Dow Jones futures rose slightly on Thursday night, along with S&P 500 futures and Nasdaq futures. Thursday was a tough session for the stock market. The Dow fell modestly as the Nasdaq suffered its biggest loss since the end of October, as did Apple stock. Tesla (TSLA) and many other techniques were taken from the resistance areas.
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Although new covid shutdowns in France and crude oil prices did not help, the Treasury’s high revenues began. Investors should bring clarity to a large number of tech stocks when investing prudently in other growing sectors.
FedEx (FDX) and Nike (NKE) Earnings after closing.
FedEx earnings were better than expected, with EPS and sales growth in the third straight quarter. The FDX stock rose 4% to 263.51 in broad trading on Thursday after falling 0.9%.
Nike beat earnings when revenue fell. Nike stock on Friday indicated testing of its 0-day line, it sank %% overnight. The Dow Jones Giant fell 1.1% to 143.17 on Thursday. NKE stock has 148.05 by points.
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Meanwhile, some major tech and growth stocks again hit resistance with the Nasdaq under pressure. A few examples include Tesla stock, PayPal (PYPL), Pinterest (Pin), Nvidia (NVDA), Apple (AAPL) and Twilio (TWLO).
Volkswagen (VWAGY), which had expanded greatly amid cheerfulness for its big EV push, sank 15%. Still, VWAGAG’s stock is up 18.5% above its 10-day line.
Williams-Sonoma (WSM) erupted on Thursday, rising 18.5%. WSM stocks rely on strong earnings and guidance as well as dividend increases and buybacks.
PayPal and Nvidia stock are on the IBD leaderboard. AAPL stock is on SwingTrader. PayPal stock IBD is on the long-term leaders. Tesla Stock, PayPal and Williams-Sonoma are on the IBD50. PINS stock is on the Big Cap 20.
Dow Jones futures today
Dow Jones futures rose 0.15% in fair value. S&P 500 futures rose 0.2%. Nasdaq 100 futures rose 0.2%.
Remember that overnight action in Dow futures and elsewhere does not necessarily translate into actual 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
Coronavirus cases worldwide have reached 122.32 million. The death toll of Covid-19 peaked at 2.7 million.
U.S. There have been 30.55 million cases of coronavirus in India, in which more than 255,000 people have died.
Said the European Medicines Agency AstraZeneca (AZN) coronavirus vaccine is not associated with blood clots. It could pave the way for European countries to resume AstraZeneca Jabs. Even before the AstraZeneca vaccine suspension, the EU lagged far behind the UK and the US in terms of vaccinations.
Many European countries are seeing an increase in covid cases as a result. Most of Paris and France will enter a partial lockdown starting Saturday and last for four weeks. Italy imposed several restrictions on Monday. This will slow down Europe’s economic recovery, while the U.S. Coronavirus quickly reverses restrictions.
The FDA has not yet approved the AstraZeneca vaccine, awaiting the outcome of the US trial. The Biden administration says it will send several million doses stored in Canada and Mexico.
Stock market rally on Thursday
The rally in the stock market was pro-defense, while the session leading to the Nasdaq index was short.
The Dow Jones Industrial Average closed below 0.5% on Thursday. The S&P 500 index fell 1.5%. The Nasdaq Composite sank 3% in higher volumes, the worst decline since the October 28 decline of 3.7%.
The 10-year Treasury yield rose 7 basis points to 1.71%. The intraday peaks after January 2020 were the highest since January 2020. GDP growth is expected to grow by 6% -8% in 2021 as the epidemic spreads, while fiscal and monetary policy is fully tilted, with Treasury revenues rising from historically low levels, much of the revenue coming in. Sense.
U.S. Crude oil prices fell 7.1% to 60 60 a barrel, falling for the fifth straight session. US crude inventories rebounded last week, the Energy Information Administration reported Wednesday. Gasoline supplies have soared again after weeks of manufacturing refineries. Meanwhile, Europe’s coronavirus woes will weigh on energy demand there.
Crude oil and solar stocks hit hard on Thursday, heading for the biggest decline in the S&P 500.
Heat resistance in growth stocks
Tesla shares tumbled 6.9% to 653.16. It is hitting resistance around the 21-day exponential moving average, with a significant 50-day line above it. On Wednesday, TSLA stock closed above its 21-day high with a reversal.
Apple Pal stock also slipped 3.4% from its 21-day line to 120.53. On Tuesday, Apple Play popped up 21-day and straight downtrend. PYPL stocks, TWLO, PNS and Nvidia fell back from their 21-day and 50-day lines on Thursday, losing 5% -9% on Thursday.
Among the best ETFs, the Innovator IBD50 ETF (FFTY) fell 2.7%, while the Innovator IBD Breakout Opportunities ETF (BOUT) fell 3.7%. IShares Extends Tech-S Software Software Sector ETF (IGV) 3.5. %% retreat. Vanek Vectors Semiconductor ETF (SMH) fell 4 %%, with Nvidia stock being the main component.
Reflecting more speculative story stocks, ARK Innovation ETF fell 5.8% and ARK Genomics ETF fell 4.7%. Like many speculative growth names they have, both ARK ETFs fell back from their 21-day line. Tesla stock is the largest holding in the ETF of ARK Investments.
Stock of the day: High-end retailer with multiple buy points
Stock market rally analysis
On Wednesday, the Nasdaq Federal Reserve meeting and the comments of Fed Chief Jerome Powell led to a rebound from lower levels of gains in Treasury yields.
But Thursday’s spike in the 10-year Treasury yield knocked the Nasdaq below the 50-day line three days after the main level. Nasdaq and growth stocks will be able to control rising Treasury yields, but not spiking yields. Like the brave Sir Robin in Monty Python’s “Holy Grail,” the Nasdaq screams “escape” and escapes at the first sign of trouble.
The Nasdaq closed below its 21-day line for the first time since March 10 and will undercut Wednesday’s intraday lows.
Bottom line: the joint essential is still in correction. As long as the Nasdaq is below its 0-day line – as well as resistance near last week’s near-highs – it is especially the case with people stuck below key levels like Tesla, Apple Pal and Twilio, many others are in even worse shape.
But also techniques that break or flash early entries – such as Applied Materials (AMAT), MKS Instruments (MSKI) and some other chip names – at the mercy of the Nasdaq.
If you have some long-term holding or pilot positions in some of the techniques, that’s fine, but right now investors should focus on what works.
Dow Jones, looks strong for now
From the techniques, the stock market rally is still looking healthy. The Dow Jones hit a new high intraday, with the S&P 500 and Russell 2000 not far off. The real economy / economy re-opening plays continue to explode, increase profits or at least catch up.
If the Nasdaq starts to move towards its recent low, as the Dow did in early March, the broader market could weaken. Indeed, on Thursday, the Nasdaq’s slide, along with energy prices, caused sharp losses in the S&P 500 and eventually pulled the Dow Jones down.
So don’t feel that you have to invest heavily. Don’t chase extended stocks from the buy zone.
As always, be flexible and engaged.
Read the big picture every day to stay in line with market direction and leading stocks and sectors.
Follow Ed Carson on Twitter IBD_ECarson For stock market updates and more.
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