Dow Jones Futures Loom After Market Rally Takes Big Step; 9 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 attempt had a strong finish Friday, with the major indexes moving sharply higher on the December jobs report and ISM services index.

ELF Beauty (ELF), SLB (SLB), Caterpillar (CAT), Rio Tinto (RIO), Atkore (ATKR), KLA (KLA)C, United Therapeutics (UTHR), Insulet (PODD), and TJX (TJX) broke out, flashed buy signals or were arguably actionable.

Commercial Metals (CMC) reports before the open. CMC stock jumped last week, rebounding from moving averages and clearing a tight area. But the upcoming CMC earnings added a lot of risk.

After Friday’s market close, Macy’s (M) warned that holiday fourth-quarter sales will be at the low end of views. It sees consumers remaining pressured in 2023. Macy’s stock fell more than 4% late Friday, with several other retailers nudging lower.

ELF Beauty and CAT stock joined IBD Leaderboard on Friday, with UTHR stock on the Leaderboard watchlist. ATKR stock and Commercial Metals are on the IBD 50 list. KLAC stock is on the IBD Big Cap 20.

ELF Beauty was Friday’s IBD Stock Of The Day. United Therapeutics and RIO stock were selections earlier in the week.

Meanwhile, Tesla (TSLA) shook up the China EV market with sweeping price cuts on Friday in the wake of weaker-than-expected sales there. Tesla stock plunged for the week but did reverse higher on Friday. Tesla’s move may hit its profit margin, but it will help the EV giant counter booming BYD (BYDDF), which is increasingly profitable. BYD stock fell Friday but still had a strong week. China EV startups such as Nio (NIO), Li Auto (LI) and XPeng (XPEV), which have been losing money, face a steeper challenge. Nio stock, Li Auto and Xpeng plunged on Friday but did eke out weekly gains.

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.

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