United States – Top three companies’ futures, namely Dow Jones, S&P 500, and Nasdaq, increased modestly on Monday, October 17, in the United States or the US stock market.
The performance was wild last week, where the major indexes broke to bear market lows before they rebounded distinctly on Thursday, October 13, despite the inflation report. Stocks continued to trade on Friday, October 14, as Treasury products powered higher.
The major indexes are in significant downtrends while a rally in the market attempt is ongoing. Stocks that flash buy set up or signals immediately crack. Stock market investors stayed wary until the US stock market displayed real indicators of strengths.
Netflix (FLX) and Tesla (TSLA) share a probability of earnings in the succeeding week. The stock of TSLA dropped to 52-week lows while the stock of NFLX set up in a bottoming foundation yet faces big overhead resistance.
On the other hand, stocks like Wolfspeed (WOLF), Albemarle (ALB), Shockwave Medical (SWAV), Digi International (DGII), and Aehr Test Systems (AEHR) grew their stocks, and the price is holding up well. However, the stocks are not actionable recently. All these firms suffered damage previously, and they might break assertively lower if the US stock market displays further weakness. However, if the market improves, these stocks might be winners.
Dow Jones futures increased 0.5% compared to the fair value, while S&P 500 futures also boosted by 0.5%. Nasdaq 100 futures increased 0.4%, while the 10-year Treasury yield dropped one basis point, decreasing by 4%. Crude oil futures increased slightly, while natural gas dropped over 2%.
On another note, the performance of the US stock market sold off to bear market lows last week, where it rebounded and began sliding during the volatile weekly action.
The Dow Jones Industrial Average increased 1.25% in the trading market, S&P 500 index dropped 1.5%, and Nasdaq dropped 3.1%.
The Treasury yield jumped 13 basis points, going to 4.01%, which extended the weekly mark to 100 weeks. The yield hit a 14-year increase of 4.06% on October 13, and it’s closely tied to the policy of the Fed, where the rates might increase to 4.5%. The crude oil futures dropped 6.8% last week, while natural gas increased by 3.8%.
Some of the best ETFs include the Innovator IBD 0 ETF (FFTY) with a 3.6%, Innovator IBD Breakout Opportunities ETF (BOUT) increased by 1.3%, and the iShares Expanded Tech-Software Sector ETF (IGV), which dropped 5.7%. Aside from those, the VanEck Vectors Semiconductor ETF (SMH) dropped 8.2% from its two-year lows.