Dow Jones Futures: Market Rally At Highs With Apple Earnings Due; Hold or Sell Tesla Stock? - Investor's Business Daily

Dow Jones futures will open Sunday evening, along with S&P 500 futures and Nasdaq futures, after the stock market rally rebounded from key levels back to record highs.

Tesla earnings loom on Monday night, with Apple stock, Microsoft (MSFT), Amazon.com (AMZN), Facebook (FB) and Google parent Alphabet (GOOGL) also due this coming week.

The stock market rally made bullish moves last week, with the S&P 500 index and Nasdaq composite at record highs.

Apple (AAPL) and the tech megacaps have run up a lot heading into earnings, already pushing the market rally back toward extended levels.

Nvidia stock, Tesla, Microsoft and Google are on IBD Leaderboard.

Microsoft stock and Google are on IBD Long-Term Leaders.

Remember that overnight action in Dow futures and elsewhere doesn't necessarily translate into actual trading in the next regular stock market session.

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

The stock market rally started the week poorly but then powered higher impressively.

The Dow Jones Industrial Average rose 1.1% in last week's stock market trading.

Apple stock rose 1.5% last week and Microsoft 3.2%.

Microsoft, Facebook and Google stock hit record highs Friday.

In the week ended July 16, Nvidia stock fell sharply.

That was an ominous sign for the market rally given that Nvidia arguably has been the standout stock from the mid-May lows.

Note that AMD earnings are on tap Tuesday, a potential catalyst for Nvidia stock.

Tesla stock edged down 0.1% to 643.38 last week, testing and holding support at its 200-day line but stuck below some aggressive buy points, such as 700.10.

Back on June 23, Tesla stock reclaimed its 50-day line, right around 642.

The stock market rally opened the week with heavy losses, extending a recent losing streak amid a number of warning signs.

Some leaders held support or closed higher on Monday, such as Nvidia stock and DocuSign (DOCU).

Clearly, the stock market rally is in better shape than on Monday morning, but there are some concerns?

Many of the megacaps had big moves last week, notably FB stock and Google, while Apple, Microsoft and Amazon had solid gains.

After Tesla stock on Monday, Apple, Microsoft, Google and AMD all report on Tuesday, with Facebook earnings on Wednesday and Amazon on Thursday?

Please follow Ed Carson on Twitter at @IBD_ECarson for stock market updates and more.

IBD Digital: Unlock IBD's Premium Stock Lists, Tools And Analysis Today.

Nvidia In the prior week Nvidia fell sharply – an ominous sign for what might be the standout stock from..

Nvidia In the prior week Nvidia fell sharply – an..

Get instant access to exclusive stock lists, expert market analysis and powerful tools with 2 months of IBD Digital for only $20