Dow Jones Futures: Taiwan Semi, 7 Leaders Offer New Chance; Super Micro Soars On S&P 500 News

Dow Jones futures tilted lower Sunday night, 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.

Super Micro Computer (SMCI) and Deckers jumped Friday night on news that the market leaders will join the S&P 500.

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, Super Micro, Deckers 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 fell 0.15% vs. fair value. S&P 500 futures dipped 0.1%. Nasdaq 100 futures edged lower.

The 10-year Treasury yield edged up to 4.2%.

Crude oil futures were little changed. OPEC+ on Sunday agreed to extend current production cuts through June, as expected.

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 generally moved…