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Market Rally At Highs But 5 Tech Titans On Tap; Should You Sell Tesla?

  • Sponsored results for Market Rally At Highs But 5 Tech Titans On Tap; Should You Sell Tesla?

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July 24, 2021
in Business
Market Rally At Highs But 5 Tech Titans On Tap; Should You Sell Tesla?


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.




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Tesla earnings loom on Monday night, with Apple stock, Microsoft (MSFT), Amazon.com (AMZN), Facebook (FB) and Google parent Alphabet (GOOGL) also due this coming week.

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.

Nvidia stock, Tesla, Microsoft and Google are on IBD Leaderboard. Microsoft stock and Google are on IBD Long-Term Leaders. Google stock is on the IBD 50.

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.

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 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%.

Reflecting more-speculative story stocks, ARK Innovation ETF (ARKK) popped 5.1% and ARK Genomics ETF (ARKG) 3.35%. Tesla stock is the top holding across ARK Invest ETFs.


Celebrate 10 Years Of Leaderboard…



Read More News: Market Rally At Highs But 5 Tech Titans On Tap; Should You Sell Tesla?

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