Dow Jones futures rose slightly on Thursday night, along with S&P 500 futures and Nasdaq futures. The stock market rally was a wild session on Thursday, with key indicators lowering further support levels before asking for a surge in support.
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The Federal Reserve said large financial companies such as JP Morgan Chase (JPM) and Bank of America Assuming the (BAC) will pass the latest round of stress tests, buybacks and dividends may begin to rise on June 30. Earlier, the Fed said it could start higher shareholder returns in the first quarter. But JPM stock and Bofa were a little higher.
Investors should look for stocks that hold up well in the current market, with strong fundamentals or at least the appearance of strong earnings. This stock market rally is as fun as a spine tap, so here are 11 stocks for your watch list: ASML Record (ASML), General Motors (GM), Facebook (FB), Scots Miracle-Grew (SMG), Ubiquity (UI), Disney (DIS), Target (TGT), Loves (LOW), Mosaic (MOS), Deere (DE) and ArcelorMittal (MT)
GM stock and ArcelorMittal IBD are on the leaderboard. Deer Stock, ASML and Scots-Miracle-Gr are on IBD50. ASML stock is on IBD’s long-term leaders’ watch list. Deer stock is on the IBD Big Cap 20. The loan stock was IBD stock The F The Day.
Dow Jones futures today
Dow Jones futures are up 0.15% in annual value. S&P 500 futures rose 0.2% and Nasdaq 100 futures rose 0.3%.
Remember that overnight action in Dow futures and elsewhere does not necessarily translate into actual trading in the next regular stock market session.
Join IBD experts as they analyze the additional stocks in the stock market boom on IBD Live.
Corona virus news
Worldwide coronavirus cases have reached 126.05 million. Covid-19 deaths topped 2.76 million.
U.S. Coronavirus cases have hit .0.77 million, with more than 559,000 deaths.
Stock market rally
The stock market boom was a wild session, with a sharp decline before the rally.
The Dow Jones Industrial Average rose 0.6% in trading on Thursday. The S&P 500 index rose 0.5%. The Nasdaq composite rose 0.1%. Intraday, the Nasdaq fell 1.35% after skipping 2% on Wednesday. Russell 2000, down hard intraday, went up 2.2%
In the best ETFs, the Innovator IBD 50 ETF (FFTY) rose 1.3% and the Innovator IBD Breakout Opportunities ETF (BOUT) jumped 0.65% after two major losses of growth ETF. Ethereum Extended Tech-Software Software Sector ETF (IGV) fell 0.4%. Vanek Vectors Semiconductor ETF (SMH) is up 0.3%. SMH includes ASML stock and many other chip-gear manufacturers that are relatively well-held.
The SPDR S&P Metals and Mining ETF (XME) has popped up 2.2% and the Global X US Infrastructure Development ETF (PAVE) 2.1%. U.S. Global Jets ETF (JETS) is up 2.5% after some losses.
Reflecting on more speculative story stocks, ARK Innovation ETF (ARKK) strengthened by 0.3% and ARK Genomics ETF (ARKG) by 0.3%.
In the day stock in the buy zone as the innovation boom
To see Facebook stock, ASML, GM stock
So why consider ASML Stock, GM, Facebook, SMG, Ubiquity, Disney, Target, Loves, Mosaic, Deere and ArcelorMittal for your watchlist? They hold rationally, with strong or minimal relative strength lines improving. Many are showing rebounding profits with the prospect of tangible growth ahead.
Ubiquity stocks and SMGs are building nice looking bases, especially impressive given the market conditions in Chopali. Some of these stocks are technically in the buy zone, including ArcelorMittal, Low and Disney stocks. Some others in a good market like Facebook Stock, GM or ASML will be seen as “actionable”. But it is not a good market. Recent breakouts continue to struggle or break as former development leaders move to the bottom of their march or beyond.
But all of this is worth watching, and offers a window into various positive areas. It is not clear whether stocks or sectors will lead to a further strong stock market boom, so you want to cast a huge net. Be sure to consider the above 11 stocks, as well as many competitors and peers from other sectors. Homebuilders, oil producers and financiers, including JP Morgan and BAC stocks, are also worth a look.
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Market Rally Analysis
The stock market rally on Wednesday led to a “correction under pressure” and has not changed in Thursday’s volatile move. Intraday, the Dow Jones fell its 21-day lethal moving end while the S&P 500 fell below its 50-day average and the Russell 2000 almost fell compared to its March. It is positive that they were back on the move from sharp intraday losses, with the S&P 500 retreating from its 21-day line.
At least the market situation did not worsen. But they are not physically better.
The Nasdaq Composite has some work to do to move above its 21-day line. The tech-heavy index will not look really healthy until it rises above its 50-day line and reaches a short-term high on March 16. The Dow Jones and S&P 500 need to keep holding key levels.
Most importantly, the recent breakouts are not working. Many stock charts are damaged and need weeks, maybe months to repair. Sure, it’s good that MT stock held in the buy zone on Thursday, but resisted selling until there was resistance in plenty of stocks.
If you have a few pilot positions or long-term winners, that’s fine. But investors should mostly have cash and not think about new purchases.
Perhaps Thursday’s intraday lows will boldly mark the beginning of a new bullish era. But this could be a short respite before key indicators sink below the recent bottom. If the renewed stock market has a foothold in the boom, there will be many opportunities to jump into it.
As IBD founder Bill O’Neill famously said, all stocks are bad until it goes up. There haven’t been many good stocks right now.
Read the big picture every day to stay in tune with the market direction and leading stocks and sectors.
Please follow Ed Carson on Twitter IBD_ECarson For stock market updates and more.
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