Dow drops after Fed-fueled market sell-off; Treasury revenue rises

The Dow Jones Industrial Average fell on Thursday, threatening to add to Wednesday Stock market sell-offs fueled by the Federal Reserve. The Labor Department’s weekly jobless claims came ahead of the opening.




X



Darden Restaurants (DRI), along with home builders KB Home (KBH) And the linar (flexible), one of the most important drivers of earnings on Thursday morning. strong early movement of Salesforce.com (CRM) bolstered the Dow, after the company confirmed a $50 billion revenue target for 2026.

Shares of Darden Restaurants fell about 2%. KB Home . stock decreased nearly 3%, and linar arrow It traded up 1% after the market opened. Salesforce traded more than 2%.

roadblock (mint) down nearly 2% after the rating was downgraded from buy to neutral on Mizuho. electric car leader Tesla (TSLA) is down 0.1% on Thursday. between the Dow Jones Industriestech giants apple (AAPL) And the Microsoft (MSFTIt was modestly low yet stock market today Open.

Includes top stocks to watch amid recent market weakness continental resources (CLR), double check (DV), Neurobiological Sciences (NBIX) And the Vertex Pharmaceuticals (VRTX) – as well as Dow Jones stock chevron (CVX). Keep in mind that the new correction in the stock market is a good reason for investors to be often, if not entirely, on the sidelines.

DoubleVerify is a file IBD Leaderboard stocks, but his position size shrank during last week’s losses. Tesla This week it appeared in the stock column near the buy zone. Endocrinology was Stock pick on Wednesday from 50 IBD to watch.

Dow Jones today: Treasury yields, oil prices, unemployment claims

After the opening bell on Thursday, the Dow Jones Industrial Average lost 0.6%, while the S&P 500 fell 0.8%. The Nasdaq Technology Weighted Composite Index is down 1.15% in the morning’s move.

within Exchange Traded FundsNasdaq 100 Invesco QQQ Trust Tracker (QQQ(Down 0.9%, the SPDR S&P 500 ETF)spy) decreased by 0.7%.

The 10-year Treasury yield rose to 3.65% on Thursday, rebounding from Wednesday’s low. On Wednesday, the 10-year Treasury yield hit a new high of 3.62% before reversing lower. Meanwhile, US oil prices appeared to be rebounding after two days of losses. Oil prices rose more than 1%, bringing West Texas Intermediate crude futures above $84 a barrel.

Released early Thursday, jobless claims first came in at 213,000, below estimates that had forecast a rise to 220,000 versus 213,000 in the previous week.

stock market correction

On Wednesday, the stock market underperformed, with major stock indexes selling off after the Federal Reserve’s interest rate decision. The Dow Jones Industrial Average and the S&P 500 lost 1.7%, while the Nasdaq fell 1.8%.

Wednesday big picture column He commented that Fed Chairman Jerome Powell “has made it very clear that the Fed’s number one task today is to focus on bringing the long-term inflation rate to 2% per year. It will take a long time before that happens.”

To prepare for a new stock market rally, investors must wait for two things: a bullish attempt, and then a follow-up day.

In the market correction, the index closed on the first day its highest count as the first day of its attempt to climb. The action on day 2 and day 3 is irrelevant as long as the indicator does not reduce its lowest level. If this low is trimmed, the rally will be attempted and the market will need to try again. Wednesday’s action undermined the recent declines, so we’re back to look for Day 1.

On the fourth day and beyond, you were looking forward to the NASDAQ or S&P 500 rising sharply in higher trading volumes than the previous session. this Follow-up day. It gives investors the green light to start buying blue-chip stocks that crossed a previous correction buy points. You must keep your portfolio and mindset in sync with the movement of the stock market by gradually committing your capital to leading stocks.

While the stock market is correcting, don’t adjust. Instead, create watchlists to find emerging stock market leadership with line relative force. The RS line measures the stock’s price performance against the S&P 500 index. If the stock is outperforming the broader market, the RS line tends to the upside. If the stock lags behind the broad market, the line will be pointing down.


Five Dow Jones stocks to watch right now


Dow Jones stocks to watch: Chevron

Chevron stock in Dow Jones fell 0.8% on Wednesday, still barely holding above the critical support level around the 50-day line. Shares are trading about 6% from their last buy point at 166.93 from a cup with a handle — according to IBD Market Smith Chart Analysis – Amid the strong performance of energy stocks this year so far. The stock rose 1.8 percent as oil prices rebounded early Thursday.

CVX stock Shows a strong 97 out of a perfect 99 IBD compound classification, for every IBD stock check. Investors can use the IBD composite rating to easily gauge the quality of a stock’s fundamental and technical metrics.


Top 3 Growth Stocks to Buy and Watch at Cursstock market correction


Top stocks to watch: Continental, DoubleVerify, Neurocrine, Vertex

Continental Resources and the oil explorer are building a cup with a handle with a point-of-purchase of 72.80, according to IBD Market Smith Graph analysis. The Relative Strength line touched its most recent high last week, but remained slightly off its 52-week high. CLR shares were trading up 1.7% early Thursday.

IBD stock leaderboard DoubleVerify remains below the buy point at 28.07 at the bottom base after Wednesday’s 1.25% loss. DV shares were down 1.3% Thursday morning.

Stock pick on Wednesday from 50 IBD to watchNeurocrine Biosciences builds a flat base with 109.36 pts. The stock’s RS line hit a new high on Wednesday, signifying the outperformance of the big stock market. Shares were down 1.5% on Thursday.

Vertex Pharmaceuticals stock is down more than the 50-day streak after Wednesday’s 2.3% loss. The stock has held up well during the ongoing market weakness, as evidenced by the RS line approaching new highs. The new flat base holds 306.05 buy points, and the stock’s flexibility makes it an important idea to watch. Vertex shares were down 0.55% Thursday.


Join IBD experts as they analyze the leading stocks in the current stock market correction on IBD Live


Tesla Stock

Tesla stock It traded down 2.6% on Wednesday, continuing to trade near the 314.74 buy-to-sell point. In the meantime, keep an eye out for additional buying points if the stock is able to climb further to the right side of the larger consolidation process, which runs through January. Shares were down 0.1% Thursday morning.

Up, the stock’s RS line is at its highest level since April. The shares are up about 27% from their 52-week high.

Dow Jones Leaders: Apple and Microsoft

within Dow Jones stockApple shares fell 2% on Wednesday, cutting a two-day winning streak. Last week, the stock closed at its lowest level since July 18. Apple stock traded 0.5% lower Thursday morning.

Microsoft lost 1.4% on Wednesday, hitting a 52-week low. The software giant is about 32% from its 52-week high. Microsoft shares lost 0.1 percent early Thursday.

Make sure to follow Scott Lehtonen on Twitter at Tweet embed Learn more about developing stocks and the Dow Jones Industrial Average.

You may also like:

Top growth stocks to buy and watch

Learn how to time the market with IBD’s ETF Market Strategy

Find the best long-term investments with IBD long-term leaders

MarketSmith: Research, charts, data, and training in one place

How to Find Growth Stocks: Why IBD Simplifies Finding Top Stocks