Dow Jones Futures: Is Market Rally Due For A Pause? 5 Stocks In Buy Areas From Hot Sector

Dow Jones futures were steady overnight, along with S&P 500 futures and Nasdaq futures. Tesla rivals Rivian and Lucid reported after hours, with staffing firm Upwork among the big winners.

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The stock market rally extended its winning streak Tuesday, with Treasury yields pulling back and earnings generally positive. Datadog (DDOG) skyrocketed on a beat-and-raise report, lifting a number of other cloud software names.

In addition to DDOG stock, MongoDB (MDB) and Dynatrace (DT) cleared early entries. Adobe (ADBE) and ServiceNow (NOW) moved above official buy points.

However, market breadth was lackluster at best, with energy stocks tumbling.

Earnings

Tesla (TSLA) rivals Rivian (RIVN) and Lucid (LCID), Akamai Technologies (AKAM), Axon Enterprise (AXON), Upwork (UPWK) and Warren Buffett-backed Occidental Petroleum (OXY) reported Tuesday night.

So did Gilead Sciences (GILD), Array Technologies (ARRY), Upstart Holdings (UPST) and Upwork (UPWK).

Winners: UPWK stock surged more than 15% in late trading after closing just above 50-day line. AKAM stock rose solidly after closing within a buy zone. RIVN stock advanced solidly on better-than-expected Q3 results and a raised full-year production target. AXON stock rose modestly, signaling a possible move back into a buy zone. OXY stock edged higher.

Losers: UPST stock plunged more than 20% on a wider-than-expected loss and weak revenue. ARRY stock dived over 10% as the solar-tracking firm missed on revenue and guidance. GILD stock fell slightly. LCID stock declined solidly as revenue fell well short and the luxury EV maker slashed production goals once again.

Meanwhile, Tesla stock was little changed overnight as its premium EV startup rivals reported. TSLA closed up 1.3% to 222.18, back above the 200-day line but below the 21-day line.

DDOG stock was added to IBD Leaderboard, joining NOW stock. ServiceNow, Adobe and DT stock are on the IBD 50. ServiceNow and ADBE stock are on the IBD Big Cap 20.

The video embedded in this article discusses Tuesday’s market action and analyzes Datadog, MDB stock and Uber…

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