Dow Jones futures will open Sunday evening, along with S&P 500 futures and Nasdaq futures. The stock market rally continued to press on to new highs last week, with all the key indexes hitting record highs.
The Nasdaq is getting extended, as Tesla (TSLA) and especially Nvidia (NVDA) surged higher last week, with other EV and chip names also soaring. It’s a time to pay close attention and consider some portfolio management.
Tesla CEO Elon Musk hinted Saturday that he could sell a big slice of his mammoth TSLA stock holdings, with share prices at record highs. Nvidia is expected to announce a big metaverse push in a keynote speech Tuesday.
Meanwhile, take a closer look at EXPE stock, Airbnb (ABNB), Booking Holdings (BKNG), Apple (AAPL), Moderna (MRNA), and Peloton Worldwide (PTON).
Expedia (EXPE), Airbnb, and BKNG stock broke out Friday, buoyed by solid results last week and several favorable tailwinds. Covid cases are down sharply; vaccinations are up, travel restrictions are easing while a new Pfizer (PFE) Covid pill offers much-greater treatment for patients who do get the coronavirus.
Travel could be the new hot sector and far more than online travel sites. Hyatt (H) last week joined several hotel operators breaking out. Even airlines, beset by soaring fuel costs and widespread labor shortages, are starting to bounce back.
Meanwhile, that Pfizer Covid drug news slammed MRNA stock and other Covid vaccine makers. But Moderna stock had flashed several signals in prior months. So did PTON stock, which crashed to a 16-month low Friday on horrible Q3 results.