Dow Jones reflects on the background of a hot inflation report; Amazon and Apple rally around profits

The Dow Jones Industrial Average reversed from early losses to rise Friday morning on the back of a hotter-than-expected inflation report. and tech giants amazon.com (AMZN) And the apple (AAPL) after announcing strong earnings results late on Thursday.




X



amazon stock It rose by 11% in morning trading, while Apple shares popped 2.5% before the market opens.

Other key factors for earnings include Friday morning energy giants chevron (CVX) And the ExxonMobil (XOM), First Solar (FSLR) and Dow Jones Intel Corporation (INTC). Chevron shares are up about 4%, while Exxon shares are up about 2%. First Solar gained 4%. Intel stock fell 11% after that Severely Missing Estimates for the second quarter and downgraded forecasts for the full year.

Tesla (TSLA) rose early on Friday. in another place, Technology leader Dow Jones Microsoft (MSFT) rose 0.8% after that stock market today Open.

In a volatile stock market environment, Dow Jones stock United Health (United nations) – Beside ELF Beauty (dwarf), Quanta Services (PWR), Ulta Beauty (ULTA) And the Vertex Pharmaceuticals (VRTX) – Among the stocks to watch. Keep in mind that the constant volatility in the stock market is a reason to remain more conservative despite recent signs of strength.

UnitedHealth and Vertex IBD Leaderboard Stores. ELF and Ulta appeared in This week’s stock is near the buy zone bar.

Dow Jones today: Treasury yields, oil prices, and inflation report

After Friday’s opening, the Dow Jones Industrial Average rose 0.2%, and the S&P 500 gained 0.7%. The technology-heavy Nasdaq was up 1.1% in morning trading.

within Exchange Traded FundsNasdaq 100 Invesco QQQ Trust Tracker (QQQ) rose 1.1%. and the SPDR S&P 500 ETF (spy) rose 0.7%.

See also  Global markets stumble and oil prices rise sharply with the Russian attack on Ukraine

The 10-year Treasury yield rose to 2.71% on Friday morning, reclaiming part of Thursday’s drop to 2.68%. This week, the 10-year Treasury yield reached its lowest level since early April. Meanwhile, US oil prices continued to recover, with West Texas Intermediate crude futures up more than 2% to trade near $99 a barrel.

The Fed’s preferred inflation gauge was released on Friday morning, with the PCE index up 1% for June and a 6.8% annual increase, both numbers hotter than Econoday’s estimates. Personal income rose 0.6% in June, slightly above estimates.

The PCE Price Index is a measure of inflation in the United States, tracking the change in the prices of goods and services purchased by consumers throughout the economy.

stock market rise

The stock market’s bullish trend ignored the stagnation signal on Thursday, with the Dow Jones Industrial Average and the S&P 500 gaining 1% and 1.2%, respectively. The tech-heavy Nasdaq was up 1.1%. Small cap Russell 2000 rose 1.3%.

Thursday column big picture He commented, “Use each buy as feedback on the current strength of the market rally. Don’t panic if you miss the first couple of breakouts. If the stock market uptrend is real, there will be plenty of time to buy shares and make money. This is an important strategy because previous follow-ups failed This year the advances were cut.

If you are new to IBD, consider taking a look at stock trading system And the CAN SLIM Basics. He distinguishes chart patterns It is one key to investment guidance. IBD offers a wide range of Stock Growth ListsSuch as leaderboard And the SwingTrader.

See also  Twitter lights up Taco Bell in the second demise of Mexican pizza

Investors can also create watch lists, find companies near a profile buy pointor develop custom screens in IBD Market Smith.


Four Dow Jones stocks to watch right now


Dow Jones stocks to watch: UnitedHealth

health insurance giant IBD Leaderboard UnitedHealth stock is close to buying range above its double base buy point with a handle at 518.80 points after Thursday’s 1.3% gain, according to IBD Market Smith Graph analysis. Stocks fell on Friday.

UN stock Shows a solid value of 94 out of 99 perfect IBD compound classification, for every IBD stock check. Investors can use the IBD composite rating to easily gauge the quality of a stock’s fundamental and technical metrics.


4 growth stocks to watch on Cursstock market rally


Top stocks to watch: ELF, Quanta, Ulta, Vertex

ELF Beauty about 1% less than 33.54 points of purchase in a cup with handle After a two-day winning streak. The RS . line It hit a new high last week, which is a sign of an outperformance in the stock market. Shares of ELF fell 0.6% on Friday.

Quanta Services decisively broke out after a 138.56 buy point for a teacup base with a handle during Thursday’s 8.45% increase, according to IBD Market Smith Graph analysis. Shares are up nearly 1% on Friday.

IBD Big Cap 20 stock Ulta Beauty is building a flat base with 429.58 buying points, moving further above the 50-day line after Thursday’s 1.35% rally. The rule comes on the heels of the failed breakout to enter the cup with handle 426.93 in June. Ulta shares were down 1.5% on Friday.

See also  Inflation is rising at the fastest pace in 40 years, driven by record gas prices

IBD Leaderboard Vertex Pharmaceuticals is testing support around 279.23 handle cup buy points, as well as the 50-day line amid Thursday’s 2.15% loss. Vertex stock rose 0.3% on Friday.


Join IBD experts as they analyze the leading stocks in the current stock market rally on IBD Live


Tesla Stock

Tesla stock rose another 2.2% Thursday, adding to Wednesday’s 6.2% jump. Shares are at their highest level since early May, but are still nearly 32% off their 52-week high.

Stocks rose on Friday morning.

Dow Jones Leaders: Apple and Microsoft

within Dow Jones stockApple shares rose 0.4% on Thursday and are building a cushion above the 50-day line after the upward movement in recent weeks. Now, the stocks are trying to regain the long-term 200-day line, which is looming as a resistance level to watch. Apple shares rose more than 2% Friday morning after the company’s earnings results.

Microsoft advanced 2.85% on Thursday, up for the second day in a row. The stock closed about 21% from its 52-week high. Microsoft was trading up 0.8% in morning trading.

Make sure to follow Scott Lehtonen on Twitter at Tweet embed Learn more about developing stocks and the Dow Jones Industrial Average.

You may also like:

Top growth stocks to buy and watch

Learn how to time the market with IBD’s ETF Market Strategy

Find the best long-term investments with IBD long-term leaders

MarketSmith: Research, charts, data, and training in one place

How to Find Growth Stocks: Why IBD Simplifies Finding Top Stocks

Leave a Reply

Your email address will not be published.