On Monday, the Dow Jones Industrial Average rose 0.7%. The S&P 500 rose 1.3%, while the Nasdaq led the way, up 1.9%. Crude oil prices rose more than 2%. Bitcoin jumped 7%. And the 10-year Treasury yield jumped to 1.53%.
Among the leaders of the Dow Jones, Apple (AAPL) traded up 2.2%, while Microsoft (MSFT) rose 2.1% in today’s stock market. Nike (NKE) remains below a recent buy point despite gaining 1.1% on Monday.
Head of electric vehicle Tesla (TSLA) rose 5.1% on Monday. Pair EV Rivien (RIVN) jumped nearly 7%, while Lucid engines (LCID) gained 6.5%. Chinese leader in electric vehicles Li Auto (LI) soared after making a profit, while Xpeng Engines (XPEV) increased slightly.
Among the best stocks to buy and watch, Nucor (NUE), Pioneer of natural resources (PXD), Pfizer (PFE) and Zim Integrated Shipping (ZIM) are close to new shopping areas.
Microsoft, Nucor and Tesla are stocks in the IBD ranking. Apple was featured in this week’s Stocks Near A Buy Zone article. And Zim was highlighted in last week’s IPO Leaders story.
Dow Jones Futures Today: Omicron Variant; Powell, Yellen on the bridge
Before the stock market opened on Tuesday, Dow Jones futures fell 0.9% from fair value, while S&P 500 futures fell 0.75%. Futures contracts on the Nasdaq 100 fell 0.4% from fair value. Keep in mind that trading futures contracts on Dow Jones and elsewhere does not necessarily translate into actual trading in the next regular trading session.
Among exchange-traded funds, Innovator IBD 50 (FFTY) rose 1.6% on Monday. The Nasdaq 100 tracker Invesco QQQ Trust (QQQ) gained 2.2%. And the SPDR S&P 500 ETF (SPY) rose 1.2%.
Snapshot of the US Stock Market Today
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Last Modified: 4:38 PM EST 11/29/2021
Early Tuesday, Modern (MRNA) CEO Stéphane Bancel said he expects existing vaccines to be less effective against the new variant of omicron, in an interview with the Financial Times.
“There are no people, I think, where [the effectiveness] is of the same level. . . we’ve had with Delta, ”Bancel said.
Early Tuesday, Treasury Secretary Janet Yellen and Federal Reserve Chief Jerome Powell will testify before a Senate committee in a hearing titled “CARES Act Oversight of the Treasury and Federal Reserve: Building a Resilient Economy.”
Stock ETF strategy and how to invest
Stock exchange rally
The stock market rebounded from Friday’s sell-off, as major stock indexes closed with big gains on Monday.
On Monday, The Big Picture commented, “Judging by how the major indices have performed, regular readers of this column could easily see that fund managers have been showing more optimism for the big guys and the megacaps. paying utilities sectors. But they also showed a salty outlook towards other areas of the market. “
For daily stock market commentary, be sure to check out The Big Picture from IBD.
Five best Dow Jones stocks to watch right now
Dow Jones Stocks to Buy and Watch: Apple, Nike
Apple rebounded from the 3.2% loss on Friday and 2.2% on Monday. The stocks are at the top of the buy range above a buy point of 153.27 on a handle-cup basis, according to IBD MarketSmith chart analysis. The 5% buy zone tops out at 160.93.
Retail leader Nike is about 2% below the 174.48 buy point of its cup base after Monday’s 1.1% gain.
Dow Jones Benefits: Salesforce
Dow Jones Software Leader Selling power (CRM) regained its 50-day benchmark bullish on Monday’s 4.4% rise. Shares remain broad beyond a buy point of 275.32 in a handle cup despite their recent pullback.
As of Tuesday night, Salesforce earnings per share are expected to fall 89% to 92 cents from a year ago. Salesforce revenue expected to climb 25% to $ 6.8 billion
Stock market benefits: Ambarella, NetApp, Zscaler
Ambarella (AMBA), NetApp (NTAP) and Zscaler (ZS) will release its quarterly results after the close on Tuesday.
