Stocks in trouble after jobs data, Powell’s next speech

The Dow Jones Industrial Average fell on Wednesday as Wall Street digested ADP’s employment data and awaited another speech from Federal Reserve Chairman Jerome Powell. Intel (International Trade Centre) stocks plunged today after the company said its chip manufacturing plants would lose $7 billion in 2023.


The Dow Jones Industrial Average fell less than 0.1% in early trading, while the S&P 500 fell 0.1%. The tech-heavy Nasdaq index fell 0.3% after the opening bell.

The 10-year bond yield reached 4.41%. Elsewhere, oil prices also contributed to Tuesday’s gains, with West Texas Intermediate crude futures trading around $85.90 a barrel.

between us exchange traded fundsNasdaq 100 Tracker Invesco QQQ Trust ETF (QQ) fell 0.4%, while the SPDR S&P 500 ETF (spy) fell 0.2%.

Intel shares plunged 6.7% on Wednesday morning company disclosure In 2023, its chip manufacturing business suffered a loss of US$7 billion, widening from a loss of US$5.2 billion in 2022. Revenue from this business, known as the foundry business, fell 37% in 2023 to $18.9 billion.

Stocks Today: Jobs Data, Powell Speech

Before the market opened on Wednesday, ADP employment data showed that employment increased by 184,000 in March, above expectations of 150,000 and up from February’s 140,000.

Later in the day, Federal Reserve Chairman Jerome Powell will comment on the economic outlook at the Business, Government and Society Forum in Stanford, California. His speech is expected to be delivered at 12:10 p.m. ET.

Key earnings reports include Carl-Maine (calm) and Dave and Buster’s (Play).

Cal-Maine shares were up more than 5%, while Dave & Buster’s shares were up nearly 8% in early trading.

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

Dow Jones drops

On Tuesday, the Dow Jones Industrial Average fell 1%, the S&P 500 fell 0.7%, and the tech-heavy Nasdaq fell 1%.

Tuesday’s Big Picture Column Commented: “While the S&P 500 later attempted to regain some ground, it remains slightly above its 21-day exponential moving average. The Nasdaq also closed slightly above that level after spending most of the day below that level. “

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.

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The most noteworthy stocks in the stock market today

Google-Parents 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.

ServiceNow featured here Stocks near the buy zone bar.

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Dow Jones: Disney, IBM, Verizon

disney – The Dow’s Strongest Performing Stocks In the first quarter – extends beyond the 112.92 of the large cup base with handle buy someaccording to IBD market surges graph analysis. Shares moved further out of buy range, rising 1.1% on Tuesday.The company faces key shareholder vote The annual meeting is held on Wednesday. Shares were down 0.4% on Wednesday morning.

IBM stock remains below its flat bottom of 196.90, down 0.5% on Tuesday. Shares are trying to find support near the 50-day moving average. IBM stock fell slightly on Wednesday.

Telecommunications giant Verizon is establishing a cup base with a 43.21 entry point, with the stock bullish from its 50-day line. Verizon shares were up 0.3% on Wednesday morning.

4 Growth Stocks to Watch Stock market rebounds

Stock Market Today: Google About to Breakout

letter The 153.78 buy point was broken during the consolidation, although the stock fell 0.6% on Tuesday. Google shares fell 0.6% on Wednesday.

Arista stock price flat bottoms at 292.66 again buy someaccording to market surge On Tuesday, the stock fell 3%. The stock was slightly higher in early trading Wednesday.

last week, Draft king It fell below the 46.52 buy point during the short-term consolidation. The sports betting giant fell further below that buy point on Tuesday, falling 0.5%. DraftKings stock fell 0.9% on Wednesday morning.

Finally, ServiceNow found resistance at its 50-day line on Tuesday, falling 1.5%. The stock price established a flat bottom at 815.32 points. The stock fell 0.6% on Wednesday.

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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 April 1, 2024

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Seven major stocks: Nvidia, Tesla

One of the seven largest stocks, Nvidia (NVDA) and Tesla (Tesla) fell 0.6% and 1.7% respectively in early trading on Wednesday.

On Tuesday, Nvidia ended a two-day winning streak and fell 1%. IBD Ranking Stocks.

On Tuesday, Tesla failed to meet its first-quarter delivery target, sending its stock price plummeting 4.9%, and its stock price returned to near recent lows.

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 Wednesday.

Apple shares fell 0.7% on Tuesday, returning to recent lows. Shares remain well below the long-term 200-day line. The stock was slightly higher Wednesday morning.

Microsoft stock It fell 0.7% on Tuesday and remains above its 50-day moving average. The software giant is just off new highs. Earlier on Wednesday, the stock fell 0.4%.

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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