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Dow Jones rises 300 points, but Tesla shares plunge on delivery

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The Dow Jones Industrial Average rose more than 300 points Monday morning to start the fourth quarter of 2022. Tesla stock fell after The company reported record vehicle deliveries in the third quarter Sunday, but they came in far fewer hits.




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glamorous brands (AYI), Conagra Brands (CAG), Constellation brands (STZ) And the McCormick (MKCC) among the major earnings reports this week.

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electric car leader Tesla (TSLAOn Monday, it was down 7%. tech giants apple (AAPL) And the Microsoft (MSFT) was higher yet stock market today Open. chevron (CVX) was one of the best performing indicators on the Dow, rising nearly 5% as oil prices rose in the US.

In light of the continued weakness of the stock market, double check (DV), Air hostess Trademarks (TWNK), Neurobiological Sciences (NBIX), Toro (TTC), 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. Keep in mind that an in-depth stock market correction is a time when investors sit on the sidelines and make watch lists.

DoubleVerify and Vertex are IBD Leaderboard Stores. Hostess and Toru appeared in Last week’s stock is near the buy zone bar. Neurobiological science was new IBD stock today.

Dow Jones today: Treasury yields and oil prices

After the opening bell on Monday, the Dow Jones Industrial Average rose 1.2%, while the S&P 500 rose 1.1%. The heavy Nasdaq Composite was up 0.8% in the morning’s move.

within Exchange Traded FundsNasdaq 100 Invesco QQQ Trust Tracker (QQQ(Up 0.8%, the SPDR S&P 500 ETF)spy) by 1.1%.

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The 10-year Treasury yield fell significantly to 3.69% on Monday morning. Last week, the 10-year Treasury yield briefly crossed 4%, which it hasn’t in more than a decade.

Meanwhile, US oil prices jumped 6% on Monday, with West Texas Intermediate crude futures trading at $84 a barrel. Last week, they fell to their lowest level in the year. Wednesday, OPEC + will meet Consider cutting production in order to help support falling oil prices.

stock market correction

On Friday, the Dow Jones Industrial Average sold 1.7%, while the S&P 500 closed 1.5% lower. The Nasdaq Composite Index also lost 1.5%. Market averages have now fallen for the third consecutive quarter for the first time since 2009. Meanwhile, the Dow and S&P 500 indexes posted their biggest monthly losses since March 2020.

The big picture column commented on Friday“The Leading Stock Index closed at levels last seen in November 2020 falling 1.7% for the day and 2.9% for the week, and ended September down about 9% and is now down in each of the past three weeks. nike (NKE) was the worst performer by far, down 12.8% on a quarterly results basis.”

With major stock indices at fresh correction lows, investors are still looking for another bullish attempt. Amid the ongoing selling, investors should stay in cash.

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However, it is important for investors to take advantage of this wasted time. Now is the perfect opportunity to Market bottom study and for Build a powerful watch list A high performance stock. Many long-term leaders tend to breakout on or near the follow-up day, which is the market’s signal to a bottom. Missing this early opportunity can be a costly mistake.


Five Dow Jones stocks to watch right now


Dow Jones stocks to watch: UnitedHealth

Dow Jones United Health stock continues to hold above the long-term 200-day line. The stock is building a flat base that has 553.23 buying points, according to IBD Market Smith Graph analysis. The stock’s resilience – its relative strength line hit a new high on Friday – made it Tuesday’s stock pick of 50 IBD to watch. Shares rose 0.7% Monday morning.

UN stock Shows a solid value of 95 out of a full 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.


4 growth stocks to watch at Cursstock market correction

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Top stocks to watch: DoubleVerify, Hostess, Neurocrine, Toro, Vertex, WWE

IBD stock leaderboard DoubleVerify closed just below the buy point at 28.07 at a bottom base after Friday’s 1.5% drop. According to the leaderboard’s comment, DoubleVerify found support near the 50-day line and has a relative strength line at new highs. Shares were down 0.8% on Monday.

Hostess Brands, maker of Twinkie, clings to a 23.23 point purchase of a cup with a handle, according to IBD Market Smith Graph analysis. To the upside, Hostess’ RSI line continues to make new highs. Keep in mind that a weak market trend should keep you on the sidelines, but it’s one of the most important stocks to watch. On Monday, the stock rose 0.5%.

Neurocrine Biosciences is still building a flat base that has 109.36 pts. Stocks decisively retraced the 50-day streak during Friday’s 3.4% jump. The RS line reached a new high last week. Shares were down 0.4% on Monday.

Toro stock in flat base and about 5% away from 92.05 point purchase. Shares fell more than the 50-day line after Friday’s 0.4% drop. The RS line is at new highs. Toro shares were trading 0.6% higher on Monday.

Vertex Pharmaceuticals Decisively restore the 50-day streak Last week it forms a flat base at 306.05 buy points and early entry at 296.24. Inventory flexibility makes it a great idea to keep an eye on. Shares rose 0.4% on Monday.

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World Wrestling Entertainment continues to build a flat base that has entry 75.33. The stock is back above the 50-day line and about 7% away from the buy point. WWE shares rose 0.85% early Monday.


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


Tesla Stock

Tesla shares It fell another 1.1% on Friday, closing at its lowest level since July 26. Stocks fell sharply below the 50-day line. Tesla shares fell 7% Monday morning after it missed estimates for delivery.

Tesla delivered 343,830 electric vehicles in the third quarter, an increase of 42% over the previous year and surpassing the first-quarter record of 310,048. It was also 35% higher than 254,695 in the second quarter. The Shanghai factory faced prolonged shutdowns and a slow recovery in the second quarter due to the Covid shutdown.

But analysts expected Tesla to deliver 350,000 to 370,000, with the consensus just above 360,000. Tesla indicated an increase in the number of passing vehicles. But this may reflect weak Chinese demand, spurring an earlier-than-usual export boost from Shanghai.

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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 nearly 40% off their 52-week high.

Dow Jones Leaders: Apple and Microsoft

within Dow Jones stockApple shares fell 3% on Friday, extending the losing streak into three sessions and plunging to their lowest level since June 30. Apple stock rose 0.5% on Monday morning.

Microsoft stock fell 1.9% on Friday, hitting a 52-week low. The software giant is more than 33% from its 52-week high. Microsoft shares rose 1% early Monday.

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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© Bloomberg LP 2022

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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.