Dow Jones futures will reopen Sunday evening, along with S&P 500 futures and Nasdaq futures, with investors looking for signs that the stock market rally will find support or keep retreat. Last week the major indexes broke through key levels, with leading stocks also struggling.
The stock market rally may be undergoing a character change. Investors need to be more cautious, perhaps reducing exposure, especially if they haven’t already done so.
The GameStop (GME) saga is likely far from over. GME stock, AMC Entertainment, Koss (KOSS), Express (EXPR) and other short-squeeze plans had another mammoth week of ultra-volatile swings. But the risks are extremely high. Investors are better served following a consistent strategy and trading rules, not taking wild bets.
China-based Tesla (TSLA) EV rivals Nio (NIO), Xpeng Motors (XPEV), Li Auto (LI) and BYD Co. (BYDDF) will report January sales in the coming days, perhaps as early as Monday. All four EV stocks suffered sharp weekly losses, with Nio stock closing slightly below a buy point. Tesla stock also retreated last week following its earnings miss.
Keep an eye on MSFT stock. Microsoft (MSFT) retreated below a buy point Friday, but closed the week with solid gains. It’s the best-looking tech titan after fellow Dow Jones component Apple (AAPL) reversed lower last week on its earnings.
Dow Jones Futures Today
Dow Jones futures will open Sunday at 6 p.m. ET, along with S&P 500 futures and Nasdaq 100 futures.
Coronavirus cases worldwide reached 102.84 million. Covid-19 deaths topped 2.22 million.
Coronavirus cases in the U.S. have hit 26.52 million, with deaths above 447,000. The actual number of Americans who have contracted Covid-19 may have topped 100 million.
New Covid cases are falling sharply in the U.S., with hospitalizations also tumbling. Deaths appear to have peaked as well. California has lifted restrictions on much of the state, while New York City will allow indoor dining starting on Valentine’s Day.
Coronavirus vaccinations have picked up over the several days, topping one million shots for 10 straight days. Nearly 29 million shots of the Pfizer or Moderna (MRNA) vaccine have been given as of Jan. 29. While the country is months away from herd immunity, as vaccinations expand, that should start to have a impact on the spread.
Meanwhile, more vaccines are on the way.
Novavax (NVAX) said Thursday night that its Covid vaccine was 89.3% effective in a late-stage U.K. trial But it was 95.6% effective vs. the original coronavirus strain and 85.6% effective vs. the highly…
Go to the news source: What’s Next For Stock Market Rally — And What Should You Do? GME Stock, Nio In F…