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Dow futures dip on hot inflation data; The following Fed Minutes; PepsiCo . jumps

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Dow futures fell on Wednesday on the back of hot inflation data from the Producer Price Index. The minutes of the Federal Reserve’s latest policy meeting are due to be released later in the day.




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The US Department of Labor’s Producer Index, or PPI, rose 0.4% in September versus the previous month, higher than the expected 0.2% rise, according to Econoday estimates. Wholesale inflation was up 8.5% from a year ago, up from an estimate of 8.4%.

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Also Wednesday, the minutes of the Federal Reserve’s September 20-21 meeting are due out at 2 p.m. ET. The CPI is due on Thursday with the September retail sales on Friday.

Third-quarter earnings season begins this week, with PepsiCo (PEP) reported strong earnings results on Wednesday morning. Shares are up 2% in early morning trade.

Stock Market Today: Earnings on Click

Thursday morning , Black stone (BLK), Delta Air lines (DA), Domino’s Pizza (DPZ), Taiwan’s semiconductor industry (TSM) And the Walgreens Boots Alliance (WBA) their quarterly earnings results will be released.

electric car leader Tesla (TSLA) is up 1% on Wednesday. Among the Dow Jones industrial companies, technology giants apple (AAPL) And the Microsoft (MSFT) turned mixed before stock market today Open. Intel Corporation (INTC) rose after 1% Bloomberg mentioned The company plans to lay off thousands of workers early this month.

Cardinal’s health (CAH), ConocoPhillips (policeman), Denberry (den) And the Vertex Pharmaceuticals (VRTX) – as well as the shares of Dow Jones chevron (CVX) And the merck (Mrk) – Among the top stocks to watch. Keep in mind that an ongoing stock market correction is a time when investors sit on the sidelines and build watch lists of the top growth stocks.

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Cardinal Health and Vertex IBD Leaderboard Stores. Chevron and Conoco appeared In the stock column near the buy zone for this week, along with two other ideas for the hottest stocks. Vertex was from IBD Today’s stock Friday. it was merck Stock pick on Tuesday from 50 IBD to watch.

Dow Jones today: Treasury yields and oil prices

Before the opening bell on Wednesday, Dow Jones futures were down 0.1% against fair value after giving up strong gains, while S&P 500 futures were up 0.1%. Tech-heavy Nasdaq 100 futures rose 0.1%.

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.

within Exchange Traded FundsNasdaq 100 Invesco QQQ Trust Tracker (QQQ(Up 0.5%, the SPDR S&P 500 ETF)spy) rose 0.2%.

The 10-year Treasury yield surged on Wednesday, climbing to 3.96% and on pace to extend its four-day winning streak. The 10-year Treasury yield is approaching 4%, just as it did in late September.

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Meanwhile, US oil prices rose less than 1% on Wednesday, sending West Texas Intermediate crude futures higher near $90 a barrel. Oil prices are trying to recover after two consecutive days of sharp losses.

Trying to go up in the stock market

On Tuesday, the Nasdaq extended its losing streak to five sessions, falling 1.1%. Four consecutive closes near session lows bring the possibility of a trip down to the 10,000 level. It is a key support level to watch, especially as it is very close to the Nasdaq breakout area in June 2020.

And commented on Tuesday the big picture“With the Dow Jones still stable above its September 30 low, Tuesday marked the seventh day to try to rally the index, but the S&P 500 and Nasdaq are still looking for the first day of their attempts to rally. September 30 is down with a loss on Tuesday.” .

The S&P 500 held above its recent lows. Therefore, a bullish attempt for the S&P 500 is still intact, which means that a possible follow-up day on this indicator is still possible.

Before the possible follow-up day, now is the perfect time to build Powerful watchlist A high performance stock. Many long-term leaders tend to breakout on or near the follow-up day, confirming a new uptrend. Missing this early opportunity can be a costly mistake.

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One of the challenges in forming a watchlist during the correction is that while waiting for the follow-up day, the stock charts may change. This means that some of the rules among your watchlist stocks may deteriorate. So the update is important.

paying off IBD Stock ListsLike the defect 50 And the Stocks near the buying areafor additional ideas for stock.


Five Dow Jones stocks to watch right now


Dow Jones stocks to watch: Chevron, Merck

Energy giant Chevron decisively restored its 50-day production streak last week, with US oil prices recovering. Stocks consolidate below 182.50 buying points ahead of the company’s October 28 earnings announcement. Chevron shares rose 0.5% early Wednesday, following a rally in oil prices.

CVX stock boasts 98 strong out of 99 perfect 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.

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Member of Dow Jones and IBD 50 . stock Merck is building a double bottom with 93.12 buy pointAnd the to me IBD MarketSmith Pattern Recognition. The line relative force It hit a new high on Monday, as the stock decisively reclaimed its major 50-day moving average. Third-quarter earnings results are due on October 27, before the opening bell.

Merck shares rose Wednesday morning. Meanwhile, biotechnology Moderna (mRNA) surged nearly 5% after news that it will partner with Merck to develop a skin cancer treatment that companies are calling a personalized cancer vaccine.


