The Dow Jones Industrial Average reversed lower on Friday after key housing data as the Commerce Department brought forward housing starts and permits.Meanwhile, seven of the best stocks to buy and watch include software giant Microsoft (Microsoft Corporation) and Amazon (Amazon).
Earlier Friday, housing starts rose to an annual rate of 1.372 million units in October from 1.358 million units in September. The annualized growth rate is expected to drop to 1.35 million units. Permits rose to 1.487 million units in October, compared with 1.473 million units in September. Growth is expected to slow to 1.463 million units.
AMAT shares fell more than 7%, and Beazer Homes shares fell 1.4% in early trading. BJ shares fell about 4%, while Copart shares rose more than 3%. Finally, Gap surged 18% and Ross Stores gained nearly 7%. Early trade.
Dow Jones Today: Oil Prices, Treasury Bond Yields
After trading opened on Friday, the Dow Jones Industrial Average fell slightly and the S&P 500 fell 0.1%. The tech-heavy Nasdaq fell 0.2% in early trading.
On Friday morning, the U.S. 10-year Treasury yield edged lower to 4.43%. On Thursday, the benchmark rate closed at 4.44%.
Oil prices rebounded after three consecutive losses, with West Texas Intermediate crude futures rising more than 1%. WTI prices are trading around $74 a barrel, their lowest levels since early July.
Stock market rebounds
On Thursday, the Dow Jones Industrial Average fell more than 0.1%, while the S&P 500 gained 0.1%. The tech-heavy Nasdaq rose 0.1%. But the small-cap Russell 2000 index fell 1.5%. The index was trading at its 200-day moving average on Wednesday.
Thursday’s Big Picture Column The commentary said, “On Thursday, stock indexes mostly closed near their intraday highs and ended mixed. The limited price fluctuations are a good sign and indicate that institutional investors are not in a hurry to take profits from the November rebound.”
Now is an important time to read IBD’s Big Picture Column After the recent rally, be sure to read how to invest as the stock market continues to rise.
Stock market today: The most noteworthy stocks
IBD rankings Stock Amazon, and free market (Melly), IBD Swing Trader in stock Shopping (shop) and toll brothers (Thor)—and Dow Jones stock Microsoft, sales force (customer relationship management) and UnitedHealth (united nations institutes of health)—is one of the most noteworthy stocks in the current market rebound.
Dow Jones Stocks to Watch
Software leader Salesforce approaches 228.79 buy some According to, in the double bottom base IBD Market Smith graph analysis. CRM stock is about 3% away from its latest buy point. Shares were slightly lower early Friday.
Healthcare giant UnitedHealth is adding a handle on massive consolidation and showing a new buy point at 546.78. UNH shares fell 0.3% on Friday.
Stocks to buy and watch: Shopify breaks out
In Thursday’s modest decline, Amazon fell further below its cup bottom buy point of 145.86. Shares remain above the early entry point of 134.48. AMZN shares rose 0.1% on Friday.
IBD SwingTrader Stock Shopify is trying to break above the 67.60 double bottom buy point. The highest price in the buying zone is 70.98. SHOP shares were up 0.2% on Friday morning.
Homebuilder Toll Brothers will be a stock to watch with housing data due out today. After Tuesday’s breakout, the stock remains in buy territory, above the handle cup’s 82.39 buy point. The buy zone rises to 86.51. TOL shares were up 0.5% on Friday morning.
The best stocks on today’s stock market trend
Here are four of the most interesting stocks to watch in the stock market today, including the leader of the Dow Jones.
|Company Name||symbol||The right buying point||Point of purchase type|
|UnitedHealth||(united nations institutes of health)||546.78||Process entries|
|toll brothers||(Thor)||82.39||cup with handle|
|free market||(Melly)||1,398.59||cup with handle|
Source: IBD data as of November 16, 2023
Seven major stocks: Nvidia, Tesla
Graphics chip giant Nvidia (Nvidia) rose 1.2% on Thursday and has now entered the buying range of a double bottom of 476.09 points.
Tesla Stock It fell nearly 4% on Thursday, snapping a three-day winning streak. After reclaiming its 200-day moving average earlier this week, shares are facing strong resistance near the 50-day moving average. TSLA is down about 20% from its 52-week high.
Dow Jones Index leaders: Apple, Microsoft
two Dow Jones Stocks In the Seven Heroes, apple (AAPL) and Microsoft (Microsoft Corporation), the transaction price is lower After the stock market opens todayApple shares rose 0.9% on Thursday, closing at their highest level since August 5. Shares are trading above an early entry of 182.34 as they continue to track consolidation with a 198.23 buy point. Apple shares fell 0.1% on Friday.
Microsoft shares rose 1.8% on Thursday, hitting a record high of 376.35. The stock is above Cup Base’s 366.78 buy point and is within buy range. In recent weeks, shares have risen to an early buy trigger of 346.20. MSFT shares fell 1.2% Friday morning.
Be sure to follow Scott Lehtonen on X (formerly Twitter): @IBD_SLehtonen Learn more about growth stocks and the Dow Jones Industrial Average.
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