MarketsmithIndia Articles

Dow Jones Today, Futures Edge Higher As Strong August Winds Down; Facebook, Chipotle Near Buy Points; China Clamps Down On Video Games

Posted Date: August 30 2021
Stock futures hovered in narrowly positive territory early Monday, as markets moved to wrap up an unusually strong August. Tech stocks showed early strength. Facebook and Chipotle Mexican Grill each rose near buy points. Dynavax led the IBD 50 list, Catalent jumped on earnings. Home Depot rebounded toward a buy point on the Dow Jones today.
Dow Jones futures, S&P 500 futures and Nasdaq 100 futures all rose a fraction above fair value. Small caps narrowly outpaced the early action, with Russell 2000 futures gaining 0.2%. The market heads into the last couple of sessions of August sitting on its strong performance from last week. But this week's action could be more muted as investors await yet another crucial monthly payrolls report, due on Friday, from the Labor Department.
China-based stocks were mixed early Monday after the country's regulators rolled out a new set of rules limiting online game playing for children. Games provider NetEase (NTES) fell more than 7%. Search engine operator Baidu (BIDU) traded 0.9% higher, leading the Nasdaq 100.
Chip stocks were rising, with Nvidia (NVDA), Lam Research (LRCX) and Advanced Micro Devices (AMD) all up less than 1%. The VanEck Vectors Semiconductor ETF (SMH) showed a 0.4% premarket gain. Nvidia is an IBD Leaderboard stock.
Medical research services provider Catalent (CTLT) rallied almost 3% after reporting a strong fiscal fourth-quarter performance. The move suggested the stock would move into extended territory, after clearing a 124.15 buy point in a cup-with-handle base a week ago.
Zoom Video Communications (ZM), Nordson (NDSN)  and Brazil's Stoneco (STNE) report after the closing bell.

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

Loading...