The Dow Jones Industrial Average dropped 75 points Wednesday, arsenic Lucid Motors and Rivian skidded successful greeting trade. Tesla banal rose, extending Tuesday's gains. And Nvidia net are owed aft the banal marketplace close.
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Among the Dow Jones leaders, Apple (AAPL) roseate 0.5%, portion Microsoft (MSFT) mislaid 0.1% successful today's banal market. American Express (AXP), JPMorgan Chase (JPM) and Nike (NKE) continue to commercialized adjacent new bargain points successful the existent rally.
Among the electric-vehicle leaders, Tesla (TSLA) roseate astir 1% Wednesday, while Rivian (RIVN) moved down astir 9%. Lucid Motors (LCID) skidded astir 5% aft giving up large premarket gains. And Xpeng Motors (XPEV) remains supra a caller bargain point.
Lowe's (LOW) and Target (TGT) posted net results up of Wednesday's open.
Among the apical stocks to bargain and watch, Alphabet (GOOGL) and Shopify (SHOP) are successful oregon adjacent bargain zones.
Microsoft and Tesla are IBD Leaderboard stocks. Xpeng Motors was featured successful this week's Stocks Near A Buy Zone story.
Dow Jones Today
After the banal marketplace unfastened Wednesday, the Dow Jones Industrial Average dropped 0.2%, portion the S&P 500 moved down 0.1%. The tech-heavy Nasdaq composite besides mislaid 0.1% successful aboriginal trade.
Among exchange traded funds, the Nasdaq 100 tracker Invesco QQQ Trust (QQQ) roseate 0.1%, and the SPDR S&P 500 ETF (SPY) slipped 0.1% successful greeting trade.
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Stock Market Rally
The banal marketplace continued to rebound from past week's losses, arsenic the Nasdaq and S&P 500 logged coagulated gains. Both indexes are present conscionable disconnected caller highs.
On Tuesday, The Big Picture commented, "On Tuesday, the Nasdaq composite led the wide advance. A astir 0.8% summation to 15,973 puts the tech-enriched scale wrong an arm's grasp of its all-time precocious of 16,053."
For regular banal marketplace commentary, beryllium definite to cheque retired IBD's The Big Picture.
Right now, the existent pullback is normal, truthful investors person bully origin to stay upbeat astir the wellness of the uptrend. Breakouts successful apical maturation stocks stay just game. And ticker for stocks that are holding up the champion during this week's weakness; going forward, they could proceed to beryllium immoderate of the market's leaders.
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Dow Jones Stocks To Buy And Watch: Amex, JPMorgan, Nike
American Express ended Tuesday successful bargain scope past a 178.90 introduction successful a cup with handle, according to IBD MarketSmith illustration analysis. Shares traded down 0.1% Wednesday.
Meanwhile, JPMorgan remains successful the 5% bargain portion past a 163.93 introduction successful a cupful with handle. The 5% bargain country tops retired astatine 172.13. Shares are again looking for enactment astatine their cardinal 50-day line. JPM banal traded 0.2% little Wednesday.
Dow Jones retail person Nike remains squarely beneath its cupful base's 174.48 bargain constituent amid Wednesday's flimsy autumn aft the opening bell.
Stocks On The Move: Boeing, Visa
Airplane shaper Boeing (BA) rallied astir 2% Wednesday aft India's Akasa Air placed a $9 cardinal bid for 737 Max airplanes. Wells Fargo besides upgraded the banal from equal-weight to overweight with a 272 terms target.
Visa tumbled much than 5% Wednesday aft Amazon (AMZN) said it would halt accepting U.K.-issued Visa recognition cards owed to precocious fees. Visa shares closed Tuesday astir 15% from their 52-week high.
Stocks To Buy And Watch: Alphabet, Shopify
IBD Sector Leader Alphabet remains conscionable supra a 2,925.18 buy point in a flat base, according to IBD MarketSmith illustration analysis, pursuing Tuesday's flimsy fall. The 5% bargain area runs up to 3,071.44, truthful the banal is successful bargain range. Shares were up 0.1% Wednesday.
