Dow Jones futures and S&P 500 futures rose Monday morning while Nasdaq futures fell slightly. The price of Bitcoin fell over the weekend, extending a recent slide and the latest sign of a “risk-off” mindset hitting financial markets. Lucid Motors was an early loser Monday
The stock market suffered sharp losses last week, with the major indexes shrugging off short-lived rebounds to close below key moving averages. Apple stock and Tesla are among key stocks to watch in the days ahead.
DocuSign (DOCU), a key 2020 winner, crashed Friday as hard times hit the software sector. But the writing was already on the wall for the e-signature leader.
Apple (AAPL) continues to hold up, rising modestly last week.
Adobe (ADBE), which had held up relatively well in recent weeks, finally tumbled on Friday. Microsoft (MSFT) and Nvidia stock are starting to show some strain. Tesla stock faces a key test after EV rivals such as Lucid (LCID), Rivian Automotive (RIVN), Xpeng (XPEV) and Li Auto (LI) plunged.
Lucid stock dived early Monday after disclosing an SEC subpoena related to an investigation of SPAC merger. Rivian stock got a number of analyst initiations, mostly positive.
A more-hawkish Fed and omicron variant fears are two catalysts for the recent sell-off, but what the market is doing matters far more than why. Investors should be playing defense in the current market environment, cutting exposure and not looking to make new buys.
Tesla (TSLA), Microsoft, Nvidia (NVDA) and Adobe stock are on IBD Leaderboard. MSFT stock and Adobe are on IBD Long-Term Leaders. Tesla, Nvidia, Microsoft and XPEV stock are on the IBD 50.
The video embedded in this article reviewed the market action in detail and analyzed DOCU stock, Adobe and Tesla.
Bitcoin Price, Cryptocurrencies Off Lows
The price of Bitcoin plunged early Saturday to just above $42,000. The pioneer digital currency has recouped some of those losses to above $48,000, according to Coindesk. Ethereum is back above $4,000, off Saturday’s lows.
Both have pulled back …….