Dow Jones Futures Fall 100 points; After the stock market rally, the best quarter in recent decades, Kroger and the germs near the shopping areas | Investor Business Daily


Dow Jones futures fell more than 100 points before offsetting losses Tuesday night, as did S&P 500 futures and Nasdaq futures, after recovery from the coronavirus stock market Tuesday’s peaked best quarterly performance in decades. IBD Leaderboard titles Fortinet and Netflix have titled four titles in or near shopping areas, while Tesla has reached unprecedented heights.


The tech-rich Nasdaq composite led the coronavirus market rally on Tuesday with a 1.9% advance to resume the level of 10,000. The S&P 500 gained 1.5%, while the Dow Jones Industrial Average lagged 216 points, or 0.85%, due to Boeing(BA) 5.75% diving.Classification stocks Fortinet (FTNT) and Netflix (NFLX) rebounded from key support levels on Tuesday, while Kroger (KR) and Cabbage farmers market (SFM) are approaching new points of purchase. Auto-electric manufacturer You’re here (TSLA) has reached unprecedented heights. Dow Jones Action Leader Apple (AAPL) is right next to its historic peaks, while Microsoft (MSFT) set a record on Tuesday.

After the stock market closed on Tuesday, FedEx (FDX) published solid quarterly results. FedEx stocks jumped about 9% after closing.

Dow Jones Futures Today

Futures on Dow Jones fell 0.4% from fair value, while futures on S&P 500 fell 0.3%. Nasdaq 100 futures fell 0.15% from fair value. Keep in mind that overnight action on Dow Jones and elsewhere does not necessarily translate into actual transactions during the next regular trading session.

US Stock Market Today overview

Index symbol Price Loss of profit % Change
Dow Jones (0DJIA) 25811.65 +215.85 +0.84
S&P 500 (0S and P5) 3,105.63 +52.39 +1.72
Nasdaq (0NDQC) 10056.24 +182.09 +1.84
Russell 2000 (IWM) 143.26 +2.12 +1.50
IBD 50 (FFTY) 34.42 +0.71 +2.11
Last updated: 5:08 PM ET 6/30/2020

Among exchange traded funds, the innovator IBD 50 (FFTY) gained 2.1% on Tuesday. The High Growth Equity ETF is about 7% of its 52 week high.

The Invesco QQQ Trust ETF linked to the Nasdaq 100 (QQQ) was up 2% to close at 247.60. At the same time, the SPDR S&P 500 ETF (SPY) rose 1.5% to 308.94.

Against the backdrop of the coronavirus stock market recovery, the technology-intensive Nasdaq was up 12.1% for the year until Tuesday’s close. At the same time, the S&P 500 and DJIA are down 4% and 9.5% from the start of the year until the end of June 30.

For the quarter, the S&P 500 advanced 20%, its best quarter since 1998. The Nasdaq had its best quarter since 2001 with a gain of 30.6%. The Dow Jones Industrial Average recorded its largest quarterly increase since 1987, up 17.8%.

Coronavirus news

The coronavirus epidemic continues to spread in the United States. According to the Worldometer data tracker, the cumulative number of confirmed cases in the United States approaches 2.7 million on Tuesday. On Monday, new daily cases again exceeded 44,000. However, as new daily cases continue to increase, there has still been no 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 10.5 million on Tuesday, with more than 510,000 deaths linked to the virus.

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 The Big Picture on Monday, “The S&P 500 closed slightly below its 200-day moving average on Friday but remained above the psychologically significant level of 3000. It reached an intraday low on Monday of 2,999.90 . The Nasdaq composite rebounded 1.2% and small caps outperformed, with the Russell 2000 up 3.1%. ”

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.

Coronavirus stock market ETF strategy and how to invest in the new uptrend

Dow Jones News: Boeing

The Dow Jones Boeing Index fell 5.75% on Tuesday after Norwegian Air canceled orders for Boeing 737 Max and 787. The Oslo-based budget carrier announced that it had canceled 92,737 Max and five jet aircraft 787 Widebody Dreamliners. The cancellation also included service agreements with the aircraft manufacturer.

