November 29, 2022

South Sudan News Agency

Complete English News World

Dow futures drop after market rally on Fed hopes; The Musk-Twitter saga is not over yet

Dow futures drop after market rally on Fed hopes;  The Musk-Twitter saga is not over yet

Dow futures declined early Wednesday, along with S&P 500 and Nasdaq futures, with Treasury and dollar yields rising. OPEC+ is expected to announce a larger production cut at today’s meeting.


The stock market’s bullish bid continued on Tuesday, as Treasury yields and the dollar tumbled amid hopes that the Federal Reserve might slow down interest rate hikes. TWTR stock jumps as Tesla CEO Elon Musk agrees to go ahead with $44 billion Twitter (TWTR) takes over.

But the Musk-Twitter saga isn’t over yet.

Major indicators are moving higher, but they have not regained key levels or confirmed a new bullish attempt yet.

Megacaps apple (AAPL), Microsoft (MSFT), a parent of Google the alphabet (The Google) And the (AMZNAll of them made strong gains. But only Microsoft stock closed above its 21-day moving average.

Still, the leading stocks offer reasons to tip their toes into the market, or at least prepare.

Arista Networks (Network), Energy Enphase (ENPH), Paylocation (PCTY), on semiconductors (on me) And the Devon Energy (DVN) All in or approaching early buy points. If the market rally continues to gain momentum, these stocks should be actionable. Everyone has Lines of relative force At or near altitudes.

Paylocity stock on IBD Leaderboard Watch List Tuesday’s stock was from IBD. Microsoft and Google stock on Long-term leaders of IBD existing. Enphase, On Semiconductor and DVN stock on List of 50 IBD. The stock of ENPH, Onsemi and Arista Networks is located in IBD Big Cap 20.

The video included in this article highlights market action on Tuesday and analyzes PCTY, On Semiconductor and . stocks Neurobiological Sciences (NBIX).

Dow jones futures contracts today

Dow futures were down 0.9% against fair value. S&P 500 futures fell 0.9%. Nasdaq 100 futures fell 0.85%.

The 10-year Treasury yield rose 7 basis points to 3.69%. The dollar also rose after falling over the past several days.

New Zealand’s central bank raised its key rate by 50 basis points overnight, after Australia raised rates by just 25 basis points the day before.

Crude oil futures fell on Wednesday after strong gains in the previous two sessions amid expectations of a cut in OPEC+ production quotas. OPEC+, which includes OPEC and allies such as Russia, is meeting this morning to discuss the size of a potential cut. There have been reports that OPEC+ may cut production quotas by about 1.8 million barrels per day.

Remember to work overnight in Dow Jones futures contracts and elsewhere that does not necessarily translate into actual circulation in the next regular session Stock market session.

Join IBD experts as they analyze actionable stock market actionable shares on IBD Live

Elon Musk says he’ll go ahead with Twitter deal

Musk agreed to move forward With Twitter’s $44 billion deal, valued at $54.20 per share.

See also  How to get as much as possible

The Musk-Twitter saga isn’t quite over. Twitter has not publicly accepted Musk’s latest terms, which make no real guarantees and include a request to suspend the upcoming trial.

Musk’s Twitter trial was set to begin on October 17, with the Tesla CEO being seen as very likely to lose.

As of now, pre-trial events are still ongoing. This includes Twitter’s lawyers who are set to fire Musk later this week.

However, Musk could officially own the social networking site in a few days.

Shares of Twitter, which was held for a long time on Tuesday, rose 22% to 52 as Musk slipped. While TWTR stock traded well below the $54.20 buyout price, it significantly outperformed parent Facebook. meta pads (dead) And the Explode, Explode (Explode, Explode) in the past months.

Tesla (TSLA) rose 2.9% to 249.44, pulling back from intraday highs of 256.89 following the latest Musk-Twitter news.

Investors may be wondering if Musk will sell TSLA shares to pay for the Twitter deal. He has already sold shares with the Twitter deal as the cause, but analysts estimate he may still need several billion dollars in TSLA sales.

In the long run, Tesla stock investors may fear Musk’s interest is split further from the EV giant as he adds Twitter to his portfolio of companies.

However, TSLA investors may be happy to make a fuss about Musk-Twitter in the past.

Twitter stock fell early Wednesday. TSLA stock fell 1%.

TSLA vs. BYD: China EV Giant Stretching Bullets Vs. Tesla

Tuesday’s stock market rally

The stock market rally followed Monday’s advance with solid gains on Tuesday, although major indexes retreated from intraday highs.

The Reserve Bank of Australia raised interest rates for the sixth consecutive month, but only unexpectedly by 25 basis points. This came on the heels of the Bank of England’s resumption of bond buying last week as the new British government’s budget disrupted the pound and UK debt.

The bid for a rally gained momentum at 10AM ET after a JOLTS report showed that job opportunities fell sharply in August, well below consensus. Federal Reserve Chairman Jerome Powell specifically referred to job openings as too high. While editorials and the number of workers leaving work remain high, the trend is Fed-friendly. On Friday, the Ministry of Labor will release September jobs report.

The Dow Jones Industrial Average rose 2.8% on Tuesday stock market trading. The S&P 500 jumped 3.1%. The Nasdaq Composite Index jumped 3.3%. Small cap Russell 2000 rose nearly 4%.

