Χ FTNT, Marriott International (MAR), Raymond James Financial (RJF), Merck (MRK) and Ulta Beauty (ULTA) are five must-see shows. Fortinet (FTNT), Marriott and RJF are working on handles, just around aggressive listings. The Merck stock could form a grip, while the ULTA stock broke out beyond a buy point. Among the megacaps, shares of Apple (AAPL) and Tesla are trying to rise within the limits.
Basic profits
UnitedHealth (UNH) reports before the start, starting the insurer profits. UNH’s share is expanding slightly from a market zone, along with rival Anthem (ANTM). Centene (CNC) and Molina Health (MOH) are located in market zones. Goldman Sachs (GS), Wells Fargo (WFC) and Citigroup (C) report early Thursday. All three changed little on Wednesday, after the JPMorgan Chase (JPM) reported mixed results for the first quarter. Tesla (TSLA) and ANTM shares are on the IBD Leaderboard. FTNT’s share is in IBD Long-Term Leaders. Shares of Tesla and Fortinet are at IBD 50. Raymond James Financial was the IBD stock on Wednesday and was added to SwingTrader. The video embedded in this article discusses Wednesday’s rally and analyzes the shares of Lululemon Athletica (LULU), Raymond James and MAR. Join the IBD experts as they analyze stocks that can act in the stock market rally at IBD Live
Dow Jones Futures Today
Dow Jones futures increased 0.1% against fair value. S&P 500 futures rose 0.1% and Nasdaq 100 futures rose 0.15%. Remember that overnight action on Dow futures and elsewhere does not necessarily translate into real trading at the next regular trading session.
Stock Market Rally
The stock market rally started slightly on Wednesday but improved steadily throughout the session. The Dow Jones Industrial Average rose 1% in trading on Wednesday. The S&P 500 index rose 1.1%. The Nasdaq composite jumped 2%. The small-cap Russell 2000 jumped 1.9%. Producer price index showed that wholesale inflation increased by 11.2% in March compared to the previous year, a new record. This follows Tuesday’s report which shows that consumer inflation reached a 40-year high of 8.5%. However, the yield on the 10-year bond fell for the second consecutive day, below 4 basis points to 2.69%. US crude fell 3.6% to $ 104.25 a barrel.
ETF
Among the best ETFs, the Innovator IBD 50 ETF (FFTY) rose 2.4%, while the Innovator IBD Breakout Opportunities ETF (BOUT) rose 1.4%. IShares Expanded Tech-Software Sector ETF (IGV) increased 2.2%. The VanEck Vectors Semiconductor ETF (SMH) bounced 2.4%. The SPDR S&P Metals & Mining ETF (XME) jumped 4.5% and the Global X US Infrastructure Development ETF (PAVE) rose 1.8%. The US Global Jets ETF (JETS) increased by 5.3%. Airlines and other travel stocks recovered from Delta Air Lines (DAL) results and directives. Shares of DAL and American Airlines (AAL) returned above their 200-day lines. The SPDR S&P Homebuilders ETF (XHB) rose 1.7%. The Energy Select SPDR ETF (XLE) increased 1.5% and the Financial Select SPDR ETF (XLF) remained stable. The Health Care Select Sector SPDR Fund (XLV) rose 0.5%. The share of UNH and Merck are significant XLV holdings. Reflecting the most profitable stocks, ARK Innovation ETF (ARKK) rose 3.2% and ARK Genomics ETF (ARKG) 2.6%. Tesla’s stock is the No. 1 hold on all Ark Invest ETFs. Five best Chinese stocks to watch now
Shares to be monitored
The FTNT share rose 3.3% to 340.86 points, recovering from the 21-day moving average. The cybersecurity company has a market point of 353.08. On Wednesday, stocks reached a small downtrend on the grip. Going over this would provide an early entry. The Fortinet stock has made wild moves in its consolidation, but has traded closely in recent weeks. While growth stocks have struggled, cyber security is an area that has done quite well. Palo Alto Networks (PANW) and Qualys (QLYS) break out and private equity continues to buy various players. The MAR stock jumped 7.5% to 175.54 points above average volume, returning above the 50-day line as travel shares rebounded in Delta earnings. The Marriott stock and a few other hotel games made upward trades in late March, but then fell sharply. The MAR stock now has a buy point of 179.40 mug with a handle. The shares have already broken the downward trend of the index, offering early entry. The RJF share rose 3.2% to 111.64 points, recovering from the 50-day line and breaking a downward trend in its grip, offering an early entry. Raymond James has an official buying point of 114.10 cup-with-handle, according to MarketSmith analysis. MRK shares rose 0.6% to 86.13 points, after two bearish sessions. Monday’s downtrend ended a steady uptrend in late February for the Dow Jones. Merck’s stock has a mug base with a buy point of 91.50, but seems to be working on a handle. ULTA shares rose 2.4% to 415.50 points, closing above the 408.83 cup-with-handle buy point after trying to break out in the previous two sessions. The relative strength line has risen sharply this month, reaching a 52-week high in recent sessions.
Apple, Tesla Stock
Apple shares rose 1.6% to 170.40 points, recovering from its 50 days and reaching approximately the 21-day line. The iPhone giant has a purchase point of 179.71. Undoubtedly, the AAPL stock is breaking a downward trend in this grip, but investors may want to see a little more strength. Tesla shares climbed 3.6% to 1,022.37 points, moving above the 21-day line. The shares are operating at the point of purchase of 1,152.97 mug with a handle. At 10.7% above the 50-day line, this is not an attractive early entry for the TSLA stock. High-growth stocks had a strong recovery on Wednesday, but are still struggling overall. Tesla Shanghai, meanwhile, has been closed since March 28 due to restrictions on Covid and may be on hold for several more weeks. Tesla Vs. BYD: Which Booming EV Giant is best to buy?
Market Rally Analysis
The stock market rally recovered on Wednesday, reducing weekly losses. The Dow Jones and S&P 500 have recovered their 50-day high, but are below the 200-day moving average. The Nasdaq and Russell 2000 are still below their 50-day high, although the small-cap index is approaching. Even with their 2% gains, the Nasdaq and Russell 2000 were within days against Tuesday’s range. Meanwhile, the NYSE and Nasdaq volumes fell against Tuesday, after two consecutive days of distribution. Growth stocks had a strong session, but with a few exceptions such as FTNT, Apple and Tesla stocks generally struggled with broken charts. Even more than with key indicators, emerging stocks need to show steady gains before investors get excited. The commodity sector remains strong, along with defense stocks and medical drugs such as UnitedHealth and MRK shares. Travel games are trying to regain their momentum, with the MAR stock flashing early. Market time with IBD ETF market strategy
What should we do now
When key indicators have a steady return, even if these moves do not significantly change the charts, investors will start speculating about potential gains. But a strong day in a bad or volatile market is neither surprising nor particularly encouraging. The market rally remains under pressure. Investors should have a moderate overall exposure at most, largely or entirely focused on stocks of commodities, medical products and defense. Apart from these powerful areas, there is very little power on a large scale. If you dare to go beyond these areas, keep the seats very small and definitely do not concentrate too much on these areas. Read the Big Picture every day to stay in sync with market direction and top stocks and industries. Follow Ed Carson on Twitter at @IBD_ECarson for stock market updates and more. YOU CAN ALSO LIKE: The best growth stocks for buying and monitoring IBD Digital: Unlock IBD Premium stock lists, tools and analysis today Top 3 S&P 500 winners: American Air leads Travel Revival
