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Dow Jones Futures: Why The Market Rally Is So Strong; Tesla Holds Buy Point Despite Bad News

Posted Date: September 07 2021
Dow Jones futures were little changed Tuesday morning, along with S&P 500 futures and Nasdaq futures, after U.S. markets were closed Monday for Labor Day. The stock market rally had another solid week, with growth and small-cap stocks leading once again. The S&P 500 index and Nasdaq composite hit record highs.
Negative Tesla (TSLA) headlines are building up on expanding crash probes and product delays, but Tesla stock held its buy point Friday.
PayPal (PYPL), (AMZN), Lululemon Athletica (LULU), Nike (NKE) and Applied Materials (AMAT) are all finding support near their 50-day moving averages, offering potential buying opportunities.
Tesla stock and PayPal are on IBD Leaderboard. PayPal stock also is on IBD Long-Term Leaders.
The video embedded in this article analyzes DocuSign (DOCU), PayPal and Lululemon stock.
Ryanair (RYAAY), Boeing's top non-U.S. customer, said it is walking away from talks with the Dow Jones aerospace giant over a potential new 737 Max order over pricing. Meanwhile, 787 Dreamliner deliveries will likely remain halted until at least late October. Boeing (BA) has been unable to persuade FAA to approve its proposal to inspect the aircraft, the Wall Street Journal reported, citing sources. Boeing stock edged lower.
In S&P index news, Match Group (MTCH), Ceridian (CDAY) and Brown & Brown (BRO) will move from the S&P MidCap 400 to the S&P 500 before the open on Monday, Sept. 20. Tandem Diabetes (TNDM) will be added to the S&P MidCap 400. Meanwhile, Microstrategy (MSTR) is being dropped from the S&P SmallCap 600.
Match Group and  Tandem Diabetes jumped in premarket trading.

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