Dow Jones Futures Fall As Yields Rise, Bitcoin ETF Launching; Microsoft, Tesla Rival Xpeng Are Buys In Market Rally – Investor’s Business Daily

Dow Jones futures fell slightly Monday morning, along with S&P 500 futures and Nasdaq futures, as the 10-year Treasury yield again hit 1.6% and China’s economy slowed. A Bitcoin futures ETF is set to launch with key earnings on tap this week.


The stock market rally rose powerfully last week, moving back into a confirmed rally. That’s a green light to investors to ramp up exposure again, but watch your speed and don’t get distracted.

Dow Jones giants Microsoft (MSFT) and Goldman Sachs (GS) offer early entries now. So does Tesla rival Xpeng (XPEV), with other Chinese EV makers rallying and Tesla stock continuing its steady ascent. Expedia (EXPE) is just below a breakout while Old Dominion Freight Line (ODFL) is flirting with a traditional buy point.

Key earnings this week include Tesla (TSLA), Netflix (NFLX), ASML (ASML), Chipotle Mexican Grill (CMG), Nucor (NUE), CSX (CSX), Snap (SNAP), as well as some oil services firms, airlines and top-rated banks.

AppleAAPL is expected to unveil a long-awaited updated MacBook pro laptop with in-house chips at a Monday product event.

Bitcoin ETF Launching

Meanwhile, Bitcoin surged to $62,858 on Friday, a six-month high following a huge run over the past several weeks. The Bitcoin price was below $61,000 after pausing over the weekend.

ProShares indicated in a late Friday filing that its Bitcoin futures ETF will begin trading this week. It’ll begin trading on Tuesday, the New York Times reported.

The Securities and Exchange Commission hasn’t formally approved the ProShares Bitcoin Strategy ETF (BITO). The SEC may never officially do so. But BITO can begin trading if the SEC doesn’t object. It’ll be thirst of what will likely be several Bitcoin futures ETFs, bringing the cryptocurrency even closer to ordinary investors. Grayscale reportedly is close to filing an application for spot price Bitcoin ETF.

Earlier this month, SEC Chairman Gary Gensler made it clear he was not considering a China-like ban on Bitcoin and other cryptocurrencies.