Dow futures rose slightly overnight, along with S&P 500 futures and Nasdaq futures. meta pads (dead) on profits, although the extravagant spending has lifted many of the big technology suppliers.
X
Apple and Amazon.com shares will be shown Thursday evening.
The stock market rally saw significant volatility during the day on Wednesday, but the major indexes eventually closed near session lows. Nasdaq fell sharply Microsoft (MSFT) and Google earnings.
Some stocks are flashing buy signals, including Energy Enphase (ENPH), wing stop (wing) And the Rollins (roll).
separately , Tesla (TSLA) is reported to be facing a criminal investigation over allegations of self-driving.
earnings
Meta Origin Platforms on Facebook, Wolfspeed (wolf), Ford Motor (F), emping (PI), Molina Health (Ministry of Health), Aspen technology (AZPN) And the Service now (Currently) reported after closing.
Meta shares fell on weak earnings and guidance. But Meta’s massive spending plans have boosted many chip and network companies, including nvidia (NVDA) And the Arista Networks (Network).
WOLF’s stock is down at his guidance. Aspen Technology, ServiceNow and PI stocks were big dividend winners, Molina Health stood out. Ford fell a little. AZPN stock is not yet active.
merck (Mrk), Shopify (a store), Master Card Credit Card (Master’s), McDonald’s (MCD) And the Larva (cat) report early Thursday.
But then all eyes will turn to Thursday night with apple (AAPL) on tap, along with Amazon.com (AMZNand biotech giant Vertex Pharmaceuticals (VRTX).
Apple and Amazon shares fell from near the 50-day streak on Wednesday. VRTX shares are in buy territory.
Vertex and Wingstop stock in operation IBD Leaderboard. WOLF stock is in the leaderboard watchlist. MUSA stock is located in defect 50. Vertex, Molina Health and ENPH stocks are available at IBD Big Cap 20. It was Enphase Energy on Wednesday IBD stock today.
The video included in this article discusses the volatile market movement and analyzes the WING, Enphase, and . stocks The field is empty (CLFD).
Tesla Criminal Investigation
Reuters reported on Wednesday that Tesla faces a criminal investigation over allegations of self-driving. The report stated that the Justice Ministry’s investigation began last year and was not close to reaching any conclusions. The criminal investigation comes amid an ongoing and expanding autopilot investigation by the National Highway Traffic Safety Administration.
The new criminal investigation does not appear to affect TSLA’s stock. Shares closed 1% higher at 224.64, off session highs as the market faded from late-morning highs.
Meanwhile, Tesla CEO Elon Musk has left Twitter (TWTR) and changed his Twitter bio to “Chief Twit” with all the signs that the $44 billion acquisition was closed by Friday evening. TWTR stock rose 1.2% Wednesday to 53.42, up 7% so far this week and just below the $54.20 price.
Twitter stock rose 1% to 53.90 overnight, as the New York Stock Exchange said TWTR would be delisted at Friday’s close.
It’s unclear whether Musk will still have to sell more Tesla shares to fund the Twitter acquisition.
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Dow jones futures contracts today
Dow futures are up 0.5% against fair value. S&P 500 futures rose 0.45%. Nasdaq 100 futures advanced 0.5%, with Meta falling while NOW rose.
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.
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stock market rise
The stock market rally saw huge volatility on Wednesday, and closed mixed.
The Dow Jones Industrial Average closed 2 points higher on Wednesday stock market tradingeven with MSFT stock down 7% and Boeing (BA9% discount. The S&P 500 fell 0.7%. The Nasdaq slipped 2%. Small cap Russell 2000 rose 0.5%.
The 10-year Treasury yield fell 10 basis points to 4.01%, extending a sharp decline from intraday highs last Friday. The 10-year Treasury yield was lower than the 3-month yield, which fell to 4.03% on Wednesday. A 3-month/10-year reversal is seen as a stronger recession signal than a 2/10-year reversal.
The Bank of Canada raised interest rates by 50 basis points versus the expected 75 basis points as more central banks started to become less aggressive. The Federal Reserve is a virtual lock-in to raise interest rates by 75 basis points for the fourth consecutive meeting next week. But markets are leaning towards a 50bp move in December.
The US dollar fell strongly for the second session.
US crude oil prices rose 3% to $87.91 a barrel.
ETFs
between the Best ETFsThe Innovator IBD 50 ETF (fifty) rose 0.2%. iShares Expanded Technology and Software Fund (ETF)IGV) is down 1.75%, as Microsoft stock has been a huge component and ServiceNow is also a noteworthy ownership. VanEck Vectors Semiconductor Corporation (SMH) give up 1%.
