Dow Jones Futures: Covid Fears Shake Up Market Rally; Facebook Tops $1 Trillion; Tesla Rival Nio Flashes Buy Signal

Posted Date: June 29 2021
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Dow Jones futures were little changed Tuesday, along with S&P 500 futures and Nasdaq futures. The Nasdaq hit a new high in Monday's stock market rally, fueled by Facebook (FB) and coronavirus plays. But the Dow Jones lagged as energy, mining, financial and travel stocks slumped as Delta coronavirus cases increase.
 
Meanwhile, Morgan Stanley (MS), Goldman Sachs (GS) and Jefferies (JEF) headlined key bank movers on news overnight.

Key Market Rally Movers

 
In Monday's session, Zebra Technologies (ZBRA) broke out of a base, while Etsy (ETSY), Applied Materials (AMAT) and Progyny (PGNY) cleared early buy pointsNio (NIO) moved above a very aggressive entry.
 
The stock market rally was split Monday. The Nasdaq rallied on a Facebook antitrust win, positive chip industry news, surging gene-editing stocks such as Intellia Therapeutics (NTLA) as well as a sharp drop in the 10-year Treasury yield. Covid fears and restrictions may have boost coronavirus stocks such as Zoom Video (ZM), Peloton (PTON) and Etsy stock.
 
EV makers such as Nio stock and China peers Xpeng (XPEV) and Li Auto (LI) were big winners, while startups such as Fisker (FSR) and Workhorse Group (WKHS) also popped. Tesla (TSLA) also rose, but TSLA stock lagged its smaller rivals.

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