Dow Jones futures were little changed overnight, along with S&P 500 futures and Nasdaq futures. The stock market rally rebounded Tuesday, with the S&P 500 retaking the 4,000 level.
Deere (DE) reports earnings early Wednesday, with DE stock in a buy zone. Deere earnings and guidance could be important for a variety of agriculture stocks, including CF Industries (CF) and Archer-Daniels-Midland (ADM), as well as machinery makers such as Caterpillar (CAT).
Energy stocks continue to do well. Solar leader Enphase Energy (ENPH), coal producer Peabody Energy (BTU), refiner CVR Energy (CVI), natural gas producer EQT Corp. (EQT) and LNG stock Excelerate Energy (EE) are all near buy points.
EE stock broke out on Wednesday, with Enphase moving back into a buy zone. BTU stock, CVR Energy and EQT are actionable.
ENPH stock is on IBD Leaderboard. EQT stock is on SwingTrader. Deere stock is on the IBD 50. Peabody Energy is Tuesday’s IBD Stock Of The Day.
Dow Jones Futures Today
Dow Jones futures were little changed vs. fair value. S&P 500 futures lost 0.1%. Nasdaq 100 futures fell 0.25%.
Crude oil prices edged higher. Natural gas futures climbed 2%.
New Zealand’s central bank hiked rates by a record 75 basis points, as expected.
Fed minutes from the November meeting will be released Wednesday.
Remember that overnight action in Dow futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.
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Stock Market Rally
The stock market rally opened mixed Tuesday but gained stream for broad-based gains, closing near session highs.
The Dow Jones Industrial Average rose 1.2% in Tuesday’s stock market trading. The S&P 500 index and Nasdaq composite both jumped nearly 1.4%. The small-cap Russell 2000 popped 1.1%.
The 10-year Treasury yield fell 7 basis points to 3.76%. But the two-year Treasury yield, more closely tied to Fed policy, was roughly flat at 4.53%.
The dollar, after rallying for the prior three sessions, fell back on Wednesday….