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Dow Jones Futures: Nio, Xpeng Sales Jump As Tesla Deliveries Loom; Apple Tests Buy Point In Market Rally, Micron Earnings Jump

July 01 2021
Dow Jones futures and S&P 500 futures rose slightly Thursday morning, while Nasdaq futures edged lower. Crude oil prices kept running with OPEC+ discussing production levels while Nio, Xpeng and Micron Technology (MU) were also in focus.
 
The stock market rally was mixed Wednesday. with the Dow leading and Nasdaq edging lower while Apple (AAPL) flirted with a buy point.
 
Late Wednesday, memory-chip giant Micron topped earnings views, though MU stock fell modestly in premarket trading. The Micron earnings report has implications for memory-exposed chip-gear makers such as Applied Materials (AMAT) and Lam Research (LRCX). AMAT stock closed just above a buy point.
 
Chinese EV makers Nio (NIO) and Xpeng Motors (XPEV) reported strong June and second-quarter deliveries before the open, with Li Auto (LI) likely releasing figures in the next couple of days. Nio stock rose before the open, extending a huge weekly gain. Xpeng stock and Li Auto also rose.
 
Tesla (TSLA) is expected to release second-quarter production and delivery figures by the end of the week, perhaps this morning.

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