Dow Jones Futures: Nasdaq Hits Record High, Taiwan Semi Jumps; Here’s What To Do Now

Dow Jones futures will open Sunday evening, along with S&P 500 futures and Nasdaq futures.

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The stock market rally continued to advance, with the Nasdaq composite hitting a record high, joining the S&P 500.

Taiwan Semiconductor Manufacturing (TSM), Monolithic Power Systems (MPWR), Microsoft (MSFT), Palantir Technologies (PLTR), Deckers Brands (DECK), Eli Lilly (LLY), Coherent (COHR) and Uber Technologies (UBER) are stocks to watch. All are market rally leaders that have been consolidating for a few weeks, offering new chances to buy them.

Several of these are AI plays, with Nvidia (NVDA) and chipmaker Taiwan Semi riding the wave for advanced semiconductors.

However, the Nasdaq and S&P 500 are extended once again. After a brief window, investors may want to be cautious again.

Uber stock is on IBD Leaderboard. Microsoft, Palantir, Eli Lilly and Taiwan Semiconductor stock are on SwingTrader. Microsoft stock is on IBD Long-Term Leaders, with Monolithic Power on the Long-Term Leaders watchlist. Palantir stock is on the IBD 50. Deckers stock, Palantir and Uber Technologies are on the IBD Big Cap 20.

The video embedded in this article highlights the week’s market action and analyzes Taiwan Semiconductor stock, Tidewater (TDW) and Confluent (CFLT).

Dow Jones Futures Today

Dow Jones futures open at 6 p.m. ET on Sunday, along with S&P 500 futures and Nasdaq 100 futures.

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 leading stocks and the market on IBD Live

Stock Market Rally

The stock market rally generally moved higher in the past week, led by tech and small-cap stocks.

The Dow Jones Industrial Average dipped 0.1% in last week’s stock market trading, with Apple stock and UnitedHealth (UNH) acting as drags. It’s still close to all-time highs. The S&P 500 index rose 0.9%, marking a record high on Friday. The Nasdaq composite…