January 29, 2023

Dow Jones Future Signal Stock Exchange Rally in Evergrande News; Fed Meeting in Focus

The Dow Jones futures rose on Wednesday morning with the S&P 500 futures and the Nasdaq futures following claims that China’s Evergrande’s major lender will pay interest. Adobe’s revenue reaction and today’s major Fed meeting are also attracting attention.


The stock market rally tried to recover from Monday’s sale on Tuesday but the mix closed and disappeared. Growth stocks were relatively good Nvidia (NVDA) And Snap (SNAPTrade around aggressive inputs. Auto Nation (A) Rose slightly below the point of purchase.

Adobe (ADBE), FedEx (FDX) And Sewing correction (SFIX) Major revenue after closing. Adobe earnings normally hit the view, but ADBE stock fell after hours, indicating it was moving below a key level. FDX’s share of revenue losses fell sharply due to higher costs amid labor and supply chain woes. SFIX stock rose in surprising gains, but shares have been on a downward trend for several months.

Evergrande loan repayment

The Evergrande Core Unit Hengta Real Estate pays interest on domestic debt by September 23rd, easing default fears, at least in the very short term. Evergrande default fears shook financial markets around the world on Monday. The asset-led consortium is in debt of $ 300 billion and has recently lost two interest payments. There is concern that foreign journalists will face huge losses.

The Shanghai Stock Exchange opened lower after a long weekend, but closed slightly.

Confederation meeting results

Finally, the The Federal Reserve concludes an important two-day policy meeting Wednesday afternoon. Will policymakers agree to re-measure property purchases or will they hold a meeting in early November in the wake of sluggish US job growth and Evergrande concerns? Meanwhile, will most central bank policymakers ever support an interest rate hike in 2022? Following the ED Federation announcement at 2 p.m., Federal Reserve Chairman Jerome Powell will hold a press conference for ET at 2:30 p.m.

The relatively Dowish Fed announcement and Powell’s comments could have boosted the stock market rally. But reports and the market may go the other way.

In other news, the price of a share of the Toast IPO is $ 40, well above the recently raised range of $ 34-36. It estimates the restaurant-technology company at more than $ 20 billion. Toast stock will start trading as TOST on the NYSE today.

The judiciary is investigating Zoom video (ZMAcquisition contract for customer care software maker For 9 (FIVN), Zhou’s China relations raise national security concerns. Accordingly The Wall Street Journal.

Adobe, Nvidia and Snap share IBD Leaderboard. ADBE has stock IPD long-term leaders. There are Nvidia Stock and Auto Nation IPD50. There was also a stock Tuesday IPT role of the day.

The video embedded in this article reviewed market activity on Tuesday and analyzed shares of Nvidia, Automation and Snap.

The future of Dow Jones is today

Dow Jones futures rose a reasonable value against 0.5% on the back of modest losses after Evergrande loan news. The S&P 500 futures advanced 0.4% and the Nasdaq 100 futures rose 0.3%. Adobe Stock is a moderate drag on the S&P 500 and Nasdaq futures.

Remember the action overnight Dove Future And elsewhere does not need to be translated into the next regular regular trade The stock market Session

Join IPD experts when exploring stocks operating on the stock market rally at IPT Live

Stock market rally

The stock market rally started with moderate gains, while key indices were generally positive during the session, before fading before closing.

The Dow Jones Industrial Average fell 0.15% on Tuesday Stock market trading. The S&P 500 index fell 0.1%. The Nasdaq compound rose 0.2%. Small cap Russell 2000 rose 0.2%.

In the middle The best ETFsInnovation IPT 50 (FFTYInnovation IBD Breakout Opportunities ETF (1.5%)But) 0.6% higher. IShares Extended Technology Software Industry ETF (IGV) 0.2% advanced. Adobe Stock is a key IGV component. WanEx Vectors Semiconductor EDF (SMH) Increased by 0.2%. Nvidia Stock is a major SMH holding.

SPDR S&P Metals & Mining ETF (XME1% retreat, and Global X US Infrastructure Development ETF (Pave) Fell 0.8%. US Global Jets ETF (Jets) Decreased by 1%. SPDR S&P Homebuilders ETF (XHB) Gave up 0.5%. Energy Select SPDR ETF (XLE) Increased to 0.2%, and the financial choice SPDR ETF (XLF) Decreased by 0.1%.

Representing stocks with more speculation, ARK Innovation ETF (Arc) 0.9% and ARK Genomics ETF (ARKGHandled at 1.2%.

Now look at the five best Chinese stocks

Adobe Revenue

Adobe Revenue and Revenue Moderately beat financial Q3 ratings. The software company is also leading the way for the current Q4. But Adobe stock fell 3% in pre-market trading, signaling a move below the 50-day line for the first time since June. Shares rose 0.7% to 645.89 on Tuesday, recovering from the 50th day.

Nvidia stock

Shares of Nvidia rose 0.6% to 212.46 on Tuesday. At the low level on Monday, Nvidia wiped out double-digit gains, a very strong selling signal for investors who bought at the end of August. If the NVDA stock is above the intraday high of 214.33 on Monday, serious investors may try to start a position. But Nvidia may want to wait until it returns above its 21-day line and breaks a fall, and the broader market rally will escalate.

Snap stock

Snap stock rebounded strongly from its 50-day line and broke a trend range, spurring early buying opportunity. Shares closed 6.1% to 76.08, near the session high. Snap stock is a Flat foundation With an official purchase point of 80.95 MarketSmith analysis. The comparative strength line, the blue line in the maps provided, is close to the record peak.

Is this just another head fake? Especially in the current market situation it is a risk.

The role of automation

Auto Nation stock rose 1.9% to 121.09 on Tuesday Cup-based Fracture. The Purchase point Is 125.31. Automation begins to develop a handle, which accumulates straight from the bottom of the stock will be a real positive. The Relative strength tax AN stock has already reached a new high, which is a very exciting sign.

When it comes time to sell your favorite stock

Market Rally Analysis

Mixed action on Tuesday, recovering from Monday afternoon lows, could have been worse. At least the market did not trigger a correction call beyond Monday’s low.

But the weak intimacy of Mars is not encouraging. The market rally is under pressure and short-term decline. The Nasdaq compound, which led the key indices, also stopped the 50-day line at the intraday peak. The Dow Jones and S&P 500 are still a short distance from that critical level. Russell 2000 is still 200 days down.

Growth stocks were a fairly good day. Some white-hot IPOs Upstart (UPST) And Mission (Mission), Achievement or culmination.

What to do now

If you are a particularly aggressive trader, you may have tried cock Snap (SNAP) Or ETF like QQQ or FFTY, but no need to add expression. Major indices are all below their 50-day lines and have been even lower over the past few weeks. Waiting for a little more strength will cause you to miss out on some buying opportunities. But you skip down another leg.

The meeting of Chinese markets and the central bank on Wednesday offers potential market catalysts, but which way?

If this stock market rally is going to create another continuous flow, you will be recovering many quality stocks from key support or other flashing buy signals. If it pops up a day or so, you probably won’t progress.

In the meantime, stay focused Creating that watch list. When the market rally shows real strength, you will want to take advantage quickly. Be careful and open-minded.

According to The big picture Every day to stay in tune with the market direction and leading stocks and sectors.

Please follow Ed Carson on Twitter @IBD_ECarson Stock market updates and more.

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