Χ Simply Good Foods (SMPL) announced its quarterly earnings results ahead of Wednesday’s open. Shares of Simply Good fell 1% in morning trading. Among the leaders of the Dow Jones, Microsoft (MSFT) and Salesforce.com (CRM) led the first drops, with a drop of about 1.5% each. Apple (AAPL) slipped more than 1% in the current stock market. Chevron (CVX) was the industry leader, rising 1% as oil prices soared. Electric vehicle giant Tesla (TSLA) fell almost 2% early Wednesday, at a pace to increase Tuesday’s sharp losses. As the stock market rises, the Dow Jones financial leader American Express (AXP) – along with Alphabet (GOOGL), Broadcom (AVGO), the IBD Leaderboard Darling Ingredients (DAR), Regeneron – Pharmaceuticals (REGN) and Shell (SHEL). ) – are the top shares of Wednesday for buying and monitoring. Arista, Microsoft and Tesla are IBD Leaderboard shares. Darling Ingredients and the Tesla stock appeared in the Shares column near this week’s buy zone.
Dow Jones Today: Bond yields, oil prices, Fed minutes
After opening on Wednesday, the Dow Jones Industrial Average lost 0.85% and the S&P 500 fell 1.2%. Nasdaq heavy technology sold 2% in morning trading. Among the traded funds, the Nasdaq 100 tracker Invesco QQQ Trust (QQQ) lost 1.3%, and the SPDR S&P 500 ETF (SPY) fell 1% after opening on Wednesday. On Tuesday, the yield on the 10-year US bond jumped to 2.55%, reaching a new high of 52 weeks. Federal Reserve Governor Lael Brainard, widely regarded as one of the Fed’s most generous members, has said he expects a sharp decline in the Fed’s inflated balance sheet from May. The 10-year yield continued higher on Wednesday morning, reaching 2.64%, its highest level since March 2019. Meanwhile, US oil prices gained more than 1% on Wednesday morning with crude West Texas Intermediate to once again move above $ 103 a barrel. The minutes from the Fed’s policy meeting in March are expected at 2 p.m. ET Wednesday. On March 16, the Federal Reserve raised its key interest rate for the first time since 2018. Policymakers revealed their expectation of a total of seven quarterly interest rate hikes this year and at least three more in 2023. The head of the Fed, Jerome Powell, said in the press conference after the meeting that the minutes will present the parameters of the tightening of the Fed balance sheet, the release of $ 4.5 trillion in asset purchases during the pandemic.
Stock Market Rally
On Tuesday, the stock market performed a disappointing performance, as the Nasdaq composite sold 2.3%. The Big Picture column commented: “The stock with the signal ended steadily on Red Tuesday as Wall Street received another reminder that the Federal Reserve intends to aggressively fight inflation by raising interest rates and lowering the balance sheet.” If you are new to IBD, consider taking a look at the stock trading system and the basics of CAN SLIM. Recognizing chart patterns is a key to investing guidelines. IBD offers a wide range of emerging stock listings, such as Leaderboard and SwingTrader. Investors can also create watch lists, find companies approaching a market point, or develop custom screens at IBD MarketSmith. Four Dow Jones shares to watch now
Dow Jones shares for buying and monitoring: American Express
The Dow Jones financial stock, American Express, tracks a cup with a handle with a buying point of 194.45. Shares fell 1.2% on Tuesday, closing just above the 50-day moving average line. Shares of AXP fell 0.3% on Wednesday morning. Watch the relevant power line of the stock. In the midst of its recent rise, the RS line is approaching its old highs, but there is enough work for it in view of a possible outbreak. The RS line measures the price performance of a stock against the S&P 500. The RS line should reach a new high on the day of the outbreak or a little later to confirm the strength of the stock outbreak. Top 4 growth stocks to buy and watch the current stock market rally
Shares to buy and follow: Alphabet, Broadcom, Darling, Regeneron, Shell
Tuesday’s selection of IBD 50 Stocks To Watch, Alphabet, is approaching the 2,875.97 buy point in a cup with a handle, according to IBD MarketSmith chart analysis. GOOGL shares are just 1% away from entering amid a loss of 1.2% on Tuesday. The FANG share fell 1.5% on Wednesday morning. Broadcom fell 3.3% on Tuesday as the chip stock continued to hold above an early entry of 614.74. The shares marked a new buying point, a trading entry at 645.41. ABGO shares fell 1.5% on Wednesday morning. The IBD Leaderboard Darling Ingredients stock closed below the 80.31 cup with a handle on Tuesday. Shares fell 2.5% on Wednesday morning. Biotechnology leader Regeneron Pharmaceuticals remains in the market with more than 673.96 flat-base entries in the wake of a March 16 move. REGN shares traded higher on March 23 before regaining ground on March 24. The 5% market zone exceeds 707.66. The stock was stable on Wednesday. Oil and gas company and IBD Stock Of The Day on Friday, Shell, is an impressive distance from the 56.23 buy point of a flat base despite falling 1.6% on Tuesday. Shares jumped 1% on Wednesday morning. Join IBD experts as they analyze top stocks in the current IBD Live stock rally
Tesla stock
Tesla shares fell more than 2% early Wednesday, threatening to rise 4.7% on Tuesday. The shares of the EV giant are approaching the buy point of 1,208.10 of a cup base and are about 10% away from the most recent entry. Meanwhile, Tuesday’s weakness could be the beginning of a proper grip that would provide an entry risk-optimal. The stock traded up to 1,243.49 points on November 4 and closed about 12% on Tuesday away from this all-time high.
Dow Jones leaders: Apple, Microsoft
Among Dow Jones shares, Apple shares fell 1.9% on Tuesday, falling again below the buy point of 176.75 two bottoms. The 5% market area rises to 185.59. AAPL shares fell more than 1% early Wednesday. Microsoft, the software leader, fell 1.3% on Tuesday as shares continued to build the right side of a new base formation. Shares of Microsoft traded 1.5% lower on Wednesday morning. Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones industrial average. YOU CAN ALSO LIKE: Top growth stocks for buying and monitoring Learn how to time the market with IBD’s ETF buying strategy Find the best long-term investments with IBD long-term leaders MarketSmith: Research, charts, data and guidance All in one place How to research growth stocks: Why this IBD tool simplifies your search for top% stocks
