Dow Jones futures returned more than 200 points on Thursday, following a sell-off in the stock market on Wednesday. Apple stock slipped on demand for the allegedly weak iPhone. Boeing rallied on the news of the 737 Max. Meanwhile, Five Bello and Snowflake surged on strong earnings results.
Among the Dow Jones leaders, Apple (AAPL) traded down more than 3% early Thursday Microsoft (MSFT) rose 0.1% in today’s stock market. Nike The NKE rose 0.3 percent after Wednesday’s loss, still below the buying point.
Electric Vehicle Leader Tesla (TSLA) rose 0.8% in the pre-market on Thursday. EV Monday Raven (RIVN) was down about 1%, while Lucid Group (LCID) decreased by 2%. Chinese EV leader Lee Auto (LI) and Expanding motors (XPEV) was up about 2% before Thursday’s opening.
Top stocks to buy and view, Lee Auto, NXP Semiconductors (NXPI), Pfizer (PFE) and Zem Integrated Shipping (ZIM) are in or near the new purchase zone. Deteriorating stock market conditions mean that the environment is not conducive to new purchases.
Microsoft and Tesla have IBD leaderboard stocks. NXP is an IBD SwingTrader stock. Apple and Lee Auto stocks are prominent in this week’s buy zone story.
Dow Jones Today: Unemployment Claims
Before the stock market opened on Thursday, Dow Jones futures rose 0.6 percent BoeingBA’s big jump. S&P 500 futures rose 0.2% above fair price, and Nasdaq 100 futures fell 0.4%. Remember that pre-market action on Dow Jones futures and elsewhere does not necessarily translate into real trading at the next regular stock market session.
Among exchange traded funds, the Nasdaq 100 Tracker Invesco QQQ Trust (QQQ) fell 0.2% pre-market on Thursday, while the SPDR S&P 500 ETF (SPY) rose 0.3%. Elsewhere, 10-year Treasury yields rose 2 basis points to 1.42%.
The Labor Department said weekly jobless claims rose to 222,000 from 199,000 last week. That number was better than Econoday’s estimates for the initial unemployment claims of 245,000.
Stock Market ETF Strategies and How to Invest
Stock market pullback
On Wednesday, stock market sales worsened as investors reacted to the first case of corona virus variant Omkron in the United States, with major stock indexes falling sharply in the second session. The Dow Jones Industrial Average closed below its long-term 200-day moving average. The S&P 500 left its 50-day key line. And the Nasdaq closed its 50-day line.
After the session, The Big Picture commented: “Nasdaq exited the blocks, but the gains melted away at the start of the session. It ended the day at a low of 1.8%. Was for that day, which means that the composite index did not add another day of distribution. “
The stock market outlook was downgraded to an upward trend under pressure on Tuesday, so this is an important time to read IBD’s The Big Picture.
Top five Dow Jones stocks to look at right now
Dow Jones stocks to watch: Apple, Boeing, Nike
Shares of Apple fell nearly 3% on Thursday morning when Bloomberg reported that Apple had warned its suppliers that demand for the iPhone 13 lineup had weakened. Apple stock hit new highs on Wednesday before reversing a 0.3 percent decline.
At the end of Wednesday’s session, Apple shares rose 153.27 buy points from the handle base with the cup, according to IBD MarketSmith chart analysis. Thursday’s pre-market action suggests the stock could potentially reopen in the ٪ 5 buy zone, topping 160.93.
Aerospace giant Boeing jumped about 5% pre-market on Thursday. According to Reuters, China’s Aviation Authority has issued Boeing 737 Max airworthiness instructions to return to service in China. Shares of Boeing closed at a 52-week high of more than 30% on Wednesday.
Retail leader Nike is trying to recover after falling two further losses from its Cup Base 174.48 buy point. Shares rose 0.3 percent in the pre-market on Thursday.
Stock Market Earnings: CrowdStrike, Five Down, Snowflake
Cybersecurity leader Crowd Strike rose nearly 2% early Thursday after reporting strong third-quarter earnings and sales results. Shares fell more than 30% to their 52-week high on Wednesday.
Discount retailer Five Bello reported third-quarter results that easily beat expectations and provided strong year-over-year forecasts. The stock jumped 9% pre-market on Thursday as it seeks to regain its 50-day high. 221.10 is also becoming the base of the handle with the cup with the buy point.
Snowflake reported lower-than-expected losses for the third quarter, while earnings surpassed previous estimates. Shares of SNOW rose 14% in the pre-market on Thursday, as they try to avoid falling 8.6% on Wednesday.
Stocks to buy and view: Lee Auto, NXP, Pfizer, Zim
Lee Auto ended Wednesday with a cup above the handle base’s 34.93 buy point, which was a quick breakout move. Shares rose on Wednesday morning after strong delivery numbers, but closed with a 1% loss. Lee Auto stock rose nearly 2% on Thursday.
Chip Leader and new IBD SwingTrader stock NXP Semiconductors are trying to move above the 227.60 buy point in the handle base with a cup, but closed below the buy point amid a sharp reversal on Wednesday. Shares rose 0.2 percent on Thursday.
Drug company Pfizer is just outside the 51.96 buying point in the cup base after a 1.75% increase on Wednesday. 5% Purchase Zone topped at 54.56. Shares fell nearly 1 percent on Thursday.
Despite being in a two-day deficit, the recent initial public offering Zim Integrated, an IPO leader, continues to build a handle base with a cup with a 60.19 buy point, according to the IBD MarketSmith chart analysis. Is. The shares are about 11% away from the latest entry. ZIM stocks rose about 0.3 percent on Thursday.
Join IBD experts as they analyze the leading stocks in the current stock market trend on IBD Live.
EV Stocks: Expanding, Lucid Motors, Raven
Xpeng Motors is up slightly from its 48.08 buy point in a cut cup base after Wednesday’s 7% skid. Shares of XPEV rose more than 3% on Thursday.
Shares of Lucid Motors threatened to extend the two-day slide, falling just over 1% on Thursday. The LCID stock is so far stretched after a 28.49 buy point in the handle base with a cup.
Hot IPO Raven was down more than 1%, adding 3.4% to Wednesday’s decline.
Shares of RIVN closed at about 36% of their post-IPO highs on Wednesday. This reduction is a potential positive for investors who stay in discipline before considering a purchase and wait for the IPO to become the basis. The recent weakness is the beginning of the formation of the first foundation of Raven.
Tesla stocks rose 1% in the pre-market on Thursday, on the back of a small fraction of Wednesday’s 4.35% decline. Shares traded up 1,243.49 on November 4, but the stock fell nearly 12% to its 52-week high on Wednesday.
Shares of TSLA rose sharply with 764.55 buying points in the handle cup as well as earlier entries at 700.10 and 730. The chart also showed an alternative entry at 900.50. Shares of Tesla are likely to form a new base, but there is no new buying point yet.
Dow Jones Leaders: Microsoft
In Dow Jones stocks, software giant Microsoft fell 0.3 percent pre-market on Thursday, accelerating its two-day loss. Positively, the stock’s RS line is at new highs, indicating strong stock market performance during this week’s market weakness.
On October 18, Microsoft stock surpassed Flatbase’s 305.94 buy point. 5% buy zone topped 321.24, so the stock was increased.
Be sure to follow Scott Leighton on Twitter IBD_SLehtonen For more information on Growth Stocks and the Dow Jones Industrial Average.
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