Dowzones futures jumps on easing in Lockdown .Major Company Stocks are in Green Opening.
Dow Jones Industrial Average erased a 362-point loss Monday, as the current stock market rally continues. Dow Jones leaders Apple and Microsoft are in new buy zones.
Earning sessions will be Continued This week because of highly anticipated results from Dowzones stocks Disney.
After closing Monday Session, chip stocks Cirrus Logic and Skyworks Solution s , Freshpet and Chegg reported their earnings results.
Early Tuesday, Cirrus rallied 1% to 72.75, while Skyworks rose 2% to about 101.40. Freshpet declined nearly 4% to 69. Chegg soared 18% to 51.50.
Shares ended on Monday down by 2.6%, extending a losing streak to four sessions.
Dow Jones Futures on Easing Lockdowns
Tuesday Morning- Dow Jones futures rose 1%, or 220 points, vs. fair value, while S&P 500 futures were up 0.9%.
Among the exchange traded funds, Innovator IBD 50 gained 2.3% Monday, snapping a two-day losing streak.
The ETF of top growth stocks remains about 20% off its 52-week high.
Coronavirus Stock Market Rally
According to IBD’s The Big Picture, the stock market continues to strengthen after hitting lows over a month.
Major stock indexes confirmed uptrend on April 2. According to Monday’s Big Picture,
Dowzones futures “The stock market turned in another impressive performance Monday with a weak open and strong close.”
Stock Market Earnings : Lumentum, Regeneron
Lumentum will report fiscal Q3 earnings and analysts expect the maker of optical communications devices to report EPS of $1.07, up 18%, as revenue falls 5% to $409 million.
IBD Sector Leader Lumentum is tracing a cup with handle with an 85.24 buy point.
Current Shares are about 10% away from the entry after Monday’s over-1% gain.
Regeneron is expected to post EPS of $5.73 as sales rise 1.8% to $1.74 billion.
Early Tuesday, the company reported better-than-expected Q1 results and said it plans to begin human studies of its coronavirus treatment in June.
Shares jumped over 3% to 560 in early morning trade.