The Dow Jones Industrial Average rose more than 500 points shortly before gains on Monday following a sell-off in the stock market on Friday. Apple turned low .Tesla turned again. Neo increased its strong vehicle delivery by 14%.
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Among the Dow Jones leaders, Apple (AAPL) rallied more than 1% before the lower reversal, while Micro .ft (MSFT) is down 0.3% in today’s stock market. Meanwhile, Nike (NKE) is trying to find support at a critical level.
Tesla (TSLA) jumped as much as 4%, trying to bounce back from Friday’s 5.55% dive.
Includes stocks on early move on Monday Li Auto Toe (LI), Neo (NIO) and Expang motors (XPEV). All three Chinese electric-car manufacturers posted heavy vehicle deliveries in October.
The stock market is bullish in the buy zone or nearby stocks JD.com (JD) and Monolithic power systems (MPWR).
JD.com, Microsoft Microsoft Ft, Nike and Tesla are all IBD leaderboard stocks.
Dow Jones today
Earlier Monday, the Dow Jones Industrial Average rose 1.7%, while the S&P 500 rose 1.4%. The tech-heavy Nasdaq composite rose 0.6% in morning trade after gaining sharply.
US stock market observed today |
||||
|---|---|---|---|---|
| Index | Symbol | Price | Advantages / disadvantages | Change% |
| Dow Jones | (0 DJIA) | 26909.34 | +407.74 | +1.54 |
| S&P 500 | (0s and p5) | 3310.54 | +40.58 | +1.24 |
| Nasdaq | (0NDQC) | 10989.11 | +77.52 | +0.71 |
| Russell 2000 | (IWM) | 154.74 | +1.65 | +1.08 |
| IBD50 | (FFTY) | 36.41 | +0.46 | +1.28 |
Last updated: 10:46 AM and 11/2/2020 |
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Among exchange traded funds, innovator IBD50 (FFTY) rose 1% on Monday. The Nasdaq 100-linked Invesco QQQ Trust (QQQ) ETF traded up 0.3%. Meanwhile, the SPDR S&P 500 ETF (SPY) gained 1.2%.
Amid a boom in the coronavirus stock market, the tech-heavy Nasdaq rose 21.6% for the year to Friday’s close. Meanwhile, the S&P 500 has risen to 500%, while the Dow has risen 1.2% to 1.2%. Is close to Through0.
Coronavirus updates
According to WorldMeter Data Tracker, U.S. The number of coronavirus cases confirmed in India stood at 9.4 million on Monday. The total death toll from the virus has risen to around 236,000.
A total of 1.2 46.9 million viruses have been confirmed worldwide since the outbreak of Covid-19 on Monday, with more than 1.5 million deaths related to the virus.
Coronavirus stock market trend
According to IBD’s The Big Picture, the coronavirus stock market recently rallied due to heavy institutional selling.
On Friday, Big Picture warned that “the worst week since the coronavirus market crash in March was the fastest sell-off in the stock market. Tesla saw a big drop in all. “
Investors in the correction market should avoid new purchases. Exposure should be severely limited, and 100% cash would certainly be acceptable.
The correction in the stock market may seem boring, but a new uptrend could be four days. So don’t tune. This is the best time to create a new list of stocks that turn into the next stock market leader.
In particular, focus on stocks with strong relative strengths. You can still find leaders of the uptrend while the market is still improving, which can be done using the respective strength line. The price of RS line stock measures S&P 500 versus performance. If the stock is heading for a broader market, then the RS line is in the upward corner. If a stock performs worse than a broad market, then the line will come down.
Watch stocks include IBD long-term leaders, companies with stable earnings growth and price performance.
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Dow Jones Stocks: Nike Test Key Levels
Dow Jones leader Nike Market Gust. For the first time since 10, he has returned to his 0-day line. According to the Marketsmith chart analysis, the 10th breakout above 104.79 by points in the handled cup. The stock has risen more than 2% in early trade.
The blue chip retailer is one of Dow’s top performers in 2020, up 18.5% from Friday’s close.
Tesla rival Neo Source
Tesla rival Neo rose 14% on Monday after reports of strong October vehicle deliveries. Neo delivered 5,055 vehicles in October-October, up 100% year-over-year. Year-to-date deliveries more than doubled, jumping 111% to 31,430 vehicles.
Shares of Neo reached record highs.
Expang Motors recorded a delivery of 040 on October 0, an increase of 5 %% year-on-year. Year-to-date deliveries are up 64% to 17,117. Shares rose 14% in morning trade.
Meanwhile, Li Auto Toe said October delivery of one of its SUVs rose 5% to 3,692 in the month of October. Beijing-based Li started production of the volume in November 2019. Marketsmith is up 21.96 by points in the stock-handled cup during a 15% growth, according to chart analysis. Remember, a correction in the stock market prevents new purchases.
Shares near Buy Zone: JD.com, Monolithic
JD.com is coming in at 85.49 by points of cup-with-handle. The stock is about 3% away from new entries after 1% growth on Monday.
According to IBD Stock Checkup, JD Stock has 99 out of the highest possible IBD composite rating. The composite rating – an easy way to identify top growth stocks – is a combination of key basic and technical metrics to help investors estimate the strength of the stock.
Friday’s IBD stock The F The Day, Monolithic Power Systems, is trading near 325.28 by points in short shelf consolidation. Shares rallied 0.5% on Monday morning.
The bullish point is that the relative strength line of the stock is already at a new high, indicating that the stock has held up well during the recent stock market sell-off.
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Tesla stock
Tesla stocks rebounded from Friday’s 5.55% dip, up nearly 2% in morning trading. Shares are up 20% at their 52-week off-peak, as they form a new base with 466 by points.
According to the IBD leaderboard’s criticism, “the stock makes an awkward shaped cup with a handle. The handle is getting more ening but it has remained in place.”
Dow Jones leaders: Apple Pal, Micro .ft
Among the top Dow Jones stocks, Apple Pall adds to Friday’s earnings-related 5.5% slump with a gain of more than 1% as opposed to a 1% low.
The blue-chip giant, the Dow Jones stock performer No. 1 for 2020, is 48.3% ahead of Friday’s close. Add the latest Dow Jones 30 Salesforce.com (CRM) is the No. 2 performer with 42.8% year-to-date advance.
Software giant MicroSFT is expected to recover from Friday’s 1.1% fall, but fell 0.3% on Monday morning. Shares remain square below their 50-day line.
To date, MicroSF is one of the top stocks in the Dow Jones, up 28.4% from Friday’s close.
Be sure to follow Scott Lehotton on Twitter @IBD_SLehtonen For more on growth stocks and Dow Jones futures.
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