Dow Jones Fights After Jobs Hit; Tesla descends while Musk moves into headquarters; Vaccine discontinued at Moderna
The Dow Jones Industrial Average resisted after the decline in the weak jobs report. Tesla (TSLA) Inventories fell after Elon Musk announced he was moving the automaker’s headquarters. modern (mRNA) Stocks fell as Iceland joined several Scandinavian countries in halting the use of its vaccine in young people.
while, cocky (UPST) is a stock worth watching because it forms a rare and very powerful pattern. Energy stocks have been doing well, with parent company Apache what or what (what or what) Pass the point of purchase and EOG موارد Resources (EOG) Return to the purchase area. chevron (CVX) The top was a blue chip.
Jobs report hits stocks
The stock market took a hit after the latest jobs report came in well below expectations. The economy created 194,000 jobs in September, well below the consensus estimate of 475,000.
Salary growth in August was revised higher to 366,000 from 235,000. The unemployment rate fell to 4.8% from 5.1%.
Edward Moya, an analyst at Oanda, said it was a “complex” jobs report that could influence Fed policy.
“This report reinforces the Fed’s view that tapering does not start the countdown to higher interest rates,” he said in a note to clients. “The dollar was initially sold off after the weak jobs report but quickly wiped out most of its losses. If next month’s report also has a similarly slow pace in hiring, Wall Street may become more skeptical of any rate hikes that occur towards the end of next year.”
Nasdaq is late. slammed stock growth
The Nasdaq lagged behind the other major indicators, closing near session lows. It ended up down 0.5%. The S&P 500 briefly made its way into positive territory, but closed 0.2% lower.
US stock market overview today
|Standard & Poor’s 500||(0S & P5)||4391.42||-8.34||-0.19|
Last update: 4:02 PM ET 10/8/2021
The S&P 500 sectors closed mostly negative, with only the energy and financial sectors making progress. Utilities and real estate ended up being the worst laggards.
The beanie hats were falling out again, and they are sold in closure. The Russell 2000 index fell 0.8%.
But it was the growth stocks that suffered the worst bombardment from the bears.
The Innovator IBD 50 ETF (fifty) closed down 1.4%.
Dow Jones fights; chevron stock lead
The Dow Jones Industrial Average has outperformed the major indices. However, the rally weakened to the close, and closed the day almost flat.
Chevron was the best performer on the Dow today. Strength in the energy field helped shut down a major oil rally with gains of just over 2%.
The stock is back above its 50-day moving average and aims for a consolidation entry point at 113.21, According to MarketSmith analysis.
merck (Mrk) was the worst decline for the Dow Jones Index, down 1.6%.
Modern stock hit on stopped vaccine
Moderna’s stock has been struggling after it emerged that Iceland was the latest Scandinavian country to demand a halt to its vaccine being given to young people.
Finland, Denmark and Sweden are also limiting the use of the Moderna Covid-19 vaccine among young people, amid concerns about cardiovascular side effects.
The Finnish National Health Service is temporarily halting use of the Moderna vaccine for all males age 30 or younger.
The vaccine has stopped being used in people born in or after 1991 in Sweden. Denmark stops paying for everyone under the age of 18.
Moderna stock finished the day off its lows but still down about 1.4%. Pfizer Inc fell 0.7%, while BNTX fell 0.3%.
Tesla stock fell after Elon Musk moved to his headquarters
Tesla stock fell on Friday after the CEO Elon Musk told investors The company’s headquarters will move to Austin, Texas, from Palo Alto, California.
He also said he believed the worst parts supply crisis, especially the chips shortage, would be over by 2023.
The stock got a boost Thursday after Musk tweeted an update When the latest version of Tesla’s fully autonomous driver assistance software is released.
“FSD Beta 10.2 is being rolled out at midnight on Friday to approximately 1,000 owners with optimal security scores of 100/100,” he said. “The rollouts will be up for a few days after that to see how it goes.”
Musk also said that if that “looks good,” the beta will be rolled out gradually to owners with a score of 99 and lower.
leaderboard arrow It ended the session 1% lower, but still in a potential buying area from the handle entrance at 764.55.
power reserve energy
Energy stocks were posting solid gains again on Friday, with a few entering actionable territory.
APA The original Apache is in the buy area after exiting the base of a teacup with a handle. The ideal buy point here is 23.88.
The RSI has made solid gains since late August, which is positive. The stock has been in the top 8% of stocks in terms of price performance over the past 12 months.
EOG Resources is back in the buying zone after having previously crossed a key entry for the cup at 88.09. The company was dubbedAn apple (AAPL) of oil” because it has used technology in its utility operations since its separation from Enron in 1999.
Rare style stock shapes
Lending platform Upstart stocks deserve to be added to their watch list as they form a rare pattern that can yield massive profits.
The stock has held its gains well since exiting the cup base in August. In addition, it is up nearly 100% since it gapped on August 11th.
This gives the weekly chart the appearance of a Flag high and narrow. This is a rare and powerful pattern that can lead to rich profits.
Her impressive performance earned her a place in the Leaders Watch List. Using its recent high as a potential entry, it presents a buy point at 346.64.
This kind of rule in the past has led to huge gains for leaders like Qualcomm (QCOM) and Taser International, now Axon Enterprise (Axon). Keep in mind, however, that successful flag patterns are rare.
Upstart uses artificial intelligence to help improve access to “affordable credit” for customers. It also claims to reduce the risks and costs of lending to banking partners.
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