Dow Jones futures rose modestly on Wednesday night, along with S&P 500 futures and Nasdaq futures. Wednesday was the second split session in an attempt to boost the stock market.
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Down Jones reached a record high as Biden’s stimulus bill cleared Congress. Meanwhile, despite Treasury yields falling in the second straight session, the Nasdaq closed at a fractionally lower than expected.
The names of the Dow Jones and the real economy are evolving, while the stock market is both significantly improving and improving with the tech-led Nasdaq decline. Can the stock market have a split stand for an extended period?
Speaking of real economy names, the Dow Jones is huge Boeing (BA) cleared the buy point on Wednesday. DR Horton (DII) and Flagstar Bancorp (FBC) Treasury yields are in the buy zone with a retreat. CF Industries (CF) is also available.
Meanwhile, Game Stop (GME) and other short-squeeze plays continued their wild ride while the price of Bitcoin is closing at a record high. Roblox (RBLX) got off to a great start.
Oracle (ORCL) reported earnings after the recent dating site closed with an IPO Outbursts (BMBL) and Claudira (CLDR). JD.com (JD) is to be held as early as Thursday.
Oracle’s earnings are in the top view while revenue has increased %%, adding Rs 20 billion to the software giant. Oracle stock fell 5% overnight, signaling a return to buying territory from a breakout in early March. Bumple reported strong revenue and user growth and solid outlook. Bumple stock rose strong overnight but declined sharply after trading the second day. Clou Dera stock sank on a weak full year guide.
JD.com stock is moderately stuck below its 50-day line before making earnings.
CF Stock is part of IBD Leaderboard and SwingTrader. CF Industries was the IBD stock of the day on Wednesday. Flagstar also had the latest stock The F The Day Selection.
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Biden passes the stimulus bill
The House briefly approved the 1. 1.9 trillion Biden stimulus bill. The inspiration bill now goes to the White House, with President B Biden planning to sign it on Friday. The stimulus bill includes a ના 1,400 check for many Americans, extended employment benefits and assistance to schools and state and local governments. It also includes significant increases in spending on anti-poverty programs, Obamacare and private pension bailouts. It pays for coronavirus vaccination and testing.
In the wake of the Biden Stimulus Bill – weeks after the second coronavirus aid package – congressional Democrats are preparing a larger spending package that will focus on infrastructure later this year. The law will largely include a tax increase.
Dow Jones futures today
Dow Jones futures rose 0.35% to a fair value. S&P 500 futures rose 0.5%. Nasdaq 100 futures rose 0.7%.
The 10-year Treasury yield has risen to 1.53%.
Remember that overnight action in Dow futures and elsewhere does not necessarily translate into real trading in the next regular stock market session.
Join IBD experts as they analyze the additional stocks in the stock market boom on IBD Live.
Corona virus news
Worldwide coronavirus cases have reached 118.62 million. The death of the Covid-19 topped 2.63 million.
U.S. In coronavirus cases in India. With over 544,000 deaths, 8.8..86 million people have now spread.
Treasury Yields Fall
The 10-year Treasury yield is down 1.52% in 3 basis points.
At 1 p.m., the results of the 10-year Treasury auction were announced. Demand for long-term debt of 38 38 billion was just that, but Treasury yields continued to decline after a significant drop on Tuesday. A weak seven-year auction on February 25 sent the Nasdaq tumbling below its 50-day line, forcing a struggling market boom to “move under pressure”.
On Thursday, the Treasury will auction the 30-year debt.
Prior to the opening, the Consumer Price Index (CPI) showed that inflation continued to be strong in February, with the exception of food and energy.
Stock market rally
The stock market was bullish, with the Dow leading and the Nasdaq trailing. On Tuesday, the Dow faded to close with a slim gain when the Nasdaq bounced back.
Strong CPI data led to a strong start in stocks, but the Nasdaq quickly faded.
The Dow Jones Industrial Average rose 1.5% in Wednesday’s stock market trading, reaching a record third straight session. The S&P 500 index rose 0.6%. Roll the Nasdaq joint to close the fracture lower.
Growth was mixed in stocks.
Among the best ETFs, the Innovator IBD50 ETF (FFTY) rose 1.3%, while the Innovator IBD Breakout Chances ETF (Boot) climbed 0.6%. Eichers Extended Tech-Software Software Sector ETF (IGV) revived 0.7%. Vanek Vectors Semiconductor ETF (SMH) sank 2%.
More reflective than speculative story stocks, Arc Innovation ETF fell 0.3% and Arc Genomics ETF 0.5%.
