Dow Jones Futures Rise After Trump Assassination Attempt

Dow Jones futures roseate somewhat Sunday night, on with S&P 500 futures and Nasdaq futures, aft Saturday's assassination effort vs. erstwhile President Donald Trump.

Netflix (NFLX), Taiwan Semiconductor (TSM), ASML (ASML) and Goldman Sachs (GS) header cardinal net reports this coming week.

Google-parent Alphabet (GOOGL) is adjacent a woody to buy cybersecurity startup Wiz for astir $23 billion, The Wall Street Journal reported Sunday, citing sources.

↑ X NOW PLAYING TSM, ASML Are Trading Near Highs. Are They A Buy Ahead Of Earnings?

Trump Rally Shooting

A gunman fired aggregate shots Saturday evening arsenic erstwhile President Trump was holding a run rally successful occidental Pennsylvania. Trump was somewhat wounded connected his close ear. Secret Service rapidly got him disconnected stage, with Trump, look streaked with blood, shaking his fist successful defiance.

Trump, connected his Truth Social site, aboriginal said helium was "shot with a slug that pierced the precocious portion of my close ear."

Federal authorities called it an assassination attempt. Authorities identified Thomas Matthew Crooks, 20, from Pennsylvania arsenic the shooter.

A Secret Service sniper changeable him dormant seconds aft Trump was hit.

The weapon besides killed a spectator, with 2 others critically wounded.

Top Republicans and Democrats, including President Joe Biden, rapidly denounced the onslaught arsenic good arsenic governmental unit generally.

Biden addressed the federation Sunday night, saying authorities indispensable ne'er go "a sidesplitting field."

The Republican National Convention is this week, with Trump expected to sanction his moving mate.

Trump's likelihood of retaking the White House person jumped to 66% connected PredictIt from astir 60% earlier Saturday's rally shooting. It was astir 53% earlier the archetypal statesmanlike debate.

The Wall Street Journal offers in-depth sum of the Trump rally shooting and beyond.

Dow Jones Futures Today

Dow Jones futures roseate 0.2% vs. just value. S&P 500 futures precocious 0.1% and Nasdaq 100 futures climbed 0.15%.

How volition assorted sectors specified arsenic star powerfulness fare pursuing the Trump assassination attempt.

Bitcoin roseate solidly to supra $62,000. Trump has been pro-crypto successful his predetermination effort.

Chinese Q2 GDP grew 4.7% successful the 2nd 4th vs. a twelvemonth earlier, down from Q1's 5.3% and missing forecasts for 5.1%. China retail income roseate 2% successful June vs. a twelvemonth earlier, cooling from May's 3.7% and beneath views for 3.4%. Industrial accumulation climbed 5.3%, down from May's 5.6% but beating estimates for 5%.

Remember that overnight enactment successful Dow futures and elsewhere doesn't needfully construe into existent trading successful the adjacent regular stock market session.

Stock Market Rally

The banal marketplace rally had a large shake-up Thursday. But, ultimately, the large indexes deed grounds highs during the week, portion the small-cap Russell 2000 skyrocketed to a multiyear high, fueled by Fed rate-cut hopes.

The Dow Jones Industrial Average leapt 1.6% successful past week's stock marketplace trading, moving supra 40,000 for the archetypal time. The S&P 500 scale climbed 0.9%. The Nasdaq composite precocious 0.25%.

The small-cap Russell 2000 spiked 6% to its champion level since January 2022.

The 10-year Treasury output fell 8.5 ground points to 4.19%, hitting a four-month debased Thursday. U.S. crude lipid futures declined 1.1% to $82.21 a barrel.

Nvidia (NVDA), Tesla (TSLA) and astir of megacaps and spot stocks that fell backmost Thursday ended with play gains oregon astatine slightest steadfast charts. Meanwhile, cardinal sectors specified arsenic lodging saw large gains aft lagging for immoderate time.

Weatherford International (WFRD), TopBuild (BLD), AppFolio (APPF) and Tencent (TCEHY) are successful bargain areas.

Key Earnings

Netflix stock, Goldman Sachs and ASML besides are successful bargain scope arsenic they caput into earnings. Taiwan Semiconductor banal is inactive flirting with a $1 trillion valuation. Goldman reports aboriginal Monday amid the ongoing flurry of slope earnings. ASML (early Wednesday) and Taiwan Semi (early Thursday) volition beryllium immense for the spot assemblage and artificial quality broadly. Netflix is owed Thursday night.

The video embedded successful the nonfiction discusses the large week of upcoming earnings, with Taiwan Semiconductor, ASML, Netflix and Goldman banal each analyzed.

