The Dow Jones industrial index sold out on Friday after Russia fired on and then seized a Ukrainian nuclear power plant. Meanwhile, the report on jobs in February exceeded estimates before the stock market opened. Bonds rose, leading to sharply lower yields on government bonds. Oil prices have risen.
x
After closing on Thursday, Broadcom (AVGO) and Marvell Technology (MRVL) reports its quarterly results. Shares of AVGO rose more than 2% early Friday, while shares of Marvell fell 1% after opening.
Among the leaders of the Dow Jones, Apple (AAPL) fell by 0.8% and Microsoft (MSFT) is trading at 0.2% in today’s stock market. UnitedHealth (UNH), a Dow Jones stock you should watch, is approaching a new buying point.
Leader of electric vehicles Tesla (TSLA) turned the lower Friday.
Against the backdrop of a volatile market driven by titles, anthem (ANTM), Commercial metals (CMC), Northern oil and gas (NOG) and Palo Alto nets (PANW) are among the best promotions to watch on Friday. Keep in mind that the current conditions of the stock market must keep investors in cash and on the sidelines.
Microsoft and Tesla are shares of IBD Leaderboard. Anthem is a stock of IBD SwingTrader. Commercial Metals was introduced in the stock column near the buying area this week.
Dow Jones Today: Job Report, Russian Invasion
After opening on the market on Friday, the Dow Jones Industrial Average sold 1.3%, while the S&P 500 fell 1.4%. Nasdaq fell 1.4% in morning trading.
Among exchange-traded funds, the Tracker Nasdaq 100 Invesco QQQ Trust (QQQ) fell 0.6% and the SPDR S&P 500 ETF (SPY) lost 0.8% after opening on Friday.
Yields on 10-year bonds fell to 1.76% on Friday morning. On Thursday, the yield on 10-year bonds closed at 1.84%. US oil prices, meanwhile, rose more than 4 percent on Friday as West Texas Intermediate crude traded at about $ 112 a barrel. WTI briefly jumped above $ 116 a barrel on Thursday before returning.
The US economy added 678,000 jobs in February, easily surpassing Econoday’s estimates of 390,000 jobs. The unemployment rate fell to 3.8%.
Meanwhile, Russian shelling in southern Ukraine sparked a fire at Europe’s largest nuclear power plant before Russian troops took control of the facility. Despite initial fears, the fire reportedly broke out at the power plant’s school. None of the reactors were affected by the fire and there was no leakage of radiation, according to officials at the state-owned Energoatom, the company that operates Ukraine’s four nuclear power plants.
Attempt to rally the stock market
The stock market posted disappointing performance on Thursday as major stock indexes turned from early gains to final gains with moderate to severe losses. Friday is Day 7 of the ongoing rally experience, which means that the next day – a signal for the start of a new uptrend – is possible at any time. Against the background of the current instability, it is important to read and follow the IBD’s Big Picture column.
On Thursday, The Big Picture commented: “During market adjustments, investors must be in cash. But don’t give up. Instead, keep a list of the best performing stocks that are trying to hold out in times of market weakness. Use the line of relative strength to help you identify some emerging market leaders. You can also find stocks recently added to IBD’s own watch lists, such as IBD 50 here. “
If you are new to IBD, consider looking at its stock trading system and the basics of CAN SLIM. Recognition of chart patterns is one of the keys to investment guidelines. IBD offers a wide range of lists of growth stocks, such as Leaderboard and SwingTrader.
Investors can also create watch lists, find companies approaching a point of purchase, or develop custom screens at IBD MarketSmith.
Four Dow Jones stocks to watch now
Dow Jones shares to monitor: UnitedHealth
UnitedHealth is building a double-bottom base that offers a 501.03 purchase point. The shares ended on Thursday at about 3% since their last entry. UNH shares were 1.6% lower at the beginning of Friday.
The upward line of the relative strength of the shares is just at new highs, which shows a significant superiority in the stock market.
Four stocks with the highest growth to see this yearrent. Stock market adjustment
Watching actions: Anthem, Commercial metals, Northern oil, Palo Alto
Shares of IBD SwingTrader Anthem are just below entry on a flat basis of 470.12 after rising 1.2% on Thursday. Shares fell 1.35% on Friday morning. The anthem was the shares of IBD Day on Wednesday.
Texas-based Commercial Metals, a maker of metal products for the construction industry, is gaining momentum after a recent breakout after a buying point of 38.82 on consolidation. Shares are about 3% above the entrance, with shares rising nearly 3% on Thursday. The purchase area of 5% increases to 40.76. The CMC availability shows 98 of the perfect 99 IBD Composite Rating, to check the IBD Stock. Shares of CMC fell 1% on Friday morning.
Northern Oil & Gas is still in the buying range, exceeding the buying point of a cup with a handle of 25.57, according to an analysis of the IBD MarketSmith chart, after falling 1.6% on Thursday. Shares of NOG rose 1.5% on Friday.
Cybersecurity leader Palo Alto Networks continues to hold just over 572.77 points to buy a consolidation after falling 1.5% on Thursday. The buying area of 5% reaches 601.41. The RS line peaked on a breakout day, but market volatility prevented shares from contributing to breakout gains. Palo Alto shares remained unchanged early Friday.
Join IBD experts as they analyze leading stocks in the current IBD Live stock market adjustment
Tesla shares
Shares of Tesla turned from early earnings to a decline of 0.2% on Friday morning, trying to recover from a 4.6% decline on Thursday. The stock is slightly above their long-term 200-day moving average. Look for stocks to find support again around this year. Probably another crucial decline, which may signal further weakness.
The shares traded up to 1243.49 on November 4, but ended on Thursday with about 33% of this highest peak of all time.
Leaders of Dow Jones: Apple, Microsoft
Among the shares of Dow Jones, Apple is building a double-bottom base with 176.75 points to buy, according to an analysis of the chart of IBD MarketSmith. The shares are about 6% away from the new point of purchase. Shares of AAPL found support in their long-term 200-day line last week, but remain below their 50-day moving average. Shares of Apple lost 0.8% on Friday.
How Dow Jones shares cope with the potential resistance on the 50-day line will be key to the likelihood of a breakout. If stocks find stable stability, then a longer period of consolidation is likely. However, if the shares resolutely regain this level, then the breakthrough may be on the near horizon. So far, Apple shares are about 2.5% below the 50-day line.
The relative strength of the shares remains close to the last peaks in the face of stock market weakness, which means that institutions are hesitant to sell their shares to Apple.
Software leader Microsoft fell 1.4 percent on Thursday, closing below the 200-day line again. The shares continue to build a new base. Shares of MSFT fell 0.2% in early Friday.
Don’t forget to follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more information on the growth stocks and the Dow Jones Industrial Average index.
YOU MAY ALSO LIKE:
Shares with the highest growth to buy and watch
Learn how to synchronize your market with IBD’s ETF marketing strategy
Find the best long-term investments with long-term IBD leaders
MarketSmith: Research, charts, data and training all in one place
How to study rising stocks: Why this IBD tool simplifies finding the best stocks