[ad_1]
The Dow Jones Industrial Average reversed after briefly rallying over 100 points as Bitcoin hit all-time highs on Thursday. Tesla stock appeared to bounce back from Wednesday’s sell-off as a key level of support looms. Bumble’s IPO is expected to skyrocket in its debut Thursday, while Disney profits are expected to come out after the close.
X
Among the leaders of the Dow Jones, Apple (AAPL) fell 0.1%, while Microsoft (MSFT) gained 0.4% in today’s stock market. Nike (NKE) is approaching a new buy point after last week’s bullish movement. Disney (DIS) is in the buy range after Monday’s breakout ahead of the company’s post-close results.
You’re here (TSLA) sought to rebound from Wednesday’s 5.3% slippage, rallying around 1% in morning trading. Tesla stock can be set for a test of its 10 week support level. The Bumble (BMBL) IPO will start trading on Thursday after the price late Wednesday.
Palo Alto Networks (PANW) and Nvidia (NVDA) are among the top stocks in or near buy zones in Thursday’s stock action.
Apple, Microsoft and Tesla are stocks in the IBD rankings. Nvidia was the IBD title of the day, while Palo Alto Networks was Tuesday’s IBD 50 Stocks To Watch pick. Meanwhile, Nike was featured this week in Stocks Near A Buy Zone.
Dow Jones today
On Thursday, the Dow Jones Industrial Average fell 0.1%, while the S&P 500 was up 0.1%. The high tech Nasdaq composite rose 0.3% in midday trading.
Snapshot of the US Stock Market Today |
||||
|---|---|---|---|---|
| Index | symbol | Price | Loss of profit | % Change |
| Dow Jones | (0DJIA) | 31476.63 | +38.83 | +0.12 |
| S&P 500 | (0S and P5) | 3916.10 | +6.22 | +0.16 |
| Nasdaq | (0NDQC) | 14016.72 | +44.18 | +0.32 |
| Russell 2000 | (Etc.) | 228.20 | +1.32 | +0.58 |
| IBD 50 | (FFTY) | 48.52 | +0.43 | +0.89 |
Last Updated: 10:36 AM ET 2/11/2021 |
||||
Among exchange-traded funds, the Innovator IBD 50 (FFTY) was up 0.8% on Thursday. The Nasdaq 100 tracker Invesco QQQ Trust ETF (QQQ) rose 0.3%. Meanwhile, the SPDR S&P 500 ETF (SPY) added 0.2%.
Is the stock market rally overheating?
Looking back on the current uptrend, November was a key month for the stock market. IBD’s The Big Picture reported the new uptrend after the market’s bullish tracking day on November 4th. Meanwhile, in early February, the Dow Jones Industrial Average, the Nasdaq and the S&P 500 hit record highs. But is the stock market rally overheating?
Wednesday’s Big Picture commented: “It looked like Wednesday would be a tough day for the stock market after a surge in sales of minted securities in the morning. But the Nasdaq composite was able to trim a loss of 1.2% close to 0.3% by the close. “
With recent strength, investors may return to an offensive stance, knowing that there are still good reasons for caution. Look for stocks that exceed new points of purchase, like Disney, Nvidia, and Palo Alto Networks.
Focus on stocks that have shown strong relative strength during recent weakness. They could be among the market leaders if the indices are able to build on their all-time high.
ETF stock market strategy and how to invest
Bitcoin price
The price of Bitcoin jumped over 7% to record highs on Thursday morning. Bitcoin hit $ 48,297 before reducing gains to around $ 47,900 in morning trading, according to Coindesk.
The Grayscale Bitcoin Trust (GBTC) jumped 8% and is approaching a new high.
Dow Jones Stocks: Nike
In the Dow Jones Industrial Average, Nike is charting a new flat base with a buy point of 148.05. The title rose 0.6% Thursday morning and is only 4% off the new entry.
Nike shares have returned to their 50-day moving average line bullish in recent sessions.
Stock market benefits: Uber, Yeti
Uber stock cut losses to just 0.1% early Thursday following the company’s mixed fourth-quarter results, falling short of revenue targets. The company reduced its loss to 54 cents a share on sales of $ 3.2 billion.
Stocks hit a new high on Wednesday, but are now falling from that level.
Yeti reported strong fourth-quarter results on Thursday, as consumers continue to travel outdoors for entertainment during the pandemic. Yeti profits jumped 52% to 74 cents a share, with sales increasing 26% to $ 352.53 million.
The stock slipped more than 8% in morning trading, testing its 50-day line.
Bumble IPO set to Skyrocket
Bumble’s IPO raised $ 2.15 billion on Wednesday, priced at 43 per share. The shares will start trading on Thursday under the symbol BMBL. Bumble is expected to skyrocket 72%, according to preliminary trade data. The shares were listed at 74 a share, up 72% from the IPO price of 43.
Remember to wait for an IPO base to form before purchasing a new IPO stock.
Dow Jones Income: Disney
Dow Jones Disney stock broke on Monday and is in the buy range beyond a buy point of 183.50 on a flat basis, according to IBD MarketSmith’s chart analysis. The 5% buying area goes to 192.68. Disney stock rose slightly on Thursday and is around 3% above entry.
Disney will report its income after closing. Analysts expect the media giant to lose 34 cents a share on revenue of $ 15.9 billion.
Stocks to watch: Palo Alto, Nvidia
Tuesday’s IBD 50 stock pick to watch, Palo Alto Networks, is in a buy range above 375.10 buying points on a flat basis. Shares slipped 0.2% Thursday morning and are almost extended.
IBD 50 stock is expected to report second quarter FY2021 earnings after market close on February 22.
According to IBD Stock Checkup, Palo Alto’s stock is posting a 96 out of 99 composite IBD rating. Composite rating – an easy way to identify top growth stocks – is a mix of key fundamental and technical metrics to help investors assess a stock’s strengths.
IBD Leaderboard Nvidia stock is in the buy range beyond a buy point of 587.76 on a flat basis amid a 2% rise on Thursday. On February 8, shares broke above an early entry at 560.07.
According to the leaderboard commentary, “Nvidia pulled off an alternate entry from its January highs. The title continues to operate on a flat base. Nvidia was reduced to a quarter position on January 27 and raised to a half position on Monday. . “
IBD Live: a new tool for daily stock market analysis
Tesla stock
Tesla stock appeared to rebound from Wednesday’s steep loss, advancing nearly 1% on Thursday. Stocks may be heading for a test of their 10 week line, a key inflection point.
The IBD Stock Of The Day column for January 8 reported that Tesla was showing several signs of a peaking peak amidst a sharply vertical run in recent weeks. Until Wednesday, the title had shown strong resilience.
On January 25, Tesla stock hit a record 900.40, climbing to 93% from 466 buying points in a handle mug.
Dow Jones Executives: Apple, Microsoft
Among the major stocks in the Dow Jones, Apple fell 0.1% on Thursday, and remains below its 138.89 buy point in a cup with a handle. The shares abandoned entry on Jan.28.
Meanwhile, Microsoft rallied 0.4% Thursday morning and is just shy of record highs. Shares of the software giant have passed a buy point of 232.96 in recent sessions. The stock is at the top of the 5% buy zone rising to 244.61.
Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen to learn more about growth stocks and the Dow Jones Industrial Average.
YOU MAY ALSO LIKE:
Top growth stocks to buy and watch
Learn how to synchronize the market with IBD’s ETF market strategy
Find the best long-term investments with IBD’s long-term leaders
MarketSmith: research, charts, data and coaching in one place
How to search for growth stocks: why this IBD tool makes it easier to find top stocks
[ad_2]
Source link