Dow Jones Futures: Crude Oil Rebounds, Treasury Yields Keep Falling; Amazon, Shopify Lead 5 Techs In Buy Zones – Investor’s Business Daily

Dow Jones futures and S&P 500 futures edged higher Wednesday morning, while Nasdaq futures rose solidly. Crude oil prices rebounded modestly overnight, while the 10-year Treasury yield continued to fall.


The stock market rally was mixed Tuesday as crude oil prices and other commodity futures retreated while Treasury yields slumped to a four-month low.

Software and some tech megacaps continued to lead. CrowdStrike (CRWD), Zscaler (ZS), Shopify (SHOP), (BILL) and (AMZN) broke out. A widespread ransomware attack gave a boost to cybersecurity plays such as CrowdStrike and ZS stock. The Pentagon canceled a $10 billion JEDI cloud-computing contract with Microsoft (MSFT), a likely win for Amazon.

China Stocks Slammed

China stocks were hard hit as Beijing extended a crackdown on ride-hailing giant Didi Global (DIDI) and two other recent U.S. IPOs, logistics platform Full Truck Alliance (YMM) and job-search app Kanzhun (BZ). That raised regulatory risk concerns for U.S.-listed Chinese companies, especially those like Didi that rely on user data.

DIDI stock plunged nearly 20% to 12.49, while YMM lost 6.7% and BZ 16%, all undercutting their IPO prices, at least intraday. Alibaba (BABA), which paid a record antitrust fine earlier this year, slumped 2.8%, near a 52-week low. Tencent (TCEHY) retreated 3.45% to its worst levels of the year. UP Fintech (TIGR) plunged 14%.

DIDI stock continued to slide early Wednesday, but many other Chinese stocks showed slimĀ  gains.

Time The Market With IBD’s ETF Market Strategy

Energy stocks dominated Tuesday’s biggest losers in the S&P 500 index. U.S. crude futures hit a six-year high overnight of $76.98 a barrel following an OPEC+ impasse, but closed Tuesday down 2.4% to $73.37 a barrel. Like crude oil prices, energy stocks have run up sharply in 2021. Most still look in good technical health, though few are in a good buying position right now.

Miners also retreated as copper turned lower, while agriculture stocks slumped as crop futures sold off. Tumbling 10-year Treasury …….