The Dow Jones Industrial Average rose on Thursday after unemployment claims and retail sales data fell slightly short of expectations. Goldman Sachs and Apple chip maker Taiwan Semi reported earnings ahead of the opening. And the Twitter share rose more than 5% before falling in rises after Tesla CEO Elon Musk offered to buy the company.
Dow Jones stock Goldman Sachs (GS) reported earnings Thursday morning. Financial rivals Citigroup (C), Morgan Stanley (MS) and Wells Fargo (WFC) also reported early Thursday. Finally Apple chipmaker Taiwan Semiconductor Manufacturing (TSM) topped the estimates, triggering a 2.7% increase in early trading.
Among the Dow Jones executives, Apple (AAPL) fell 0.6% while Microsoft (MSFT) fell 0.9% in today’s stock market.
Twitter (TWTR) reduced gains to around 3% after Tesla CEO Elon Musk offered to buy Twitter for $ 54.20 per share in cash, calling the bid his “best and final offer.” Electric car giant Tesla (TSLA) slipped nearly 3% on Thursday, threatening to have a two-day winning streak.
As the stock market’s upward trend struggles, the Dow Jones is the financial leader American Express (AXP) – along with IBD Leaderboard Watchlist Edwards Lifesciences (EW), Murphy oil (WALL), Raytheon technologies (RTX) and Must (SHEL) – is among Thursday’s best stocks to buy and see.
Microsoft and Tesla are IBD Leaderboard shares. Edwards Lifesciences and Raytheon Technologies were featured in this week’s columns Stocks Near a Buy Zone.
Dow Jones today: government interest rates, oil prices
After Thursday’s opening, the Dow Jones Industrial Average rose 0.4%, while the S&P 500 fell 0.2%. Nasdaq lost 0.7% in morning trading. The stock exchange is closed on Good Friday.
Among exchange-traded funds, the Nasdaq 100 tracker Invesco QQQ Trust (QQQ) has traded down a fraction. And the SPDR S&P 500 ETF (SPY) rose 0.1% after Thursday’s opening.
10-year US government interest rates ticked down to 2.68% on Wednesday after briefly hitting the highest level since December 2018 on Tuesday. The 10-year government interest rate was largely unchanged Thursday morning. Meanwhile, U.S. oil prices fell about 1% Thursday morning, while West Texas Intermediate crude traded just above $ 102 per barrel. barrel.
First-time unemployment applications for the week of April 9 rose to 185,000, slightly higher than the forecast of 175,000. Meanwhile, retail sales missed out on Econoday estimates, rising 0.5% in March compared to the 0.6% estimate.
The stock market rally continues to struggle
On Wednesday, the stock market delivered a solid development, with the major stock indices ending with strong gains. Still, the Nasdaq is still below its 50-day limit. The moving average had been an important level of support, but has now become a potential area of resistance.
Wednesday’s The Big Picture column commented: “While the rally was encouraging as Wall Street geared up for Good Friday, the fact is that volume on the Nasdaq fell and early data also showed it lower on the New York Stock Exchange. It’s disappointing because large gains should come with good volume. “
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Dow Jones earnings: Goldman Sachs
Dow Jones investment bank Goldman Sachs reported better-than-expected quarterly results Thursday morning. The GS stock rose about 3% in morning trading. The stock ended Wednesday with more than a 20% discount at its highest level in 52 weeks.
On Wednesday, JPMorgan (JPM) fell more than 3% after missing earnings estimates. JPMorgan shares rose slightly early Thursday.
Four Dow Jones shares to see now
Dow Jones shares to buy and see: American Express
Dow Jones financial stock American Express tracks a cup-with-handle base showing a buy point of 194.45. AXP shares rose 0.4% Thursday morning.
Keep an eye on the stock’s relative strength line. In the midst of its recent ascent, the RS line is approaching its old heights, but there is a lot of work on the way ahead of a potential eruption. The RS line measures a share price development relative to the S&P 500. The RS line should reach a new high on the breakout day or shortly thereafter to confirm the strength of the share breakout.
Four Top Growth Stocks to Buy and View in Currrally in the stock market
Shares to buy and see: Edwards, Murphy, Raytheon, Shell
IBD Leaderboard Watchlist stock Edwards Lifesciences continues to move up the right side of a cup base showing a buyout point of 131.83. The share rose 0.9 pct on Wednesday. Monday’s weakness was probably the start of a leverage that would lower the risk-optimal entry to 125.21. EW shares rose 0.2% Thursday morning.
Murphy Oil tracks an increasing base with a buyout point of 43.30. After Wednesday’s rise of 1.85%, the shares are about 3% away from the most recent entry. MUR stocks boast a perfect 99 IBD Composite Rating according to the IBD Stock Checkup. Shares rose 0.3% early Thursday.
Defense contractor Raytheon Technologies is within striking distance of a flat base 104.44 buy points. Shares rose 0.75% on Wednesday, closing just for the most recent entry. The RTX stock rose 0.5% Thursday morning.
Oil and gas producer Shell, April 1 IBD Stock Of The Day, is in the buy range above a flat base 56.23 buy points after Wednesday’s rise of 1.9%. The purchase area of 5% goes up to 59.04. SHEL shares rose Thursday morning.
Join IBD experts as they analyze leading stocks in the current stock market rally on IBD Live
Tesla shares fell about 3% on Thursday after Wednesday’s 3.6% rise. Shares in the EV giant closed around 11% on Wednesday below a buy-with-handle buy point of 1,152.97.
The stock traded as high as 1,243.49 on November 4 and closed Wednesday around 18% away from the highest level ever.
Dow Jones executives: Apple, Microsoft
Among Dow Jones shares, Apple shares rose 1.6% on Wednesday, still just below a buy point of 176.75 in a double-bottom base. The stock is close to triggering the 7% -8% loss-reducing sales rule. Along with the double bottom entry, a handle buy point is also in play at 179.71. On the positive side, the AAPL stock regained its 50-day support level on Wednesday, which is a boost to the stock’s immediate prospects. The stock lost 0.6 percent on Thursday morning.
Software leader Microsoft rose 2% on Wednesday and got a three-day slippage. Shares remain below their 50- and 200-day lines. The stock is almost 20% lower than its 52-week high. MSFT shares fell 0.9% early Thursday.
Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones Industrial Average.
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