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Dow Jones Futures: Market Rally Steps Up As Apple Leads, But Be Wary;


Dow Jones futures will open Sunday evening, along with S&P 500 futures and Nasdaq futures. A stock market rally attempt showed whipsaw action last week, but closed with strong gains Friday.


Tech titans Apple (AAPL) and Microsoft (MSFT) led the way, having positive reactions on earnings. Tesla (TSLA) plunged last week, but did hold last-ditch support on Friday.

Investors should remain cautious, but also prepare for new buying opportunities. Pay attention to several key earnings this coming week. Google parent Alphabet (GOOGL), Ford Motor (F), Qualcomm (QCOM), Fortinet (FTNT) and Advanced Micro Devices (AMD) are five notable reports. All of these charts have had a rough stretch, though Google stock could be actionable soon. Ford stock, Qualcomm and Fortinet aren’t plunging vs. the broader market. AMD stock is a former chip leader that is trying to find a bottom.

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

The video embedded in this article discussed the volatile market action and analyzed Apple stock, Microsoft and Ford.

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

Coronavirus News

Coronavirus cases worldwide reached 370.16 million. Covid-19 deaths topped 5.66 million.

Coronavirus cases in the U.S. have hit 75.25 million, with deaths above 905,000.

New Covid cases have clearly topped in the U.S., although they are still very high. Hospitalizations also may have peaked nationwide.

Stock Market Rally

A stock market rally attempt began on Monday as the major indexes reversed modestly higher from steep losses. After some negative reversals during the week, the major indexes rallied back on Friday.

The Dow Jones Industrial Average rose 1.3% in last week’s stock market trading. The S&P 500 index climbed 0.8%. The Nasdaq composite edged up 1 point, bailed out by Friday’s 3.1% spike. The small-cap Russell 2000 finished down 0.9%.

The 10-year Treasury yield rose 3 basis points to 1.78%, despite pulling back late in the week. Short-term Treasury yields climbed further, squeezing banks’ lending profitability and signaling some concerns about overall economic growth.

U.S. crude oil futures rose for a sixth straight week, up about 2% to $86.82 a barrel, trading at their highest level since 2014.

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