MarketsmithIndia Articles

Dow Jones Futures: Market Rally Mixed As Apple Hits New High, Bitcoin Dives; Tesla Leads Five Giants In Buy Range

Posted Date: September 08 2021
Dow Jones futures fell slightly Wednesday morning, along with S&P 500 futures and Nasdaq futures. Tesla China sales and Bitcoin remained in focus.
The stock market rally was mixed Tuesday, though Apple stock, Tesla (TSLA) and some other big-cap leaders fared well. Software and industrial names retreated. Bitcoin and other cryptocurrencies tumbled, though they and Bitcoin-related stocks such as Coinbase (COIN) pared losses somewhat.

Overnight Earnings, Movers

Coupa Software (COUP), Smartsheet (SMAR) and UiPath (PATH) headlined earnings reports after the close.
Coupa easily beat EPS views and guided higher. Smartsheet also topped while guiding fiscal 2022 EPS in line. UiPath topped views and offered in-line to slightly higher guidance. COUP stock initially surged more than 10% overnight, but pared gains to 6%. SMAR stock, slightly extended from a buy zone, fell 3% in extended trade. PATH stock tumbled 7.5% before the open near post-IPO lows.
Meanwhile, Bumble (BMBL) fell 5% in premarket trade. The dating app where women choose the matches will offer 15 million shares on behalf of existing holders. BMBL stock, which came public in February, hit 60.87 intraday Tuesday, briefly clearing a 60.44 bottoming base buy point. But shares reversed to close down 3.6% to 57.77.
Global-e Online (GLBE) will sell 12 million shares on behalf of existing holders. GLBE stock, another 2021 IPO, fell 2% in extended action. Shares have been on a big run, but have pulled back over the last several sessions.

What do you think? Please email us any questions or comments.

Disclaimer: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. It is for educational purposes only.For more information, see our Legal disclosures here.

Related Article