The Dow Jones Industrial Average returned from early losses to rise on Wednesday, struggling to return after two consecutive days of losses. The earnings season starts with financial giants JPMorgan and Goldman Sachs reporting quarterly results. The 10-year government bond added to Tuesday’s loss. The US oil price rose to over $ 102 per barrel. barrel.
Dow Jones member JPMorgan (JPM) reported its quarterly results early Wednesday, while Goldman Sachs (GS) earnings are due Thursday morning. In the meantime Delta Air Lines (DAL) and Fastenal (FAST) also reported early Wednesday. Delta shares rose more than 4%. The FAST stock fell almost 2% in morning trading.
Among the Dow Jones executives, Apple (AAPL) increased 0.2%, and Microsoft (MSFT) rose 0.4% in today’s stock market.
Twitter (TWTR) rose about 3% while the electric car giant Tesla (TSLA) rose 0.5%, adding Tuesday’s gains.
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 (THAT ONE), Murphy oil (WALL), Raytheon technologies (RTX) and Must (SHEL) – is among Wednesday’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 Wednesday’s opening, the Dow Jones Industrial Average rose 0.4%, while the S&P 500 rose 0.35%. The technology-heavy Nasdaq rose 0.7% in morning trading.
Among exchange-traded funds, the Nasdaq 100 tracker Invesco QQQ Trust (QQQ) rose 0.7% and the SPDR S&P 500 ETF (SPY) rose 0.4% after Wednesday’s opening.
The 10-year US government interest rate snatched a seven-day winning streak on Tuesday and fell to 2.72% after briefly hitting its highest level since December 2018. The 10-year government interest rate ticked down to 2.69% on Wednesday morning. Meanwhile, US oil prices rose about 2% on Wednesday morning, while West Texas Intermediate crude traded above $ 102 per barrel. barrel.
The stock market rally continues to struggle
On Tuesday, the stock market showed another disappointing development with the large stock indices turning from solid gains to ending with modest losses. Nasdaq closed further below its 50-day line, which had been an important level of support to see.
Tuesday’s The Big Picture column commented: “As you can see from the daily chart, the tech-weighted index showed an outside day. That is, high and low on Tuesday’s trading day exceeded the high and low watermarks in Monday’s session. “Action pointed to uncertainty on Wall Street. And in periods of relatively mild weakness in equities, there is nothing that makes traders more hesitant to recharge on depressed equities than uncertainty.”
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Dow Jones Earnings: JPMorgan
Dow Jones banking giant JPMorgan reported its quarterly results Wednesday morning. The company missed earnings targets as JPM shares fell more than 3% in morning trading on Wednesday. The stock ended Tuesday with more than a 20% discount at its highest level in 52 weeks.
Financial rivals Citigroup (C), Goldman Sachs, Morgan Stanley (MS) and Wells Fargo (WFC) will report 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. The AXP stock traded unchanged on Wednesday 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 stock fell 0.5 percent. Tuesday. Monday’s weakness was probably the start of a leverage that would lower the risk-optimal entry to 125.21. EW shares rose 0.8% Wednesday morning.
Murphy Oil tracks an increasing base with a buyout point of 43.30. After Tuesday’s rise of 0.8%, the shares are about 5% away from the most recent entry. MUR stocks boast a perfect 99 IBD Composite Rating according to the IBD Stock Checkup. Shares rose more than 3% early Wednesday.
Defense contractor Raytheon Technologies is within striking distance of a flat base 104.44 buy points. Shares rose 0.5% on Tuesday and traded only 2% off the latest post. The RTX stock rose 0.7% on Wednesday morning.
Oil and gas maker Shell, the April 1 IBD Stock Of The Day, is just below a flat base’s 56.23 buy points after Tuesday’s 1.2% gain. The SHEL stock rose 2% on Wednesday morning, implying an early move back above the buying point.
Join IBD experts as they analyze leading stocks in the current stock market rally on IBD Live
Tesla shares rose 0.5% on Wednesday after Tuesday’s rise of 1.1%. Shares in the EV giant closed about 14% on Tuesday below a cup-with-handle buy point of 1,152.97.
The stock traded as high as 1,243.49 on November 4 and closed about 21% off the record high on Tuesday.
Dow Jones executives: Apple, Microsoft
Among Dow Jones shares, Apple shares rose 1.15% on Tuesday, 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 negative side, the AAPL stock gave up its 50-day support level on Monday, indicating that further weakness is likely. The stock rose 0.2 pct. Wednesday morning.
Software leader Microsoft fell a further 1.1% on Tuesday as shares fell further below their 50- and 200-day lines. The stock is almost 20% lower than its 52-week high. MSFT shares rose 0.4% early Wednesday.
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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