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Dow Jones Today, Futures Rise As Oil Rebounds, Bitcoin Retakes $50,000; Pfizer, BioNTech, Moderna Rally

Posted Date: August 23 2021
Stock futures rustled up some solid early gains Monday, as the dollar backed off Friday's peak and sent commodities broadly higher. Bitcoin-related stocks rallied as the cryptocurrency climbed back above $50,000. Vaccine makers were mixed on news the FDA was about to grant some full approvals. Boeing and Chevron paced the Dow Jones today, as they rebounded from tough losses last week.
Dow Jones futures climbed 0.4%, pointing to a positive start for a session set to include some key housing and economic data after the open. S&P 500 futures traded 0.3% above fair value. Nasdaq 100 futures grabbed a 0.3% gain and small caps ran strong in early action, with Russell 2000 futures rallying 0.8%.
IBD 50 stock Moderna (MRNA) led the Nasdaq 100, followed closed by a handful of China-based stocks. Pfizer (PFE) topped the S&P 500, chased by a pack of oil stocks led by Occidental Petroleum (OXY), APA (APA) and Marathon Oil (MRO).
Chip stocks were in motion, with Xilinx (XLNX) jumping 2.4% and Taiwan Semiconductor (TSM) notching a 1.,8% gain. IBD Leaderboard stock Nvidia (NVDA) gained 1.6%, aiming to add a third-straight advance. The graphics chip leader ended Friday just below what Leaderboard identifies as a 208.85 entry in a flat base. IBD MarketSmith analysis puts the stock in a buy range above a 207.43 buy point in a cup-with-handle base. The VanEck Vectors Semiconductor ETF (SMH) gained 0.7% in early trade.
Inmode (INMD) topped the IBD Leaderboard list in early trade, up 3.4% and looking to add a fifth straight daily advance.  Upstart Holdings (UPST) was an early IBD 50 leader, rising 1.8%. A pullback last week left the cloud-based consumer lending platform about 2% below 191.99 buy point in a deep nine-week cup base.

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