The Dow Jones Industrial Average rose on Thursday after the stock market’s recovery failed on Wednesday. tech giant ID pads (FB) increased by more than 18%. while, PayPal (PYPL), Qualcomm (QCOM) And Twitter (TWTR) were the main driver of earnings early Thursday. Apple earnings are due after closing.
Stock market today: Facebook is up
Meta platforms mentioned the origin of Facebook First quarter earnings results are better than expected late Wednesday, but it slipped off revenue. FB shares jumped more than 18% in morning trading.
PayPal Reach Wall Street Profits and Sales TargetsWhich led to a gain of 4.5% in early morning trading. Qualcomm Fascinating views of Wall Street For the second quarter of the fiscal year and headed upwards during the current period. QCOM shares jumped about 8%.
Twitter announced its quarterly results, sending shares up about 1% Thursday morning. electric car giant Tesla (TSLA) is up about 1% Thursday morning.
Amid a new correction in the stock market, the leader of Dow Jones American Express (AXP) – along with Expedia (EXPE), Palo Alto Networks (bano) And IBD Leaderboard stock watch list world wrestling entertainment (WWE) – Among the top stocks to watch on Thursday.
Dow Jones today: Treasury yields and oil prices
After Thursday’s opening, the Dow Jones Industrial Average advanced 0.6%. Meanwhile, the S&P 500 rose 1.3% and the Nasdaq jumped 1.9%. The S&P 500 and Nasdaq Composite are experiencing three consecutive weekly losses.
The 10-year Treasury yield advanced to 2.85% Thursday, after closing at 2.81% on Wednesday. Last week, the 10-year Treasury yield reached its highest level since December 2018. Meanwhile, US oil prices fell, with Texas Intermediate crude trading below $102 a barrel.
US Gross Domestic Product and Weekly Unemployment Claims released at 8:30 AM ET. First-quarter GDP unexpectedly declined 1.4% in the first quarter versus fourth-quarter growth of 6.9%. Meanwhile, initial jobless claims fell to 180,000 from 184,000 the previous week.
stock market correction
On Wednesday, the major stock indexes gave up strong gains to close mixed and away from intraday highs.
What will happen next is not clear. As the market approaches the last sessions of April, a bounce could trigger another bounce Try a new crowd. But with all three major indicators predicting losses, it could happen deepening stock market correction, Investors should be on the defensive.
This means taking profits and collecting liquidity. Also, keeping a watch list of stocks that are holding up well in a bear market is a good way to prepare for the stock market’s next uptrend.
Finding the next upside leaders while the market is still correcting is a challenge. One useful way is to use arrows Relative force line. The RS line measures the stock’s price performance against the S&P 500 Index. If the stock is outperforming the broader market, the RS line tends to the upside. If the stock is performing worse than the broad market, the line will indicate a decline.
wednesday big picture The column commented, “The S&P 500 ended up giving up the bulk of its gains, although it closed 0.2% higher. The fact that it failed to defend the 4200 level was disappointing, given that it spent the greater part of the day above it. Standard & Poor’s mixed sectors closedMaterial and energy are the biggest winners. Communications services were by far the worst inaction.”
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Dow Jones earnings: Amgen, Caterpillar, McDonald’s
Dow Jones shares reported earnings for Caterpillar and McDonald’s ahead of Thursday’s open. Amgen reported late Wednesday.
Caterpillar topped first-quarter earnings and sales targets, but shares still fell about 4% in morning trading. CAT stocks are trying to find support around the 50-day line after the breakout move beyond the 227.15 buy point failed.
McDonald’s stock rose about 1% after the report First quarter results are better than expected. Stocks are building the right side of a new base, but Wednesday closed below the 200-day line.
Amgen Reported strong results in the first quarterBut poor guidance has sent shares down more than 5%. Amgen shares follow a cup with a handle that has 258.55 buy points.
Dow Jones stocks to watch: American Express
American Express Securities in Dow Jones ended Wednesday off the 50-day streak and about 8% off a cup with 194.45 buying points after Wednesday’s 0.6% drop. AXP shares rose 1.2% Thursday morning.
Watch the stocks line of relative strength. Amid its recent rally, the RS line is starting to approach its old highs, which means it is once again outperforming the broad market.
Stocks to watch: Expedia, Palo Alto, WWE
Today’s stock from IBDExpedia, continues to build a mug with a handle worth 204.08 purchase points, according to IBD Market Smith Graph analysis. Stocks are still below the 50-day line after Wednesday’s 2.2% rally. EXPE STOCK 92 of the 99 IBD rating shows the ideal compound, for each IBD stock check. Shares were trading up 0.9% Thursday morning.
Palo Alto Networks closed the top cyber security stocks at the 50-day streak after two consecutive days of losses. PANW stock is up 1% early Thursday.
IBD Leaderboard World Wrestling Entertainment is also testing its 50-day moving average, which is down 1.7% on Wednesday. The stock is just under 60.94 pips in a cup with a handle. WWE stock fell a bit Thursday morning.
Tesla stock is up more than 1% Thursday morning after the stock collapsed through its 50 and 200-day moving averages during Tuesday’s 12.2% drop.
Shares of the electric-car giant on Wednesday finished about 24% off their 1,152.97 handle cup buy point. The stock traded as high as 1,243.49 on November 4th and is 30% away from its all-time high.
Dow Jones Leaders: Apple and Microsoft
within Dow Jones stockApple shares gave up support at the long-term 200-day line, and fell 3.7% on Wednesday. Shares rose more than 2% Thursday morning. Apple’s earnings are set to expire after the shutdown. The iPhone maker is expected to earn $1.42 per share on sales of $94 billion.
Software leader Microsoft jumped nearly 5% on Wednesday, but it’s still short of its 50 and 200-day streaks. The stock has closed about 20% from its 52-week high. MSFT stock rose 0.7% early Thursday.
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