The Dow Jones industrial average reversed lower after briefly rising more than 100 points as Bitcoin rose to its highest point in the world on Thursday. Tesla shares wanted to bounce back due to the sell-off on Wednesday as an important level of support lies ahead. The Bumble release will begin Thursday, with Disney’s earnings payable after closing.
X
Among the Dow Jones leaders, appeal (AAPL) decreased by 0.1%, while Microsoft (MSFT) rose 0.4% in today’s stock market. Nike (NKE) is approaching a new buying point after last week’s strong move. Disney (DIS) is in a buyout after the outbreak of Monday before the company’s earnings after closing.
Tesla (TSLA) tried to bounce back from 5.3% on Wednesday, reaching around 1% in morning trading. Tesla shares could be put up for a test of its ten-week support level. The Bumblebee (BMBL) IPO will start trading on Thursday after being priced late Wednesday.
Palo Alto Networks (PANW) and Nvidia (NVDA) is one of the leading stocks in or near the buying zones in Thursday’s stock market action.
Apple, Microsoft and Tesla are IBD Leaderboard shares. Nvidia was the IBD Stock Of The Day, while Palo Alto Networks was the IBD 50 Stocks To Watch choice on Tuesday. Meanwhile, Nike was seen in the Stocks Near A Buy Zone.
Dow Jones Today
On Thursday, the Dow Jones industrial average turned slightly lower, while the S&P 500 rose 0.1%. The technically heavy Nasdaq composition climbed 0.4% in morning trading.
US stock market overview today |
||||
|---|---|---|---|---|
| Index | Symbol | Price | Profit / loss | % Change |
| Dow jones | (0DJIA) | 31476.63 | +38.83 | +0.12 |
| S&P 500 | (0S & P5) | 3916.10 | +6.22 | +0.16 |
| Nasdaq | (0NDQC) | 14016.72 | +44.18 | +0.32 |
| Russell 2000 | (IWM) | 228.20 | +1.32 | +0.58 |
| IBD 50 | (FFTY) | 48.52 | +0.43 | +0.89 |
Last updated: 10:36 ET 2/11/2021 |
||||
Among exchange-traded funds, Innovator IBD 50 (FFTY) rose 0.8% on Thursday. Nasdaq 100 tracker Invesco QQQ Trust ETF (QQQ) rose 0.3%. Meanwhile, the SPDR S&P 500 ETF (SPY) added 0.2%.
Are stock market rallies overheated?
Looking back at the current rise, November was an important month for the stock market. IBD’s The Big Picture led the new uptrend after the bullish follow – up day of the market on 4 November. Meanwhile, the Dow Dow Industrial, Nasdaq and S&P 500 have meanwhile reached a record high. But is the stock market overheated?
The big picture of Wednesday said: “It looked like it was going to be a tough day for the stock market on Wednesday after a spate of sales hit in the morning trade. But the Nasdaq composite was able to lose 1.2 shave off to almost 0.3%. “
Due to the recent strength, investors may return to a breach, with the understanding that there are still good reasons for caution. Look for stocks that are breaking out above new buying points, such as Disney, Nvidia and Palo Alto Networks.
Focus on stocks that have shown strong relative strength during the recent weakness. They can be some of the leaders of the market if the indices are able to continue their record methods.
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Bitcoin price
The price of Bitcoin rose by more than 7% on Thursday morning at all times. Bitcoin, according to Coindesk, reached as high as $ 48,297 before rising to $ 47,900 in morning trading.
The Grayscale Bitcoin Trust (GBTC) has risen by 8% and is approaching a new high.
Dow Jones shares: Nike
Within the Dow Jones Industrial Average, Nike found a new flat base with a buying point of 148.05. The stock rose 0.6% on Thursday morning and is down just 4% from the new entry.
Nike has regained its 50-day moving average line strong in recent sessions.
Stock market earnings: Uber, Yeti
Uber shares reduced losses to just 0.1% early Thursday following the company’s mixed Q4 results, which did not meet revenue targets. The company reduced its loss to 54 cents a share on sales of $ 3.2 billion.
Shares reached a new high on Wednesday, but are now falling from that level.
Yeti reported strong Q4 earnings early Thursday as consumers continue to go outside for recreation during the pandemic. Yeti earnings were up 52% to 74 cents a share, and sales were up 26% to $ 352.53 million.
The stock fell more than 8% in the morning trading and tested the 50-day line.
Bumble IPO
The Bumble Stock Exchange raised $ 2.15 billion on Wednesday, at a price of 43 per share. Shares began trading Thursday under the BMBL folding card.
Remember to wait until an IPO base forms before buying a new IPO stock.
Dow Jones earnings: Disney
Dow Jones shares at Disney broke out on Monday and, according to the IBD MarketSmith chart analysis, passed a buying point of 183.50 in a flat base. The buying area of 5% rises to 192.68. Disney shares rose higher on Thursday and are about 3% above the listing.
Disney will report earnings after closing. Analysts expect the media giant to lose 34 cents a share on revenue of $ 15.9 billion.
Shares to watch: Palo Alto, Nvidia
Tuesday’s IBD 50 Stocks To Watch selection, Palo Alto Networks, is at a buying distance of more than 375.10 points in a flat base. Shares declined 0.2% on Thursday morning and were almost extended.
The IBD 50 share is expected to report its fiscal second quarter 2021 after the market closes on 22 February.
According to IBD Stock Checkup, Palo Alto shares boast a 96 out of a perfect 99 IBD Composite Rating. The compound valuation – an easy way to identify top-growth stocks – is a mix of key fundamental and technical measures to help investors determine the strengths of a stock.
IBD Leaderboard shares Nvidia is in the buying range past a flat base’s 587.76 buying point amid a 2% rise on Thursday. On February 8, shares broke above an early entry at 560.07.
According to Leaderboard’s comments, “Nvidia cleared an alternative entry of its highs in January. The stock is still operating on a flat basis. Nvidia was cut to a quarter position on January 27 and rose to half a position on Monday.”
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Tesla Stock
Tesla shares wanted to bounce back due to the sharp loss of Wednesday and rose almost 1% on Thursday. Shares may be heading for a ten-week test of their line, a major turning point.
The January 8 IBD Stock Of The Day column indicated that Tesla has flashed several signs of a highs-top amid a sharp vertical run over the past few weeks. The shares showed strong resilience until Wednesday.
On January 25, Tesla shares reached a record high of 900.40, which climbed 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 0.1% on Thursday and remains below its buying point of 138.89 in a cup with handle. Shares resigned on January 28.
Meanwhile, Microsoft assisted 0.4% on Thursday morning and is only ashamed of record highs. Shares of the software giant have broken out to a 232.96 buy point in recent sessions. The stock is at the top of the 5% buying zone rising to 244.61.
Follow Scott Lehtonen on Twitter @IBD_SLehtonen for more information on growth stocks and the Dow Jones industrial average.
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