Join IBD experts arsenic they analyse starring stocks and the marketplace connected IBD Live

Nasdaq Still Extended

On Wednesday, the Nasdaq closed 9% supra its 50-day line, the astir stretched since June 2023, raising the hazard of a pullback. After Thursday's tumble and Friday's humble bounce, the Nasdaq is 6.9% supra its 50-day, inactive extended.

With optimism precocious and the Nasdaq stretched, the risks of a pullback are elevated arsenic tech net footwear in. That could beryllium a toxic mix.

ETFs

Among maturation ETFs, the Innovator IBD 50 ETF (FFTY) climbed 0.5% past week. The iShares Expanded Tech-Software Sector ETF (IGV) fell 1.9%. The VanEck Vectors Semiconductor ETF (SMH) precocious 1.7%. Nvidia and Taiwan Semi banal are the 2 largest holdings successful SMH, with ASML a notable member.

Reflecting more-speculative communicative stocks, ARK Innovation ETF (ARKK) rallied 1.8% past week and ARK Genomics ETF (ARKG) soared 9%. Tesla banal is the No. 1 presumption crossed Ark Invest's ETFs.

SPDR S&P Metals & Mining ETF (XME) bounced 3.8% past week. The Global X U.S. Infrastructure Development ETF (PAVE) leapt 4.5%. SPDR S&P Homebuilders ETF (XHB) spiked 10.8%. The Energy Select SPDR ETF (XLE) edged up 0.5% and the Health Care Select Sector SPDR Fund (XLV) gained 2.6%. The Industrial Select Sector SPDR Fund (XLI) popped 2.4%.

The Financial Select SPDR ETF (XLF) roseate 2%, with Goldman Sachs banal a large component. The SPDR S&P Regional Banking ETF (KRE) surged 8.6%.

Time The Market With IBD's ETF Market Strategy

Tesla Stock

Tesla banal tumbled 8.4% connected Thursday, reversing from a nine-month precocious and snapping a large 11-day triumph streak. But TSLA banal lone fell 1.3% to 248.23 for the week. The EV elephantine reportedly volition delay the Tesla robotaxi event from Aug. 8 to sometime successful October.

CEO Elon Musk endorsed Donald Trump for president pursuing the assassination attempt.

Tesla Pauses After Huge Move; BYD Breaks Out Amid Big Overseas Move

Nvidia Stock

Nvidia banal roseate 2.7% to 129.28 for the week contempt tumbling 5.6% connected Thursday. Stepping back, NVDA banal has been consolidating for a fewer weeks, mostly uncovering enactment astir oregon supra the 21-day line. A fewer much weeks could spot a caller base, with the 50-day enactment catching up.

Stocks In Buy Zones

Weatherford banal jumped 4.9% to 127.72, rebounding from the 50-day enactment and breaking retired from a cup-with-handle base with a 127.20 bargain point. Shares deed a grounds 130.61 intraday Friday earlier pulling back.

TopBuild banal spiked 14.6% past week to 431.91. The insulation installer vaulted supra the 50-day enactment connected Thursday, clearing a downward-sloping trendline. The authoritative bargain constituent is 452.87, according to MarketSurge.

AppFolio banal jumped 5% connected Friday to 264.35, clearing a 256.73 bargain constituent from a flat base. APPF precocious 4.7% for the week, the sixth consecutive play gain.

Tencent banal popped 3.8% to 50.47. The Chinese messaging and gaming elephantine topped a 50.89 bargain constituent intraday connected Friday aft clearing an aboriginal introduction Thursday. TCEHY banal has a cup-with-handle base.

AI Is Fueling A 'Nuclear Renaissance.' Bill Gates, Jeff Bezos Are In The Mix.

Market Rally Analysis

The Nasdaq is extended portion net play is simply a large X origin implicit the adjacent fewer weeks. Taiwan Semi and ASML successful peculiar could plaything techs successful the coming week. But for present it's a wide beforehand with a fig of stocks flashing bargain signals.

Keep successful caput that not each stocks volition instrumentality part. Restaurant stocks person suffered superior harm successful the past week. Social media plays had a pugnacious fewer days. Be consenting to chopped losers and laggards arsenic caller buying opportunities arise.

The imaginable assassination effort vs. Trump further underlines that the 2024 predetermination play is simply a large wildcard.

One downside to a wide marketplace rally? Your watchlists request to beryllium a batch bigger. So bash your homework.

Nvidia and Taiwan Semiconductor banal are connected IBD Leaderboard. KB Home banal is connected SwingTrader. Nvidia and Goldman banal are connected the IBD 50. Nvidia banal is connected IBD Big Cap 20. AppFolio was Friday's IBD Stock Of The Day.

Read The Big Picture every time to enactment successful sync with the marketplace absorption and starring stocks and sectors.

Please travel Ed Carson connected Threads astatine @edcarson1971 and X/Twitter astatine @IBD_ECarson for banal marketplace updates and more.

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