Dow Jones Futures: Stock Market Rally Holds Gains As Square, Sea, Chipotle Flash

Dow Jones futures rose slightly Tuesday night, along with S&P 500 futures and Nasdaq futures. The stock market rally took a breather Tuesday, edging lower after strong gains over the past few sessions.

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Royal Caribbean (RCL), Carnival (CCL) and Norwegian Cruise Line (NCLH) rallied late on a Bloomberg report that the Centers for Disease Control and Prevention recommended that cruises could resume this summer with certain restrictions. That followed reports indicating that cruise line operators wouldn’t have to require vaccinations for travelers.

Carnival, NCLH and RCL stock rose 2%-3% overnight, adding to gains Tuesday and over the past several sessions. All three stocks are approaching possible buy points.

Carnival earnings are due Wednesday morning.

Breakouts Hold, New Buy Signals

Microsoft (MSFT), Facebook (FB) and Google parent Alphabet (GOOGL) continued to hold in buy range Tuesday after Monday’s breakouts.

Micron Technology (MU), Square (SQ), Sea Limited (SE), Chipotle Mexican Grill (CMG) and Yeti Holdings (YETI) all flashed buy signals, at least intraday.

Tesla (TSLA) is hitting resistance after a recent run. But Tesla stock and other highly valued growth names are showing signs of life.

Microsoft and Google stock are on IBD Leaderboard. GOOGL stock is on SwingTrader. Microsoft stock is on IBD Long-Term Leaders. Yeti stock is on the IBD 50 list. Google and Micron stock are on the Big Cap 20.

Dow Jones Futures Today

Dow Jones futures rose 0.1% vs. fair value. S&P 500 futures and Nasdaq 100 futures climbed 0.1%.

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.

Coronavirus News

Coronavirus cases worldwide reached 133 million. Covid-19 deaths topped 2.88 million.

Coronavirus cases in the U.S. have hit 31.55 million, with deaths above 570,000.

California plans to lift most coronavirus restrictions by June 15, but keep its mask mandate.

Stock Market Rally

The stock market rally had a slightly down session that didn’t alter the bullish trend.

The Dow Jones Industrial Average dipped 0.3% in Tuesday’s stock market trading. The S&P 500 index lost 0.1%. The Nasdaq composite edged down less than 0.1%.

The 10-year Treasury yield fell 6 basis points to 1.66%.

Read The Big Picture every day to stay in sync with the market direction and leading stocks and sectors.

Tech Titans Hold Up

Microsoft stock dipped 0.5% to 247.86. On Monday, MSFT stock rose 2.8% to 249.07, clearing a 246.23 flat-base buy point, according to MarketSmith analysis.

Google stock slipped 0.4% to 2,209.26. GOOGL stock on Monday popped 4.2% to 2218.96, also clearing a flat base, with a 2145.24 entry. Both Microsoft and Google stock flashed early entries last week.

Facebook stock retreated 0.9% to 306.26. FB stock on Monday climbed 3.4% to 308.91, above a 299.81 handle buy point from a six-month consolidation.

Tesla Stock

Tesla stock inched up 0.1% to 691.92. On Monday, TSLA stock rose 4.4% to 691.05 following record delivery figures. But that was near session lows after reaching 708.16 intraday, hitting resistance at its 10-week moving average. Tesla stock also needs to get above its March short-term highs and its 50-day line before investors should pay close attention to the huge 2020 winner.

Top ETFs

Among the best ETFs, the Innovator IBD 50 ETF (FFTY) edged up 0.2%, while the Innovator IBD Breakout Opportunities ETF (BOUT) dipped 0.5%. The iShares Expanded Tech-Software Sector ETF (IGV) advanced 0.6%, with MSFT stock the top holding. The VanEck Vectors Semiconductor ETF (SMH) sank 1.4% after several strong gains.

SPDR S&P Metals & Mining ETF (XME) retreated 1% and Global X U.S. Infrastructure Development ETF (PAVE) lost 0.8%. U.S. Global Jets ETF (JETS) climbed 0.8%.

Reflecting more-speculative story stocks, ARK Innovation ETF (ARKK) popped 1.8% and ARK Genomics ETF (ARKG) was flat. Tesla stock is the biggest holding across ARK Investments’ ETFs. While TSLA stock was quiet Tuesday, it has rebounded over the last several days, while many other ARK holdings also are perking up, including Roku (ROKU), Baidu (BIDU) and Square stock.

Some of Tuesday’s gains in ARK-type stocks might reflect declining Treasury yields. The rising 10-year Treasury yield has weighed on highly valued growth stocks in the past few months.

Stocks In Buy Range

Yeti stock rose 3% to 75.06, reaching 78.40 intraday. That briefly cleared a 76.87 handle buy point. YETI closed right at a downward-sloping trend line, offering a more-aggressive entry. The maker of premium coolers, drinkware and now luggage reclaimed its 50-day line last week. Yeti stock was Tuesday’s IBD Stock Of The Day.

Square stock climbed 2.85% to 236.50, reclaiming its 50-day line and breaking a downtrend. That could offer an early entry for SQ stock. The official buy point is 283.29.

Micron stock…