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Dow Jones Today, Futures Climb As Apple Rebounds; Snap, Crocs, HubSpot In Buy Ranges; Nike Trips On Supply Chain Issues

Posted Date: September 13 2021
Stock futures set up for a strong start Monday, as the benchmark indexes all looked to end multi-day declines. Analyst action drove a number of the largest premarket moves — IBD Leaderboard member Snap gained after Goldman Sachs initiated coverage, IBD 50 stock Asana jumped on a price target hike. On the Dow Jones today, Apple positioned for a rebound while Nike slumped on supply chain issues.
Dow Jones futures were up 0.5%, off their early highs. S&P 500 futures swung 0.6% above fair value. Both indexes are sitting on five-day declines. Nasdaq 100 futures climbed 0.5%. The Nasdaq 100 and Nasdaq Composite indexes are both looking to snap the three-day retreats that followed a punch to record highs on Tuesday.
Moderna (MRNA) leapt 1.6% to lead the Nasdaq 100. Moderna stock is up more than 210% from an early-June breakout. continuing to get lift from discussions of vaccine shots for children and third-shot boosters for already-vaccinated persons.
Oil stocks packed the top of the S&P 500, as U.S. oil prices rose past $70 a barrel. MGM International (MGM) also moved higher, up 1.7% after Bernstein upgraded the stock to outperform with a 58.90 price target.
Asana (ASAN) topped the IBD 50 list, pulsing 5.2% higher. Jefferies cranked the work management software developer's price target to 115, from 90.
Small caps outpaced the overall remarket action, with Russell 2000 futures up 0.9%. Regenxbio (RGNX) soared 17% after announcing an eye therapy partnership with AbbVie (ABBV).  Wisconsin-based auto components supplier Mayville Engineering (MEC) rallied 6.8%, following a mention in a Barron's article on Saturday.
Potentially market moving events this week include Apple's introduction of its latest iPhone and Apple Watch iterations on Tuesday. In Washington, Democrats are pushing to wrap up this week of a viable version of what was proposed to be a $3.5 trillion social infrastructure spending bill.
Software heavyweight Oracle (ORCL) reports earnings after today's close.

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