Dow Jones futures will open on Sunday evening, along with S&P 500 futures and Nasdaq futures. The major indexes last week reversed lower from key resistance to undercut key support, raising fresh concerns about the stock market rally.
A hot inflation report and fears of an imminent Russia invasion of Ukraine spurred the stock market sell-off late in the week.
This is not a good time to be adding exposure. Still, Apple stock, Regeneron (REGN), UnitedHealth (UNH), Google parent Alphabet (GOOGL) and Oneok (ONE) are stocks near buy points that boast growth at a reasonable price.
Low Times For High Growth
For investors used to trading highly valued growth stocks, the new year has been painful. A rising rate environment pressures highly valued stocks, especially those that are unprofitable or have triple-digit price-to-earnings ratios. Dutch Bros (BROS), with a P-E ratio above 200 ,caught the eye of seemingly every growth investor a week ago, but BROS stock reversed sharply lower last week. Tesla (TSLA) has held up better than a lot of these names, but it’s been struggling in 2022. Datadog (DDOG) bounced back last week on earnings, but was that a one-time pop or will DDOG stock make further progress?
Advanced Micro Devices (AMD), while no longer exceptionally valued, still plunged 10% on Friday, leading a sell-off in chips and techs generally. After nearly hitting its 50-day line on Wednesday, AMD stock finished the week just above its 200-day line. It’s more than wiped out its Feb. 2 pop on earnings.
Investors on Monday will get a reading on Tesla’s China sales and exports for January as part of industry data on Chinese EV and overall auto sales.
The video embedded in this article takes a look at the market rally’s highs and lows during the week and analyzes AMD stock, Regeneron and Oneok.
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.
Coronavirus cases worldwide reached 408.45 million. Covid-19 deaths topped 5.81 million.
Coronavirus cases in the U.S. have hit 79.11 million, with deaths above 940,000.
Covid cases have fallen dramatically in the U.S., with deaths also retreating. More states, including several run by Democratic governors, are ending mask mandates in the near future.
Stock Market Rally
The stock market rally sold off hard to end last week, with the major indexes breaking below key levels.
The Dow Jones Industrial Average fell 1% in last week’s
Read More: Dow Jones Futures: Market Rally Takes Bearish Turn On Inflation,