The Dow Jones futures, along with the S&P 500 futures and the Nasdaq 100 futures, traded higher on Friday with an overnight loss in the February jobs report. Tesla stock appeared to be recovering from heavy losses, but in pre-market trading it came down again.
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Among the Dow Jones leaders, Apple (AAPL) was in the 0.1% premarket on Friday Micro .ft (MSFT) rose 0.3% in today’s stock market. Visa (V) is below the new buy point after admission on Thursday.
Tesla (TSLA) rebounded from Thursday’s nearly 5% dive, but shares in premarket trade fell nearly 1%.
Chip leader after the stock market on Thursday Broadcom (AVGO) reported strong quarterly earnings results.
Among the top stocks to watch, Alphabet (Google) and Well (Vale) is trading near the new buy point between the sell-off of the existing stock market.
Micro .ft and Tesla are IBD leaderboard stocks. Vale was IBD stock of the day on Thursday.
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Dow Jones futures rose 0.3% in open stock markets on Friday, while S&P 500 futures rose 0.4% to fair value. The Nasdaq 100 futures rallied 0.25% against the fair value. Remember that trading in Dow Jones futures and elsewhere does not have to be in real trading in the next regular stock market session.
At noon on Thursday, Fed Chief Jerome Powell said last week’s increase in bond yields “caught my attention.” Saying this, the day started selling. But Powell also said the Fed remains very flexible and does not signal a new “twist” in policy. The 10-year Treasury yield closed at 1.57%.
The Labor Department will release its monthly jobs report at 8:30 p.m. The UCO economy is expected to create 175,000 jobs in February, compared to just 49,000 in January, Econode said. Unemployment is expected to remain stable at 6.3%.
Among exchange traded funds, Innovator IBD50 (FFTY) traded down 5.2% on Thursday. Nasdaq 100 Tracker Invesco QQQ Trust ETF (QQQ) fell 1.6%. Meanwhile, the SPDR S&P 500 ETF (SPY) went down 1.2%.
The stock market is sold
Looking at the recent uptrend, November was the main month for the stock market. IBD’s Big Picture showed a new improvement on November 4 following a market rally. Meanwhile, early March the Dow Jones Industrial Average is falling below the Nasdaq and S&P 500 key support levels.
According to Thursday’s big picture, “The Nasdaq dived to its lowest level last week, closed at its lowest level since January 4 and turned negative for the year. To its February 16 record. “
During periods of severe stock market weakness, investors should invest little until the day following – or 100% cash – too. Follow-thru signals a new potential market uptrend and gives the green light to start buying stocks again.
Use downtime as an opportunity to take a mental break; However, do not tune out. Watch out for the next leaders to emerge. One of the best ways to identify the next cycle of leading stocks during a correction in the stock market is to use a relative strength line. The price of RS line stock measures S&P 500 versus performance. If the stock is heading for a broader market, the RS line is pointing upwards. If a stock performs worse than a broad market, then the line will come down.
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Bitcoin price
Bitcoin fell nearly 1% on Friday, falling below $ 47,000 shortly before the loss was surpassed. According to Coindesk, the price of Bitcoin in the morning trade was about 47,300 dollars.
On February 21, the price of Bitcoin peaked at -58,332 dollars and reached an all-time high.
Grayscale Bitcoin Trust (GBTC) ETFs fell 10.3% on Thursday, but are still above the 50-day support level.
Dow Jones Stocks: Visa
Within the Dow Jones Industrial Average, according to IBD Marketsmith chart analysis, Visa is trading below 211.69 by points in the cup with stock handles. 5% Buy Zone goes up to 222.27.
Shares were unchanged in the premarket on Friday, as they meet a three-day losing streak.
Watching Stocks: Alphabet, Well
Fang stock leader Alphabet rallied 1.1% on Thursday against the weakness of the stock market. The stock will expand at a flat base of 1,843.93 by points and is about 5% away from its entry of 2,145.24 over a three-week period. The stock rose to a higher premarket on Friday.
According to IBD Marketsmith chart analysis on Thursday IBD stock The F The Day, Vale is looking for a cup with a handle with 18.57 by points.
Shares fell 2.1% on Thursday, closing above their 50-day line. Well stocks rose 1% since Friday’s opening.
Keep in mind that investors should be sidelined by the current stock market weakness.
Stock market earnings: Broadcom
Chipmaker Broadcom easily beat Street’s targets for its fiscal first quarter and provided high guidance for the current period. The company had a market share of 6.61 billion dollars in sales for the quarter ended January 31. Analysts had expected Broadcom’s shares to sell at 6.55 billion dollars on sales of 6.61 billion dollars.
AVGO stock fell nearly 1% in the premarket on Friday. Shares left their 0-day support level on Thursday, down 2.6%.
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Tesla stock
Tesla stock will bounce back amid a three-day loss move from Thursday’s 9% decline. But the stock fell about 1% in the premarket on Friday. The stock may form a new base, but it is too early to identify a new entry.
Last week, the electric-auto toe leader broke its key 10-week moving average line, a key support level.
On January 25, Tesla shares touched 900.40 after falling 93% from 466 by points in the Handled Cup. Shares are about 30% all-time low.
Dow Jones leaders: Apple Pal, Micro .ft
Among the top Dow Jones stocks, Apple Pal was slightly positive on Friday after falling 1.6% on Thursday. Apple Pal stock is just below its 10-week line, but a strong rally behind the level will be bullish for the stock’s prospect. Meanwhile, the stock could be set for testing its long-term 200-day line.
On February 18, stock pul stocks, which fell more than 7% from its 138.89 buy point in the handled cup, began selling off to cut the 7% -8% loss.
Meanwhile, the micro .ft premarket rose 0.3% on Friday. The stock is trading below its 232.96 buy point.
Be sure to follow Scott Lehotton on Twitter @IBD_SLehtonen Growth for stocks and more on the Dow Jones Industrial Average.
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