Dow Jones futures will open Sunday evening, along with S&P 500 futures and Nasdaq futures. The Federal Reserve meeting headlines the coming week.
The stock market rally powered to record highs this past week. AI led but the advance was broad.
Nvidia, GE Vernova have forged new bases, along with Shopify and Howmet Aerospace. Rocket Lab has broken out powerfully from its own consolidation.
Tesla raced through the buy zone.
Meta Platforms is working on a new base, with its Connect conference slated for this week.
Rocket Lab and GE Vernova stock are on Leaderboard. Tesla stock is on SwingTrader. Rocket Lab stock and Nvidia are on the IBD 50. Nvidia stock is on IBD Sector Leaders.
The video embedded in the article discusses the market rally's weekly action, while analyzing Nvidia, GE Vernova, Rocket Lab, IonQ and Oklo.
Fed Meeting: What To Expect
The Federal Reserve meeting takes place Sept. 16-17. Markets are locked in on a quarter-point hike on Wednesday afternoon, and see 75 basis points as likely for the full year. Investors will look for continued dovish signals from Fed chief Jerome Powell.
Markets are predicting further cuts in 2026. Powell and most of his colleagues may be reluctant to do so, but President Donald Trump could engineer a massive overhaul of the policymaking FOMC by early 2026.
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 saw strong gains on the major indexes, which all hit record highs. Oracle fueled AI optimism, but the latest economic data reinforced expectations for a Fed rate cut on Sept. 17, with more to come this year.
The Dow Jones Industrial Average rose 0.95% in last week's stock market trading. The S&P 500 index popped 1.6%. The Nasdaq composite gained 2%. The small-cap Russell 2000 only advanced 0.25%, but did hit a nine-month high on Thursday.
The Invesco S&P 500 Equal Weight ETF edged up 0.3%, hitting a record high before pulling back Friday.
The First Trust Nasdaq 100 Equal Weighted Index ETF gained 0.95%, regaining the 50-day line.
The 10-year Treasury yield fell three basis points to 4.06% after briefly undercutting 4% on Thursday morning.
U.S. crude oil futures rose 1.3% to $62.69 a barrel last week.
ETFs
Among growth ETFs, the Innovator IBD 50 ETF jumped 4.2% last week. The iShares Expanded Tech-Software Sector ETF jumped 3.3%. The VanEck Vectors Semiconductor ETF leaped 3.8%, with Nvidia the dominant holding.
ARK Innovation ETF bounced 4.25% last week and ARK Genomics ETF edged up 0.3%. Tesla stock is the No. 1 holding across ARK Invest.
SPDR S&P Metals & Mining ETF rallied 1.95% last week. SPDR S&P Homebuilders ETF fell 2.7%. The Energy Select SPDR ETF climbed 1.4% and the Health Care Select Sector SPDR Fund inched up 0.15%. The Industrial Select Sector SPDR Fund gained 0.4%, with GE Vernova a significant holding.
The Financial Select SPDR ETF jumped 1.4%.
Best Growth Stocks To Buy And Watch
Stocks Near Buy Points
Nvidia stock jumped 6.5% last week to 177.80, regaining the 50-day moving average. The AI chip giant now has a flat base with a 184.48 buy point. Investors could use Thursday's high of 180.28 as an early entry for NVDA stock
GE Vernova stock leaped 7.5% to 625.55, also back above the 50-day line. GEV stock has a new base with a 677.29 buy point. Investors could use Thursday's high of 653.50 as an early entry, still relatively close to the 50-day line.
Shopify stock fell 2.3% to 143.38 last week after the prior week's 3.9% pop after testing its 10-week line. The e-commerce software giant has a new flat base with a 156.85 buy point, according to MarketSurge. Investors could use the recent high of 148.57 as an early entry for SHOP stock, with a trendline offering an even-lower entry.
Howmet Aerospace stock rose 4.25% last week to 185.77, back above the 50-day line. It's actionable now from the 50-day. HWM stock has a 193.26 buy point from a shallow cup base.
Rocket Lab stock soared 16.4% to 53.36 for the week, breaking out past a 50.92 cup-with-handle base with Friday's 10.2% surge. Shares are just within a buy zone, which runs to 53.47. In the prior week, RKLB sold off to briefly undercut the 50-day.
Meta Connect
Meta will hold its annual Connect developers conference starting Wednesday. Analysts expect Meta to unveil its Hypernova augmented reality glasses. But a lot of attention will likely be on how Meta is embedded AI in daily user experiences.
Meta stock edged up 0.4% to 755.59, just holding above the 50-day line and trading around the 21-day. A shallow consolidation just above a prior base needs another week to develop. Investors could use the Sept. 8 high of 766.51 as an early entry.
Tesla Stock
Tesla stock vaulted 12.85% to 395.94, its best weekly gain since late April. Shares ran past the 367.71 consolidation buy point and is now extended. At this point, investors looking to start a position should see if Tesla pulls back or perhaps forges a handle to a consolidation going back to end of last year.
There wasn't much news driving TSLA, but investors are quick to pounce on the stock's bullish technical moves.
What To Do Now
The stock market rally continues to advance. AI is leading the way but it's definitely not alone. Speculative stocks such as RocketLab, Oklo, IonQ and, arguably, Tesla are gaining momentum, though that froth isn't universal.
The major indexes, after several weeks of choppy trading, are not extended from their 50-day moving averages.
It's a time to be heavily invested and perhaps pressing the gas, both in terms of exposure and high-octane names. But don't buy extended. And if the road and weather conditions change, tap on those brakes.
The Federal Reserve meeting and especially its rate-cut outlook is set to dominate the coming week.
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