4 growth stocks to watch at Cursstock market correction


Top stocks to watch: Cardinal, Conoco, Denbury, Vertex

IBD Leaderboard Leading equities and medical firm Cardinal Health is forming a flat base with 72.38 points of purchase, according to IBD Market Smith Graph analysis. The stocks are also in a buying range amid the first test of their 10-week moving average, according to a leaderboard comment. Earnings are due on November 4th. Shares were trading slightly lower on Wednesday.

Energy giant ConocoPhillips has fallen below a 118.49 points of purchase in a cup with a handle During Tuesday’s 1% drop. The RS line of the stock reached a new high last week, which indicates a strong performance in the stock market. Profits are scheduled for November 3. Shares rose 1% on Wednesday, their rally coinciding with higher oil prices.

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Denbury stock rose 6.6% on Monday, surpassing 94.05 buying points for the cup base, Next reports who – which ExxonMobil (XOM) are considering an acquisition. Stocks are barely back in the 5% chase territory that stretches to 98.75, although the market is still in a correction. The company will announce its earnings on November 3. Shares jumped 3.8% on Wednesday.

Leading biotech company Vertex Pharmaceuticals continues to build a flat base with a buy point of 306.05 and an early entry at 296.90. The RS line made a new high on Tuesday, signaling an outperformance in the stock market. VRTX stock rose nearly 2% Wednesday, after the company said it was introducing an investigation program regarding a treatment for a rare protein-based disease that can cause liver and lung damage.


Join IBD experts as they analyze the leading stocks in an attempt to rise the current stock market on IBD Live


Tesla Stock

Tesla stock It fell 2.9% on Tuesday, extending its losing streak to five sessions. Stocks are at their lowest since early July and about 48% from a 52-week high. Tesla stock rose 0.6% Wednesday morning.

The electric car giant’s third-quarter results were on October 19. Tesla is expected to earn $1.03 per share on adjusted sales of $22.4 billion.

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Dow Jones Leaders: Apple and Microsoft

within Dow Jones stockApple shares fell 1% on Tuesday, but they are still holding above their recent lows. With that said, shares are down nearly 24% from their 52-week highs and below their 50 and 200-day lines. Apple stock rose 0.3% on Wednesday.

Microsoft fell 1.7% on Tuesday, extending its losing streak to four sessions and hitting a 52-week low. The software giant is about 36% from its 52-week high. Microsoft shares fell early Wednesday.

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

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Top growth stocks to buy and watch

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MicroStrategy is at its lowest level since 2020 after the sales were revealed

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(Bloomberg) — Shares of MicroStrategy touched their lowest level since August 2020 after the enterprise software company, which in recent years has been known as the largest buyer of bitcoin, revealed its first sale of the token.

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The stock fell 1.1 percent to $136.63 on Thursday, down 75 percent this year. Bitcoin rose less than 1% to around $16,590 and is believed to have fallen 64% since the start of the year.

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In a filing on Wednesday, MicroStrategy said it acquired approximately 2,395 Bitcoin between the beginning of November and December 21 through its subsidiary MacroStrategy, and paid out approximately $42.8 million in cash. It then sold 704 of the tokens on Dec. 22 for a total of about $11.8 million, citing tax purposes, before buying another 810 of them two days later.

Matt Malley, chief market strategist for Miller Tabak + Co. Step down as CEO. This news means they don’t seem to want to do that anytime soon.”

Overall, MicroStrategy held about 132,500 bitcoins worth over $4 billion USD as of December 27th. The company paid an average purchase price of $30,397 per bitcoin.

“Given MicroStrategy’s $2.4 billion in leverage, we believe the company may have a lot of leverage over Bitcoin, and may face some liquidity risk,” Jefferies analyst Brent Thiel wrote in a note on Wednesday. Thill has an “underperform” rating on the stock and a price target of $110.

Over the years of the pandemic, MicroStrategy has become well known for its Bitcoin takeovers, largely led by Saylor. Earlier this year, Saylor stepped down from that role and now serves as CEO at the company and continues to lead its bitcoin strategy.

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MicroStrategy was trading around $120 before Saylor first announced the company’s Bitcoin purchases in 2020. The stock reached an all-time high of $1,315 in February 2021.

(Updates to include the stock’s closing price in the second paragraph.)

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Bankman-Fried May File Petition in New York Federal Court Next Week Before Judge Louis Kaplan By Cointelegraph

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Former FTX CEO Sam Bankman-Fried is set to appear in court on the afternoon of January 3 to enter a lawsuit over two counts of wire fraud and six counts of conspiracy against him related to the collapse of cryptocurrency exchange FTX, according to Reuters. mentioned on December 28, citing court records. Bankman-Fried will appear before District Judge Lewis Kaplan in Manhattan.

Judge Kaplan was appointed to hear the case on December 27 after the original judge in the case, Ronnie Abrams, Resigned herself because of connections between FTX and the law firm Davis Polk & Wardwell, where her husband is a partner. The company provided advisory services to FTX in 2021.