Dow Jones Futures: Market Rally Pullback Normal, But Not For These Sectors; – EMEA TRIBUNE

Dow Jones futures will open on Sunday evening, along with S&P 500 futures and Nasdaq futures. Tesla reported record first-quarter deliveries on Saturday, with the EV giant near possible buy points.




X



The stock market rally is in the midst of a modest pullback after a strong run from mid-March lows.

The major indexes still look healthy. But investors should be cautious about new buys in the very short term and be ready to exit positions if they aren’t working. Growth and shipping stocks ran into trouble late last week, such as Dutch Bros (BROS) and J.B. Hunt Transport Services (JBHT).

Apple stock, Exxon Mobil (XOM) and SolarEdge Technologies (SEDG) are setting up near buy points.

Tesla Deliveries Strong

Tesla (TSLA) on Saturday reported Q1 global deliveries of 310,048, just topping Q4’s record of 308,600. Analysts had expected deliveries of 309,000, though some consensus forecasts were higher.

That includes 295,324 Model 3 and Model Y vehicles and 14,218 Model S and X vehicles.

Tesla produced 305,407 vehicles in Q1 vs. 305,840 in Q4. The Tesla Berlin factory has just begun deliveries, while the Shanghai plant has been closed for several days amid China Covid restrictions, and looks like it’ll remain shut for at least a few more days.

Tesla stock continued to run up last week toward the 1208.10 cup-base buy point or a trendline entry around 1,145, but might be starting work on a handle.

China EV giant BYD (BYDDF) will report March sales on Sunday or soon after, with some expectation that EV and plug-in hybrid sales topped 100,000 for the first time. BYD stock closed just below its falling 50-day line on Friday.


Tesla Vs. BYD: Which Booming EV Giant Is The Better Buy?


Tesla figures follow March deliveries from Xpeng (XPEV), Nio (NIO) and Li Auto (LI). Nio stock and Li Auto reclaimed their 50-day …….

Source: https://emeatribune.com/dow-jones-futures-market-rally-pullback-normal-but-not-for-these-sectors-tesla-del/