Boeing shares rose 14.4% on Monday after the company received FAA clearance to begin test flights on its 737 Max. Test flights began on Monday.

Boeing’s stock is still over 50% of its 52-week high.

Actions in or near shopping areas

In the Coronavirus market rally, the top four stocks in or near the shopping areas include Fortinet, Netflix, Kroger and Sprouts Farmers Market.

Fortinet shares

Fortinet, the leader in cybersecurity and action, Fortinet rose 2.85% on Tuesday, extending its rebound from the 50-day line.

According to commentary from the IBD ranking, “Fortinet broke out on a trend line on June 22, good for a secondary entry around 141. Now the stock is testing support at the 50-day moving average. Fortinet was raised to a full position on June 22 but was reduced to half a position on Monday. “

Netflix stock

On Monday, FANG equity leader Netflix found support on its 50-day moving average line and continued to rebound on Tuesday with a 1.7% gain. The shares remain below a buy point of 459.07 in a flat base after a breakout on June 22.

Netflix is ​​also a member of the IBD ranking.

Kroger Stock

Supermarket leader Kroger is nearing a point of 34.60 in a cup with a handle, according to analysis by MarketSmith. Shares fell 0.8% on Tuesday and are about 2% below entry.

Kroger was presented as Monday’s IBD 50 Stocks To Watch pick.

IBD Stock Checkup shows that the Kroger stock has a solid 93 on the highest possible IBD 99 composite rating, making it one of the highest ranked stocks in the supermarket industry. 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.

Cabbage producers market shares

Sprouts Farmers Market is just below a 26.15 point of purchase in a double bottom base. Stocks briefly passed entry early Tuesday before reversing to fall 1.2%.

Sprouts is ranked # 17 on the IBD 50 list of action ideas.

Tesla’s stock reaches unprecedented heights

Tesla shares jumped 7% to historic highs on Tuesday as the company’s market value exceeded $ 200 billion. The company has just turned 10.

Early Tuesday, JMP Securities raised Tesla’s price target from 1001 to 1050, while maintaining its market outperformance rating.

On Monday, an email to employees of CEO Elon Musk said: “The break-even point seems super tight. It really makes a difference for every car you build and deliver. Please do everything to ensure victory! Meanwhile, Tesla’s production and delivery figures for the second quarter are expected in early July, likely later this week. Many Wall Street analysts estimate deliveries at around 70,000.

Tesla stock is about 25% above a buy point of 869.92 in a deep cup with handle. Investors should consider taking profits when a stock increases 20% to 25% from an appropriate point of purchase.

Stock market income: FedEx

Late Tuesday, delivery giant FedEx announced solid fourth quarter financial results. The company posted EPS of $ 2.53 on sales of $ 17.4 billion. FedEx stocks jumped about 9% after closing.

FedEx stock shapes a cup with handle with a purchase point of 150.09. Tuesday’s late action puts the stock in a potential buying zone. But the action has a low 40 on the best possible composite rating of 99 IBD.

A key flaw is the delayed relative line of force. FedEx has not been a big push since its historic high in January 2018.

The best growth stocks to buy and watch

Dow Jones Leaders: Apple, Microsoft

Among the top Dow Jones stocks, Apple on Tuesday ignored weak iPhone 5G shipping expectations to rebound 0.8%. The stocks are just 2% of the all-time highs.

The shares are far extended beyond the point of purchase 319.79 of a handful, which offered additional entry. Meanwhile, stocks are 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 rose 2.6% on Tuesday to reach a record level. The shares are once again extended above a buy point with a handle of 187.61 after a gain of 1.1% on Monday. The 5% purchase range is up to 197.

The rising RS share line is once again reaching new heights despite the current setback, indicating a strong outperformance in the stock market. 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 Dow Jones growth stocks and futures.


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