The stock market rally fell toward key support but roared back on Friday, led by Apple (AAPL), Tesla (TSLA) and bank stocks. The Nasdaq is close to hitting 2023 highs once again. But we’ve been here before. Dow Jones futures open Sunday evening, along with S&P 500 futures and Nasdaq futures.
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Warren Buffett’s Berkshire Hathaway (BRKB) reports earnings Saturday.
Buying opportunities remain limited. Dow Jones giant Visa (V), Advanced Micro Devices (AMD) and TJX Cos. (TJX) are hovering around entries. Visa stock is in a buy zone, but also could have other entries. AMD stock, fueled by Microsoft (MSFT) AI buzz, is on the cusp of an early entry. So is TJX stock.
Tesla stock is still some distance from a buy point, but worth watching again.
Despite huge rebounds Friday, PacWest Bancorp (PACW) and other regional banks had terrible weeks. So keep an eye on PACW stock, Western Alliance Bancorp (WAL) and regional banks in general.
Investors should remain cautious about adding exposure until the market rally — still “under pressure” — shows more power and breadth. But that could come soon.
Microsoft stock is on IBD Long-Term Leaders.
The video embedded in the article discussed another complicated market week and analyzed DraftKings (DKNG), Visa and TJX stock.
Dow Jones Futures
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.
Join IBD experts as they analyze actionable stocks in the stock market rally on IBD Live
Stock Market Rally
The stock market rally retreated for most of the week, but rebounded Friday to close mixed.
The Dow Jones Industrial Average sank 1.2% in last week’s stock market trading. The S&P 500 index retreated 0.8%. The Nasdaq composite eked out a 0.1% gain. The small-cap Russell 2000 fell 0.4%.
The 10-year Treasury yield lost a fraction to 3.445% for the week, amid some big daily moves.
U.S. crude oil futures tumbled 7.1% to $71.34 a barrel…
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