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Dow Jones Futures: Market Rally Awaits Jobs Report, Tesla Deliveries; SPCE Stock Rockets, Shopify Leads 5 Stocks With New Buy Points

Posted Date: July 02 2021
Dow Jones futures edged higher Friday morning, along with S&P 500 futures and Nasdaq futures. The June jobs report looms large for the stock market rally on Friday. Investors also remain on lookout for Tesla (TSLA) deliveries, following strong results from Nio (NIO) and Xpeng Motors (XPEV) and now Li Auto (LI).
 
Meanwhile, Virgin Galactic (SPCE) rocketed higher overnight after announcing that billionaire founder Richard Branson will join a July 11 flight into space.
 
Shopify (SHOP), PayPal (PYPL), CrowdStrike (CRWD), Zscaler (ZS) and Snapchat parent Snap (SNAP) are carving new buy points at or close to highs after already flashing buy signals lower in the base. This could offer a place to start or add to a position in these top names.
 
The stock market rally was higher across the board, at least on the major indexes. Fueled by energy stocks, the S&P 500 led the way, hitting a fresh high. The Nasdaq erased intraday losses to close slightly higher. Yet that masked some notable losses or reversals among many growth stocks, notably hot China stocks such as UP Fintech (TIGR) and IPOs from the past year, such as Palantir (PLTR).

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