Dow Jones rises with inflation data; 7 best stocks to buy and watch

The Dow Jones Industrial Average was up on Friday morning as a key inflation reading fell for the first time this year. For the week, the Dow Jones Industrial Average is set to break a streak of eight consecutive weeks of loss as the stock market continues to rebound. And after Thursday’s bullish gains, six major stocks to buy and see include Merck and Tesla Livent supplier.

Marvel Technology (MRVL), Ulta Beauty (ULTA), Workday (WDAY) and Zscaler (ZS) were the main gain drivers on Friday.

Shares of MRVL rebounded 6% after exceeding Wall Street estimates. ULTA shares rose 10% thanks to good first quarter results. Workday sold 7% after not estimating earnings. Zscaler shares rose 12% with better-than-expected results.

Electric vehicle giant Tesla (TSLA) was up 3% on Friday morning. Elsewhere, Dow Jones (AAPL) and Microsoft (MSFT) technology leaders rose about 1% each on the current stock market.

Amid a stock market rebound, Dow Jones leaders Chevron (CVX) and Merck (MRK), along with Livent (LTHM), Eli Lilly (LLY), Northrop Grumman (NOC), World Wrestling Entertainment (WWE) and ZIM Integrated Shipping (ZIM): These are among IBD’s main stocks to buy and watch on Friday.

WWE is a value of the IBD classification. Northrop is on IBD SwingTrader. And Livent appeared in the Stocks column near a shopping area this week.

Dow Jones Today: Treasury yields, oil prices, inflation data

After Friday’s opening, the Dow Jones Industrial Average was up 0.2%, while the S&P 500 was up 0.8%. The high-tech Nasdaq rebounded 1.3% in morning trading.

Among the funds traded on the stock exchange, the crawler of the Nasdaq 100 Invesco QQQ Trust (QQQ) rose 1.1%. The SPDR S&P 500 ETF (SPY) was up 0.7%.

The 10-year Treasury yield fell to 2.72% on Friday morning after closing at 2.76% on Thursday. On Tuesday, the 10-year Treasury yield reached its lowest level since mid-April. Meanwhile, US oil prices fell less than 1%, with West Texas Intermediate crude trading below $ 114 a barrel.

In the early hours of Friday, personal consumption spending, the Federal Reserve’s preferred inflation indicator, rose 4.9% in April, slower than the 5.2% rise in March. which could indicate that price increases are slowing.

Stock market meeting

The major stock indexes registered a more positive action on Thursday, as the high-tech Nasdaq rose 2.7%.

Thursday’s column The Big Picture commented: “The stock market ended on Thursday with a sharp rise in bullish action that left the S&P 500 and the Nasdaq on track to finally end the seven-week consecutive losses.”

If you’re new to IBD, consider taking a look at its stock trading system and CAN SLIM basics. Recognizing chart patterns is a key to investment guidelines. IBD offers a wide range of growth stock lists, such as Leaderboard and SwingTrader.

Investors can also create watch lists, find businesses near a point of purchase, or develop custom screens in IBD MarketSmith.

Five Dow Jones stocks to watch now

Dow Jones stocks to see: Chevron, Merck

Dow Jones leader and energy giant Chevron is trading just above 174.86 buying points on a flat basis, according to analysis by the IBD MarketSmith chart, after rising 0.7% on Thursday. The 5% purchase area reaches 183.60. CLC shares traded a fraction on Friday.

CVX’s stock has a perfect composite score of 99 IBD, according to the IBD stock review. Investors can use the IBD compound rating to easily measure the quality of the fundamental and technical metrics of a stock.

Merck, a stock of Dow Jones and IBD SwingTrader, returns to the buy range beyond the 89.58-point buyout of a cup with a handle, as shares fell 1.5% on Thursday. The 5% purchase area rises to 94.06. Shares of MRK fell 0.5% on Friday morning.

The stock market’s relative strength reached a new high this week, a strong indicator of stock market improvement during the current stock market rebound.

Four major growth stocks to see in the current stock market rally

Stocks to buy and watch: Livent, Eli Lilly, Northrop, WWE, ZIM

Lithium maker and Tesla Livent supplier outperformed an early buy point to 29.68, up 6.8% on Thursday. Livent shares, meanwhile, continue to rise on the right side of a cup base that has a conventional entry at 33.14. Be aware of possible handling to provide a more optimal entry for the risk. Shares of LTHM were up 3% on Friday morning.

Pharmaceutical giant Eli Lilly was up 2.1% on Thursday, closing the 314.10 point of purchase from a flat base. An advance purchase trigger at 309.54 was also surpassed on Thursday. Shares of Eli Lilly fell 0.2% on Friday.

The stock of IBD SwingTrader Northrop Grumman has no cup with the purchase point of 477.36 handle. The defense contractor is also rising above a trend line within its handling. This early entry is around 464. NOC shares were down 1% on Friday morning.

The shares of the IBD Leaderboard World Wrestling Entertainment are one of the most important actions to consider after closing on Thursday in a buy range above the 63.81 points of purchase of a flat base. The 5% purchase area amounts to 67.00. WWE shares rose more than 1% on Friday.

The leader of IPO ZIM Integrated is tracing a cup base that has a point of purchase of 79.05. The stock is 10% off the correct point of purchase. Pay attention to a handle to provide a more optimal entry for the risk. Shares of ZIM were up 1% on Friday.

Join IBD Experts as they analyze the main stocks of the current stock market rebound on IBD Live

Tesla stock

Shares of Tesla rose 7.4% on Thursday, adding to the 4.9% advance on Wednesday. Shares rose 3% Friday morning. Shares remain well below their 50- and 200-day moving averages.

Shares of Tesla traded up 1,243.49 on November 4. Shares are around 43% of this all-time high.

Dow Jones leaders: Apple, Microsoft

Among Dow Jones equities, Apple shares gained 2.3% on Thursday. Shares remain well below their 200-day long-term line. Shares of AAPL rose 1% on Friday.

Microsoft’s software leader rose 1.3% on Thursday, but remains well below its 50- and 200-day lines. Shares closed around 24% of their 52-week high. Shares of MSFT were up 0.8% on Friday.

Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more information on growth stocks and the Dow Jones Industrial Average.