Dow Jones futures, S&P 500 futures and Nasdaq futures were slightly higher in early trading on Monday, while Bitcoin hit a new all-time high. U.S. markets were closed for the Martin Luther King holiday. Donald Trump's inauguration also takes place on Monday, and the incoming president is expected to issue a slew of executive orders on day one.
Stocks have rebounded strongly this week, with the Nasdaq and S&P 500 back above their 50-day moving averages. Mild inflation data sent U.S. Treasury yields lower, while strong earnings also boosted major stock indexes.
Tesla (Tesla), Immediate service (Now), Vitti Technology (VRT), amazon.com (Amazon) and Broadcom (AVGO) issued a buy signal. Goldman Sachs (GS), energy transfer (Eastern Time), Viking Cruises (VIK) duck Quanta Services (PWR) and several of their respective counterparts are also possible.
The video embedded in the article provides in-depth analysis of weekly market moves, with commentary on Viking stock, ServiceNow, Amazon, and more.
↑ X Stocks surge into Trump 2.0; Viking Holdings, ServiceNow, Amazon.com in focusDow Jones futures were up slightly in fair value compared to S&P 500 futures. Nasdaq 100 futures rose 0.1%.
Bitcoin price topped $108,000 on Trump's optimism and topped $109,000 overnight, setting a new all-time high.
President-elect Trump launched his own cryptocurrency on Friday night. The value of the $TRUMP meme coin has soared, with Trump Enterprises controlling about 80%. Melania Trump launches her own meme coin $MELANIA.
Trump said he would issue an executive order to give the Chinese video app temporary breathing space, and TikTok resumed operations on Sunday hours after complying with U.S. laws banning the app.
With U.S. stock and bond markets closed Monday for the Martin Luther King holiday, U.S. investors may not have a clear initial reaction to Trump's first-day moves until Tuesday.
Keep in mind that overnight moves in Dow futures and other markets don't necessarily translate into actual trades during the next regular stock market trading session.
As Trump looms, these stocks are rising sharply
Trump will be sworn in at 12 noon ET. He is expected to issue 100 or even 200 executive orders on his first day.
Trump's executive order is expected to cover a range of issues, including energy policy, deportations, Bitcoin and more, as well as his promised TikTok order.
These could have significant impacts on Wall Street, especially specific industries and stocks. But the market may have already priced in most of the news.
Trump spoke with Chinese President Xi Jinping on Friday about trade, TikTok and other issues, calling the call "very good." With Trump back in the White House, that could ease trade war concerns.
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The stock market rebounded strongly last week.
The Dow Jones Industrial Average rose 3.7% in last week's stock market trading, briefly breaking above its 50-day moving average on Friday. On Friday, the S&P 500 rose 2.9% and the Nasdaq Composite rose 2.45%, both above their 50-day moving averages.
The small-cap Russell 2000 index rose about 4% but remained below its 50-day line.
The Invesco S&P 500 Equal Weight ETF (RSP) and The First Trust Nasdaq 100 Equal Weighted Index ETF (QQEW) also rebounded from their 200-day line, rising 3.9% and 3.7% respectively for the week. The RSP is just below its 50-day line, while the QQEW broke above that key level for the first time in a month.
All key indexes and equal-weighted ETFs remain within ranges seen since December.
On a more optimistic note, leading stocks across multiple industries are performing well.
Artificial Intelligence Giant NVIDIA (NVDA) is up slightly this week but remains below its 50-day line.
The 10-year Treasury yield fell 16 basis points to 4.61%, retreating from Tuesday's 52-week intraday high of 4.81%.
U.S. crude futures rose 1.7% to $77.88 a barrel last week, but were off midweek highs above $80.
Bitcoin surged to 104,767.70 as of 4pm ET on Friday. Reports of a pro-cryptocurrency Trump executive order sent Bitcoin and other cryptocurrencies higher on Monday.
Among growth ETFs, the Innovator IBD 50 ETF (FFTY) gained 3.6% last week. The iShares Expanded Tech-Software Sector ETF (IGV) rebounded 3.2%, with a large holding in ServiceNow stock. VanEck Vectors Semiconductor ETF (SMH) rose 4.5%. Nvidia stock and Broadcom stock have significant positions in SMH.
The ARK Innovation ETF (ARKK) rebounded 3.7% last week, but the ARK Genomics ETF (ARKG) fell 2.55%. Tesla stock is the top holding of the Ark Invest ETF.
The SPDR S&P Metals & Mining ETF (XME) gained 5.6% last week. The SPDR S&P Homebuilders ETF (XHB) surged 8.1%. The Energy Select Sector SPDR ETF (XLE) surged 6.3% and the Healthcare Select Sector SPDR Fund (XLV) edged up 0.4%. The Industrial Select Sector SPDR Fund (XLI) rose 4.9%.
The Financial Select SPDR ETF (XLF) surged 6.15%, with Goldman Sachs stock a top holding.
Cruise lines are sailing at a higher intensity of purpose and demand. One broke out.
Tesla shares soared 8.05% to 426.50 this week, rebounding from the 10-week line and breaking a relatively steep downward trend in short-term consolidation. TSLA stock could have a new bottom in another week, with a potential buy point at 488.54. Tesla will release its earnings report on January 29, focusing on Elon Musk's latest autonomous driving schedule, "affordable" electric vehicle models, and more.
Musk is a huge supporter and advisor to Donald Trump.
ServiceNow, Broadcom, Amazon, Quanta Services and Vertiv stocks all made early appearances.
Virgin stocks, Goldman Sachs stocks and Energy Transfer stocks all posted breakouts.
Timing the market with IBD's ETF market strategy
The stock market rebound is picking up, with strong bullish signals emerging last week. This may end up being a short-term move in a volatile trend, but the current trend for the index, especially the leading stocks, is positive.
Investors should seize buying opportunities and gradually increase exposure. Given the current breadth of leadership, consider buying stocks outside of the AI and tech sectors.
Work through your watchlist and scan for leading and establishing stocks and industries. But if the market does pull back, be prepared to scale back.
Trump's inauguration is likely to be Tuesday's news event.
Earnings season will heat up further this week, Netflix (NFL), GE Villenova (GEV), GE Aerospace (GEV) and American Express (AXP) among many famous names.
Nvidia stock is on the IBD Ranking List and Tesla stock is on the Ranking Watch List. Viking, ServiceNow, Goldman Sachs and Amazon stocks are all on SwingTrader. Broadcom, Quanta Services and Vertiv stocks are all in the IBD 50 index. Vertiv, Broadcom and ServiceNow stocks are included in the IBD Big Cap 20 Index.
ServiceNow is the IBD stock of the day on Friday. Broadcom stock was a top pick on Thursday.
Read the big picture every day to stay in sync with market direction and leading stocks and sectors.
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