Dow Jones futures, S&P 500 futures and Nasdaq futures were little changed after the bell. Applied Materials (Amat) and Ross Store (Rost) is the main profit driver in the later period.
X
Stock market gains were mixed on Thursday, although the Nasdaq and S&P 500 posted modest gains on earnings-related selling. Cisco Systems (China Association for Science and Technology), Palo Alto Networks (Pan Wei) and Alibaba (Babe). Leading stocks performed better, but small-cap stocks suffered larger declines. U.S. Treasury yields retreated and crude oil futures fell.
Google Parent letter (Google) issued a buy signal on Thursday, while General Electric (General Electric) break out. Novo Nordisk (NVOCC) is being set.
On the downside, Tesla shares are trading at Tesla (Tesla) CEO Elon Musk made comments about X that many considered anti-Semitic.Meanwhile, it’s a tough day for electric vehicle stocks, including ideal car (LI), BYD (BYD Dongfeng) and Xiaopeng (electric car) retreated.
NVO stocks and Li Auto are both in IBD50.Novo Nordisk is on Thursday Daily IBD Stock.
Dow Jones Futures Today
Dow futures are slightly above fair value. S&P 500 futures edged higher, while Nasdaq 100 futures edged lower.
Remember what you did that night Dow Jones Futures and other places that won’t necessarily translate into actual transactions on the next regular basis stock market Meeting.
main profit
A late sell-off in AMAT stock showed the stock fell below its buy point. Applied Materials’ fiscal fourth-quarter profit topped expectations, while first-quarter guidance was above the midpoint consensus.But the chip equipment giant, which is reportedly under U.S. criminal investigation for evading China’s export restrictions, fell 0.4% to 154.81 on Thursday, a Reuters report at the close showed. double bottom base The buying point is 148.40.Applied Materials tops last week on strong October sales British Semiconductor (TSM),major client.
ROST stock rose strongly after the bell, showing it’s back above a buy point. Ross Stores’ profits topped expectations and the off-price clothing chain gave solid fourth-quarter guidance. Shares fell 3.1% to 120.15 on Thursday, back below the buy point of 122.80. flat base next to top dish patternRoss Stores stock likely reacts to weak guidance from Walmart and off-price peers on Thursday TJX Ltd. (Tian Jiaxing) early Wednesday.
gap (Global Positioning SystemThe company soared to 2023 highs overnight after the apparel retail giant reported strong third-quarter earnings, despite lackluster holiday guidance.
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Stock market rebounds
Stocks rebounded slightly lower for much of Thursday, but the major averages ended mixed.
The Dow Jones Industrial Average fell 0.1% on Thursday stock market tradingThe S&P 500 and Nasdaq rose 0.1%.
Although Cisco’s stock price plummeted 9.8%, Dow Jones giant Walmart’s stock price fell 8.1%, and Palo Alto’s stock price fell 5.4%, it did not have much impact. Arista Networks (Arnett), mass strike (CRWD) and Z scaler (ZS)Has not changed much. costco wholesale (cost) did drop slightly, but found support near the buy point before falling back to the lows.
when Microsoft (Microsoft Corporation) while Google shares rose nearly 2%.
Falling U.S. Treasury yields have provided some support for stocks, with the 10-year Treasury yield falling 9 basis points to 4.44% and down 18 basis points so far this week.
Still, market breadth is weak and losers can easily outnumber winners.
The small-cap Russell 2000 index fell 1.5% after hitting resistance at its 200-day line on Wednesday. Regional banks are the clear losers. Small energy companies also fell on lower oil prices. Still, the Russell 200 is up 4% so far this week.
U.S. crude oil prices fell 4.9% to $72.90 a barrel, their lowest closing price in four months.
A market pullback would be helpful, allowing leading stocks to form control points or other entry points after large moves.
ETF
Among growth ETFs, iShares Expanded Tech-Software Sector ETF (IGV) edged higher. VanEck Vectors Semiconductor ETF (SMH) 0.4%. AMAT stock is a noteworthy holding from SMH.
The ARK Innovation ETF reflects the more speculative story stocks (alke) fell 1.9%, with the ARK Genomics ETF (arkg) fell 2.2%. Tesla stock is the top holding of the Ark Invest ETF. Cathie Wood’s Ark holds a small stake in BYD stock.