Chip designer Ambarella is expected to earn 49 cents a share on sales of $ 90.3, representing year-over-year increases of 444% and 61%, respectively. The action found much-needed support for its 50-day line on Monday.
NetApp profits are expected to rise 15% to $ 1.21 per share year-over-year on revenue of $ 1.55 billion. NTAP stocks are tracing a flat base with a buy point of 94.79. Stocks are trading above their key 50-day moving average again after Monday’s 3.6% rise.
Cybersecurity leader Zscaler is expected to earn 12 cents a share on sales of $ 212 million. Shares closed on Monday just 5% off their 52-week high after Monday’s 5.65% advance.
Stocks to buy and watch: Nucor, Pioneer, Pfizer, Zim
IBD ranking action Nucor tried to break above a 119.42 buy point on a handle-cup basis, but is well below the entry after Monday’s 1.7% drop. Shares are about 6% lower than the last entry.
Drug giant Pfizer is set to surpass a buy point of 51.96 in a cup base after a strong breakthrough on Friday following the newly discovered omicron variant. Shares reversed 3% lower on Monday but are still above the buy point. The 5% buy zone tops out at 54.56.
Pfizer was the IBD title of the day Friday. Friday, vaccine partner BioNTech (BNTX) said it would take two weeks to determine whether its vaccine will be able to fight the new variant.
Tuesday’s IBD stock of the day, Pioneer Natural Resources, continues to build a flat base with a buy point of 196.74 amid Monday’s 2.6% gain.
IPO leader Zim Integrated is building a mug base with handle with a buy point of 60.19, according to IBD MarketSmith’s chart analysis. The title rose more than 8% on Monday and is getting closer to the new entry.
Join the IBD experts as they analyze the major stocks in the current bullish stock market trend on IBD Live
Electric vehicle stocks: Li Auto, Xpeng, Lucid Motors, Rivian
Li Auto is trying to get past the buy point of 34.93 for a cup base with handle. The stock jumped 11.1% on Monday before cutting gains to 6.4% after the company announced its quarterly results before the market opened. The shares closed just below the entry.
Rival Tesla said it lost 6 cents per adjusted share, missing analysts’ targets. But revenues jumped 210% in local currency to $ 1.21 billion, beating Street’s estimates. Li Auto delivered 25,116 vehicles in the third quarter. The company said fourth-quarter revenue is expected to jump 113% to 127% in local currency to $ 1.37 billion to $ 1.46 billion.
Xpeng Motors is extended past its buy point of 48.08 in a choppy cup base after big gains last week. XPEV stock rose 0.5% on Monday.
Lucid Motors shares traded up 6.5% on Monday, largely recovering from Friday’s 1.6% decline. LCID stock remains well expanded beyond a buy point of 28.49 in a mug base with handle.
Rivian’s initial hot public offering rose 6.8% on Monday, ending a two-day losing streak and rebounding from Friday’s 2.4% loss.
RIVN shares closed on Monday at around 33% of their post-IPO highs. The downside is positive potential for investors who remain disciplined and wait for an IPO foundation to form before considering a buy. The recent weakness is the start of the formation of Rivian’s first base, but the last two weeks of course have not been very constructive given the heavy losses.
Tesla stock rose more than 5% on Monday, recovering from Friday’s 3.05% slippage. The shares traded as high as 1,243.49 on November 4, but the stock closed on Monday around 9% from its 52-week high.
TSLA stocks remain well above a buy point of 764.55 in a handle cup, as well as earlier entries at 700.10 and 730. The chart also showed an alternate entry at 900.50.
Dow Jones Executives: Apple, Microsoft
Among the major Dow Jones stocks, software giant Microsoft rose 2.1% on Monday, erasing almost all of Friday’s 2.4% drop.
On October 18, Microsoft stock broke a flat base buy point of 305.94. The 5% buy zone peaked at 321.24, so the title is extended.
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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