Dow Jones futures, along with S&P 500 futures and Nasdaq 100 futures, were lower early Tuesday, as the stock market rally set more record highs. Bitcoin surged over 18% after Tesla purchased $1.5 billion worth of the cryptocurrency. Tech titan Nvidia and Dow Jones leader Disney broke out past new buy point.
The stock market added to last week’s torrid gains, as the tech-heavy Nasdaq composite rallied 0.95%. The S&P 500 moved up 0.7%, while the Dow Jones Industrial Average climbed 0.8%.
Among the Dow Jones leaders, Apple (AAPL) rallied 0.1%, while Microsoft (MSFT) also rose 0.1%. Apple stock remains below its recent buy point, while Microsoft is now out of buy range. Nike (NKE) is approaching a new buy point after bullishly regaining a key level in recent sessions. Disney (DIS) broke out past a new buy point Monday amid a sharp rise.
Tesla (TSLA) rallied 1.3% Monday on Bitcoin news and is again nearing all-time highs. Shares dipped nearly 1% early Tuesday.
Apple, Microsoft and Tesla are IBD Leaderboard stocks. Nvidia was the IBD Stock Of The Day, while Dropbox was Monday’s IBD 50 Stocks To Watch pick. Meanwhile, Nike was featured in this week’s Stocks Near A Buy Zone.
Dow Jones Futures Today: Biden Stimulus Talks
Ahead of the stock market open Tuesday, Dow Jones futures and S&P 500 futures fell 0.15% vs. fair value. Nasdaq 100 futures lost 0.1%. Remember that trading in Dow Jones futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.
Late Friday, the House voted to confirm the fast track of President Biden’s $1.9 trillion stimulus package. The budget resolution allows the Biden stimulus plan to pass with a bare majority, instead of needing 60 Senate votes to avoid a filibuster.
President Joe Biden’s Twitter account stressed the importance of acting quickly, “We don’t have a second to waste when it comes to delivering the American people the relief they desperately need. I’m calling on Congress to act quickly and pass the American Rescue Plan.”
Meanwhile, House Speaker Nancy Pelosi said the bill would be passed by the end of the month.
U.S. Stock Market Today Overview
Last Update: 4:36 PM ET 2/8/2021
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