The Dow Jones industrial average rose 200 points on Wednesday as the earnings season began with results from JPMorgan and Goldman Sachs. Tesla shares have reversed sharply lower, while the Coinbase stock market will rise 40%.
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Among the Dow Jones leaders, appeal (AAPL) fell 0.4% on Wednesday, while Microsoft (MSFT) has fallen by 0.2% in the current stock market. Boeing (BA) is back in the buying range after the losses last week.
Dow Jones Investment Banks Goldman Sachs (GS) and JPMorgan (JPM) estimated early Wednesday in the first quarter.
Tesla (TSLA) rose more than 1% before reversing lower Wednesday.
Among the top stocks to buy and look at is IPO leader Roblox (RBLX) and Nvidia (NVDA) is in new buying zones, while Square (SQ) is approaching a new buying point.
Boeing and Microsoft are IBD Leaderboard shares. Roblox and Square appear in this week’s Stocks Near A Buy Zone column.
Dow Jones Today
The Dow Jones industrial average rose 0.7%, while the S&P 500 rose 0.1%. The technology-heavy Nasdaq compound reversed 0.3% lower in afternoon trading.
Among exchange-traded funds, the Innovator IBD 50 (FFTY) rose 0.6% on Wednesday. Nasdaq 100 tracker Invesco QQQ Trust ETF (QQQ) lost 0.8%. Meanwhile, the SPDR S&P 500 ETF (SPY) was flat.
Stock market rally: Dow, S&P hit new highs
Amid the current upswing in the stock market, the Dow Jones Industrial Average reached a record high on Wednesday, while the S&P 500 is just its highest point.
Meanwhile, the tech-savvy Nasdaq sits just off its everyday highs amid the recent strength of the index.
In the big picture of Tuesday, it says: “For the third consecutive session, indices have saved their best work for the last hours. Closing close to the sessions, especially after the indices were weak, is a feature of a positive trend in the Along with that and a lack of distribution days, the stock market is positive, at least in the short term. ‘
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Bitcoin price
Bitcoin gained about 1% on Wednesday and, according to CoinDesk, hit a high of $ 64,829 before making a profit.
The Grayscale Bitcoin Trust (GBTC) reversed slightly lower on Wednesday, with a rapid range of four days.
Dow Jones earnings: Goldman, JPMorgan
Early Wednesday, Dow Jones investment bank Goldman Sachs and JPMorgan shattered Q1 estimates.
Goldman reported revenue of $ 18.60 to $ 17.7 billion. Shares jumped 3% in the morning trading and are back from their 50-day line.
JPMorgan earnings increased 477% to $ 4.50 per share. Revenue rose to $ 33.12 billion. The stock slipped about 1% in the morning trading, approaching its 50-day support level.
Also among Dow stocks, Boeing is again in the buying range above a 244.18 buy point in a cup base. The 5% buy range rises to 256.39.
On Wednesday, shares rose 1%.
Shares for sale: Nvidia, Roblox
Graphic chip maker Nvidia breaks out above a 615 buy point in a new mug base. Shares are up for sale amid the 3.1% advance on Tuesday. Nvidia shares fell about 1% early Wednesday, but are still above the buying point.
IBD Leaderboard shares Roblox breaks out to an IPO base’s 79.20 buyout, according to IBD MarketSmith chart analysis. Shares closed Tuesday in the 5% buying zone ending at 83.16. The stock lost about 2% on Wednesday morning.
According to Leaderboard’s comments: “The relative strength of the stock is in a new high ground, giving the outbreak earnings.”
Shares to watch: square
Square declined nearly 1% on Wednesday, with a rapid ten-day series. Shares are approaching a buy point of 283.29 in a cup base. Last week, square shares broke above a trend line entry around 242.
According to IBD Stock Checkup, Square stock has a perfect 99 IBD Composite Rating. The IBD Composite Rating helps investors measure the quality of the fundamentals and technical benchmarks of a stock.
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Coinbase Exchange
Cryptocurrency Exchange Coinbase Global received a reference price of $ 250 per share late Tuesday for its direct listing on the Nasdaq in a highly anticipated exchange. The Coinbase wallet starts on Wednesday under the coin COIN.
According to MarketWatch, Coinbase will be 40% higher than the 250 exchange. The IPO indicates that it will open about 350.
Coinbase is the largest US currency exchange. It contains a list of about 50 cryptocurrencies that can be traded and is the first major crypto company to be announced.
Tesla Stock
Tesla shares rose more than 1% on Wednesday morning before reversing lower. The EV giant was Monday’s IBD Stock Of The Day.
Shares in Tesla regained their most important ten-week moving average, a critical resistance level, for the first time since the end of February. Tesla is forming a new base, but it’s still too early for a new risk-optimal buying point.
On January 25, Tesla shares reached a record high of 900.40, after climbing to 93% from a 466 buy point in a cup with handle.
Dow Jones Leaders: Apple, Microsoft
Among the top Dow Jones shares, Apple fell 0.4% on Wednesday to return a share of Tuesday’s 2.4% gain.
Apple shares are coming back from its 40-week line and again above the 10-week line. On February 18, Apple shares caused the loss-cutting selling rule of 7% -8% when it fell more than 7% below the 138.89 buy point in a handle with a cup.
Software giant Microsoft fell 0.2% on Wednesday. Microsoft trades at the top of the 5% buying range past a flat base’s 246.23 buying point which is on top of 258.54.
Follow Scott Lehtonen on Twitter @IBD_SLehtonen for more information on growth stocks and the Dow Jones industrial average.
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