Among the leaders of the Dow Jones, Apple (AAPL) traded down more than 3% early Thursday, while Microsoft (MSFT) edged down 0.2% in today’s stock market. Nike (NKE) added 0.3%, still below a buy point after Wednesday’s loss.
Head of electric vehicle Tesla (TSLA) fell 0.5% on Thursday. Pair EV Rivien (RIVN) fell about 1%, while Lucid group (LCID) fell 1%. Chinese leaders in electric vehicles Li Auto (LI) et Xpeng Engines (XPEV) were each up around 2% after Thursday’s opening.
Among the best stocks to buy and watch, Li Auto, NXP Semiconductors (NXPI), Pfizer (PFE) and Zim Integrated Shipping (ZIM) are located in or near new shopping areas. The deterioration in stock market conditions means that the environment is not conducive to new purchases.
Microsoft and Tesla are stocks in the IBD rankings. NXP is an IBD SwingTrader share. Apple and Li Auto were featured in this week’s Stocks Near A Buy Zone article.
Dow Jones today: claims for unemployment benefits
After the market opened on Thursday, the Dow Jones Industrial Average climbed 0.6% – backed by Boeing‘s (BA) big jump. The S&P 500 rose 0.1%, while the high-tech Nasdaq composite lost 0.3% in morning trading.
Among exchange-traded funds, the Nasdaq 100 tracker Invesco QQQ Trust (QQQ) fell 0.2% on Thursday, while the SPDR S&P 500 ETF (SPY) rose 0.3%. Elsewhere, the 10-year Treasury yield fell to around 1.41%.
The Labor Department said weekly jobless claims rose from 199,000 last week to 222,000. The number was better than Econoday’s estimate for initial jobless claims of 245,000.
Stock ETF strategy and how to invest
Stock market decline
The market sell-off worsened on Wednesday as investors reacted to the identification of the first case of the omicron coronavirus variant in the United States. The main stock market indices fell sharply for a second consecutive session. The Dow Jones Industrial Average closed below its 200-day long-term moving average. The S&P 500 has given up on its key 50-day line. And the Nasdaq closed just at its own 50-day line.
After the session, The Big Picture commented, “The Nasdaq got out of the blocks, but the gains melted as the session went on. for the day, which means that the composite index did not add another distribution day. “
The stock outlook was lowered to “bullish under pressure” on Tuesday, so it’s an important time to read The Big Picture from IBD.
Five Best Dow Jones Stocks To Watch Right Now
Dow Jones stocks to watch: Apple, Boeing, Nike
Apple shares fell about 3% on Thursday morning after Blomberg announced that Apple warned its component suppliers that demand for the iPhone 13 line had weakened. Apple shares hit new highs on Wednesday before falling 0.3%.
At the end of Wednesday’s session, Apple shares were extended above a buy point of 153.27 on a cup-and-handle basis, according to IBD MarketSmith’s chart analysis. Thursday’s pre-market action suggests the stock could potentially reopen into the 5% buy zone, which tops out at 160.93.
Aerospace giant Boeing jumped nearly 4% on Thursday. The Chinese aviation authority has issued an airworthiness directive preparing the Boeing 737 Max for return to service in China, according to Reuters. Boeing shares closed more than 30% off their 52-week high on Wednesday.
Retail leader Nike is trying to bounce back, after falling even further below the 174.48 buy point from its cup base in two straight days of losses. Shares rose 0.3% on Thursday.
Bénéfices boursiers : CrowdStrike, Five Below, Snowflake
Cyber security leader CrowdStrike climbed nearly 5% Thursday morning after posting strong third-quarter earnings and selling results. Shares closed over 30% of their 52-week high on Wednesday.
Discount retailer Five Below posted third quarter results that far exceeded expectations and delivered strong guidance for the full year. The stock decline only gained 1% on Thursday as it tries to regain its key 50-day benchmark. A mug base with handle with a purchase point 221.10 is also formed.
Snowflake reported a smaller-than-expected loss for the third quarter, as revenue exceeded previous estimates. SNOW shares jumped 10% on Thursday, as they try to recover from Wednesday’s 8.6% drop.
Stocks to buy and watch: Li Auto, NXP, Pfizer, Zim
Li Auto finished just above the buy point of 34.93 on a cup base with handle on Wednesday amid a spray breakout move. Shares rose Wednesday morning after strong delivery figures, but closed with a loss of 1%. Li Auto shares rose about 2% on Thursday.
Chip leader and new stock IBD SwingTrader NXP Semiconductors is attempting to break above a 227.60 buy point in a handle-cup base, but closed below the buy point amid Wednesday’s sharp reversal. Shares lost more than 1% on Thursday.
Drug giant Pfizer is just outside the buying range beyond a buy point of 51.96 in a cup base after Wednesday’s 1.75% rise. The 5% buy zone peaked at 54.56. Shares rose 0.1% on Thursday.
The recent initial public offering Zim Integrated, a leader in IPO, continues to build a base of cup with handle with a buy point of 60.19, according to graphical analysis by IBD MarketSmith, despite a streak two days of consecutive defeats. The shares are about 11% off the last entry. ZIM stock rose about 1% on Thursday.
Join the IBD experts as they analyze the major stocks in the current bullish stock market trend on IBD Live
Electric vehicle stocks: Xpeng, Lucid Motors, Rivian
Xpeng Motors remains stretched slightly past its buy point of 48.08 in a choppy cup base after Wednesday’s 7% skid. XPEV shares rose more than 3% on Thursday.
Lucid Motors shares threatened to extend a two-day decline, falling just over 1% on Thursday. LCID stock remains well expanded beyond a buy point of 28.49 in a mug base with handle.
The hot Rivian IPO was down more than 1%, adding to Wednesday’s 3.4% decline.
RIVN shares closed at around 36% of their post-IPO highs on Wednesday. The downside is positive potential for investors who remain disciplined and wait for an IPO foundation to form before considering a buy. The recent weakness is the start of Rivian’s first basic training.
Tesla stock fell 0.5% on Thursday, adding to Wednesday’s 4.35% drop. The shares traded as high as 1,243.49 on November 4, but the stock closed on Wednesday around 12% of its 52 week high.
TSLA stocks remain well above a buy point of 764.55 in a handle cup, as well as earlier entries at 700.10 and 730. The chart also showed an alternate entry at 900.50. Tesla shares are likely forming a new base, but there is no new point of purchase yet.
Dow Jones Executives: Microsoft
Among Dow Jones stocks, software giant Microsoft fell 0.2% on Thursday, in a bid to extend a two-day losing streak. Positively, the stock’s RS line is reaching new highs, indicating strong stock market outperformance during this week’s market weakness.
On October 18, Microsoft stock broke a flat base buy point of 305.94. The 5% buy area peaked at 321.24, so the title is expanded.
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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