The Dow Jones industrial average rose more than 200 points on Thursday, while technology shares were sold as Treasury yields rose. Apple and Tesla’s shares tumbled in the morning trading, while Dow Jones leader Nike will report earnings after the close.
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Among the Dow Jones leaders, appeal (AAPL) fell more than 2% on Thursday, while Microsoft (MSFT) fell almost 2% in today’s stock market. Nike (NKE) approaches a new buying point before today’s earnings.
Tesla (TSLA) left more than 3% in morning trading on Thursday. Dollar General (DG) and Five below (FIVE) reported profit results ahead of the stock market opening on Thursday.
Among the top stocks to watch, Applied Materials (AMAT) and FMD instruments (MKSI) is in or near buying zones in the current stock market.
Microsoft is an IBD Leaderboard share. Applied Materials is a recent addition to IBD SwingTrader, while MKS Instruments was the IBD Stock Of The Day on Tuesday.
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The Dow Jones industrial average rose 0.4%, while the S&P 500 fell 0.4%. The technological Nasdaq composition tumbled 1.4% in afternoon trading, even after reducing losses.
US stock market overview today |
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|---|---|---|---|---|
| Index | Symbol | Price | Profit / loss | % Change |
| Dow jones | (0DJIA) | 33125.96 | + 110.59 | +0.33 |
| S&P 500 | (0S & P5) | 3956.62 | -17.50 | -0.44 |
| Nasdaq | (0NDQC) | 13340,48 | -184.72 | -1.37 |
| Russell 2000 | (IWM) | 231.58 | -0.73 | -0.31 |
| IBD 50 | (FFTY) | 47.47 | -0.16 | -0.34 |
Last updated: 10:42 PM ET 3/18/2021 |
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The Federal Reserve indicated on Wednesday that it is unlikely to rise until 2024, despite a strengthening U.S. economy.
New economic forecasts have shown that Fed policymakers will stand still, even if inflation exceeds their 2% target this year and stays at or above 2% for the next two years.
The ten-year treasury yield rose to 1,754% on Thursday morning, reaching a 14-month high.
Among the exchange-traded funds, the Innovator IBD 50 (FFTY) fell 0.9% on Thursday. Nasdaq 100 tracker Invesco QQQ Trust ETF (QQQ) fell 1.85%. Meanwhile, the SPDR S&P 500 ETF (SPY) fell 0.7%.
Stock market rally: Nasdaq faces key test
Amid a new rise in the stock market, the Dow Jones industrial average and S&P 500 indices made more everyday highs on Wednesday.
Meanwhile, the tech Nasdaq is at its 50-day moving average line and about 5% off at its highest points. The Nasdaq will have to overcome this important hurdle to maintain its upward trajectory. The 50 day line is a critical potential resistance level. If the Nasdaq definitely clears it up, new highs may be imminent.
IBD’s market outlook was upgraded to ‘confirmed rise’ on March 10, as the Dow Jones industrial average hit new highs.
The big picture of Wednesday said: “The stock market recovered from the low on Wednesday after Wall Street got exactly what it wanted from the Federal Reserve: another statement of the dull policy.”
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Dow Jones shares: Nike earnings
Within the Dow Jones industrial average, Nike shares are closer to a 148.05 flat on a flat basis, according to the IBD MarketSmith chart analysis. Shares are down about 2% from their buying point amid the 0.1% gain on Thursday.
Late Thursday, Nike will report its quarterly earnings results. The company is expected to earn 76 cents per share on revenue of $ 11 billion.
Shares to watch: applied materials, MCC instruments
IBD SwingTrader stock Applied Materials is nearing completion of a new base, which would offer a 124.60 buy point. Meanwhile, the stock is returning from its 50-day key line after testing that level on March 8th. Shares fell about 2% on Thursday.
According to IBD Stock Checkup, AMAT shares have a perfect 99 IBD Composite Rating. The IBD Composite Rating helps investors measure the quality of the fundamentals and technical benchmarks of a stock.
Tuesday’s IBD Stock Of The Day, MKS Instruments, is past a 177.46 double-bottomed buy point in the buying range, according to the IBD MarketSmith chart analysis. The buying zone of 5% rises to 186.33.
Shares declined about 2% on Thursday morning, and it is just above the entry.
Stock Market Earnings: Dollar General, Five Below
Early Thursday, Dollar General missed its earnings targets and offered poor guidance for the full year. The share of Dollar General tumbled 5% on Thursday and is more than 20% lower than the 52-week high.
Five Below reported better-than-expected Q4 earnings and forecast for the first quarter late Wednesday. Shares reduced the rise in morning trading to around 1%.
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Tesla Stock
Tesla shares slipped more than 3% on Thursday morning, threatening to give up a majority of Wednesday’s gain of 3.7%. Shares may form a new base, but it is too early to identify a new entry.
On February 22, the leader for electric cars broke through its key ten-week moving average line, a critical support level.
On January 25, Tesla shares reached a record high of 900.40, after climbing as much as 93% of a 466 buy point in a handle with a handle. Shares are about 25% less than the everyday high.
Dow Jones Leaders: Apple, Microsoft
Among the top Dow Jones shares, Apple fell about 2% on Thursday, beating Wednesday’s 0.65% drop. Apple shares are recovering from its long-term 40-week line and may soon try to get its ten-week line back.
On February 18, Apple shares caused the loss-cutting selling rule of 7% -8% when it dropped more than 7% below the 138.89 buy point in a handle with a cup.
Meanwhile, IBD Leaderboard share Microsoft fell nearly 2% on Thursday, wanting to extend the 0.3% loss on Wednesday. Shares are just above their 232.96 buying point and are within buying range.
According to Leaderboard’s comments, “Microsoft maintains support at its 50-day moving average and is above a 232.96 buy point and an earlier entry at 228.22.”
Follow Scott Lehtonen on Twitter @IBD_SLehtonen for more information on growth stocks and the Dow Jones industrial average.
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