Dow Jones futures rose modestly overnight, along with S&P 500 futures and Nasdaq futures, with the December jobs report due Friday morning. The stock market rally on Thursday tried to rebound, but feeble gains turned to slim losses on the major indexes, as Apple stock and Tesla retreated.
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The 10-year Treasury yield continued to climb, nearing pandemic highs while crude oil prices rose solidly. Banks and energy stocks continued to advance as well.
Outside of those two areas, Arista Networks (ANET), Zim Integrated Shipping (ZIM), Dow Jones component Home Depot (HD), Taiwan Semiconductor (TSM) and Hilton Hotels (HLT) are five stocks worth watching. All are holding up reasonably well. Some are near possible entries while others are potentially actionable now, though investors should be cautious about any buys with the stock market rally under pressure.
Meanwhile, Apple (AAPL) retreated again, closing below its 21-day moving average for the first time in three months. Tesla stock fell below its 50-day moving average.
Finally, meme stocks DWAC and GameStop (GME) rallied on news. Trump stock SPAC partner Digital World Acquisition Corp. (DWAC) surged in Thursday’s session as the former president gets ready to launch his social media site next month.
GME stock skyrocketed overnight as the video game retailer launches a unit to enter the NFT and cryptocurrency markets.
Tesla (TSLA) and ANET stock are on IBD Leaderboard. ZIM stock, Arista Networks and Tesla are on the IBD…
