The Dow Jones Industrial Average gained 130 points on Thursday, continuing a two-day rise in the stock market. Tesla’s shares fell on Thursday morning as it approached a crucial barrier level. For the Christmas holiday, the stock market will be closed on Friday. For more news of Dow Jones Industrial average news, continue reading the post below:
- Tesla (TSLA), the market leader in electric vehicles, fell 0.5 percent on Thursday. Rivian, a competitor, fell 0.2 percent.
- Lucid Group was trading at a loss of 0.5 percent. After Thursday’s open, Chinese EV leaders Li Auto and Xpeng Motors were down.
- Arista Networks, Icon (ICLR), and Mosaic (MOS) are among the best stocks to purchase and watch on Thursday.
- Investors should be cautious while making new acquisitions, given the stock market’s year-end volatility.
- IBD Leaderboard stocks include Icon, Microsoft, and Tesla.
- This week’s Stocks near a buy zone piece highlighted Arista.
- On Wednesday, the stock market continued to rally, with the main stock indexes building on Tuesday’s gains.
- The Nasdaq ended barely above its 50-day moving average, but a clear move higher from here would be more critical for the market outlook.
- Home Depot and Nike are two Dow Jones stocks to watch.
- The stock of Home Depot rose 1.3 percent on Wednesday, extending its winning streak to three days, as the home improvement retailer continues to recover from its 50-day support level.
- Apple and Microsoft are the Dow Jones leaders: Apple stock, part of the Dow Jones Industrial Average, made it two days in a row with a 1.5 percent increase on Wednesday.
Today on Dow Jones: Jobless Claims:
The Dow Jones Industrial Average increased 0.35 percent after the stock market opened on Thursday, while the S&P 500 gained 0.2 percent. In the early session, the Nasdaq composite, heavily weighted in technology, climbed 0.1 percent.
On Thursday, the Nasdaq 100 tracker Invesco QQQ Trust (QQQ) rose 0.1 percent, while the SPDR S&P 500 ETF (SPY) rose 0.2 percent. In other news, the 10-year Treasury yield rose to roughly 1.47 percent on Thursday morning, after closing at slightly under 1.46 percent the day before.
The Labor Department announced weekly unemployment claims of 205,000 on Thursday morning, down from 206,000 the week before and meeting Econoday expectations. Meanwhile, consumer expenditure increased 0.6 percent month over month, slower than the 1.3 percent growth in October.
Rally on the Stock Market:
The stock market continued to rise on Wednesday, with the main stock indexes building on Tuesday’s gains. The Nasdaq, which is heavily weighted in technology, ended barely above its 50-day moving average, a promising indicator, but a clear move higher from here would be more critical for the market outlook.
Despite its gains on Wednesday, the market is still precarious. During prolonged volatility and weakness, be extremely picky and only invest in equities with excellent fundamental and technical strength.
Home Depot and Nike are two Dow Jones stocks to keep an eye on:
The stock of Home Depot rose 1.3 percent on Wednesday, extending its winning streak to three days, as the home improvement retailer continues to recover from its 50-day support level. On a rebound from support, the stock is in a buy zone. Home Depot is the No. 2 Dow Jones performer in 2021, with a year-to-date return of 49 percent through Wednesday’s close, following only Microsoft’s 49.8% gain. On Thursday, HD stock rose 0.25 percent.
According to IBD Market-Smith chart analysis, Dow Jones retail leader Nike is drawing a new flat foundation with a purchase opportunity at 179.20. Following a 0.7 percent drop on Wednesday, stocks are battling to reclaim their 50-day line; the shares increased by 0.2 percent on Thursday.
The Dow Jones leaders are Apple and Microsoft:
Apple stock, part of the Dow Jones Industrial Average, made it two days in a row with a 1.5 percent increase on Wednesday. IBD MarketSmith chart analysis shows that the stock is roughly 15% above a 153.27 purchase mark out of a cup-with-handle base. On Thursday, the stock increased by 0.15 percent.
During Wednesday’s 1.8 percent advance, software giant Microsoft quickly reclaimed its 50-day line, putting the top Dow Jones stock in a new buy zone; the supply of Microsoft increased by 0.1 percent on Thursday.
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