The Dow Jones futures rose slightly on Tuesday night, along with S&P 500 futures and Nasdaq futures. The stock market rebounded on Tuesday, hitting resistance on the natural front after a big rally on Monday. But the main index found support at the natural level.
X
Viva Systems (VEEV), FuboTV (FUBO), Marwal Lifescens (MRVI) titles significant earnings reports.
Growth stocks did not have a good day. Zoom video (ZM) and Target (TGT) faced a nasty coup after earning. Tesla (TSLA) competitors Neo (NIO), Expang (XPEV) and Li Auto Toe (LI) Mutable auto toe giants when EV stocks are sold on the news as conflict General Motors (GM) and Ford (F) Make a bullish move.
Meanwhile, Rocket companies (RKT) lived up to his name. RKT stock rose 71% to 41.60, hitting a record high as heavy short mortgage payer became the latest social media powered squeeze play. Rocket stock jumped 10% on Friday, followed by 11% on Monday. In overnight trading, shares of RKT fell slightly.
IBD Stock Buy The Points on The F-Days Strong Earnings, ‘Tons of Cash’
Key earnings
Marwai’s earnings beat the company’s combination considering Pfizer (PFE) and Biotech (BNTX) coronavirus vaccine. Marwai sees revenue more than double in 2021. MRVI stocks traded up about 20% overnight, showing a new high after the stock closed 3.9%.
Viva’s earnings and revenue peak forecast while guiding the boom. VEEV stock has been trading broadly. Shares fell 2.2% on Tuesday, around the 50-day line, after a breakout failed in late February.
FuboTV reported broader losses than expected but beat on revenue and subscriber growth. Shares of FUBO fell in overnight trading. The stock rose 8% on Tuesday, retracing the 50-day line and breaking the downtrend in a very deep handle in a very deep consolidation. Game-focused streaming operator operator sports online sports betting is moving to go into the game.
Tesla stock is on the IBD Leaderboard and IBD50. Viva stock is on IBD Long-Term Leaders.
Dow Jones futures today
Dow Jones futures are 0.2% higher than fair value. S&P 500 futures rose 0.2%. Nasdaq 100 futures up 0.25%.
Remember that overnight action in Dow futures and elsewhere does not necessarily translate into real 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
Coronavirus cases worldwide reached 115.26 million. The death of the Covid-19 topped 2.55 million.
U.S. In coronavirus cases have crossed 29.36 million, in which 528,000 people have died.
The White House now says enough coronavirus vaccine will be available to every American by the end of May. Despite increased vaccinations in January and February, Biden’s administration sought to lower expectations. Of Johnson and Johnson (JNJ) One shot treatment has just rolled.
Stock market rally
The stock market rally left some strong broad-bed gains on Monday. The Dow Jones Industrial Average fell 0.5% in Tuesday’s trading. The S&P 500 index retreated 0.9%. Nasdaq combined 1.7%.
Growth stocks rebounded once again.
Among the best ETFs, the Innovator IBD50 ETF (FFTY) fell 1.65%, while the Innovator IBD Breakout Chances ETF (BOUT) sank 2.3%. Eichers Extended Tech-Software Software Sector ETF (IGV) fell nearly 2%, with Zoom stock a significant component. Vanek Vectors Semiconductor ETF (SMH) fell 3.1%.
Reflecting on more speculative story stocks, Arc Innovation ETF sank 2.3% and Arc Genomics ETF 1.9%.
Zoom video, vs. target
Zoom video earnings crushed Crush Views late Monday while video conferencing giant guided bullish revenue. Target earnings also beat out amid booming digital sales.
After rising more than 10% overnight – Zoom stock rose 7.4% on Tuesday morning – but fell almost immediately. ZM stock closed 9% below its 50-day line at 372.79. It is not clear why Zoom sold. But investors need to sell on technology, not waiting for the negative fundamental news to become clear.
The target stock also rose soon after Tuesday’s opening, bouncing off its 50-day line and downtrending, clearing two solid buy signals. But Target Management said it would spend heavily on fast-growing operations to increase online operations. The target stock closed below its flat base at 6.8%.
EV stocks lose charge
Neo shares fell 13% to 43.29. It is the lowest since December 14. Late Monday night, Neo reported losses in the much-anticipated fourth quarter late Monday. The premium EV maker had lower delivery versus February between Lunar New Year closures and celebrations. Neo also said the chip shortage is growing.
Expang stock and Li Auto stock fell 11% and 8.2%, respectively. February sales at Expang and Li Auto Tom also declined during New Year celebrations, although deliveries were in triple digits a year earlier.
Tesla stock fell 4..4545% to close at 6 686..44 hitting resistance near 45 bho downtrend. Shares jumped 6.4% on Monday. TSLA stock is equal to its 50-day line.
GM, Ford Stock Rev. Hire
GM stock rose 3% to 54.11. On Monday, General Motors rose 2.4%, extending Friday’s rise from the 10-week line, but it also moved above the trend line, getting above the 21-day line. Those factors gave the opportunity to buy early, but it is now starting to look a little expanded.
Ford stock jumped 4.8% to 12.55, with previous buy points of 12.14 and 12.25 and a three-year high clearing last week. The relative strength line for Ford stock is at a 52-week high.
Both GM and Ford are benefiting from strong SUV and truck sales while encouraging investors by spending heavily on EVs.
Stock market analysis
On Monday, the Nasdaq bounced back above its 0-day line, closing below its 21-day exponential moving average and the most recent high. The Dow Jones and S&P 500 jumped from their 50-day line, clearly removing their 21-day line from all-time levels. However, Monday’s average was below average and Friday’s level.
On Tuesday, the Nasdaq fell from its 21-day line. That session has been close to a low, returning more than half of Monday’s 3% increase, back to its 0-day line. The Big-Cap Nasdaq 100 undercut its 50-day. The Dow Jones and S&P 500 indexes declined modestly, finding support on their 21-day line.
With key indicators essentially resisting and supporting natural areas, it is difficult to take much action on Tuesday. The stock market is under pressure.
What to do now
Investors should keep the probability relatively low and be cautious about any new buying when the market direction continues.
If the Nasdaq breaks above the 21-day line and short-term highs, investors may start to become more aggressive. If the Nasdaq decisively breaks from last week’s low, the rally is likely to turn defensive.
Investors should pay attention to the real economy sectors and at least some of their portfolio should be dedicated to such stocks. They can lead the front of the market rally. Diversifying your leading stocks reduces the losses of most portfolios that are highly focused on speculative growth.
However, most stocks are likely to struggle if the market improves. Relative strength in market correction may still be a complete loser.
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.
You may also like:
Why this IBD tool makes it easy to search for top stocks
Catch the next big winning stock with Marketsmith
Want to make quick profits and avoid big losses? Try SwingTrader
The best growth stocks to buy and see
IBD Digital: Unlock IBD Premium Stock Listings, Tools and Analysis Today
