Dow Jones futures will open on Sunday evening, along with S&P 500 futures and Nasdaq futures. The stock market rally started off strong last week, but pared gains considerably amid big earnings moves and soaring Treasury yields.
Investors need patience and discipline right now, keeping exposure light while waiting to see if the confirmed market rally powers higher or breaks down.
Apple (AAPL), Google parent Alphabet (GOOGL), Qualcomm (QCOM) and Microsoft (MSFT) are tech giants that are holding up well, setting up potential entries. All of these stocks have already reported strong quarterly results, and have relatively modest price-earnings ratios.
Meanwhile, Tesla stock has more work to do to get into position, but is holding up better than most highly valued growth plays. Tesla (TSLA) also has already reported earnings.
Amazon Mulling Peloton Takeover?
Late Friday, Peloton Worldwide (PTON) skyrocketed on a Wall Street Journal report that Amazon.com (AMZN) had approached the connected bike and treadmill maker for a potential takeover. Sources said other potential bidders are circling, but no deal is imminent. Blackwells Capital has been pushing the board to fire CEO John Foley and explore a Peloton sale.
Amazon’s logistics could help address Peloton’s supply-chain issues. Peloton’s subscription service potentially could be folded into Amazon Prime.
A massive coronavirus winner, PTON stock peaked at 171.09 in early 2021 and crashed to a record-low 22.81 on Jan. 28. Shares rose 1.4% to 24.60 at Friday’s close. In extended trade, PTON stock surged 27%. AMZN stock, up 13.5% Friday on earnings, was little changed late.
Tesla and Microsoft stock are on IBD Leaderboard. Microsoft and Google stock are on IBD Long-Term Leaders. Google and Tesla stock are on the IBD 50. QCOM stock is on the Big Cap 20.
The video embedded in this article analyzed the volatile market rally and discussed Apple stock, AMZN stock and UnitedHealth (UNH).
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 …….