Dow Jones Futures: Microsoft, Apple, Amazon Drive Current Stock Market Rally; StoneCo, Tilray Up Late

Dow Jones futures rose modestly late Monday, along with S&P 500 futures and Nasdaq futures. In Monday’s session, the major averages rose modestly even with Boeing stock weighing on Dow Jones. The world’s most valuable companies, Dow tech giants Microsoft and Apple stock, continued to outperform. No. 3Amazon stock cleared a buy point. Two late 2018 IPO stocks reported late: StoneCo (STNE), a hot Brazilian payments play backed by Warren Buffett, and marijuana stock Tilray (TLRY).  StoneCo stock skyrocketed after closing right at a buy point. Tilray stock rose modestly. HealthEquity stock tumbled.


Dow Jones Futures Today

Dow Jones futures climbed 0.2% vs. fair value. S&P 500 futures and Nasdaq 100 futures rose nearly 0.2% vs. fair value. Remember that overnight action in Dow futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.

Current Stock Market Rally

The current stock market rally enjoyed modest gains Monday after last week’s strong advance. Boeing (BA) fell 1.8%. But Microsoft (MSFT) climbed 1.4% and Apple (AAPL) rose 1%, as the two most valuable companies continue to outperform the current stock market. Microsoft stock hit a new high, still in range from a 113.35 entry. Apple approached its 200-day line.

Meanwhile, (AMZN), which has the third-highest market cap, cleared a buy point, rising 1.7% to 1,742.15. That just cleared a 1,736.51 buy point from a flat base within a larger consolidation. Amazon stock also topped its 200-day line. But volume was just 2% above normal, below the 40%-50% minimum that investors should look for. Also, Amazon’s relative strength line has been going sideways for a few months.

However, growth stocks had a muted day overall. The Innovator IBD 50 ETF (FFTY) climbed 0.2%.

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StoneCo Earnings

StoneCo earnings soared to 27 cents a share on revenue of $137.6 million. Analysts expected StoneCo earnings of 13 cents a share on revenue of $117 million.

StoneCo stock spiked 20% late to 41.44. Shares closed up 6.4% to 34.60, exactly on a high-handle entry at 34.60. If StoneCo gaps above the 5% buy zone on Tuesday, investors could use the opening price as an entry point.

StoneCo stock jumped to a record 34.50 on March 4, clearing a very deep cup base, but soon reversed and then stabilizing.

Several other payments stocks have broken out. On Monday, Fidelity Information Services (FIS) agreed to buy Worldpay (WP) for $35 billion, continuing a merger wave among payment processors.

Tilray Earnings Report

The Tilray earnings report came in with a 33-cent loss on sales of $15.5 million. Wall Street expected a 15-cent per-share loss on sales of $17 million for the Canadian marijuana producer, though some consensus forecast had a slower sales target. Tilray stock is the only pure marijuana IPO on U.S. exchanges vs. companies listing in America after debuting in Canada.

Tilray stock rose 2.4% to 74 late. Shares closed down 0.4% to 72.24, stuck below the 50-day line.

Tilray stock ran up to 300 on Sept. 19, capping a climax-type run after coming public two months earlier at $17 a share. After a sharp pullback, Tilray stock has moved sideways for the past few months. That’s as many rival marijuana stocks have moved higher in the current stock market rally.


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