The stock market rally continued into the early hours of trading last night as Dow Jones, S&P 500, and Nasdaq futures all showed positive movement. United Airlines reported better-than-expected fourth-quarter earnings on Monday evening, driving a sharp rise in UAL stock. Airline stocks have encountered challenges following Delta Air Lines’ earnings and the blocked JetBlue-Spirit Airlines deal. General Electric, D.R. Horton, and Paccar are also expected to report earnings early Tuesday. Furthermore, oil services giants Halliburton and Baker Hughes are set to release their financial results today. In addition, Netflix is due to report its earnings on Tuesday night, and Tesla is expected to report its earnings on Wednesday night.
The market rally saw the Dow Jones Industrial Average, S&P 500 index, and Nasdaq composite all posting gains on Monday, with small caps leading in a second day of strong market breadth. In addition, the small-cap Russell 2000 rebounded strongly while the Invesco S&P 500 Equal Weight ETF rose outpacing the S&P 500. U.S. crude oil prices also surged to the highest close since December 26, reaching $75.19 a barrel. Furthermore, growth ETFs including the iShares Expanded Tech-Software Sector ETF and VanEck Vectors Semiconductor ETF all showed positive movement on Monday.
Apple stock rose 1.2% to $193.90, reclaiming a key level and offering an early entry. Affirm Holdings, MongoDB, and UiPath all flashed buy signals on Monday, with UAL stock gaining sharply in late trade. In addition, SNPS stock is on the IBD Long-Term Leaders list, and Monday.com and MDB stock are a part of the IBD 50. Also, MongoDB was Monday’s IBD Stock Of the Day.
The stock market has displayed strength despite the slight fade in the early hours of Monday’s trading. Investors should continue looking for new buying or add-on opportunities and work on their watchlists for new setups and continue grading the stocks in their portfolio. It’s important to follow The Big Picture every day to stay in sync with the market direction and leading stocks and sectors.
The Dow Jones Industrial Average, S&P 500 index, and Nasdaq composite all posted gains on Monday, with the small-cap Russell 2000 rebounding strongly and positive activity recorded in growth ETFs. Apple stock rallied, and Tesla stock faced some challenges after analyst comments and the release of FSD news. General Electric, D.R. Horton, Paccar, Halliburton, and Baker Hughes are among the major companies expected to report earnings today. The market rally continues to act well despite Monday’s afternoon fade, and investors should continue looking for new opportunities while keeping an eye on the market direction and leading stocks.