S. Global Jets ETF (JETS) elevated 2.5%. SPDR S&P Homebuilders ETF (XHB) ran up 4.8%. The Energy Select SPDR ETF (XLE) edged down 0.3% and the Financial Select SPDR ETF (XLF) climbed 0.4%.