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The Dow Jones Industrial Average briefly rose 150 points on Friday, as the US economy added 943,000 jobs in July. Tesla stock slipped in midday trading but remains above an aggressive entry, while HOOD stock jumped 19% in morning trading before slashing gains.
X
Among the leaders of the Dow Jones, Apple (AAPL) lost 0.6% on Friday, while Microsoft (MSFT) was down 0.4% in today’s stock market. Home deposit (HD) is trying to delete a new point of purchase.
You’re here (TSLA) sought to end a seven-day winning streak, dropping nearly 2% on Friday at noon. Robin Hood (HOOD) rebounded from Thursday’s plunge, jumping up 19% in morning trading.
Among the best stocks to buy and watch, Free market (MELI), Square (SQ) and Twitter (TWTR) can be found in or near shopping areas.
MercadoLibre, Microsoft and Tesla are stocks in the IBD ranking. Square is an IBD SwingTrader share and was the IBD share of the day for Monday.
Dow Jones Today: Jobs Report
The Dow Jones Industrial Average rose 0.45% on Friday, while the S&P 500 traded up 0.2%. The tech-rich Nasdaq composite lost 0.45% at midday.
Snapshot of the US Stock Market Today |
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|---|---|---|---|---|
| Index | symbol | Price | Loss of profit | % Change |
| Dow jones | (0DJIA) | 35187.37 | +123.12 | +0.35 |
| S&P 500 | (0S & P5) | 4434.68 | +5.58 | +0.13 |
| Nasdaq | (0NDQC) | 14840.49 | -54.63 | -0.37 |
| Russel 2000 | (IWM) | 222.38 | +0.35 | +0.16 |
| MICI 50 | (FFTY) | 46.17 | -0.44 | -0.94 |
Last updated: 10:46 AM ET 6/8/2021 |
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Early Friday, the Labor Department said the U.S. economy had created 943,000 jobs and the unemployment rate fell to 5.4% in July, a sign of a strengthening labor market before the threat of the variant. Delta. The surveys for the Jobs report do not fully reflect the potential impact of the Delta variant, as they were conducted in the middle of the month.
Among exchange-traded funds, the Innovator IBD 50 (FFTY) traded down 1.1% on Friday. The Nasdaq 100 tracker Invesco QQQ Trust ETF (QQQ) fell 0.4%. Meanwhile, the SPDR S&P 500 ETF (SPY) rose 0.2%.
Stock exchange rally
The S&P 500 hit other records on Friday morning, while the Nasdaq fell from Thursday’s record. Dow Jones Industrials hit all-time highs in morning trading on Friday.
Thursday’s Big Picture column commented, “Summer is often synonymous with a downturn in the stock market. And despite a stack of distribution days in the S&P 500, the market is trying to break out of a two-week horizontal pattern. At least in the short term, investors can use certain indicators to assess their exposure to the stock market. One is the 21-day exponential moving average. As long as the Nasdaq, S&P 500, and Dow can hold above that line, consider it positive.
For more stock market commentary, check out The Big Picture from IBD.
Stock ETF strategy and how to invest
Dow Jones Stocks to Buy and Watch: Home Depot
Dow Jones leader Home Depot is trying to break a cup with the handle’s 333.55 buy point, according to IBD MarketSmith’s chart analysis. The 5% buy zone goes up to 350.23.
Shares fell 0.5% on Friday at noon.
Stocks to buy and watch: MercadoLibre, Square, Twitter
IBD stock MercadoLibre is trading just above a buy point of 1,755.05 after Thursday’s nearly 14% rise. Stocks plunged 0.5% on Friday. According to rank analysis, the first 5 minutes of trading in the stock peaked at 1,755.05, and MELI is trading reasonably above that price. A trendline within the base can also offer another early entry point.
The stock also builds the right side of a cup base, according to IBD MarketSmith’s chart analysis. Another possible entry is looming in 2020.10. And be on the lookout for a potential handful to provide a more optimal point of purchase for risk.
The IBD SwingTrader stock and the IBD action of Monday, Square, are back in the buy range beyond a buy point of 267.87 in a cup base with handle in the middle of Friday’s 1.4% loss. The 5% buy area rises to 281.26.
According to the IBD Stock Checkup, the SQ stock has an IBD Composite Rating of 97 out of 99. The IBD Composite Rating identifies stocks with a mix of strong fundamental and technical characteristics.
Social media giant Twitter is approaching the buy point of 73.44 double bottom with handle. Shares are about 5% below the entry after Friday’s nearly 2% loss.
Robinhood Stock
Robinhood stock appeared to rebound after Thursday’s 27% drop, hitting as high as 19% on Friday morning. Stocks slashed gains to 4.5% at noon. HOOD stock plunged Thursday after the company said it would sell around 97 million shares on behalf of existing investors.
Keep in mind that new issues are particularly volatile. Investors should wait for the formation of an IPO base, offering the first point to buy the stock. HOOD stock does not have an appropriate buy point at this time.
Tesla shares
Tesla stock reversed nearly 2% on Friday, seeking to end a seven-day winning streak. The electric vehicle giant is rebounding from support around its 50 and 200-day moving averages. Another strong show of support at these levels was bullish for the stock’s outlook.
Stocks are attempting to hold above an aggressive buy point of 700.10 deep in a correction. Meanwhile, a wide and deep base continues to take shape.
On January 25, Tesla stock hit an all-time high at 900.40, after climbing 93% from a buy point of 466 in a handle mug.
Dow Jones Executives: Apple, Microsoft
Among the main stocks in the Dow Jones, Apple lost 0.6% on Friday. Stock hit an all-time high on July 15 at 150. Apple stock remains outside the 5% buy zone from an entry of 137.17 in a cup base. On a weekly chart, the analysis of the IBD MarketSmith chart also places a buy point at 145.19, which would put Apple in a buy range up to 152.45.
Software giant Microsoft fell 0.4% on Friday morning, seeking to cede part of Thursday’s 1.05% gain. Microsoft continues to trade solidly above the buy point of 263.29 cups. The stock is extended above the 5% buy zone, which climbs to 276.45.
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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