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Dow Jones Futures: Dow Catching Up As Coronavirus Stock Market Rally Booms; Smartsheet, Cloudera Dive On Guidance - Investor's Business Daily

Dow Jones Futures: Dow Catching Up As Coronavirus Stock Market Rally Booms; Smartsheet, Cloudera Dive On Guidance - Investor's Business Daily

Jun 04, 2020 1 min, 27 secs

The coronavirus stock market rally continued to broaden out and move higher on economic recovery hopes. The Dow Jones and S&P 500 led amid a shift to economic recovery plays, with Boeing surging.

But Smartsheet stock and Cloudera stock tumbled overnight below buy points on weak guidance.

(KLAC) Trade Desk (TTD) and Tesla (TSLA) rival Nio (NIO) cleared buy points during Wednesday's session.

The Nasdaq composite has led the coronavirus stock market rally, with gains concentrated among some big cap and megacap techs and medicals.

Tesla stock, which is in buy range, is on IBD Leaderboard.

Both TTD stock and TSLA stock are volatile growth names that have rallied back from very deep bases.

Join IBD experts as they analyze actionable stocks in the coronavirus stock market rally on IBD Live.

KLA stock rose 4.9% to 186.05 on Wednesday, clearing resistance near 180 and its old high of 184.50.

Trade Desk stock vaulted 11.5% to 354.98 on Wednesday, soaring past a 327.45 cup-with-handle buy point.

Trade Desk stock plunged 56% in the market crash on fears online advertising fears, but it's raced to record highs o economic recovery hopes.

if Trade Desk stock isn't volatile enough, why not try Nio stock.

Tesla stock rose 0.2% to 882.96.

TSLA stock is still in buy range from an 869.92 buy point from a 64%-deep cup-with-handle base.

Smartsheet stock tumbled 23% to 45.50 overnight, signaling a move below recent buy points.

But buying right before earnings is highly risky, especially with Cloudera stock running up into results.

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