January 31, 2023

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Dow Jones fell before Powell’s speech Top 7 stocks to buy and watch

Dow futures fell slightly in extended trading ahead of Federal Reserve Chairman Jerome Powell’s speech on Tuesday. The Dow Jones Industrial Average rose as much as 305 points on Monday before reversing lower.




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Powell speech, inflation data, earnings

Federal Reserve Chairman Powell will deliver a speech at the Sveriges Riksbank International Symposium on Central Bank Independence in Stockholm, Sweden. His speech is scheduled to begin at 9 a.m. ET. Powell’s speech follows Friday’s jobs report That saw wage growth slow more than expected and workers logged fewer hours for the second month in a row. The data should allow the Federal Reserve to slow the pace of interest rate hikes.

Consumer inflation data is due Thursday morning. The consumer price index is expected to remain unchanged for December and rise 6.6% year-over-year, Econoday estimates. according to FedWatch CMETraders are placing a 77% chance of a 25bp rate hike at the next Fed policy meeting in late January/early February.

The 10-year Treasury yield fell to 3.51% on Monday, down for the second straight session.

Jeffries (JEF) reported profits that met estimates and sales that exceeded expectations. Jefferies shares lost more than 3% in the extended trade.

Other companies reporting later this week include: KB major (KBH), Taiwanese semiconductor industry (TSM), American bank (Buck), Citigroup (c) And Wells Fargo (WFC). Dow Jones stock c. B. Morgan Chase (JPM) And United Health Group (United nations) also this week.

stock market today

On Monday, the Dow Jones Industrial Average fell 0.3%, and the S&P 500 lost 0.1%. The Nasdaq Technology Composite Index rose 0.6%. in between Exchange money tradedNasdaq 100 Invesco QQQ Trust Tracker (QQQ(up 0.65% and the SPDR S&P 500 Index)spy) gradually to the bottom.

electric car giant Tesla (TSLA) up 5.9% on Monday. in between Dow Jones stockAnd an Apple (AAPL) gained 0.4% and Microsoft (MSFT) rose 1% in stock market today.

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monastery (DE), IBD Leaderboard Inventory ELF Beauty (dwarf), Rio Tinto (Rio) And IBD SwingTrader Inventory Super microcomputer (SMCI) – as well as the names of the Dow Jones Larva (Never), chevron (CVX) And Walmart (wmt) – among the top stocks to buy and watch as the market returns to bullish mode.

ELF Beauty is an app IBD Leaderboard Inventory. Super Micro is new The idea of ​​IBD SwingTrader. Caterpillar and Rio appeared In the last stock column near the buy zone for this week.


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Dow futures today: oil prices

Before the opening bell on Tuesday, Dow futures traded 0.3% below fair value, and S&P 500 futures fell 0.35%. Futures for the Nasdaq 100-heavy technology fell 0.4% against fair value. Remember to work in overnight Dow Jones futures contracts and elsewhere that does not necessarily translate into actual trading in the next regular session Stock market session.

US oil prices rose more than 1% on Monday, rebounding slightly from last week’s sharp losses. West Texas Intermediate futures traded at less than $75 a barrel.


IBD’s latest newsletter, MarketDiem, gives you actionable ideas for stocks, options and cryptocurrencies directly in your inbox.


What do you do in the new stock market rally?

Now is an important time to read IBD’s The Big Picture column With the stock market heading back to a “definite uptrend” after Friday’s strong gains in heavy volume, a stark departure from the recent move.

Friday’s positive action in high volume caused the IBD market outlook to turn into a fresh stock market rally. However, it is still an uncertain environment, and exposure should be increased in a measured manner. Investors should stick to 20% to 40% exposure for now.

(paying off IBD inventory listings Like the defect 50 And Stocks near the buy zonefor additional stock ideas.)

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Five Dow Jones stocks to buy and watch now


Dow Jones Stocks to Buy and Watch: Caterpillar, Chevron, Walmart

Dow Jones member Caterpillar remains range-bought just above the 239.95 buy point of the flat base after Monday’s drop of 0.9%, to me IBD MarketSmith Pattern Recognition. The buy zone rose to 251.95. To the upside, the stock’s RSI line, a major technical indicator, reached new highs.

CAT stock Shows 98 strong out of 99 perfect IBD composite classificationfor every IBD stock check. The composite rating is designed to help investors easily find the highest growth stocks.

The energy giant, Chevron, once again found strong resistance at the 50-day line, as it continues to build a cup base with a buying point of 189.78.

Retailer Walmart reversed 1.25% on Monday, falling below its 50-day line. The stock is building a cup with a handle that contains 154.74 buys and is about 6% away from the last entry.

Top stocks to buy and watch: Deere, ELF Beauty, Rio, Super Micro

Today’s latest stock from IBD Deere is building a flat base with 448.50 buy points. Shares are nearing their latest buy point, rising 0.4% on Monday.

IBD Stock Leaderboard ELF Beauty gave up a 57.03 flat entry amid Monday’s decline of 3.9%. Shares broke out in droves on Friday, indicating strong institutional demand for the leading cosmetics company. The 5% buy zone tops at 59.88 if the stock is able to re-enter.

Today’s latest stock from IBD Rio Tinto pared gains to just 0.1% on Monday, rising more than the cup with a 73.45 buy point for the handle. Buy zone reaches 77.13.

IBD SwingTrader Stocks Super Micro Computer is moving quickly to the right side of a short consolidation that has a 95.32 buy. The shares pared gains to 0.45% on Monday.

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Stocks to buy and watch as the new stock market goes up

These are the seven biggest stocks to buy and watch in the stock market today, including three Dow leaders.

The Company’s name Code The right point of purchase base type
monastery (DE) 448.50 Flat base
ELF Beauty (dwarf) 57.03 Flat base
Rio Tinto (Rio) 73.45 mug with handle
Super microcomputer (SMCI) 95.32 merge
Larva (Never) 239.95 Flat base
chevron (CVX) 189.78 cup base
Walmart (wmt) 154.74 mug with handle
Source: IBD data as of January 9, 2023

Join IBD experts as they analyze the leading stocks of the current stock market rally on IBD Live


Tesla stock

Tesla stock It rose nearly 6% on Monday, adding to the bullish reversal on Friday. Stocks are still sharply below the 50 and 200 day lines.

Last week, shares hit a 52-week low of 101.81. Tesla stock closed Monday up about 68% from its 52-week high.

Dow Jones leaders: Apple and Microsoft

in between Dow Jones stockApple shares rose 0.4% on Monday. Last week, the stock hit a new 52-week low of 124.17. The stock is still down nearly 20% from its 52-week high.

Microsoft stock rose 1% on Monday, adding to Friday’s gains. The software giant is about 30% off its 52-week high and is still far from its 52-week low of 213.43, reached on November 4.

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