Dow Jones Future Rally as the stock market is heading for a rebound; Surge on VMware

The Dow Jones Futures rallied on Monday as the stock market looks to recover from last week’s sharp losses. VMware (VMW) rose 23% early Monday, according to Bloomberg Broadcom (AVGO) Cloud service provider negotiating acquisition. Broadcom shares fell 5% in response.


Electric vehicles are monsters Tesla (TSLA) Less Monday morning business. Elsewhere, Dow Jones tech leaders Apple and Microsoft rose slightly in today’s stock market.

In a young and struggling stock market rally, Dow Jones leaders Chevron (CVX) and Mark (MRK) – co Northrop Grumman (NOC), Eli Lily (LLY), Exxon Mobil (XOM) and World Wrestling Entertainment (WWE) – One of IBD’s top stocks to visit on Monday.

Microsoft is an IBD leaderboard stock. Merck is in IBD SwingTrader. And Eli Lilly and Mark appeared in stocks near a buy zone column last week.

Dow Jones Today: Treasury yields, oil prices

Before opening on Monday, the Dow Jones futures rose 1% vs. fair value and the S&P 500 futures rose 0.95%. Nasdaq 100 futures rose 0.7% in morning trade.

Among exchange-traded funds, the Nasdaq 100 tracker Invesco QQQ Trust (QQQ) rose 0.7%. SPDR S&P 500 ETF (SPY) gained 0.9%.

The 10-year Treasury yield stood at 2.82% on Monday morning after ending Friday at 2.78%. After the second week of losses, the 10-year Treasury yield has closed at its lowest level since April 26. US oil prices, meanwhile, rose less than 1% to ট 111 a barrel on West Texas Intermediate crude.

Struggling stock market rally

Major stock indices posted mixed action on Friday, as the Dow Jones Industrial Average and the S&P 500 managed smaller gains, while the Nasdaq closed slightly lower.

The Big Picture column on Friday commented, “The Dow Jones Industrial Average made a sharp reversal in the last hour of Friday’s trading for a small gain. The Nasdaq Composite did almost the same thing but closed with a 0.3% loss. Certainly the uptrend leads to early death. “

If you are new to IBD, take a look at its stock trading system and Can Slim Basics. Identifying chart patterns is a key to investment guidelines. IBD offers a wide range of growth stock listings, such as Leaderboards and SwingTrader.

Investors can also create watchlists, find companies near a buy point, or create custom screens on IBD MarketSmith.

Now five Dow Jones stocks to watch

View Dow Jones Stock: Chevron, Mark

According to IBD Marketsmith chart analysis, Dow Jones leader and power giant Chevron continues to build a flat base with a 174.86 buy point. Shares made their slides around their 50-day line on Friday. CVX shares rose 0.8% on Monday.

CVX stock has a perfect 99 IBD composite rating for IBD stock checkups. Investors can easily measure the quality of a stock’s fundamental and technical metrics using IBD composite ratings.

Mark, a Dow Jones and IBD Swingtrader stock, is trading at the top of a buy range above 89.58 by points of a cup-with-handle, as shares rose 1.6% on Friday. 5% purchase area goes up to 94.06. MRK shares rose 0.6% on Monday morning.

The relative strength line of the stock reached a new high on Friday, a strong indicator of stock market outperformance during the current stock market correction.

See the four top growth stock carsrCapital market rally

Stock to watch: Northrop Grumman, Exxon, Eli Lilly, WWE

Wednesday’s IBD Stock of the Day, Northrop Grumman, is making a cup with a handle with 477.36 by points, according to IBD MarketSmith chart analysis. The stock is falling further below its 50-day line within the three-day rate range. The NOC stock was flat on Monday morning.

Energy giant Exxon Mobil rose 0.7% on Friday to stay above the 89.90 buy point of the cup-co-handle. Shares 5% in the square purchase area which goes up to 94.40 XOM shares rose 1% on Monday.

Pharmaceutical giant Eli Lilly rose 0.7% on Friday. Shares of IBD Leaderboard stocks are finding support near their 50-day moving average line and have reached a flat base of 314.10 by points. An early buy trigger at 309.54 is also in play. Shares of Eli Lilly rose more than 1% on Monday after SVB Securities started the stock with an outperform rating and a 341 price target.

World Wrestling Entertainment is one of the top stocks to watch after closing on Friday in a four-day winning streak. WWE shares returned above their 50-day line and reached a flat base of 63.81 by points. Shares were unchanged early Monday.

Join IBD experts while analyzing the top stocks at the current stock market rally on IBD Live

Tesla stock

Tesla’s stock fell more than 6% on Friday, down 13.7% for the week and hitting its lowest level since the end of July. Shares threatened to add those losses on Monday morning, trading down 1%. Shares are sharply below their 50- and 200-day moving averages.

Tesla aims to resume full production of 2,600 vehicles per day at its Shanghai plant by Tuesday, Reuters quoted a company memo on Monday. As of Monday, it had risen to 1,000.

The stock traded at a high of 1,243.49 on November 4 and is about 47% away from that all-time high.

Dow Jones Leaders: Apple, Microsoft

Among Dow Jones stocks, Apple shares tumbled 0.2% on Friday. The stock is well below its long-term 200-day line and drops about 25% from its 52-week high. Apple shares rose 0.5% on Monday.

Software leader Microsoft fell 0.2% on Friday, the third day in a row. MSFT shares are sharply below their 50- and 200-day lines. The stock closed down nearly 28% from its 52-week high. Microsoft stocks rose 1.1% on Monday.

Be sure to follow Scott Lehtonen on Twitter @IBD_SLehtonen Learn more about growth stocks and the Dow Jones Industrial Average.

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