July 31, 2021

Dow Jones Futures: Indexes Weaken, But Stock Market Reality Worse; Tesla Launches FSD Subscriptions

Dow Jones futures will open Sunday afternoon, along with S&P 500 futures and Nasdaq futures. Tesla (TSLA) launched a subscription option for its “Full Self-Driving” driver assistance program as an alternative to paying a big fee upfront. An OPEC+ meeting will take place Sunday to resolve a  crude oil production deal.


The stock market rally showed further weakness late last week, with Apple (AAPL) and other megacaps no longer providing cover. The major indexes are starting to pull back, especially the Nasdaq. But other indicators are sending more-negative signals, from declining market breadth to leading stocks coming under pressure.

Energy stocks ran out of gas, with Callon Petroleum (CPE) flashing multiple major sell signals as it plunged. Roku (ROKU) and Nvidia (NVDA) sold off, undercutting key short-term averages. ASML (ASML) reversed from record highs ahead of earnings…

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