Powell’s comments on inflation data drive futures higher

The Dow Jones Industrial Average fell on Monday as Wall Street reacted to inflation data and comments from Federal Reserve Chairman Jerome Powell at the market close on Friday.Meanwhile, stocks fell today after Tesla raised Model Y prices in the U.S.


The Dow Jones Industrial Average fell 0.3% in early trading, while the S&P 500 rose 0.2%. The Nasdaq, which is dominated by technology stocks, rose 0.6% after the opening bell.

The 10-year Treasury yield edged higher to 4.27%. Elsewhere, oil prices paused after rising last week, with West Texas Intermediate crude futures trading around $83 a barrel.

between us exchange traded fundsNasdaq 100 Tracker Invesco QQQ Trust ETF (QQ) rose 0.6%, while the SPDR S&P 500 ETF (spy) rose 0.2%.

early Monday, Tesla (TeslaShares fell 0.5% after the company raised the price of all Model Y vehicles in the United States by $1,000.Next, analysts expect Tesla to report First quarter delivery quantity Tuesday.

The stock fell 2.3% on Thursday, ending a three-day streak of modest gains. The stock is testing its 50-day moving average, which is a key resistance level to watch. Tesla shares are still about 40% below their 52-week high.

Stocks Today: Inflation Data, Powell

Data released at the close on Friday showed that the personal consumption expenditures (PCE) price index rose 0.3% in February, below expectations of 0.4%. The 12-month headline inflation rate rose to 2.5%, in line with expectations.

The core PCE price index, which excludes food and energy prices, rose 0.3% in February, in line with expectations. The 12-month core inflation rate was 2.8%, in line with expectations, after January’s core inflation rate was revised up from 2.8%. % to 2.9%.

Also on Friday, Fed Powell Participated in a panel discussion at the Federal Reserve Bank of San Francisco. Powell said the Fed is in no rush to cut interest rates and needs to see lower inflation data before it can gain confidence in cutting interest rates. However, Powell said he was in no rush to cut interest rates. We don’t want to wait too long to cut interest rates, lest we cause unnecessary economic weakness.

Looking to the futureThe Labor Department’s March jobs report due out on Friday is expected to show employers added 180,000 payroll jobs during the month, including 157,500 private-sector workers, according to FactSet consensus estimates.

Additionally, major profit drivers this week include apparel brands PVH (PVH) and Levi Strauss (Levi), and payroll service providers salary (Alipay).

Be sure to read how to adapt to changing market conditions based on IBD’s new risk levels.

Dow Jones rises

On Thursday, the Dow Jones Industrial Average and the S&P 500 both rose 0.2%, with the S&P 500 hitting a new high; the Nasdaq, which is dominated by technology stocks, fell 0.1%; and the small-cap Russell 2000 index rose 0.5%.

Thursday’s Big Picture Column Comments: “Following Thursday’s gains, the S&P 500 is trading at all-time highs as the stock market rally continues to go strong. Despite the recent strength, IBD maintains its recommended exposure levels of 60%-80% , and given that the pullback is now unsurprising.”

Now is an important time to read IBD’s Big Picture Column As the stock market continues to rise. Be sure to read How to Adapt to Changing Market Conditions, New exposure levels for IBD.

Learn how to time the stock market with IBD’s ETF market strategy

The most noteworthy stocks in the stock market today

letter (Google), Arista Networks (Arnett), Draft king (East Ken NG) and Immediate service (Now) — plus Dow Jones constituents disney (DIS), International Business Machines Corporation (International Business Machines Corporation) and Verizon Communications (Wiz) – is one of the most noteworthy companies on the stock market today.

Google and DraftKings are both present at the event Stock bar near buy zone.

A great resource for daily breakthroughs is IBD MarketSurge “Today’s Outbreak” list. Market surge 250 Stocks that are breaking through new buying points. There was a new breakthrough on Thursday: Manulife Financial (micro fuel cell). The stock broke above a 24.89 buy point. The stock was trading slightly lower Monday morning.

Meanwhile, MarketSurge’s “Near Pivot Points” list shows the stock is close to a bottom buy point.

Get real-time buy and sell alerts from stock market leaders with the IBD Rankings

Dow Jones: Disney, IBM, Verizon

disney – Dow Jones’ strongest stocks in first quarter — Extends beyond 112.92 of cup base with handle buy someaccording to IBD market surges graph analysis. Shares closed further outside buy range on Thursday, rising 1.1%. Shares were down 0.3% on Monday morning.

Despite Thursday’s 0.1% gain, IBM stock remains below its flat bottom of 196.90 points. The stock fell 0.5% in early trading Monday.

Telecommunications giant Verizon is establishing a cup bottom with a 43.21 entry as the stock rebounds from key 50-day moving average support. Verizon shares fell 0.1% on Monday.

4 Growth Stocks to Watch Stock market rebounds

Stock Market Today: Google Breakout

Google parent company Alphabet edged higher on Thursday, quickly approaching a post-merger buy point of 153.78. On Monday, Google shares rose 2.5%, breaking through the entry point.

Arista shares abandon flat bottom of 292.66 buy someaccording to market surge The chart shows that during last week’s weakness. Wait for a decisive re-entry before considering buying. Arista shares rose 0.6% in early trading Monday.

last week, Draft king It fell below the 46.52 buying point during the short-term consolidation. The sports betting giant was down 1% on Monday morning, moving further below its entry point.

Finally, ServiceNow is trading at its 50-day line amid recent losses. Shares are building a flat base with an entry point of 815.32. ServiceNow shares rose 0.3% on Monday.

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Stocks to Watch

These are four stocks that are in or near buy territory in the stock market today.

Company Name symbol The right buying point Point of purchase type
disney (DIS) 112.92 cup with handle
Arista Networks (Arnett) 292.66 flat base
Draft king (East Ken NG) 45.62 merge
Immediate service (Now) 815.32 flat base
Source: IBD data as of March 27, 2024

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Top 7 Stocks: NVIDIA

Seven major stocks Nvidia (NVDA) rose 2% in early trading on Monday.

Nvidia edged higher on Thursday, snapping a two-day slide. Shares are down about 7% from their all-time high. Nvidia is a IBD Ranking Stocks.

Dow Jones Index leaders: Apple, Microsoft

among Dow Jones Stocks In the Seven Heroes, apple (AAPL) and Microsoft (Microsoft Corporation) mixed transaction After the stock market opens on Monday.

Apple shares fell 1.1% on Thursday, moving further below their long-term 200-day moving average. The stock fell 0.6% on Monday morning.

Microsoft shares have found support on the 50-day in recent weeks, setting new highs, but the stock has retreated from its current five-game losing streak, rising 1% in early trading on Monday.

Be sure to follow Scott Lehtonen on X (formerly Twitter): @IBD_SLehtonen Learn more about growth stocks, the Dow Jones Industrial Average and today’s stock market.

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