Stock Market Rally Attempt Begins; Tesla Jumps Amid EV Credit Guidelines
Dow Jones futures tilted lower after hours, along with S&P 500 futures and Nasdaq futures, heading into the final trading day of 2022. The major indexes rose strongly Thursday on jobs data, mansanas (AAPL) iPhone news and Tesla (TSLA) continuing to bounce. But the market is in a correction after breaking key levels Wednesday. Thursday marked just day one of a new stock market rally attempt. Investors should be very cautious about taking new positions. Medpace (MEDP) flashed a buy signal Thursday, while Ang KLA Corp. (KLAC), Starbucks (SBUX), United Rentals (URI), Mobileye (MBLY), Super Micro Computer (SMCI) at fluorine (FLR) are setting up. But these stocks will likely rise or fall with the market. MEDP stock, Fluor and United Rentals are on IBD Leaderboard. KLAC stock is on Mga Pangmatagalang Pinuno ng IBD. MBLY stock is on the IBD 50. KLA Corp. and URI stock are on the IBD Big Cap 20. Meanwhile, new Treasury Department guidelines stated that many Model Y vehicles will not qualify for U.S. tax credits starting Jan. 1 without sharp price cuts. But theres a loophole that may allow all Tesla vehicles — and any EVs — to qualify for hefty tax credits at any price. Dow Jones Futures