Finance

Rebound strong in 2024; what to do now


Dow Jones futures will open Monday night, while S&P 500 futures and Nasdaq futures will open after the New Year’s holiday weekend. Tesla deliveries, as well as data from major electric vehicle rivals, are expected before Tuesday’s open.




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Stocks are off to a strong start in 2024, following the Nasdaq’s best performance in 20 years. The market has rebounded strongly since the end of October, with major stock indexes rising for nine consecutive weeks. The S&P 500 is just below its all-time high.

There may be some volatility in early January as volume returns and some tax selling occur. So investors may want to see how things change. But they should look for new buying opportunities and review past trades.

Nvidia (NVDA), Microsoft (Microsoft Corporation), free market (Melly), Celsius Holdings (hepatocellular carcinoma) and Eli Lilly and Company (Li Lai) are traded nearby Buy points or earlier entries.

Electric vehicle delivery

January 1, ideal car (LI), Nioh (NIO) and Xiaopeng (electric car) Delivery status will be reported In December, the fourth quarter and the whole year, Li Auto’s December delivery volume is expected to exceed 50,000 vehicles.

Chinese electric vehicle and battery giant BYD (BYD Dongfeng) may release sales information on January 1 or January 2. Tesla (Tesla) will release its global production and delivery data in early January (probably January 2). Tesla is expected to meet its full-year delivery forecast of 1.8 million electric vehicles, but BYD is expected to take the lead in pure electric vehicle sales in 2019. Season 4.

US electric vehicle startup Rivian (Rivigne) is likely to release quarterly production and delivery data on Tuesday. The maker of electric pickup trucks, SUVs and delivery vans has been releasing such statistics on the first trading day after the quarter ends.

Tesla is nearing a buy point, while controversial RIVN stock is nearing its end. Li Auto stock is actively entering the market. BYD, Xpeng Motors and NIO stocks need some repair work.

Tesla stock, Microsoft and Nvidia rise IBD rankingsMSFT stock is located at IBD Long-Term Leader Nvidia stock, Celsius, MercadoLibre and Li Auto all make the list IBD50MELI stock in IBD Large Cap 20.Nvidia is on Friday Daily IBD Stock.

The video embedded in this article discusses the market rebound, looks ahead to the new year, and analyzes Nvidia, MercadoLibre, and CELH stocks.

Dow Jones Futures Today

Dow Jones futures, S&P 500 futures and Nasdaq 100 futures open at 6 p.m. ET on Monday.

U.S. stocks were closed on Monday for New Year’s Day.

Remember what you did that night Dow Jones Futures and other places that won’t necessarily translate into actual transactions on the next regular basis stock market Meeting.


Join IBD experts as they analyze leading stocks and markets on IBD Live


Stock market rebounds

The stock market rally capped a strong year on a relatively quiet note.

The Dow Jones Industrial Average rose 0.8% last week stock market tradingThe S&P 500 rose 0.3%, the Nasdaq edged up 0.1% and the small-cap Russell 2000 fell 0.3%.

For the whole year, the Dow Jones Index rose by 13.7%, the S&P 500 Index rose by 24.2%; the Nasdaq Index rose by 43.4%, the best performance since 2003.

Market breadth has improved significantly over the past two months. Chip, software and large-cap technology stocks still dominate the top stocks, but industrials, construction, financials, travel, transportation and some medical stocks also participate.

Sentiment indicators show bullish sentiment rising. The Nasdaq rose 6.9% from its 50-day moving average, down from the previous few days. But it won’t be long before we see the composite index rise again.

After falling to a five-month low on Wednesday, the 10-year Treasury yield fell 5 basis points this week to 3.86%; the yield has risen 3 basis points for the year, but has fallen back from 5% at the end of October.

U.S. crude oil futures fell 2.6% to $71.65 a barrel last week, and are down 10.7% for the year.


Stock market predictions for 2024: A soft landing may not bring the benefits you expect


ETF

Among growth ETFs, iShares Expanded Tech-Software Sector ETF (IGV) fell 0.45% last week, with Microsoft stock a key component. VanEck Vectors Semiconductor ETF (SMH) rose 0.9%. Nvidia stock is easily SMH’s No. 1 holding.