Shares of Apple rose 2.6%, while shares of Microsoft rose 3.4%. Both are members of the Dow Jones, S&P 500 and Nasdaq. Google stock jumped 3% while Amazon stock rose 4.5%. It all added to Monday’s solid gains, but it needs a lot of repair work.

See also  Dow futures drop 170 points to start the week with key inflation data and upcoming earnings

US crude oil prices rose 3.5% to $86.52 a barrel. OPEC+ meets on Wednesday, with reports that the organization may cut production by one to two million barrels per day.

Gasoline futures jumped 6.8%, indicating another increase at the pump. Natural gas futures rose 5.7%.

The 10-year Treasury yield fell 3 basis points to 3.62%, after falling 15 basis points on Monday. For the second day in a row, the 10-year bond yield found support at the ascending 21-day line.


between the Best ETFsThe Innovator IBD 50 ETF (fifty) gained 3.4%. iShares Expanded Technology and Software Fund (ETF)IGV) rose 3.8%, as MSFT stock was IGV Holdings Inc. VanEck Vectors Semiconductor Corporation (SMH) rose by 4.3%.

SPDR S&P Metals & Mining ETFs (XME) by 3.8%. US Global Gates Foundation (ETF)Planes) rose 7.1%. SPDR Specific Energy Fund (SPDR ETF)XLE) added 4.3%. SPDR Healthcare Sector Selection Fund (XLV) rose by 2.3%.

Shares reflect more speculative stories, the ARK Innovation ETF (see you) and the ARK Genomics ETF (ARKGBoth are up 7.6%. Tesla stock is one of the most important things that Ark Invest ETFs own.

Top 5 Chinese stocks to watch right now

Stocks near the points of purchase

ANET stock rose 4.3% to 120.81, reclaiming its 200-day and 50-day lines, although volume was light. A decisive move above the 50-day line is likely to break a short downtrend. Arista stock is working on 132.97 buy pips of consolidation within a much longer base.

ENPH stock rose 0.6% to 288.55, but is down from 297.67 on the day. At its highest levels, Enphase stock retraced the 50-day and 21-day lines and broke through a short downtrend.

PCTY stock rose 3.55% to 252.33, rebounding from the 50-day streak in solid volume. Paylocity stock is on trend line entry, with a move above the September 28 high of 253.26 as a potential specific trigger point. according to MarketSmith Analysis.

ON stock jumped 6.4% to 68.92, reclaiming the 50-day streak, although trading was slightly below average. More strength could be seen onsemi shedding a trend line inside a new consolidation alongside a previous deeper base.

DVN stock rose 5.7% to 69.07, up from 50 days ago as it works on cup base with handle And 75.37 buy points. Devon’s arrow approaches a trend line inside the handle.

IBD Digital: Unlock IBD Premium Stock Listings, Tools & Analytics Today

Market Rise Analysis

The stock market’s bull run continued, with strong gains again for the major averages. The Dow, S&P 500 and Nasdaq Composite rose above the 10-day moving average and approached the 21-day lines. The small-sized Russell 2000 kept driving and has already recovered 21 days.

See also  What is bitcoin whale watching and how to track bitcoin whale?

All indicators still have some distance to reach their descending 50-day and 200-day moving averages, with mid-August tops forming another major resistance area.

Megacaps like Apple stocks are doing their part this week, but they still have a long way to go.

However, the blue-chip stocks outperform the major indices, with many stocks cracking, flashing early entries or moving into position for potential entries.

It could be argued that the stock market was due to a rebound. Clearly, declines in Treasury yields and the dollar helped drive this week’s gains in stocks. But if yields and the dollar resume their bullish trend, the market rally could quickly fade away.

While stocks rise on hopes the Fed will slow the pace of rate hikes, markets continue to price a fourth 75 basis point hike in November and a half point move in December.

Tuesday was the second day of the stock market rally for the Dow, S&P 500 and Nasdaq indices. a Follow-up day It could come later this week to confirm the new uptrend.

Some would argue that the Russell 2000 and S&P MidCap 400 staged “follow-up days” on Tuesday. It is a positive sign, but it will not lead to a change in the direction of the market. why? The success rate of FTDs is low not including Dow Jones, S&P 500 and Nasdaq.

A confirmed market rally may only signal the beginning of a tradable bear market rally against a long-term uptrend. The 50 day and 200 day lines will be the key levels to watch after the FTD.

Time to Market with IBD’s ETF Market Strategy

What are you doing now

An attempt to rally in the stock market is gaining momentum, with a number of leaders making flashing buy signals. Investors can take some demo positions in some of the broad market stocks or ETFs. But anyone who jumps early should be prepared to jump at the same speed if the market recovery falters.

There is still nothing wrong with being almost or all cash.

But it is definitely a good time to work on your watch lists and pay close attention to the market. Look for high quality stock in action or soon.

Read The Big Picture Every day to keep up with the trend of the market, stocks and leading sectors.

Please follow Ed Carson on Twitter at Tweet embed For stock market updates and more.

You may also like:

View IBD stock listings and get pass/fail ratings for all of your stocks with IBD Digital

Do you want to get quick profits and avoid big losses? Try SwingTrader

Best growth stocks to buy and watch