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The Dow Jones Industrial Average briefly fell 90 points on Friday, but rose, as U.S. job growth slowed in September. Tesla stock has slipped in morning trading.
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Among the leaders of the Dow Jones, Apple (AAPL) rose 0.1% on Friday, while Microsoft (MSFT) rose 0.3% in today’s stock market. American Express (AXP) and Merck (MRK) are close to new points of purchase on Friday.
You’re here (TSLA) fell more than 1% on Friday morning, but remains just above its last buy point.
Among the best stocks to watch out for, Advanced micro-systems (AMD), Netflix (NFLX) and Palo Alto Networks (PANW) are in or near new buying areas, although the market, for now, remains in a correction.
Advanced Micro Devices, Microsoft and Tesla are stocks in the IBD ranking. Palo Alto Networks is an IBD SwingTrader share. Netflix was featured in this week’s Stocks Near A Buy Zone column.
Dow Jones Today: September Jobs Report
Early Friday, the Dow Jones Industrial Average edged up 0.1%, while the S&P 500 rose 0.1%. The tech-rich Nasdaq composite fell 0.2% at midday.
Snapshot of the US Stock Market Today |
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|---|---|---|---|---|
| Index | symbol | Price | Loss of profit | % Switch |
| Dow jones | (0DJIA) | 34789.16 | +34.22 | +0.10 |
| S&P 500 | (0S & P5) | 4402.96 | +3.20 | +0.07 |
| Nasdaq | (0NDQC) | 14633.71 | -20.31 | -0.14 |
| Russel 2000 | (IWM) | 223.52 | +0.26 | +0.12 |
| MICI 50 | (FFTY) | 47.14 | -0.21 | -0.44 |
Last updated: 10:52 AM ET 10/8/2021 |
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Before the market opened on Friday, the Labor Department said the US economy created just 194,000 jobs in September, largely missing Econoday’s consensus estimates for growth of 475,000 jobs. Still, the unemployment rate fell to 4.8%.
Among exchange-traded funds, Innovator IBD 50 (FFTY) rose 0.2%. The Invesco QQQ Trust (QQQ) Nasdaq 100 tracker rose by a fraction. And the SPDR S&P 500 ETF (SPY) rose 0.1%.
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Attempted stock market rally
The Nasdaq and S&P 500 continue to rebound from Monday’s corrective lows. On Monday, the Nasdaq closed at its lowest level since June 22, but has since recovered. Meanwhile, the Dow Jones Industrial Average is testing its key 50-day line.
On Thursday, The Big Picture commented, “The Nasdaq and S&P 500 may soon test their 50-day moving averages as they continue to rebound from Monday’s corrective lows. Meanwhile, the Dow is already on the move. to test, but unable to claim, its own 50 This is a possible sign of resistance, and the way the indices reduced gains also detracted from an otherwise bullish session. “
Five best Dow Jones stocks to watch right now
Dow Jones Stocks to Watch: American Express, Merck
Dow Jones Leaders American Express and Merck are blue chip stocks to watch in today’s stock market.
American Express is approaching a buy point of 178.90 in a handle mug, according to IBD MarketSmith chart analysis. Shares rose more than 1% on Friday morning and are around 2% of the new entry.
Merck threatened to give up part of Thursday’s 1.6% gain, falling nearly 1% on Friday. Last week, Merck said its Covid pill halved the risk of hospitalization in an end-stage study, triggering an 8.4% increase and a breakout exceeding a purchase point of 79.33 in a base flat.
One potential default is the stock’s low 75 IBD composite rating.
Join the IBD experts as they analyze the major stocks in the market correction on IBD Live
Stocks to watch: AMD, Netflix, Palo Alto
IBD Leaderboard Advanced Micro Devices stock threatened to fall after Thursday’s 2.7% rally, falling 0.5% on Friday. Stocks are trying to regain their 50 day line. In the rankings, exposure to AMD was increased after the stock broke a trendline entry. AMD also forms a cup-like base.
According to IBD Stock Checkup, AMD stock enjoys a Perfect IBD Composite Rating of 99. The IBD Composite Rating identifies stocks with a mix of strong fundamental and technical characteristics.
FANG stock leader Netflix traded just above new highs on Friday morning following Thursday’s 1.1% drop. Stocks rose 1% at the start of trading. NFLX stock is outside the 5% buy zone after an entry point of 593.39 in a consolidation amid the recent worldwide success of its “Squid Game” series.
IBD SwingTrader Palo Alto Networks stock attempts to erase an entry of 496.02 in a short consolidation. Stocks rose 0.6% and are just above the new buy trigger. On the upside, the title’s relative strength line hit a new high on Thursday, reaffirming the title’s leadership status.
Tesla shares
Tesla stock slipped more than 1% on Friday morning, falling after Thursday’s 1.4% gain and threatening to end a two-day winning streak. TSLA stocks are still above a buy point of 764.55 in a handle cup. The stock closed on Thursday about 12% below its all-time high.
CEO Elon Musk said Thursday that Tesla will move its headquarters from Palo Alto, Calif., To Austin, Texas. He also commented on supply shortages and updates to the company’s autonomous driving software.
Dow Jones Executives: Apple, Microsoft
Among the major stocks in the Dow Jones, Apple rose 0.3% on Friday morning, in a good way to extend a four-session winning streak. The stock is still well below the 50 day line.
Software giant Microsoft was up 0.5% as the stock tries to break above its 50-day line. A decisive recovery of this level would be bullish for the prospects of the title. Meanwhile, a new flat base is forming with a buy point of 305.94.
Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen to learn more about growth stocks and the Dow Jones Industrial Average.
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