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Dow Jones futures, as well as S&P 500 and Nasdaq 100 futures, were little changed on Monday night. Tesla stock regained a buy point following an analyst upgrade, while AMC stock jumped as much as 10% on earnings after the close.
X
On Monday, the Dow Jones Industrial Average was down 0.3%, while the S&P 500 was down 0.1%. The Nasdaq rose 0.2%.
Among the leaders of the Dow Jones, Apple (AAPL) lost less than 0.1% on Monday, while Microsoft (MSFT) was down 0.4% in today’s stock market. Home deposit (HD) tries to break above a new buy point, but remains below the entry after two consecutive days of losses.
You’re here (TSLA) climbed 2.1% following an analyst upgrade before the market opened. Tesla stock recently regained a buying point. After closing on Monday, AMC Entertainment (AMC) reported profits exceeding expectations. AMC stock jumped 10% in extended trading.
Among the best stocks to buy and watch, Free market (MELI), Break (BREAK), Square (SQ) and Wells fargo (WFC) are located in or near new shopping areas.
Apple was the IBD stock of the day for Monday. MercadoLibre, Microsoft and Tesla are stocks in the IBD ranking. Square is an IBD SwingTrader share. Snap and Wells Fargo were listed in this week’s Stocks Near A Buy Zone column.
Dow Jones Futures Today
After the stock market closed on Monday, Dow Jones futures were up less than 0.1% from fair value, while S&P 500 futures were left unchanged. Futures contracts on the Nasdaq 100 lost less than 0.1% from fair value. Keep in mind that trading futures contracts on Dow Jones and elsewhere does not necessarily translate into actual trading in the next regular trading session.
Snapshot of the US Stock Market Today |
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|---|---|---|---|---|
| Index | symbol | Price | Loss of profit | % Change |
| Dow jones | (0DJIA) | 35100.60 | -107.91 | -0.31 |
| S&P 500 | (0S & P5) | 4432.66 | -3.86 | -0.09 |
| Nasdaq | (0NDQC) | 14860.18 | +24.42 | +0.16 |
| Russel 2000 | (IWM) | 222.17 | -1.22 | -0.55 |
| MICI 50 | (FFTY) | 46.46 | +0.28 | +0.61 |
Last updated: 4:52 PM ET 8/9/2021 |
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Among exchange-traded funds, the Innovator IBD 50 (FFTY) rose 0.7% on Monday. The Nasdaq 100 tracker Invesco QQQ Trust ETF (QQQ) gained 0.2% on Monday. Meanwhile, the SPDR S&P 500 ETF (SPY) fell 0.1%.
The stock market rally continues
Dow Jones Industrials and the S&P 500 retreated from Friday’s record highs, while the Nasdaq recouped some of Friday’s modest losses.
Friday’s Big Picture column commented, “The market trend remains in a confirmed uptrend. The main growth stocks tend to behave well, such as Advanced micro-systems (AMD), which triggered the eight-week retention rule last week. But there are a few recent losers. Year (ROKU) triggered the 7% to 8% loss reduction sell rule from a buy point of 463.09 last week. “
(Be sure to check out Thursday’s Big Picture for a detailed breakdown of how to manage exposure to the current stock market.)
For more stock market commentary, check out The Big Picture from IBD.
Stock ETF strategy and how to invest
Bitcoin price climbs above $ 46,000
The price of Bitcoin briefly exceeded $ 46,000 on Monday before losing some gains. Bitcoin traded around $ 45,700 in Monday night trading, according to Coindesk.
Grayscale Bitcoin Trust (GBTC) rose more than 7% on Monday. The ETF is back above its 50-day moving average.
Dow Jones Stocks to Buy and Watch: Home Depot
Dow Jones leader Home Depot is trying to break above the 333.55 buy point of a handle mug, according to IBD MarketSmith’s chart analysis. The 5% buy zone goes up to 350.23.
