The Dow Jones rises as Salesforce gains 14% in earnings

The Dow Jones Industrial Average was up on Wednesday morning, looking to extend the market uptrend in June after Tuesday’s break. Salesforce (CRM) rose with better-than-expected earnings results. Meanwhile, US Treasury yields and oil prices continued to rise.

In terms of earnings, Ambarella (AMBA) and HP (HPQ) were the main drivers after reporting on Tuesday afternoon. Ambarella fell 6%, while HPQ shares rose nearly 3%. Meanwhile, market information and credit rating leader S&P Global (SPGI) fell 10% after suspending its previously issued guidance due to market volatility.

Electric vehicle giant Tesla (TSLA) rose 1% on Wednesday morning. Elsewhere, Dow Jones (AAPL) and Microsoft (MSFT) technology leaders were moderately higher on the current stock market.

Amid a stock market rebound, Dow Jones leaders Chevron (CLC) and Merck (MRK), along with Albemarle (ALB), 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 Wednesday.

Albemarle and WWE are shares of the IBD classification. And Albemarle appeared in this week’s Stocks Near A Buy Zone column. ZIM was the prominent IPO leader last week.

Dow Jones Today: Treasury yields, oil prices

Following Wednesday’s opening, the Dow Jones Industrial Average was up 0.3%, while the S&P 500 was up 0.5%. The Nasdaq technology compound advanced 1% in morning trading. Among the funds traded on the stock exchange, the crawler of the Nasdaq 100 Invesco QQQ Trust (QQQ) rose 1%. The SPDR S&P 500 ETF (SPY) rose 0.4%.

The 10-year Treasury yield extended its gains on Tuesday, rising to 2.84% on Wednesday morning. Last week, 10-year Treasury yields hit their lowest level since mid-April, but are now recovering. Meanwhile, U.S. oil prices rose more than 2 percent as West Texas Intermediate crude traded above $ 117 a barrel.

The market could see some impact from a pair of manufacturing gauges coming out right after the opening of Markit and the Institute for Supply Management. The May manufacturing PMI stood at 57.0, lighter than the consensus estimate of 57.5.

New York Federal Reserve Bank President John Williams and St. James Fed Chairman James Bullard Louis, talk at 11:30 am ET and 1:00 pm ET, respectively. The Federal Reserve publishes its beige book report for May at 2 p.m. ET.

Stock market meeting

On Tuesday, the main stock indexes showed modest losses, as the highly technological Nasdaq compound lost 0.4%. Industrial Dow Jones and S&P 500 fell 0.6% and 0.7%, respectively.

Tuesday’s column The Big Picture commented: “What makes the action especially unusual? On Friday, the Nasdaq met the criteria for a follow-up for a second straight session. In fact, this is more favorable than watching the market hit a wall of sellers, so shortly after confirmation that at least a short-term trading opportunity has appeared.And given the great damage observed among the former leaders of technology, retail, “Medical technology and other sectors can probably be a long time before investors see a strong chance of a break between the stocks that carry most, if not all, of the features of CAN SLIM.”

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.

Dow Jones Earnings: Salesforce

Late Tuesday, Salesforce reported better-than-expected quarterly earnings and sales results. The company also posted a prospect that fell short of expectations.

CRM shares rose more than 11% early Wednesday. Shares ended Tuesday with a nearly 50% discount in their 52-week high.

Five Dow Jones stocks to watch now

Dow Jones stocks to see: Chevron, Merck

Dow Jones leader and energy giant Chevron is trading just below 174.86 buying points on a flat basis, according to analysis by the IBD MarketSmith chart, after falling 2% on Tuesday. The 5% purchase area reaches 183.60. CLC shares rose 1.4% on Wednesday.

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 Dow Jones stock, is still in the buy range beyond 89.58 points of buying a glass with a handle, as shares fell 1.1% on Tuesday. The 5% purchase area rises to 94.06. Shares of MRK lost 0.5% on Wednesday morning.

The stock market’s relative strength reached a new high last 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: Albemarle, Eli Lilly, Northrop, WWE, ZIM

Albemarle is approaching the point of purchase of a cup base at 291.58, according to analysis by the IBD MarketSmith chart. Watch out for a possible handle to offer a lower entry. Last week, Albemarle surpassed an early buy point close to 248. ALB shares fell 3% on Wednesday morning, to extend Tuesday’s losses.

Pharmaceutical giant Eli Lilly fell 3.1% on Tuesday, falling below 314.10 points on a flat base after a brief break on Friday. It surpassed an advance purchase trigger at 309.54 last week. Shares of Eli Lilly fell 0.% on Wednesday.

Northrop Grumman has no cup with the 477.36 point of purchase of the handle, as it finds support around its 50-day key line. The defense contractor is also rising above a trend line within its handling. This early entry stands at around 464. NOC shares rose 0.6% on Wednesday morning.

The existence of IBD Leaderboard World Wrestling Entertainment is one of the most important actions to consider after it closed on Tuesday only in the purchase range above the 63.81 points of purchase of a flat base. The 5% buying area rose to 67. WWE shares rose more than 1% on Wednesday.

The leader of IPO ZIM Integrated is tracing a cup base that has a point of purchase of 79.05. Shares are about 15% of the correct point of purchase after Tuesday’s stumble. A potential handle could now be forming. Shares of ZIM rose 1.2% on Wednesday.

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

Tesla stock

Shares of Tesla were down 0.2% on Tuesday, breaking a three-day winning streak. Shares appeared to be recovering from those losses, up 1% on Wednesday morning. Despite last week’s gains, stocks remain well below their 50- and 200-day moving averages.

Shares of Tesla traded up 1,243.49 on November 4. Shares are around 40% of this all-time high.

Dow Jones leaders: Apple, Microsoft

Among Dow Jones equities, Apple shares lost 0.5% on Tuesday. Shares remain well below their 200-day long-term line. Shares of AAPL rose 1% on Wednesday.

Software leader Microsoft fell 0.5% on Tuesday and remains well below its 50- and 200-day lines. Shares closed around 22% of their 52-week high. Shares of MSFT were up 1.7% on Wednesday.

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