Dow Jones Futures: Will The Stock Market Rally Strike Out With Apple, Tesla Stock Splits On Tap, TikTok Deal Buzz?

Dow Jones futures will not start trading until Sunday evening, along with S&P 500 futures and Nasdaq futures. The coronavirus stock market rally had another strong week, with the S&P 500 and Nasdaq rising sharply to record highs. The Nasdaq is somewhat extended by various measures, raising the risk of a pullback, but isn't showing weakness yet.

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Before Monday's market open, the 4-for-1 Apple stock split and 5-for-1 Tesla stock split will kick in. Both tech giants have rallied on the split announcement, especially Tesla (TSLA), giving a big lift to the Nasdaq in the past few weeks. With Apple (AAPL) and Tesla stock now "cheaper," will their runs continue?

The Apple (AAPL) split paved the way for a shake-up in the Dow Jones Industrial Average. Salesforce.com (CRM), Amgen (AMGN) and Honeywell (HON) are joining the blue-chip index, while Exxon Mobil (XOM), Pfizer (PFE) and Raytheon Technologies (RTX) are exiting.

Clock Ticking on TikTok Deal?

Investors also are on the lookout for a possible TikTok sale, with reports that a deal could come soon. Last week, Dow stocks Microsoft (MSFT) and Walmart (WMT) teamed up to bid for the U.S. operations of the popular video-sharing site. President Donald Trump has threatened to ban TikTok in the U.S. on national security grounds by Sept. 15 unless China's ByteDance sells off the U.S. business. Microsoft stock and Walmart stock surged last week on TikTok deal buzz. However

Oracle (ORCL) reportedly is a suitor as well. So is U.K.-based Centricus Asset Management, which may be teaming up with TikTok-rival Triller. U.S. TikTok deal potentially hitting $20 billion or more.

Walmart reportedly had originally sought to be the lead buyer, reaching out to Google parent Alphabet (GOOGL) and Softbank before joining with Microsoft. The retail titan sees TikTok as a way to boost "social commerce" as it takes on Amazon.com (AMZN). Social media titan Facebook (FB) announced a big e-commerce push last week, in partnership with Shopify (SHOP).

Apple, Tesla, Amazon and Microsoft are all on IBD Leaderboard. Apple, Shopify and Amazon are on SwingTrader. Microsoft and Salesforce are on the IBD Long-Term Leaders list.

Qualcomm's Caution Regarding Apple, Tesla Stock Splits

Dow Jones Futures Today

Dow Jones futures will reopen 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 actionable stocks in the stock market rally on IBD Live.

Coronavirus News

Coronavirus cases worldwide are at 25.16 million. Covid-19 deaths have topped 845,000.

Coronavirus cases in the U.S. have hit 6.13 million, with deaths above 186,000.

Coronavirus Stock Market Rally Last Week

The coronavirus stock market rally had a strong week, extending August's bountiful gains.

The Dow Jones Industrial Average rose 2.6% in last week's stock market trading, turning positive for the year. The S&P 500 index gained 3.3% and the Nasdaq composite 3.4%, both hitting all-time highs.

Apple stock had a rather tame week, rising just a fraction. But shares are up more than 17% so far this month, after a 16.5% spike in July and almost 15% in June. But other large-cap techs filled the void. Tesla stock rose 8%, while Adobe (ADBE) rallied 9.1% and Salesforce.com (CRM) bounded nearly 31%. Among FANGs, Facebook stock jumped 10%, Netflix rose 6.4%, Google (GOOGL) added 4% and Amazon tacked on 3.4%. Netflix stock vaulted past an early buy point, Amazon extended its breakout, and Google decisively cleared a short consolidation.

Among the best ETFs, the Innovator IBD 50 ETF (FFTY) rose 1.2% last week. The iShares Expanded Tech-Software Sector ETF (IGV) jumped 7.4% thanks to big gains from major holdings Microsoft, Adobe and Salesforce. The VanEck Vectors Semiconductor ETF (SMH) climbed 2.8%.