The Dow Jones Industrial Average briefly fell 150 points following the European Central Bank’s rate hike, the bank’s first rise in more than a decade. Tesla shares rose with good second-quarter results.
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Alcoa (AA), AT&T (T), CSX (CSX), Discover Financial (DFS), Las Vegas Sands (LVS), Steel Dynamics (STLD), Travelers (TRV) and United Airlines (UAL) were other major generators of gains after Thursday open.
Shares of Alcoa and Steel Dynamics rose 4% and 1%, respectively, in the first operations. AT&T shares fell 7%. CSX shares gained 3%. Discover Financial fell 7%. Las Vegas Sands rose 1.6%. The travelers slowly descended. And United Airlines fell 7%.
Chevron (CLC) led the falls among Dow Jones shares, hovering more than 2% down as oil prices fell sharply due to news of inventories.
Tesla (TSLA) rose about 6% early Thursday. Elsewhere, Dow Jones Apple (AAPL) technology leaders rose 0.6% and Microsoft (MSFT) fell 1% after the stock market opened today.
In a volatile upward trend of the stock market, the leaders of Dow Jones, Merck (MRK) and UnitedHealth (UNH), as well as Dollar Tree (DLTR), Lantheus (LNTH), Quanta Services (PWR) and Verra Mobility (VRRM), are among the actions. watch. Keep in mind that while the market has shown growing signs of strength, continued volatility is a reason to remain cautious.
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Lantheus and UnitedHealth are shares of the IBD classification. Dollar Tree is a stock of IBD SwingTrader. Verra appeared in the Stocks column near a buying zone this week and was the IBD Stock of the Day on Monday.
Dow Jones today: Treasury yields, oil prices, unemployment claims
After Thursday’s opening, the Dow Jones Industrial Average fell 0.25%, while the S&P 500 was down 0.1%. The Nasdaq technology compound rose 0.2% in morning trading.
Among the funds traded on the stock exchange, the crawler Nasdaq 100 Invesco QQQ Trust (QQQ) added 0.2%. And the SPDR S&P 500 ETF (SPY) fell 0.1%.
Markets in Europe fell after the European Central Bank raised rates by 50 basis points. Expectations were an increase of 25 to 50 basis points, although bankers had considered a rise of more than 50 points. The increase is the bank’s first in 11 years. The ECB’s target deposit rate has been in negative territory since 2014.
The U.S. 10-year Treasury yield rose to 3.07% Thursday morning, looking to add to a three-day winning streak that saw the 10-year yield close at 3.03% on Wednesday. Meanwhile, US oil prices fell sharply and fell more than 4% in the first measures. West Texas Intermediate futures fell to around $ 95 a barrel after Wednesday’s data showed U.S. gasoline stocks rose, suggesting consumers were tired of high prices.
Early Thursday, the Labor Department said unemployment claims for the first time rose to 251,000 from 244,000 the previous week. Econoday estimates expected initial unemployment claims to drop to 240,000.
Stock market meeting
On Wednesday, the stock market registered a solid stock, as the Nasdaq came out better with a rise of 1.6%.
Wednesday’s The Big Picture column commented: “The major indices closed on the rise on Wednesday, as the current stock market rally maintained its momentum. investor sentiment “.
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Dow Jones Earnings: Travelers
The insurance giant Dow Jones Travelers initially rose more than 4%, then faded to a 0.4% drop after reporting early earnings and better-than-expected sales results on Thursday. was expected.
Shares ended Wednesday with a 15% discount in their 52-week high.
Five Dow Jones shares to watch now
Dow Jones shares to watch: Merck, UnitedHealth
Shares of Merck Drugs fell nearly 3% on Wednesday, giving up support around its 50-day line. Shares are getting closer to activating the 7% to 8% loss reduction rule from the 95.02 point of purchase of a flat base, according to the analysis of the IBD MarketSmith chart. Shares of Merck were down nearly 1% on Thursday.
Health insurance giant and IBD UnitedHealth rating shares are just above 518.80 points of purchase of its double-bottomed base with handle after falling 2.6% on Wednesday . Shares were down 0.8% on Thursday.
The existence of the UNH shows a strong 96 out of a perfect 99 IBD composite rating, according to the IBD stock review. Investors can use the IBD composite rating to easily measure the quality of the fundamental and technical metrics of a stock.
The 4 most important growth stocks to see in the current stock market rebound
Main actions to see: Dollar Tree, Lantheus, Quanta, Verra
Shares of IBD SwingTrader, Dollar Tree, are gaining ground above the 166.45 buy point of their cup with handle and are at the top of the buy range. Another positive note is the discount line’s RS line of discounts, which hit a new high last week. Dollar Tree shares show a strong 97 on the best possible 99 IBD composite score, according to the IBD stock check. Shares of Dollar Tree lost 0.8% on Thursday.
The existence of the IBD Lantheus rating exceeds the buy point of 73.88 as it recovers from support around its 50-day line. According to the rating table comment, Lantheus has proven to be one of the strongest stocks on the market right now after coming out of a double-bottomed base in February. Shares of Lantheus fell 0.7% early Thursday.
Quanta Services is giving the final touches to a cup base with a handle that has a point of purchase of 138.56, according to the analysis of the IBD MarketSmith chart. Shares are about 5% away from the last entry after Wednesday’s 0.9% rise. Shares slowly fell in the morning trading.
Verra Mobility is trying to outperform a cup with the 16.83 point of purchase of the handle, but closed below the point of purchase on Wednesday amid a 2.65% drop. The RS line of stocks continues to show great strength as it reached another new high this week. Shares of Verra fell 0.1% Thursday morning.
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Tesla stock
Shares of Tesla rose 0.8% on Wednesday, extending a winning streak to six sessions. Shares rose more than 6% Thursday morning after the company reported better-than-expected second-quarter earnings on Wednesday afternoon.
Tesla said adjusted earnings rose 57% to $ 2.27 per share. Revenue rose 42% year-over-year to $ 16,934 million. The company’s presentation pointed to a deterioration in Bitcoin, but gave no details. He said that by the end of the second quarter, he had converted approximately 75% of his Bitcoin purchases into fiat currency, adding $ 936 million in cash to his balance sheet.
Dow Jones leaders: Apple, Microsoft
Among Dow Jones shares, Apple shares rose 1.35% on Wednesday and closed their 200-day long-term lines. Shares regained their 50-day line after bullish action in recent weeks. Apple’s earnings are due to be released on July 28th. Shares rose 0.6% Thursday morning.
Microsoft rose 1.1% on Wednesday, trying to overcome resistance around its 50-day line. Shares closed around 26% of their 52-week high. The software giant will report quarterly results on July 26th. Shares of Microsoft fell 1% early Thursday after Bloomberg reported that the company is downsizing open jobs, including in its Azure cloud business due to a weakening economy.
Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more information on growth stocks and the Dow Jones Industrial Average.
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