Dow Jones Futures: Stock Market Rally At Turning Point As Fed Meeting Looms; What To Do Now


Dow Jones futures fell modestly Sunday evening, along with S&P 500 futures and Nasdaq futures, ahead of a key Federal Reserve meeting this week. The stock market rally saw modest losses last week, but is struggling to find support as a Wednesday rebound fizzled Friday.


The S&P 500 index fell below its 50-day moving average. Apple (AAPL) also broke through the 50-day line, but industrials, including fellow Dow Jones giant Caterpillar (CAT), as well as miners, steelmakers and materials firms were big losers.

But growth stocks had a solid week overall. Microsoft (MSFT), unlike fellow tech titan Apple stock, rallied from its 10-week line. Small caps held key support.

Oil and gas stocks had a big week, with Devon Energy (DVN) clearing an early entry and flirting with an outright breakout. Specialty footwear plays Crocs (CROX), Deckers Outdoor (DECK) and Boot Barn (BOOT) rallied, with the latter two actionable. Chipotle Mexican Grill (CMG) is among…

Read more…