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Dow Jones futures, as well as S&P 500 and Nasdaq 100 futures, were higher following Monday’s market close on growing fears of Covid-19. Tech giant Netflix is expected to release its results Tuesday night.
X
On Monday, the Dow Jones Industrial Average plunged 2.1%, or 725 points. The S&P 500 sold 1.6%, while the Nasdaq fell 1.1%.
Among the leaders of the Dow Jones, Apple (AAPL) fell 2.7% on Monday, while Microsoft (MSFT) was down 1.3% in today’s stock market. Coke (KO) and Mcdonalds (MCD) are close to points of purchase. IBM (IBM) topped profit estimates after the close.
You’re here (TSLA) reversed after strong losses as it re-tests its key support levels. Netflix (NFLX) ended a two-day losing streak ahead of Tuesday’s results.
Among the best stocks to buy and watch, Advanced micro-systems (AMD), BioNTech (BNTX) and AutoNation (AN) are located in or near shopping areas.
Microsoft and Tesla are stocks in the IBD ranking. BioNTech is an IBD SwingTrader share. AMD was listed in this week’s Stocks Near A Buy Zone column, while AutoNation was Monday’s IBD stock for the day.
Dow Jones Futures Today: Covid-19 Fears
After the stock market closed on Monday, Dow Jones futures were up 0.25%, while S&P 500 futures were up 0.3% from fair value. Futures contracts on the Nasdaq 100 increased 0.4% 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 | % Switch |
| Dow jones | (0DJIA) | 33963.29 | -724.56 | -2.09 |
| S&P 500 | (0S & P5) | 4258.80 | -68.36 | -1.58 |
| Nasdaq | (0NDQC) | 14274.98 | -152.26 | -1.06 |
| Russel 2000 | (Etc.) | 211.95 | -3.00 | -1.40 |
| MICI 50 | (FFTY) | 42.08 | +0.03 | +0.07 |
Last updated: 5:26 PM ET 7/19/2021 |
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The recent resurgence of Covid-19 cases in many parts of the world – including highly vaccinated countries like the UK – could hamper economic growth. In the United States, coronavirus cases have jumped 37% in the past seven days to 203,082, according to Worldometer.
Meanwhile, Sunday’s OPEC + deal to end production limits also weighed on major stock indexes. US crude oil futures plunged nearly 8%, the lowest level since May. Dow Jones Oil Stocks Exxon Mobil (XOM) and Chevron (CVX) lost 3.4% and 2.7% respectively.
Among exchange-traded funds, the Innovator IBD 50 (FFTY) edged up on Monday. The Nasdaq 100 tracker Invesco QQQ Trust ETF (QQQ) fell 0.8% on Monday. Meanwhile, the SPDR S&P 500 ETF (SPY) fell 1.5%.
The stock market rally weakens
The S&P 500 continued to retreat from record highs on Monday, while the Nasdaq extended its losing streak to five sessions. Dow Jones industrialists broke their 50-day moving average with heavy losses on Monday.
Monday’s Big Picture column noted: “It was a tough selling day on Monday, but the sale shouldn’t have been a big surprise as the yellow flags have been around for a while.”
For more stock market commentary, check out The Big Picture from IBD.
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Dow Jones Stocks to Buy and Watch: Coca-Cola, McDonald’s
Dow Jones Coca-Cola and McDonald’s stocks are near new buying points despite Monday’s market sell-off. Coca-Cola is trading around 2% from a 56.58 buy point in a flat base after Monday’s 1.2% drop.
McDonald’s is trading below a buy point of 238.28 on a flat basis, according to IBD MarketSmith’s chart analysis, after Monday’s 2.3% decline. The stock closed below its key 50-day moving average.
Dow Jones Profits: IBM
Dow Jones IBM stock reported strong second quarter results after the close on Monday. The company reported adjusted EPS of $ 2.33 on sales of $ 18.7 billion.
Shares jumped nearly 4% in extended trading on Monday. IBM stock plots a flat base with a buy point of 152.94.
Netflix Earnings
After the market closes on Tuesday, Netflix’s results are expected to be released. Market leader FANG is expected to earn $ 3.18 per share on sales of $ 7.3 billion, representing increases of 100% and 19%, respectively, from the period last year.
In the last quarter, profits climbed 139% on revenue of $ 7.1 billion.
Netflix stocks
Netflix stock continues to build a double bottom with a buy point of 563.66. Shares closed 0.4% higher on Monday and are about 6% off the buy point.
So far, the stock has not participated in this year’s stock rally. Year to date, Netflix stock is down 1.5%, while the Nasdaq is up more than 10% through Monday’s close.
Stocks to buy and watch: AMD, BioNTech, AutoNation
Chip giant Advanced Micro Devices plots a cup with a handle that shows a buy point of 95.54, according to graphical analysis from IBD MarketSmith. Shares rose 0.8% on Monday.
AMD stock was featured in this week’s Stocks Near A Buy Zone column.
According to the IBD Stock Checkup, AMD stock has a strong rating of 95 out of a perfect IBD composite rating of 99. The IBD composite rating identifies stocks with a mix of strong fundamental and technical characteristics.
The IBD BioNTech ranking stock is rebounding from its 50-day moving average, but the Covid-19 vaccine stock is now out of a new buy zone after Monday’s 4.8% rally. According to the ranking analysis, BioNTech cleared a trendline after falling near 222, offering a new entry at a price point similar to the 50-day line.
BioNTech is also an IBD SwingTrader share.
Monday’s IBD stock of the day AutoNation is trying to break above a buy point of 107.07 after the firm’s strong second quarter results before the open. Shares closed just below the buy point in the middle of Monday’s 3.65% advance.
On the upside, the stock’s RS line is right next to new highs, indicating substantial outperformance of the stock market relative to the broader market. The RS line is expected to hit a new high on the day of the breakout or soon after.
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Tesla shares
Tesla stock reversed 0.3% higher on Monday, ending a four-day losing streak. The electric vehicle giant is again testing support around its 200-day long-term moving average. Another strong show of support at these levels would look bullish for the stock’s outlook.
On January 25, Tesla stock hit an all-time 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 sold 2.7% on Monday, extending a streak of losses to three sessions. The stock hit an all-time high last week at 150.00.
Apple stock falls back into the 5% buy zone from an entry of 137.17 in a cup base, according to graphical analysis from IBD MarketSmith.
Microsoft continues to trade solidly above the buy point of 263.29 cups. Shares lost 1.3% on Monday. 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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