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Dow Jones Futures: Bulls Run Past Google; 7 Stocks In Buy Zones, MicroStrategy Dives

Eli GrantThursday, 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.

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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SmallVegetable4365
11/22
$GOOGL Perishing Square is among the latest additions to the list of Hedge funds betting on the stock. It's anticipated to reach $200.
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ReindeerApart5536
11/22
$MSTR I'm rooting for an open at $600. Love it when the bears are crying on this one. Their whole argument is based on leverage, tulips, and past price action. Meanwhile, they're furious because they're over-leveraged, front-running, and poor at risk management. They just don't get supply and demand. That's classic.
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Fit-Possibility-1045
11/22
$MSTR has hit its lowest NAV in months — a great opportunity to buy!
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Affectionate_You_502
11/22
Stock Market Recap: MicroStrategy Takes a Hit, Snowflake Soars The stock market saw some major shifts this week, with MicroStrategy taking a hit after Citron Research issued a scathing report, and Snowflake shares soaring following impressive earnings and a significant revenue increase. MicroStrategy's stock declined by 16% after Citron Research expressed concerns about the company's valuation, arguing that it was overvalued relative to Bitcoin fundamentals. Despite this, Citron still has a positive outlook for Bitcoin, but feels that investing in MicroStrategy stock is no longer the most efficient way to gain exposure to the cryptocurrency. MicroStrategy's market cap now stands at $89 billion, down from its peak during the summer. On the other hand, Snowflake had a stellar quarter, with its stock surging by 32.71% after announcing impressive earnings and a 28% revenue increase last quarter. The company also projected $3.43 billion in fiscal 2025 product revenue, implying 29% growth. Other standout performers this week include Oklo, which jumped 20.43% after announcing its proposed acquisition of Atomic Alchemy, marking its expansion into the radioisotope market. Reddit gained 15.96%, BJ's Wholesale Club rose 8.24% after beating third-quarter earnings estimates, raising full-year guidance, and announcing its first membership fee hike in seven years. Cloudflare climbed 8.05%, continuing its upward momentum on better-than-expected growth in its cloud security offerings. The stock market also saw a slew of companies experiencing significant declines, including PDD Holdings, which tumbled 10.64% after missing earnings and revenue expectations. Coinbase fell 7.74% after Galaxy Digital's Michael Novogratz warned of an eventual pullback, and Baidu fell 5.90% as the Chinese tech company reported a 3% year-over-year revenue decline last quarter, despite growth in its AI cloud business. Alphabet slid 4.74% amid concerns that the DOJ may push for the divestiture of its Chrome browser to address monopoly claims, while MicroStrategy also took a hit after Citron Research issued its report. Overall, the stock market saw some major shifts this week, with several companies experiencing significant gains and losses. Investors will be closely monitoring the market in the coming weeks and months, looking for trends and opportunities to capitalize on.
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krogerCoffee
11/21
@withdrawn @MillennialHomeOwner High Watch Alert ⚠️ 📢 ALL CRYPTO RELATED INVESTMENTS😳😳😳 GENSLER GONE ULTRA BULLISH CRYPTO!!! HUGE DEVELOPING NEWS!!! Trump Holdings & Investments Bullish!!! Trump Possibly No-Tax Gains USA Issued Crypto CRYPTO Bull Cycle 100% Underway💪 New Favorable Policies & Future Appointments Miners, Balance Sheets, Revenues, Investments all bullish in crypto markets abroad🪙💰📈👌 $FLOKI Just listed on $COIN bull cycle as it's a very cheap token coin during this unprecedented cycle heading into 2025✔️ $CVX ChatGPT super bullish on Finance tokens coins like unknown gem $CVX $CLV $LINK $UNI $AAVE $AERO $LUNC WLUNA $JUP $COMP $HBAR $XRP $SOL $DOT $XTZ $AVAX $ADA $MATIC $ETH $ATOM $RIOT $MARA $HIVE $PYPL $CRO $BNB $HOOD $CLSK $MSTR $BTC
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TheMushroomGuy
11/21
GOOGL troubles won't stop bulls; tech rally strong
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ZhangtheGreat
11/21
Nvidia moonshot, buy the dip strategy paying off 🤑
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pfree1234
11/21
Anyone else seeing Walmart as a safe bet with inflation pressures cooling? Their earnings report was fire, and a solid outlook boost. Holding some $WMT to ride the stability wave. Diversification is key, folks. 📈
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serenity561
11/21
Buying $NVDA after those upgrades, feels like catching a falling knife turned upward rocket 🚀. Riding those waves is what this game's all about.
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Charming_Raccoon4361
11/21
MSTR going down, time to accumulate more $BTC
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Historical_Hearing76
11/21
Geopolitical noise? Nah, just noise for day traders
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MarketGuru
11/21
$GOOGL dipped, but I'm skeptical about DOJ's play here. Might be a solid entry point for long-term holders. 📉🤔
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Surfin_Birb_09
11/21
Strong earnings boost $WMT, bullish signals everywhere
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