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Dow Jones futures sell 300 points after jobs data; Key economic data, OPEC meeting later

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Dow futures sold 300 points Wednesday morning after the stronger-than-expected ADP employment report. The ADP payroll report reviews Friday’s jobs report from the Department of Labor. while, OPEC + will meet To consider controversial production cuts.




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Ford Motor (F) was up 1.8% Wednesday morning after Morgan Stanley lifted the stock from equal weight to overweight. investment banks Goldman Sachs (p) And the Morgan Stanley (Ms) by 1.6% and 1.3%, respectively, as Atlantic Equities expects investment banking activity to decline.

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electric car leader Tesla (TSLA) is down 1.3% on Wednesday. Among the Dow Jones industrial companies, technology giants apple (AAPL) And the Microsoft (MSFTThey were both directly ahead stock market today Open.

When the stock market turns trying to go up, Murphy United States of America (Musa), Neurobiological Sciences (NBIX), Vertex Pharmaceuticals (VRTX) And the world wrestling entertainment (WWE) – as well as Dow Jones stock United Health (United nations) – Among the top stocks to watch. Despite Tuesday’s gains, the market situation is still “in correction”, and investors should remain on the defensive.

Vertex is a recent addition to IBD Leaderboard. Murphy USA appeared in This week’s stock is near the buy zone column, along with three other ideas for the hottest stocks. World wrestling was a Today’s stock Thursday. Neurocrine . was Today’s stock On September 26th.

Dow Jones today: Treasury yields and oil prices

Before the opening bell on Wednesday, Dow Jones futures were down 1.1% against fair value, while S&P 500 futures lost 1.15%. Nasdaq 100 futures were down 1.3%. Remember to work overnight in Dow Jones futures contracts and anywhere else 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(down 1.3%, the SPDR S&P 500 ETF)spy) lost 1.1%.

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The 10-year Treasury yield rebounded to 3.7% on Wednesday morning, and is set to cut a two-day losing streak. Last week, the 10-year Treasury yield briefly crossed 4%, which it hasn’t in more than a decade. But it has decreased significantly this week.

Meanwhile, US oil prices gave up a small part of their recent gains, falling 0.5% on Wednesday, taking West Texas Intermediate crude futures to around $86 a barrel. Oil fell last week to its lowest level in the year before rebounding. OPEC+ is widely expected to agree to a significant production cut Wednesday when it meets in Vienna, Austria.

ADP jobs report, economic data

The ADP employment report for September was released at 8:15 a.m. ET. ADP’s private payroll rose 208K, topping ADP’s estimate of 200K growth, down from August’s 308K.

Next, the IHS/Market US Services Purchasing Managers’ Index (PMI) is due at 9:45 AM. It is expected to improve to 49.2 from August’s reading of 43.7. Readings less than 50 indicate contraction.

Finally, the Institute for Supply Management Services Index at 10 AM is expected to decline slightly to 56.0 from August’s reading of 56.9.

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Trying to go up in the stock market

On Tuesday, the Nasdaq Composite was the best performer of the major indexes, up 3.3% on the day. The S&P 500 advanced 3.1% and the Dow Jones Industrial Average rose 2.8%.

Warning on Tuesday the big pictureKeep in mind that this is only the second day of trying to rally and the market is still correcting. Investors should avoid getting too deep because no one can rule out another brutal reversal.

Monday’s gains started a new attempt to rally in the stock market, and it’s your first day. The action on Day 2 and Day 3 is not relevant as long as the index does not cut its lowest level since Friday. If this drop is trimmed, an attempt to rise is made and the market continues to look for a bottom.

Then, on the fourth day or so, investors should wait a day to follow up. Starting Thursday (Day 4), you are looking at the NASDAQ or S&P 500 index rising sharply in higher trading volumes than the previous session. Large enough height in climbing scale marks Follow-up day. This would give investors the green light to start buying blue-chip stocks that crossed a previous correction buy points.

Now, before the possible follow-up day, is the perfect time to build Powerful watchlist A high performance stock. Many long-term leaders tend to breakout at or near follow-through, which is a bearish market signal. Missing this early opportunity can be a costly mistake.

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Five Dow Jones stocks to watch right now


Dow Jones stocks to watch: UnitedHealth

UnitedHealth stock in Dow Jones advanced 1.5% on Tuesday and is close to testing the key 50-day streak. The stock is building a flat base that has 553.23 buying points, according to IBD Market Smith Graph analysis. The UN stockpile was unchanged on Wednesday morning.

UN stock Shows a hardness of 92 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.


4 growth stocks to watch at Cursstock market correction


Top stocks to watch: Murphy USA, Neurocrine, Vertex, WWE

Murphy USA gas station and mini-market builds a flat base with 303.19 points of purchase. Stocks pared their gains to just 0.1% on Tuesday, finding strong resistance at the 50-day line. A decisive recovery to this level will be bullish for the base-building prospects for the stock. Stocks were flat on Wednesday morning.

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Neurocrine Biosciences is attempting to hack 109.36 flat base purchase points, according to IBD Market Smith Graph analysis. Stocks topped the entry briefly on Tuesday, but closed right under the buying influence after trimming gains to 2.4%. The RS line reached a new high on Friday, which is a bullish signal. Shares were up 0.2% early Wednesday.

IBD stock leaderboard Vertex Pharmaceuticals Decisively restore the 50-day streak last week. Stocks are quickly approaching the 306.05 buy point of the flat base and are above the early entry level at 296.24. While a weak market condition may keep you on the sidelines, the stock’s resilience makes it a great idea to watch. Its RS streak is off new highs, a potential sign of an outperformance in the stock market. VRTX stock was down 0.6% in trading on Wednesday.

World Wrestling Entertainment is just 1% of entering the cup base at 75.33 after Tuesday’s 2.8% lead. The RS line continues to record new highs. WWE shares rose 0.,2% early Wednesday.


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 rebounded 2.9% on Tuesday after CEO Elon Musk’s Purchase Offer Twitter (TWTR) for $54.20 per share, according to a Bloomberg article. Tesla’s fall on Monday saw it close at its lowest level since July 18. Shares were down 1.8% on Wednesday morning.

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In recent weeks, the stock’s relative strength line has reached its highest level since April, but has fallen sharply in recent sessions. Shares are down nearly 40% from their 52-week high.

Dow Jones Leaders: Apple and Microsoft

within Dow Jones stockApple shares rose 2.6% on Tuesday, adding to Monday’s strong gains. Stocks are still nearly 20% off their 52-week highs and below their 50 and 200-day lines. Apple stock fell 1% on Wednesday morning.

Microsoft stock rose 3.4% Tuesday, extending its recovery from last week’s 52-week low. The software giant is still around 30% of its 52-week high. Microsoft shares fell 0.9 percent early on 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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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.