Dow Jones Futures Rally, Tech Stocks Surge As Yields Fall; Apple, Tesla Set To Snap Back – Investor’s Business Daily
Dow Jones futures and S&P 500 futures were squarely higher early Tuesday, while Nasdaq 100 futures surged, as Treasury yields fell from recent highs. Apple and Tesla were set to snap back with sharp gains Tuesday. But former hot stock Stitch Fix plunged more than 20% in overnight trade.
On Monday, the Dow Jones Industrial Average advanced 1%, or 306 points. The blue-chip index hit a record high before cutting gains. The S&P 500 slipped 0.5%, while the tech-heavy Nasdaq composite tumbled 2.4%.
Among the Dow Jones leaders, Apple (AAPL) rallied over 2% premarket Tuesday, while Microsoft (MSFT) also moved up about 2% in today’s stock market. Disney (DIS) advanced out of buy range, while Visa (V) remains in buy range above a new buy point.
Tesla (TSLA) surged nearly 5% premarket Tuesday, looking to snap back from Monday’s 5.8% dive. After the close Monday, Stitch Fix (SFIX) reported mixed fiscal-Q2 results.
Among the top stocks to watch, Alphabet (GOOGL), Polaris (PII) and Westlake Chemical (WLK) are holding up well in the current stock market correction.
Microsoft, Polaris and Tesla are IBD Leaderboard stocks. Alphabet was featured in this week’s Stocks Near A Buy Zone column. Westlake was Monday’s IBD Stock Of The Day.
Dow Jones Futures: Yields Fall
Ahead of the stock market open Tuesday, Dow Jones futures rallied 0.4%, while S&P 500 futures gained 1% vs. fair value. Nasdaq 100 futures surged 2.3% vs. fair value. Remember that trading in Dow Jones futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.
U.S. Stock Market Today Overview