SPDR S&P Metals & Mining ETFs (XME) advance 1.1%. SPDR Specific Energy Fund (SPDR ETF)XLE) by 1.4%. SPDR Healthcare Sector Selection Fund (XLV) by 1.1%.
Shares reflect more speculative stories, the ARK Innovation ETF (see you) up 0.2% and the ARK Genomics ETF (ARKG) rose by 2.8%. Tesla stock remains a major ownership across Ark Invest’s ETFs.
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Main earnings
Meta Platforms earnings were significantly lower than the third-quarter view, though revenue topped. The Facebook parent also provided poor guidance.
Meta stock is down nearly 20% overnight, pointing to its worst level since late 2016. The stock actually fell 5.6% to 129.82 on Wednesday after Google lost poor online advertising revenue. This came after double revenue from a Snapchat parent Explode, Explode (Explode, Explode) in advance this month.
On the plus side, Nvidia, MARVEL Technology (MRVL) ANET stock rose as Facebook’s massive spending exacerbated.
Wolfspeed recorded a quarterly loss And sales that topped the number of views a little. A chip maker vulnerable to electric vehicles gave disappointing guidance.
WOLF stock collapsed 26% in the extended trade, indicating a dip below recent lows and the 200-day moving average. Shares rose 1.3% on Wednesday to 106.44, hitting resistance at the 50-day line. The WOLF stock was close to having a proper base.
Impinj earnings crush viewswith the tracking chip maker also topping sales estimates.
PI stock is up 18% overnight, indicating a gap above a consolidated buy point at 99.10. Impinj stock rose 1.3% to 89.23 on Wednesday, and settled above the 50-day line.
Ford’s earnings and revenue were largely in line with lower views after the automaker warned last month of supply chain and cost problems.
Ford’s stock is down 1% in the extended business. Shares fell 0.1 percent to 12.82 on Wednesday. Ford stock runs at 16.78 buy point From the bottom base, according to MarketSmith Analysisbut it is still below the 50-day and 200-day moving averages.
Molina Health Earnings Modest topped views. The Ministry of Health’s shares rose 5% in overnight trading. Shares rose 0.8% Wednesday to 369.23, up in the buying territory from a flat base. flat base, Part of the base on the base , he has 361.35 buy points. Molina stock is set to open beyond the 5% buying zone, which ends at 379.42.
Aspen Technology’s profits crushed views, while also increasing revenue. AZPN stock is not yet traded in extended procedures. Shares of the supply chain and engineering software maker fell 1.7% to 248.40 on Wednesday, but found support when its 21-day moving average rose. AZPN stock has been consolidating for a few weeks after a strong stampede, but it needs more time to form a proper base.
ServiceNow أرباح Earnings It topped but revenue fell and the business software giant slashed its subscription revenue targets in the fourth quarter. However, NOW stock is up 13% after hours, indicating at least a test of its 50-day streak. ServiceNow stock fell 2.7% to 366.41 Wednesday on Microsoft’s results and guidance.
Market Rise Analysis
Wednesday was a strange day for the stock market rally. The Nasdaq fell at the opening on the earnings of Microsoft and Google. The tech-heavy index erased losses late in the morning, but then stocks faded back towards session lows. The S&P 500, which moved above the 50-day line on the day, has fallen again.
Nasdaq, after retreating from near the 50-day line, now needs support near the 21-day line.
Although the Russell 2000 closed at the highest levels, it moved the 50-day streak, reflecting how largely market weakness is focused in the larger companies. Microsoft and Google Parents the alphabet (The Google) were the main culprits, but Meta, Amazon and Apple were big losers as well.
Invesco S&P 500 Equal Weight Box (RSP) was up 0.2%, although it closed near session lows.
Advance stocks outnumbered losers on the New York Stock Exchange and Nasdaq. New highs crossed new lows.
Wednesday’s pullback from key technical areas due to bad news is not surprising. What matters is how the market rally responds from here.
A significant amount of earnings, including Apple and Vertex shares, are still due this week, with a heavy burden next week. Also next week: Another Federal Reserve meeting and rate hike, along with the October jobs report and other key economic data.
On the positive side, leading stocks from a variety of sectors are flashing buy signals and extending gains, including ENPH stock.
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What are you doing now
Wednesday’s roller coaster session, which closed near its lows, underscores the need for caution.
Investors were supposed to gradually add exposure in recent days as the market rally gained strength and more stocks flashed with buy signals. But the rush into new trades risks loading at intraday highs, or before a more significant pullback.
Although there are reasons for optimism, there are still many technical hurdles and macroeconomic challenges.
Look for new opportunities by working on your watch lists. But be prepared to pull back if the upside or your stocks run into trouble.
Read The Big Picture Every day to keep up with the trend of the market, stocks and leading sectors.
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