U.S. stocks soared at the end of last week. The S&P 500 and Nasdaq futures rallied along with the Dow Jones futures on Sunday night. Netflix, JPMorgan Chase, and Domino’s Pizza also gained significantly over the last months. Domino’s stock entered a buy zone on Friday.
The S&P 500 futures climbed up by 0.55%, while Nasdaq 100 futures surged forward by 0.6%. Dow Jones futures also jumped by 0.65% versus its fair value.
Meanwhile, Apple stock rallied by 5.4% last week. Microsoft stock rose by 3.6%, and Amazon stock skyrocketed by 10.7%. Apple has a $1.66 trillion market cap so far, with Microsoft stock at $1.62 trillion and Amazon stock just below $1.6 trillion.
Domino’s stock increased by 6.5% to 398.31. It broke past a 395.09 buy point after a couple of months of sideways action. Several other top stocks are at or near buy points as well.
Stocks continue to rally despite surging coronavirus cases
Coronavirus infections continue to surge in the U.S. Global Covid-19 cases have already topped 13 million. For the last few days, the coronavirus stock market rally was quite strong.
The Nasdaq and growth stocks hit high over the last week, with Microsoft, Apple, and Amazon.com also increasing sharply. Tesla and Netflix stocks continue gaining as well.
Netflix stock soared by 15% after the prior week’s 7.55% pop, while Tesla stock skyrocketed by 28% after a 26% run.
On Friday, Tesla set its annual shareholder meeting and Battery Day for Sept. 22. It dropped the price of its Model Y crossover by $3,000 recently. The company settled at $49,900 for the base version. This may be a sign of weak demand for the brand-new Tesla Model Y.
According to reports, Analog Devices is negotiating to buy Maxim Integrated for more than $17 billion. If the semiconductor deal finalizes, it would be one of the biggest takeovers of 2020.
