Market Rally Gains Steam; What To Do

Dow Jones futures will open on Sunday evening, along with S&P 500 futures and Nasdaq futures. The stock market rally attempt gained momentum, with the major averages running up sharply Friday and for the week.

UnitedHealth (UNH), Shockwave Medical (SWAV), Ulta Beauty (ULTA), Enphase Energy (ENPH), Sociedad Quimica y Minera (SQM), Quanta Services (PWR), Northrop Grumman (NOC) are stocks to watch. All have relative strength lines at or near highs.

Shockwave stock broke out on Friday, with Ulta and PWR stock arguably offering early entries. UnitedHealth, Northrop, SQM and ENPH stock aren’t far from buy points.

Also keep an eye on Google parent Alphabet (GOOGL) and EV giant Tesla (TSLA). Google stock and Tesla are nowhere close to old highs, but these megacaps are rallying above key levels after holding above their May lows this month.

NOC stock is on IBD Leaderboard, with PWR stock on the Leaderboard watchlist. GOOGL stock is on IBD Long-Term Leaders. UnitedHealth, Ulta Beauty, SQM and ENPH stock are on the IBD 50. UNH stock and Ulta are on the IBD Big Cap 20.

UnitedHealth was Thursday’s IBD Stock Of The Day. SQM was Tuesday’s Stock Of The Day.

Dow Jones Futures Today

Dow Jones futures 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

Stock Market Rally

The stock market rally attempt delivered big weekly gains in a short week, the major indexes closing Friday at their best levels.

The Dow Jones Industrial Average leapt 5.4% in last week’s stock market trading. The S&P 500 index gained 6.5%. The Nasdaq composite surged 7.5%. The small-cap Russell 2000 jumped 6%.

The 10-year Treasury yield fell 11 basis points to 3.12%, rebounding from just above 3% at Thursday’s lows.

U.S. crude oil futures dipped 0.3% to $104.27 a barrel last week, rebounding 3.2% on Friday.

Among the best ETFs, the Innovator IBD 50 ETF (FFTY) fell 1.5% last week, with commodity-related names weighing on FFTY. The Innovator IBD Breakout Opportunities ETF (BOUT) rose 1.7%. The iShares Expanded Tech-Software Sector ETF (IGV) surged 10.3%. The VanEck Vectors Semiconductor ETF (SMH) popped 5.1%.

SPDR S&P Metals & Mining ETF (XME) fell 1% last week, even with a big bounce Friday. The Global X U.S. Infrastructure Development ETF (PAVE) gained 3.6%. U.S. Global Jets ETF (JETS) leapt 5%. SPDR S&P Homebuilders ETF (XHB) shot up 7.6%. The Energy Select SPDR ETF (XLE) slid 2.6% and the Financial Select SPDR ETF (XLF) climbed 4.6%. The Health Care Select Sector SPDR Fund (XLV) raced up 7.8%, with UNH stock a major holding.

Reflecting more-speculative story stocks, ARK Innovation ETF (ARKK) vaulted 18.25% last week and ARK Genomics ETF (ARKG) 18.1%, both moving above their 50-day line. Tesla stock remains a top holding across Ark Invest’s ETFs.

Five Best Chinese Stocks To Watch Now