Bitcoin Rally
Bitcoin traded just below $ 56,000 on Wednesday night after topping 57,000 intraday. The cryptocurrency is closing at a record high of 58,356.27, up from its 21,868 dollar in February. On February 28, Bitcoin went to the level of about $ 43,000 but in March it has become more trendy.
Game Stop Whips
Game Stop (GME) reached the level of 8 3450.50, but in the minutes before closing from %% to ૨ 265, it came up against 126. GME stocks are still up 0% this week. Express (XPP), which reported mixed quarterly results as early as Wednesday, but in view of larger digital sales plans, rose 26% to 4.25.
AMC stock fell .2.5% to but.8585, but easing the coronavirus ban has benefited as vaccinations have increased and cases have skyrocketed. AMC reported higher-than-expected Q4 earnings late Wednesday evening.
Gamestep has gained momentum after tapping Ryan Cohen, co-founder of Chevy, a major investor in GME stocks, to help shift into e-commerce.
AMC stocks rose sharply overnight, with modest declines in GME stocks and express.
Where and when will GME stock and AMC roller-coaster end? who knows? The potential for huge gains or losses is huge. But investing with an investment edge is hard. What is your edge for buying GME stock?
Roblocks stock jumped in debut
Speaking of online gaming, Roblocks stock rose from 54% to 69 ..50 in its trading debut on Wednesday. Its online gaming platform, Roblocks Stock was revealed by direct listing instead of the traditional IPO. The company’s nickname “Roblox” was the biggest mobile game ever made by 2020 revenue. Revenue growth is picking up, but Roblox is still losing money.
Stocks in the buy zone
Boeing stock rose 6.4% to 245.34, clearing 244.18 cup-base buy points, according to Marketsmith analysis. On the weekly chart, BA stock had a small handle on the cup base, giving it an entry of 229.71.
DR Horton stock rose nearly 3% to 82.09. It is back above the previous 81.31 by points which is arguably still actionable. Investors also February. Will be able to use the downward-sloping trend line from the peak of 11. Shares of DIH broke above that trend line last Friday.
Flagstar’s stock rose 8.8%. 48.50, which is above the 48.02 flat-base buy point. FBC stocks soon erupted last week but fell sharply as Treasury earnings rebounded. The rescue and loan operator has seen a huge increase in earnings in recent quarters as demand for housing has increased due to lower mortgage rates.
The CF stock rose 2..9% to reach 3 49..33, above the rising support base from 48. to8 by points. Breaking the short trend line is also exaggerated.
Stock market rally analysis
The Dow Jones set an intraday record on the third straight day. But this time, the Dow closed above its February 24 high. The S&P 500 index rose 0.6%. Russell 2000 popped 1.7%, also reaching record highs. GME stock and Plug power (PLUG) are the two biggest names in Russell 2000.
The Nasdaq rose nearly 1.6% intraday but hit resistance at its declining 21-day exponential moving average, well below its 50-day line. After turning negative for a while, the Nasdaq closed slightly lower. The action was a bit disappointing given the declining Treasury yields, but after a 3..7% jump on Tuesday. If the Nasdaq moves more powerfully beyond its 21-day and 50-day lines in the coming days, Wednesday’s action will make no difference.
But right now, the stock market remains sharply divided.
The Dow Jones was up 1.5% in volume from the previous session. It’s strong, though not a spectacular action. On the plus side, the Dow Jones is now closing above its Feb. 24.
The Dow Jones is literally on the rise, even if you call it that. The names of the real economy continue to perform well when entering the better buy zone while others extend the breakout. As Treasury yields decline, housing drama such as DHI Stock and Flagstar is moving forward.
The combination of real economy and technical names, the S&P 500, rose modestly after retracing its 21-day rally on Wednesday.
Meanwhile, the Nasdaq still appears to be improving, below key levels. That can change quickly. But right now he hasn’t shown a true change of character.
Despite continued speculative action in Bitcoin as well as GME stocks and other short squeeze schemes, high value growth stocks are weakening.
It seems unlikely that the sharp stock market disruption could continue for long. Either the Nasdaq is more bullish – even if it lags behind the Dow – or the Nasdaq weighs in on the Dow.
What you should do now
Investors can take advantage of the breakdown in real economy stocks. But given the volatile segmentation of a given market, investors may not want to increase exposure. Speaking of growth stocks, look for further confirmation of the rally in the current market, especially from the Nasdaq. Even then, many tech growth names deal with sharp downtrends. Establishing the right foundation will take time.
Read the big picture every day to stay in tune with the market direction and leading stocks and sectors.
Please follow Ed Carson on Twitter IBD_ECarson For stock market updates and more.
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