Tech futures gain ahead of jobs report

The Dow Jones Industrial Average fell 175 points after the Labor Department released a strong January jobs report. Seven major stocks Amazon (Amazon), apple (AAPL) and meta platform (Mehta) was a big driver of profits on Friday, as Tesla shares fell on the recall news.


After the opening, the Nasdaq, which is dominated by technology stocks, fell 0.4% in early trading, the Dow Jones Industrial Average fell 0.45%, and the S&P 500 rose 0.1%.

between us exchange traded fundsNasdaq 100 index tracker Invesco QQQ Trust (QQ) rose 0.3%, while the SPDR S&P 500 ETF (spy) dropped a small amount.

The 10-year Treasury yield rose back to 4% on Friday after falling sharply recently. Elsewhere, oil prices extended this week’s severe losses, with West Texas Intermediate crude futures falling 0.7%. WTI futures remained above $73 a barrel.

Earlier on Friday, the Labor Department said the U.S. economy added 353,000 jobs in January, compared with 216,000 in December. The U.S. economy is expected to add 170,000 jobs, according to Econoday estimates. The unemployment rate held steady at 3.7%. Further gains are expected. 3.8%, compared with 3.7% in December.

Earnings Reports: Amazon, Apple, Meta Reports

Amazon reports quarterly results Earnings and revenue both beat estimates late Thursday. Amazon shares rose 7% in early trading.

Apple beats Wall Street’s targets Apple’s performance in the first fiscal quarter increased due to growth in iPhone 15 mobile phone sales and services. But Apple shares fell 2.3% in early trading due to lower sales in China.

meta report It posted a better-than-expected fourth-quarter profit and announced plans to pay a first-time dividend. Meta’s stock price surged 17% in response.

Other major profit drivers on Friday include atlas (team), Dex Outdoor (deck) and Skechers (SKX), and energy giants Chevron (CVX) and Exxon Mobil (XOM).

Atlassian Stock plunged 14%, while tex stock It rose more than 8% in early trading. Skechers Stock Shares fell more than 9% in Friday trading. Finally, Chevron rose nearly 2% and Exxon Mobil gained 0.9%.

Dow rebounds

On Thursday, the Dow Jones Industrial Average rose 1%, the S&P 500 rose 1.25%, and the tech-heavy Nasdaq rose 1.3%.

Thursday’s Big Picture Column Commented: “The index remains well above the 50-day moving average, which would be a reasonable area of ​​support if the market pulls back further. Meanwhile, the S&P 500 continues to have a massive distribution day at 7.”

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 best stocks to buy

Draft king (East Ken NG), KKR (KKR) and snowflake (Snow) — plus Dow Jones constituents Merck (MRK) and Walmart (WMT) – is one of the stocks worth buying and paying attention to during the current market rebound.

KKR and Walmart Featured content of the Stocks Near Buying Zone column.DraftKings is a IBD rankings Follow KKR Stock IBD Swing Trader.

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Dow Jones: Merck’s earnings rise

Based on Thursday’s gains, shares of drugmaker Merck are out of buy range, surpassing a cup bottom of 119.65 buy point IBD MarketSmith Pattern RecognitionShares were up 0.9% on Friday morning.

Shares of discount retail giant Walmart rose nearly 2% on Thursday and are currently in buy range, above 163.57 points. The stock fell 0.1% in early trading Friday.

4 Growth Stocks to Watch Stock market rebounds

DraftKings holds buy point

IBD Ranking Watch List Stocks DraftKings gained 4.1% on Thursday, closing further above its official double bottom buy point of 38.97. DraftKings stock fell 1.4% on Friday morning.

IBD SwingTrader Stock KKR rose 1.8% on Thursday, remaining above its 85.66 flat floor. The stock fell 0.3% on Friday morning.

Software leader Snowflake rose 2.2% on Thursday, but remained below its 202.83 buy point and was essentially flat. IBD Market SmithSnowflake shares rose 3.2% on Friday.

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Best bets for Friday’s match

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
Novo Nordisk (NVOCC) 105.69 flat base
Merck (MRK) 119.65 cup holder
Draft king (East Ken NG) 39.35 cup holder
Spotify (point) 202.88 flat base
Source: IBD data as of January 31, 2024

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Seven major stocks: Nvidia, Tesla

Seven major stocks Nvidia (NVDA) rose 2.5%, while Tesla (Tesla) fell 2.1% in early trading on Friday.

Nvidia shares rose 2.4% on Thursday, with shares essentially flat after breaking out on Jan. 8, above a 505.48 buy point for a gain of more than 20%. Shares hit more all-time highs.

Tesla shares rose 0.8% on Thursday, still near recent lows after falling on Wednesday.

Earlier Friday, the National Highway Transportation Safety Administration said Tesla is recalling Nearly 2.2 million vehicles have been recalled due to problems with their brake warning lights. The agency said the recall will be completed through an online software update.

Dow Jones Index Leader: Microsoft

among Dow Jones Stocks In the Seven Heroes, Microsoft (Microsoft Corporation) traded higher After the stock market opens on Friday.

Microsoft shares rebounded 1.6% on Thursday and remain in buy territory, above a 384.30 buy point, after rising 0.4% on 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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