Dow Jones rallies; The point of purchase of Tesla shares; Donald Trump SPAC explodes, gains 846% – .

Instant Crashes, Intel Taps Earnings; Donald Trump makes PSPC great again – .

The Dow Jones Industrial Average has recovered despite the weight of the poor Intelligence (INTC) results. VE leader Tesla (TSLA) has passed a new point of purchase. Donald Trump SPAC Acquisition of the digital world (DWAC) once again exploded in a hectic session posting a gigantic weekly gain.

A number of other stocks managed to break above buy points, despite the mixed overall action. Chip leader Nvidia (NVDA), cybersecurity game CrowdStrike (CRWD), Pool (POOL) and financial software play Working day (WDAY) all escape attempts.


Jerome Powell Reviews Weigh

Comments by Federal Reserve Chairman Jerome Powell at the Bank for International Settlements and Reserve Bank of South Africa virtual conference on Friday weighed on stocks. He said the supply constraints “are expected to last longer than expected, possibly until next year”.

“Headline inflation is way above target,” Powell said at the conference. The inflation measure that the Fed targets showed that prices have risen 4% or more in recent months, compared to last year.

Edward Moya, Oanda’s senior market analyst, the fact that the US economy needs to fill 5 million jobs before the labor market recovery returns to 2020 levels suggests that immediate rate hikes after the reduction “could be a little too aggressive”.

“The main takeaway from Powell was that the Fed is on track to start reducing and that should be done by mid-2022, transient inflation could last a bit longer than expected, and that expectations for rate hikes should be written in pencil, ”he said. in a note to customers.

Nasdaq falls as growth stocks slide

The Nasdaq was struggling amid weakness in tech stocks. It closed 0.8% lower. Intel, Free market (MELI) and Facebook were the worst laggards.

Snapshot of the US Stock Market Today

Index symbol Price Loss of profit % Changer
Dow Jones (0DJIA) 35677.68 +74.60 +0.21
S&P 500 (0S&P5) 4544,98 -4.80 -0.11
Nasdaq (0NDQC ) 15090.20 -125.50 -0,82
Russel 2000 (IWM) 227,35 -0,60 -0,26
SMALL 50 (FFTY) 49.41 -0,56 -1.12
Last Modified: 4:02 PM ET 10/22/2021

The S&P 500 was also slightly lower, although almost stable. It fell 0.1%. VF Corp. (VF) was among the laggards here, slipping 4.5%.

S&P sectors were mixed, although a majority was positive. Energy and financials posted the best gains, while communications, consumer discretionary and technology lagged behind.

Small caps were struggling, despite the strength of financials. The Russell 2000 closed 0.3% lower.

However, growth stocks suffered the most, with the Innovator IBD 50 ETF (FFTY) ending with a loss of 1.1%.

Dow Jones fights after shock to Intel results

The Dow Jones Industrial Average has managed to break out of negative territory. It closed the day up 0.2%, or around 75 points.

He managed to fight despite the disappointing results of Intel. The stock deepened and fell below a six-month consolidation low following its last report. He ended the day with an 11.7% loss.

As the chip giant crushed third quarter results, adjusted revenue was lower on some metrics, including data center chips. Another big factor has been the lightness of the earnings forecast for the fourth quarter, which comes as operating expenses increase. The company’s chief financial officer, George Davis, is also stepping down.

American Express (AXP) was the big winner on the Dow Jones today, up 5.4%.

Trump’s SPAC frenzy continues

A publicly traded acquisition company linked to former President Trump continued to soar following news of its intention to launch a social media company. It closed with a weekly gain of 846%.

Digital World Acquisition is capitalizing on news that it will be the vehicle to bring the Trump Media & Technology Group to the stock market via a merger.

DWAC stock exploded to the 175 level, a gain of almost 300% from Thursday’s closing price, and the stock was even halted due to a circuit breaker. He closed with a gain for the day of 107%, which remains a huge single-day gain for a title.

Action surged on news that Trump Media & Technology Group is considering launching a social media site named Truth Social.

There will also be a subscription video-on-demand service called TMTG +. Trump said the latter service “will feature ‘unawakened entertainment’, news, podcasts and more.”

Trump has seen his access to major social media networks such as Twitter severely curtailed since the January 6 riot on Capitol Hill.

Tesla Stock passes a new point of purchase

Tesla stock managed to break through a new buy point of 900.50 from a deep cup base, according to MarketSmith analysis. This comes after providing investors with a plethora of early entry points during consolidation.

Tesla stock finished up nearly 2% for the day and a weekly gain of just under 8%.

The stock rose after another record quarter for the company, which saw it beat earnings expectations.

Tesla stock is a member of the prestigious IBD Leaderboard list.

Among other related actions, General Motors (GM) fell almost 1%, Ford (F) fell just over 1% and the Chinese game EV Nio (NIO) lost almost 3%.

Instant profits reach these actions

Break (SNAP) collapsed and crashed almost 27% in high volume. He managed to dive below his 200 day line for the first time in over a year.

The mobile application operator beat third quarter results Thursday night. He also missed earnings views, though the main concern was that the company missed the fourth quarter earnings outlook.

He warned of slowing growth due to recent changes to Apple’s iOS privacy policy. These make it more difficult to collect information from users and target advertisements.

Alphabet (GOOGL) was hit as it is a significant player in the online advertising space, falling by around 3%. It continues to form a flat base.

Facebook (FB) finished down 5% while Twitter (TWTR) fell almost 5%.

Nvidia Stock Leads Names Passing Entries

A handful of noteworthy actions attempted to demonstrate strength by going past the entries.

Nvidia managed to move its nose above a base cup buy point of 230.53, but closed below the entry. It comes after the token game showed courage in rallying above its 50 day line.

Nvidia has excellent overall performance. It seeks to manufacture server processor chips based on ARM technology, which so far places it in the most direct competition with Intel.

CrowdStrike also retreated after attempting to break out of a 289.34 cup base buy point. Cybersecurity action has seen a tear in recent times, increasing by around 14% in the past four weeks alone.

The pool is in a buy zone after going over a base cup entry of 500.95. The long-term leader has seen his relative strength line reach a new high, which is a bullish sign.

Meanwhile, Workday moved above a buy point of 282.87, but finished the session below the entry. Profits are clearly the strength of this action, with a decent RS rating of 77 out of 99.

Please follow Michael Larkin on Twitter at @IBD_MLarkin to learn more about growth stocks and analysis.


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