Dow Jones Futures: 2022's First Real Market Rally Gains Steam; Five Stocks Flash Buy Signals
Dow Jones futures will open on Sunday evening, along with S&P 500 futures and Nasdaq futures. The stock market rally has signaled a major character change, with the Dow Jones, S&P 500 and Nasdaq composite boasting their best weekly gains since 2020 as they all staged follow-through days to confirm the new uptrend.
After selling off Monday, the major indexes roared higher over the next four days, reclaiming key resistance levels. Meanwhile, a growing number of actionable stocks are showing up.
Market conditions are easily the healthiest they've been in 2022. Of course, that's not saying much.
Get your stock shopping lists ready and make some stock purchases, but don't go on a buying frenzy.
Stocks To Watch
ANET stock, Juniper Networks (JNPR), Nvidia (NVDA), Broadcom (AVGO) and Palo Alto Networks (PANW) are all trading right around buy points.
Arista Networks (ANET) and JNPR stock are flashing early entries within solid consolidations. Nvidia stock is an aggressive entry as it breaks a long downtrend. PANW stock is back above an old buy point, though it's more complicated than that. AVGO stock is right below an early entry, though an aggressive trader could already be taking a position.
Microsoft stock and Google parent Alphabet (GOOGL) are quickly moving into position once again. Meanwhile, Tesla stock has run up sharply, clearing some key levels. While Tesla (TSLA) doesn't have as obvious a buy signal as Nvidia stock, its strength is a positive sign for highly valued growth plays.
Tesla is expected to begin deliveries Tuesday from its Berlin-area factory, which will be celebrated with another event at the plant. Also on Tuesday, Nvidia holds an analyst day, along with a keynote address from CEO Jensen Huang at the chipmaker's annual GTC conference.
Tesla, Arista Networks, Nvidia and Microsoft stock are on IBD Leaderboard. ANET stock also is on SwingTrader. Google stock and Microsoft (MSFT) are on IBD Long-Term Leaders. Arista, Nvidia and AVGO stock are on the IBD 50. Broadcom was Friday's IBD Stock Of The Day. Juniper Networks was Thursday's Stock Of The Day.
The video embedded in this article discusses the big market week and analyzes Arista Networks, Broadcom and Google stock.
Dow Jones Futures Today
Dow Jones futures open at 6 p.m. ET on Sunday, along with S&P 500 futures and Nasdaq 100 futures.
Remember that overnight action in Dow futures and elsewhere doesn't necessarily translate into actual trading in the next regular stock market session.
Join IBD experts as they analyze actionable stocks in the stock market rally on IBD Live
Stock Market Rally
The stock market rally sold off Monday, but the major indexes roared back for their best weekly gains since November 2020. The Dow Jones Industrial Average jumped 5.5% in last week's stock market trading. The S&P 500 index 6.2%. The Nasdaq composite surged 8.2%.
The small-cap Russell 2000 jumped 5.3%, its best weekly gain in more than a year.
The 10-year Treasury yield ran up 14 basis points to 2.15% last week. The 2-year yield has risen to 1.95%. The narrow yield spread signals some concern about economic growth.
U.S. crude oil futures fell more than 4% last week to $104.70 a barrel, but rebounded from well below $100 at one point.