Shares fell 0.3% on Monday.
Stocks to buy and watch: MercadoLibre, Snap, Square, Wells Fargo
IBD stock MercadoLibre is trading at a buy point of 1,755.05 after Thursday’s nearly 14% rise. Shares fell less than 0.1% on Monday. According to rank analysis, the stock’s first 5 minutes of trading peaked at 1,755.05, setting an alternate entry for aggressive investors. A trendline within the base can also offer another early entry point.
The stock also builds the right side of a cup base, according to IBD MarketSmith’s chart analysis. Another possible entry is looming in 2020.10. And be on the lookout for a potential handful to provide a more optimal point of purchase for risk.
Snap is trading just beyond the 5% buy zone above a 73.69 buy point in a consolidation. The 5% buy zone peaks at 77.37. Stocks reversed after the initial losses to recover nearly 3% on Monday.
On July 23, Snap jumped nearly 24% following a second quarter earnings report that flipped estimates with revenue more than doubled and an outlook that also beat views.
IBD SwingTrader Square stock is back in the buy range beyond a buy point of 267.87 in a handle-cup base amid Monday’s 1.7% gain. The 5% buy area rises to 281.26.
According to the IBD Stock Checkup, the SQ stock has an IBD Composite Rating of 96 out of 99. The IBD Composite Rating identifies stocks with a mix of strong fundamental and technical characteristics.
Wells Fargo is in a buy range above the flat-base buy point of 48.23 after Friday’s breakout move. The shares reversed down 0.25% on Monday and are in the 5% buy zone rising to 50.64.
The banking giant was the IBD title of the day Friday. Wells Fargo stock jumped nearly 4% after Friday’s bullish jobs report.
AMC Earnings
AMC’s profits exceeded second-quarter estimates after the close on Monday, as its CEO hailed a “transformational” quarter of capital increases. AMC lost 71 cents a share on revenue of $ 444.7 million.
AMC reported a loss of 94 cents per share compared to a loss of $ 5.38 in the last year quarter. Sales reached $ 382 million, up from $ 19 million a year earlier.
AMC actions
AMC stock closed more than 50% of its high of 72.62 on Monday, which was retreated on June 2. Stocks closed the day below their 50-day moving average line.
On Monday night, AMC stock jumped 10% in extended trade, trading as high as 37.20 before cutting a few gains.
AMC became a “meme stock” following a short-squeeze launched by Reddit group r / wallstreetbets earlier this year.
IBD Live: a new tool for daily stock market analysis
Tesla shares
Tesla stock rose more than 2% on Monday, rebounding from Friday’s sell-off. Early Monday, Jefferies lifted Tesla from suspension to purchase, raising the price target from 700 to 850. Meanwhile, July sales in China are expected to be released on Tuesday.
The electric vehicle giant is rebounding from support around its 50 and 200-day moving averages. Another strong show of support at these levels is bullish for the stock’s outlook. Stocks are back above an aggressive buy point of 700.10 deep in a correction. Meanwhile, a wide and deep base continues to take shape.
On January 25, Tesla stock hit a record high at 900.40, after climbing 93% from a buy point of 466 in a handle mug.
Dow Jones Executives: Apple, Microsoft
Among the major stocks in the Dow Jones, Apple lost less than 0.1% on Monday, adding to Friday’s 0.6% loss. Stock hit an all-time high on July 15 at 150. Apple stock remains outside the 5% buy zone from an entry of 137.17 in a cup base. On a weekly chart, IBD MarketSmith chart analysis also places a buy point at 145.19 in a consolidation, which would put Apple in a buy range up to 152.45.
Software giant Microsoft fell 0.4% on Monday, but remains just short of records. Microsoft continues to trade solidly above the buy point of 263.29 cups. The stock is extended above the 5% buy zone, which climbs to 276.45.
Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen to learn more about growth stocks and the Dow Jones Industrial Average.
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