The Dow Jones futures were low, with the stock market down on Thursday, two days after a sharp stock market sell-off. Investors are eyeing the initial release of weekly unemployment claims data, after the Hawkeye Fed minutes on Wednesday gave birth to heavy losses. The 10-year Treasury yield has risen again, at the pace of extending a winning streak to five sessions.
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Among the Dow Jones leaders, Apples (AAPL) inches higher, and Microsoft (MSFT) The stock market today has been largely unchanged.
PC Maker HP (HPQ) Warren Buffett’s Berkshire Hathaway jumped more than 12% on Thursday morning after releasing an 11% stake. The giant of the electric car Tesla (TSLA) rallied about 2% early Thursday, recovering from Wednesday’s sharp loss ahead of the company’s cyber rodeo event.
As stock market declines, Dow Jones is the financial leader American Express (AXP) – with Alphabet (GOOGL), Broadcom (AVGO), IBD Leaderboard Watchlist Stock Solar Edge Technologies (SEDG), Regeneron Pharmaceuticals (REGN) and Shell (Shell) – One of the top stocks on Thursday for buying and viewing.
Arista, Microsoft and Tesla are IBD leaderboard stocks. Darling Ingredients and Tesla stocks have been featured in this week’s Stocks Near A Buy Zone column.
Dow Jones Today: Treasury yields, oil prices
Before opening on Thursday, the Dow Jones futures lost 0.3% vs. fair value, and the S&P 500 futures fell 0.2%. The Nasdaq 100 futures traded down 0.2% at a fair price in morning trade.
Among exchange-traded funds, the Nasdaq 100 Tracker Invesco QQQ Trust (QQQ) fell 0.2%, and the SPDR S&P 500 ETF (SPY) fell 0.2% before opening on Thursday.
On Wednesday, 10-year U.S. Treasury yields extended this week’s gains to 2.60%, reaching a new 52-week high. The 10-year yield continued to be higher on Thursday morning, rising to 2.62%, the highest level since March 2019.
Meanwhile, US oil prices rose more than 2% on Thursday morning as West Texas Intermediate crude returned above $ 98 a barrel. WTI topped about 6% on Wednesday, settling just above $ 96.
First-time unemployment claims fell to 166,000 vs. 202,000 in the previous week, following a unanimous forecast that calls for unemployment claims to remain stable at 202,000.
Stock market rally
On Wednesday, the stock market posted a disappointing performance, as the Nasdaq Composite sold a further 2.2%.
The Big Picture column commented, “Nasdaq Composite has done the worst because tech stocks and stocks with high price-to-earnings ratios have generally hit. Nasdaq ended the day down 2.2%. However, the support it has received at its 50-day moving average is positive.
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Investors can also create watchlists, find companies near a buy point, or create custom screens on IBD MarketSmith.
Now four Dow Jones stocks to watch
To buy and view Dow Jones stock: American Express
Dow Jones financial stock American Express is tracing a cup with a handle with 194.45 by points. Shares fell 0.9% on Tuesday, closing just below the 50-day moving average line. AXP shares rose 0.3% on Thursday morning.
Keep an eye on the relative strength line of the stock. In its recent climb, the RS line is close to its old height, but there is some work to be done for it before a possible breakout. The RS line measures the performance of a stock price.
Buy and see the four top growth stocksrCapital market rally
To buy and view stocks: Alphabet, Broadcom, Darling, Regeneron, Shell
According to IBD MarketSmith chart analysis, Tuesday’s IBD 50 stock to watch showed 2,875.97 buy points in a cup with pick, alphabet, handle. GOOGL shares are about 5% away from entry after Wednesday’s 2.9% slide FANG stocks rose 0.4% on Thursday morning.
Broadcom slipped 2% on Tuesday, as chip stocks dropped an early entry at 614.74. The shares put another buy point, a handle entry at 645.41. AVGO shares rose 0.3% on Thursday morning.
IBD Leaderboard Watchlist Stock SolarAge Technologies ended Wednesday down nearly 5% below the 340.10 cup-y-handle buy point. The stock jumped 1.2% on Thursday morning.
Biotech leader Regeneron Pharmaceuticals moved out of the buying range above 673.96 flat-base entry after Wednesday’s 2.4% advance. Top 5% by Zone 707.66. The stock was flat on Thursday.
Oil-and-gas producer and Friday’s IBD stock of the day, Shell, is within a significant distance of 56.23 by points on a flat base after Wednesday’s 0.7% rise. The company has warned of পর্যন্ত 5 billion in damages since its decision to sever ties with Russia. Share prices rose on Thursday morning.
Join IBD experts as you analyze the top stocks at the current stock market rally on IBD Live
Tesla stock
Tesla stocks advanced 1.2% early on Thursday, looking to rebound from Wednesday’s 4.2% fall. Shares of EV Giant are falling further away from the 1,208.10 by-point of the Cup base and about 13% away from recent entries after two consecutive days of sharp losses. Meanwhile, Tuesday’s weakness could be the start of a proper handle that will offer a more risk-friendly entry.
The company’s cyber rodeo event is scheduled for Thursday morning. Investors are hoping the company can deliver the first Model Y produced at its factory in Austin, Texas.
The stock traded as high as 1,243.49 on November 4 and ended Wednesday, about 16% away from its all-time high.
Dow Jones Leaders: Apple, Microsoft
Among Dow Jones stocks, Apple shares fell 1.85% on Wednesday, falling further below its double bottom 176.75 buy points. AAPL stocks higher in early Thursday.
Software leader Microsoft declined 3.7% on Wednesday, as shares sought to form a new base. Shares of Microsoft traded unchanged on Thursday morning.
Be sure to follow Scott Lehtonen on Twitter @IBD_SLehtonen Learn more about growth stocks and the Dow Jones Industrial Average.
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