IBD Stock Checkup shows GOOGL stock with a beardown 97 retired of a cleanable 99 IBD Composite Rating. The IBD Composite Rating identifies stocks with a blend of beardown cardinal and method characteristics.
On Friday, Shopify stock broke retired past a 1,650.10 bargain constituent successful a consolidation with a more-than-12% surge. Shares are successful the 5% bargain area goes up to 1,732.61. The banal was down 1% Wednesday.
Stock Market Earnings: Lowes, Target
Home-improvement elephantine Lowe's topped third-quarter estimates Wednesday. LOW stock jumped astir 3% successful greeting trade, hitting caller highs astatine the marketplace open. Shares are extended past a 215.32 bargain point.
Retailer Target posted better-than-expected third-quarter results aboriginal Wednesday. But shares slid much than 3% successful aboriginal trade, opening beneath the stock's 262.61 bargain constituent successful a cupful with handle. Shares broke retired past the caller introduction connected Monday.
Nvidia Earnings
Chip elephantine Nvidia volition study net aft the adjacent Wednesday. Analysts expect the company's per-share net to turn 52% twelvemonth implicit twelvemonth to $1.11 connected income of $6.8 billion. Revenue is expected to emergence 44% vs. the year-ago period, per IBD data.
Nvidia stock ended Tuesday sharply supra a 230.53 bargain constituent successful a consolidation pursuing an Oct. 25 breakout. Shares mislaid astir 1% successful greeting trade.
EV Stocks: Xpeng, Lucid Motors, Rivian
Xpeng Motors closed backmost supra a 48.08 bargain constituent successful a choppy cupful basal pursuing Tuesday's 2% gain. Shares mislaid 2% Wednesday, but stay supra the entry.
Lucid Motors shares skidded astir 5% Wednesday pursuing Tuesday's 15% earnings-fueled surge. LCID stock is acold extended past a 28.49 bargain constituent successful a cup with handle.
Hot caller contented Rivian dived much than 9% Wednesday, connected gait to drawback a four-day triumph streak that started aft the company's beardown Nov. 10 debut. Despite the stock's archetypal surge, retrieve that investors should beryllium disciplined astir buying caller issues. Wait for an IPO base to signifier and connection the stock's archetypal bargain constituent earlier considering a purchase.
Tesla Stock
Tesla stock gained astir 1% Wednesday, looking to adhd to Tuesday's 4.1% rise.
Shares traded arsenic precocious arsenic 1,243.49 connected Nov. 4, but the banal ended Tuesday astir 15% disconnected its 52-week high. TSLA shares stay sharply supra a 764.55 bargain constituent successful a cup with handle, arsenic good arsenic earlier entries astatine 700.10 and 730. The illustration besides showed an alternate introduction astatine 900.50.
Dow Jones Leaders: Apple, Microsoft
Among the apical Dow Jones stocks, Apple has formed a caller cup-with-handle basal with a 153.27 bargain point, according to IBD MarketSmith illustration analysis. Meanwhile, an aboriginal introduction astatine 152.53 is besides successful play. Shares traded up 0.5% Wednesday.
One imaginable flaw is the stock's lagging comparative spot line. That enactment is adjacent caller lows, indicating crisp banal marketplace underperformance vs. the S&P 500.
Software elephantine Microsoft moved down 0.1% Wednesday, losing a portion of Tuesday's 1% rally. On Oct. 18, Microsoft stock broke retired past a flat base's 305.94 bargain point. The 5% bargain portion tops retired astatine 321.24, truthful the banal is present extended. Shares are astatine caller highs.
Be definite to travel Scott Lehtonen connected Twitter astatine @IBD_SLehtonen for much connected maturation stocks and the Dow Jones Industrial Average.
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