First-rate actions Apple (AAPL) and Microsoft (MSFT) were higher in today’s stock market before the opening. Dow Jones shares Boeing (BA) climbed on 737 Max Jet News. Nike (NKE) rose approximately 0.3% in Dow 30 stocks after Friday’s liquidation. Actions to watch for Monday include IBD ranking actions Facebook (FB) and Netflix (NFLX). Coronavirus treatment manufacturer Gilead Sciences (GILD) and IBD SwingTrader stock Spotify (SPOT) were among the moving actions in pre-trade.
DJIA Today: Coronavirus Surgery
Dow Jones futures were up 0.9% from fair value before the markets opened on Monday, while S&P 500 futures were up 0.7%. The Nasdaq 100 futures contracts were up 0.2% from fair value.
US Stock Market Today overview
|Index||symbol||Price||Loss of profit||% Change|
|S & P500||(0S and P5)||3020.86||-62.90||-2.04|
Last update: 5.30 p.m. ET 06/26/2020
The coronavirus epidemic continues to spread across the United States. On Friday, new daily cases surpassed 47,000, setting a new one-day record. On Sunday, new daily cases increased by more than 40,000 for the fourth consecutive day. However, as new daily cases continue to increase, there has not been a corresponding increase in the number of daily deaths, a key measure to watch for.
The cumulative total of Covid-19 cases confirmed since the start of the epidemic worldwide exceeded 10 million over the weekend, with more than 500,000 deaths linked to the virus.
Against the backdrop of the coronavirus stock market recovery, the tech-rich Nasdaq was up 8.7% for the year until Friday’s close. Meanwhile, the S&P 500 and DJIA are down 6.9% and 12.3% from the start of the year, until the close of June 25.
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Coronavirus stock market rally
According to IBD’s The Big Picture, the rally in the coronavirus stock market remains on an uptrend after bouncing from lows more than three months ago on March 23. The main stock indexes confirmed the rebound as a new upward trend on April 2.
According to Friday’s Big Picture, “An outbreak of new cases of coronavirus in predominantly southern and southwestern states hit the headlines last week. And the stock market downturn on Friday reaffirmed that the world’s No. 1 economy has shown virtually no immunity to the most powerful viruses in decades. ”
Actions to watch include the best actions of long-term IBD leaders. The list of long-term leaders at IBD focuses on companies with stable earnings growth and price performance.
ETF market strategy and how to invest in the current uptrend
Dow Jones News: Boeing, Nike
Boeing’s actions appeared to mark a four-day losing streak early Monday. Stocks climbed more than 5% before opening. Boeing received FAA clearance to begin test flights on its 737 Max on Sunday. Test flights could start as early as Monday.
The stocks lost about 55% of their 52-week high after a streak of three consecutive losses.
Dow Jones retail leader Nike edged up before the market opened on Monday, in focus after losses on Friday. The stock fell 7.6% on Friday, closing just below the 50-day moving average, after the company posted a surprise loss for the quarter. Sales also missed analyst targets.
The Nike stock still forms a cup with a handle with a purchase point of 104.79, according to analysis by MarketSmith.
Stocks in motion: Gilead, Spotify
Coronavirus treatment maker Gilead Sciences jumped 3% in the pre-market session after announcing pricing plans for its remdesivir. The company said it would cost $ 3,120 for a typical American patient with commercial insurance and that it would start charging for the drug in July. The stocks are attempting to return above their 50-day line as a base with a buying point of 86.07 continues to take shape.
IBD SwingTrader Spotify shares fell 1.5% in front of the open stock market after Guggenheim downgraded the stock to sell.
The Spotify share is widely extended from a 160.08 buy point in a double bottom, according to analysis from the MarketSmith chart.
Actions to watch: Facebook, Netflix
Facebook action plunged 8.3% on Friday Unilever (UN) said it would stop advertising on Facebook and Instagram. The company said, “Continuing to advertise on these platforms at this time would not add value to people and society. We will continuously monitor and review our current position if necessary. ”
Since June 23, the IBD Leaderboard stock has essentially given up on the whole gain of 13.8% from a point of purchase of 215.38 in a cup with handle after a breakout on May 19. When a stock round diverts a double-digit gain, investors should consider selling to avoid losing the stock.
Monday morning, Facebook shares fell another 3% after PepsiCo (DYNAMISM), Hershey (HSY) and Starbucks (SBUX) joined the boycott of Facebook ads this weekend.
Netflix, a member of FANG and IBD Leaderboard, gave up a buy point of 459.07 in a flat base amid nearly 5% decline on Friday. Look for a 50-day moving average test this week. A sudden break in this level of support would be a sell signal. The actions ended Friday about 2% above the 50-day line.
According to commentary from the IBD ranking, “Netflix is below the point of purchase and its 10-day moving average. It was raised to a full position on June 22. ”
According to IBD Stock Checkup, the Netflix stock has an IBD composite score of 98 out of the 99 highest possible, placing it in the top tier of growth stocks. The composite rating – an easy way to identify high-growth stocks – is a mix of key fundamental and technical measures to help investors assess the strengths of a stock.
Dow Jones Leaders: Apple, Microsoft
Among the main Dow Jones stocks, Apple rose slightly on Monday morning as the stock continues to retreat from its record highs set on June 23.
The shares are far extended beyond the point of purchase 319.79 of a handful, which offered additional entry. The entry was an opportunity for investors to strengthen their positions. Meanwhile, stocks are still in the 20% to 25% profit-taking zone from the point of purchase 288.35 of a cup with handle.
The leader in Microsoft software made progress Monday morning. The stocks are back in the buying range above the buying point 187.61 of a cup with handle. The 5% purchase range is up to 197.
Stubborn, the RS line of action is still at new heights despite the current setback. The RS line measures the performance of a share price compared to the large market.
The token giant is a market idea from the IBD ranking and a long-term leader of the IBD.
Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen to learn more about growth stocks and the Dow Jones Industrial Average.
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