Dow Jones Futures: Bulls Run Past Google; 7 Stocks In Buy Zones, MicroStrategy Dives
Thursday, Nov 21, 2024 5:28 pm ET
4min read The Dow Jones Industrial Average (DJIA) futures surged past Google's regulatory woes, with seven stocks entering buy zones and MicroStrategy (MSTR) shares diving. The DJIA futures hit session highs Thursday morning, buoyed by positive U.S. economic data and a rebound in Nvidia shares. Meanwhile, Alphabet Inc. (GOOGL) stock slid 6% following the Department of Justice's (DOJ) push for a Google Chrome sale, but analysts remain skeptical of the most draconian measures.
The DJIA futures climbed 220 points, or 0.5%, to 43,737, while the S&P 500 futures rose 32 points, or 0.5%, to 5,969. Nasdaq-100 futures gained 115 points, or 0.6%, to 20,869. Nvidia (NVDA) shares rebounded 1.9% to $148.30 in premarket trading, following a wave of price-target upgrades on Wall Street.
Seven stocks entered buy zones, driven by various fundamentals and catalysts:
1. Nvidia (NVDA): Positive price-target upgrades by Wall Street analysts.
2. Walmart (WMT): A strong earnings report and an increase in its outlook.
3. Target (TGT): Weak earnings report and a lowered outlook, creating a buying opportunity.
4. Comcast (CMCSA): Confirmation of plans to spin off several cable channels into a separate, publicly traded company.
5. MicroStrategy (MSTR): A record high for Bitcoin, which the company holds a significant amount of.
6. Tesla (TSLA): A strong month-to-date rally, with the stock up 38% and on track for its best month since January 2023.
7. Amazon (AMZN): A 1% gain, adding to its recent strength, as investors shrug off geopolitical tensions.
Meanwhile, MicroStrategy (MSTR) shares dived 12% as the cryptocurrency hit another record high this morning. The company, one of the world's largest holders of bitcoin, has seen its stock surge over 500% in 2024, driven by the company's aggressive bitcoin buying strategy.
The broader market shrugged off geopolitical tensions, with the S&P 500 and Nasdaq Composite gaining 0.5% and 0.6% respectively. Investors rotated out of growth stocks and into cyclical plays, with bank stocks, energy stocks, and consumer discretionary stocks leading the charge. The financial sector, in particular, saw strong gains, with JPMorgan Chase (JPM) and Bank of America (BAC) up 3.5% and 4.5% respectively.
The bullish trend in Dow Jones futures was driven by a broad-based rally, with several sectors and stocks contributing to the momentum. The financial sector led the charge, with bank stocks surging on better-than-expected earnings. The energy sector also gained ground, with ExxonMobil (XOM) and Chevron (CVX) rising 2.5% and 3% respectively, buoyed by a rebound in oil prices. In the tech sector, Microsoft (MSFT) and Apple (AAPL) added 1.5% and 2% respectively, as investors rotated out of growth stocks and into cyclical plays. Additionally, the consumer discretionary sector saw strength, with shares of Home Depot (HD) and Walmart (WMT) rising 2% and 1.5% respectively, as retail sales data pointed to a robust holiday shopping season.
In conclusion, the DJIA futures surged past Google's regulatory woes, with seven stocks entering buy zones and MicroStrategy (MSTR) shares diving. The broader market shrugged off geopolitical tensions, with investors rotating out of growth stocks and into cyclical plays. The bullish trend in Dow Jones futures was driven by a broad-based rally, with several sectors and stocks contributing to the momentum. Despite regulatory headwinds for Google, the overall market remained resilient, buoyed by strong corporate earnings and technological advancements.
The DJIA futures climbed 220 points, or 0.5%, to 43,737, while the S&P 500 futures rose 32 points, or 0.5%, to 5,969. Nasdaq-100 futures gained 115 points, or 0.6%, to 20,869. Nvidia (NVDA) shares rebounded 1.9% to $148.30 in premarket trading, following a wave of price-target upgrades on Wall Street.
Seven stocks entered buy zones, driven by various fundamentals and catalysts:
1. Nvidia (NVDA): Positive price-target upgrades by Wall Street analysts.
2. Walmart (WMT): A strong earnings report and an increase in its outlook.
3. Target (TGT): Weak earnings report and a lowered outlook, creating a buying opportunity.
4. Comcast (CMCSA): Confirmation of plans to spin off several cable channels into a separate, publicly traded company.
5. MicroStrategy (MSTR): A record high for Bitcoin, which the company holds a significant amount of.
6. Tesla (TSLA): A strong month-to-date rally, with the stock up 38% and on track for its best month since January 2023.
7. Amazon (AMZN): A 1% gain, adding to its recent strength, as investors shrug off geopolitical tensions.
NVDA Market Cap
Meanwhile, MicroStrategy (MSTR) shares dived 12% as the cryptocurrency hit another record high this morning. The company, one of the world's largest holders of bitcoin, has seen its stock surge over 500% in 2024, driven by the company's aggressive bitcoin buying strategy.
The broader market shrugged off geopolitical tensions, with the S&P 500 and Nasdaq Composite gaining 0.5% and 0.6% respectively. Investors rotated out of growth stocks and into cyclical plays, with bank stocks, energy stocks, and consumer discretionary stocks leading the charge. The financial sector, in particular, saw strong gains, with JPMorgan Chase (JPM) and Bank of America (BAC) up 3.5% and 4.5% respectively.
The bullish trend in Dow Jones futures was driven by a broad-based rally, with several sectors and stocks contributing to the momentum. The financial sector led the charge, with bank stocks surging on better-than-expected earnings. The energy sector also gained ground, with ExxonMobil (XOM) and Chevron (CVX) rising 2.5% and 3% respectively, buoyed by a rebound in oil prices. In the tech sector, Microsoft (MSFT) and Apple (AAPL) added 1.5% and 2% respectively, as investors rotated out of growth stocks and into cyclical plays. Additionally, the consumer discretionary sector saw strength, with shares of Home Depot (HD) and Walmart (WMT) rising 2% and 1.5% respectively, as retail sales data pointed to a robust holiday shopping season.
In conclusion, the DJIA futures surged past Google's regulatory woes, with seven stocks entering buy zones and MicroStrategy (MSTR) shares diving. The broader market shrugged off geopolitical tensions, with investors rotating out of growth stocks and into cyclical plays. The bullish trend in Dow Jones futures was driven by a broad-based rally, with several sectors and stocks contributing to the momentum. Despite regulatory headwinds for Google, the overall market remained resilient, buoyed by strong corporate earnings and technological advancements.
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