The ARK Innovation ETF reflects the more speculative story stocks (alke) fell 1.2% last week, with the ARK Genomics ETF (arkg) ended flat. TSLA stock remains a major component of the Ark Invest ETF.

SPDR S&P Metals & Mining ETF (XME) fell 1.55% last week. Global X U.S. Infrastructure Development ETF (pave) fell 0.1%. US Global Jets ETF (Jeters) fell 1.6%. SPDR S&P Homebuilders ETF (Xin Hong) rose slightly by less than 0.1%. Energy Select SPDR ETF (XLE) fell 1.3%.

Healthcare Select Sector SPDR Fund (XLV) rose 1%, mainly holding LLY stock. Industrial Select Sector SPDR Fund (XLI) rose 0.8%.

Financial Select SPDR ETF (XLF) increased by 0.7%.


These mega-cap stocks had a big year and are in pole position heading into 2024


Stocks near buy point

Nvidia shares rose 1.4% last week to 495.22, and the AI ​​chip leader is now close to a buying point of 505.48 flat base Mainly formed in the buying zone double bottom baseNvidia (NVDA) stock topped the S&P 500 in 2023, with its market capitalization more than tripling to more than $1.2 trillion. But with earnings soaring and a forward price-to-earnings ratio of just 26, the controversial Nvidia stock is cheap.

Microsoft shares edged up 0.4% to 376.04, extending a string of tight moves that ended the week in buy territory. cup holder. A flat bottom has now reportedly formed with a buy point of 384.30 Market Smith AnalysisEarnings and sales growth have accelerated over the past three quarters.

MELI stock has been consolidating over the past few weeks. Like many leading stocks that have risen strongly, it recently found support near the 21-day line. Shares fell 1.1% last week to 1,571.54. Technically, MercadoLibre Stock A Three weeks tight The buying point is 1,653.42 points. But investors can use the strong trend on the 21st line (perhaps around 1,600) as an entry point. MELI stock is expected to remain on a flat footing next week. This would allow the fast-rising 50-day line to further narrow the gap. MercadoLibre’s profits reached triple digits, and revenue grew as much as 40% in the third quarter.

CELH shares rose nearly 9% last week to 54.52, rebounding above the 50-day line. The energy drink giant has a consolidation buy point of 68.95 and an early entry of 62.99. Investors can use Thursday’s high to break out of the trend line. 56.63 serves as a specific positive buy point. CELH stock has rebounded straight from its 50-day line to a consolidation high. Celsius stock has retreated in recent months as the broader market rebounded. relative strength line Already behind, but after a big run.

Profits and sales are booming for Celsius.

Eli Lilly shares rose 2.2% this week to 582.92, hitting resistance at the 50-day line but just regaining the 10-week line. LLY stock has a 629.97 flat bottom buy point. But investors can take decisive action above the 50-day line, which will also break the trend line, as an early entry point. The 600 level is also a key area for the diet pill giant. Like Celsius, Eli Lilly stock’s RS line has weakened over the past few months following a strong uptrend.

Revenue growth has accelerated steadily over the past two quarters, and Lilly’s profits are expected to soar in 2024.

what to do now

After a strong year, stocks are entering 2024 on solid footing, despite falling at times in January. Leading companies such as Nvidia, Microsoft, Tesla and MercadoLibre are creating new buying opportunities.

Therefore, you need to run the screen and build your watch list to look at these charts carefully.

this is also a good idea Research your 2023 deals.What’s your best deal and worst deal? Which big winners did you miss or get eliminated early? Try to figure out how to catch and hold more of the top performing traders while minimizing losers and losses. It might mean following your rules better – and doing your homework. Or it might mean you need to adjust your rules or investing style.

Don’t try to live up to or live up to the performance of the past year. Focus on making the best decision right now.

read overall view Stay up to date with market direction and leading stocks and industries every day.

Follow Ed Carson on X/Twitter: @IBD_ECarsonThe thread is located at @edcarson1971 With the blue sky @edcarson.bsky.social Get stock market updates and more.

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