Dow Jones Futures: Apple, Microsoft Lead 7 Stocks In Earnings Wave; Will Trump

Dow Jones futures open Sunday evening, along with S&P 500 futures and Nasdaq futures. The stock market rally had solid gains last week, with the Dow Jones and S&P 500 hitting record highs. The Nasdaq composite moved closer to record levels despite rising Treasury yields and Friday’s big sell-offs by Intel (INTC) and Snap (SNAP).


Earnings season hits full force this coming week, with hundreds of companies reporting. Apple stock, Microsoft (MSFT), Advanced Micro Devices (AMD), General Motors (GM), Upwork (UPWK), ServiceNow (NOW) and Google parent Alphabet (GOOGL) are seven big names on tap that are in or near buy zones.

These names could move markets by themselves, but they can also have a big impact on related stocks, as Snap stock’s impact on digital ad firms such as Google stock showed.

Investors should be ready to take advantage of earnings week. Don’t let earnings week take advantage of you.

Trump SPAC Stock

Meanwhile, expect Donald Trump’s SPAC to remain hotly traded this week. Digital World Acquisition (DWAC) exploded 357% Thursday on news that it would be the SPAC merger partner for Donald Trump’s new social media venture. DWAC stock then shot up 107% to 94.20 on Friday. But it closed far below Friday morning’s peak of 175, though not at session lows.

DWAC stock fell 14% in active trading Friday night.

Could DWAC stock go higher? Absolutely. But it could also plunge. Without a proper entry or any fundamentals, buying any meme stocks is fraught with peril. The political dimension potentially could give a Trump stock more staying power, but that thinking presumably helped turbocharge DWAC stock on Thursday and Friday.

Meme stocks can skyrocket, getting everyone’s attention. But on the second day of “everybody talking about it,” more-recent meme stocks have tended to peak.

In the meantime — “meme time? — DWAC stock may be sucking up the oxygen from “traditional” meme stocks such as GameStop (GME) and AMC Entertainment (AMC). Both AMC stock and GME stock fell nearly 7% on Friday as DWAC stock got the attention.

Microsoft, ServiceNow, Google and AMD stock are on IBD Leaderboard. NOW stock is on SwingTrader. MSFT stock, ServiceNow, Google are on IBD Long-Term Leaders. AMD, Google and UPWK stock are on the IBD 50.

Apple (AAPL) and Microsoft stock are on the Dow Jones, S&P 500 and Nasdaq composite, and the only two members of the $2 trillion market-cap club.

The video embedded in this article reviewed the overall market action and discussed a game plan for the coming week. It also analyzed Google, UPWK stock and Cleveland-Cliffs (CLF).

Time The Market With IBD’s ETF Market Strategy

Dow Jones Futures Today

Dow Jones futures open for trading 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

Coronavirus News

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