SPDR S&P Metals & Mining ETF (XME) fell 0.5%. SPDR S&P Homebuilders ETF (Xin Hong) lost a small amount. Energy Select SPDR ETF (XLE) gave up nearly 2%, while the Healthcare Select Sector SPDR Fund (XLV) exceeds 0.4%.
Industrial Select Sector SPDR Fund (XLI) is slightly above the break-even point. GE stock is a noteworthy XLI component.
Financial Select SPDR ETF (XLF) rose 0.4%, but the SPDR S&P Regional Bank ETF (Korea Real Estate Association) gave up 1.3%.
The five best Chinese stocks to watch right now
Stocks near buy point
Google shares rose 1.7% to 136.93, decisively breaking through the 50-day line and crossing the short-term trend line within the flat bottom. This provides an early entry opportunity. According to the data, the official buy point for GOOGL stock is 141.22 market smith.
Late Thursday, The Information reported that Google would delay the release of its Gemini AI, a competitor to OpenAI’s ChatGPT, to early 2024.
GE shares rose 2.3% to 118.94, breaking through the 117.96 flat bottom buy someTrading volume is light, and there has been little investment in recent weeks.
NVO stock price rose 3.2% to 99.53, rebounding from the 50-day line and regaining the 21-day line. The weight-loss drug giant is expected to close flat on Friday. The official buying point is 104. Investors can use a short, downward sloping trendline as an early entry point, around the 100 level.
Elon Musk’s X Factor
Elon Musk endorsed a post late Wednesday that said Jews incite hatred against white people and supported allowing “minority groups” into the United States, echoing a long-standing anti-Semitic trope. Musk responded on his social networking site X (formerly Twitter), “You told the truth.”
Musk’s comments were condemned as anti-Semitic by many, including some long-time, high-profile Tesla bulls.
Tesla stock investors worry that Musk is tarnishing the Tesla brand that is so closely tied to his personal image, which could hurt demand and prices.
In a related note, International Business Machines Corporation (International Business Machines Corporation) suspended advertising on X after reports surfaced that the social networking site was advertising for IBM. apple (AAPL), Oracle (ORCL) alongside many other pro-Nazi posts.
Tesla Stock
Tesla shares fell 3.8% to 233.59 on Thursday, falling back below the 50-day moving average. Prior to this, Tesla’s stock price rose 15.6% for four consecutive days, which was above average, bringing Tesla’s stock price back above the 200-day and 50-day moving averages.
Tesla stock is trading to the right of a double bottom with a buy point of 278.98. The downward sloping trendline currently near 255 may provide early entry opportunities.
Shares were slightly lower overnight.
Tesla vs. BYD: Electric car giants compete for the crown, but who is more worth buying?
Chinese electric car rivals
Li Auto’s stock price reversed 4.1% to 38.87 on Thursday.This comes after breaking above 40.14 points in early trading buy some The maker of extended-range electric vehicles will begin pre-orders on Friday for its first all-electric vehicle, the MEGA minivan.
Shares of Chinese electric vehicle and battery giant BYD fell 1.7% to 31.76, back near an aggressive entry. Investors should now look for early entry at 32.76 or 32.80. BYD will also have several key events on Friday, the launch of the car’s launch.
Xiaopeng (electric car) fell 6.7% to 16.23, retreating from close to an aggressive entry to close below its 50-day line. Xpeng Motors’ shares reversed higher on Wednesday despite weaker-than-expected third-quarter results.
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what to do now
During market pauses, leading stocks often hold up well after a sharp rise. Not many stocks issued buy signals Thursday. A slight pullback in the market could create substantial buying opportunities, but that has not happened yet.
Basically there’s nothing wrong with maintaining your current exposure, which can be quite heavy. After working hard after a new market rally forms, you can make your money work for you.
Be sure to keep updating your watch list for emerging new leadership, stocks trying to build handles, and more.
read overall view Stay up to date with market direction and leading stocks and industries every day.
Follow Ed Carson on X/Twitter: @IBD_ECarsonThe thread is located at @edcarson1971 With the blue sky @edcarson.bsky.social Get stock market updates and more.
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