Dow Jones futures, along with S&P 500 futures and Nasdaq 100 futures, were higher late Monday amid key coronavirus stimulus talks between President Joe Biden and a group of Republican senators. GME stock plunged 30% amid the ongoing short squeeze. Tesla stock surged on a price-target hike Monday, while Dow Jones leader Apple is again approaching a buy point.
The stock market recovered from Friday’s sell-off, as the tech-heavy Nasdaq composite surged 2.55%. The S&P 500 rallied 1.6%, while the Dow Jones Industrial Average followed up with a 0.8% gain.
Tesla (TSLA) recovered from Friday’s 5% sell-off, racing 5.8% higher Monday. Among the Chinese EV leaders, Nio (NIO) fell further below its buy point, while Xpeng Motors (XPEV) remains far from its old highs. Both reported strong January sales. Li Auto (LI) is expected to report January sales in the near future.
Among top stocks in or near buy zones, AdaptHealth (AHCO) broke out past a new buy point and is in buy range, while PayPal (PYPL) continued to rebound from its key 50-day support level. Meanwhile, ServiceNow (NOW) is just under its own buy point.
Dow Jones Futures Today: Biden Stimulus Talks
After the close Monday, Dow Jones futures rallied 0.2% vs. fair value, while S&P 500 futures rose 0.15%. Nasdaq 100 futures were up 0.3% vs. fair value. Remember that trading in Dow Jones futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.
At 5 p.m. ET on Monday, President Biden is expected to discuss potential coronavirus stimulus plans with a group of 10 Republican senators at the White House. On Sunday, the group proposed a $618 billion package, far less than Biden’s $1.9 trillion plan. The Republican plan includes new stimulus checks of $1,000 per person, depending on income level.
U.S. Stock Market Today Overview
Last Update: 4:28 PM ET 2/1/2021
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Go to the news source: Dow Jones Futures Rise As Biden Meets With Republicans; GME Stock Dives 30%