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Dow jumps again on Fed hopes; Twitter shares rocky rises as Tesla’s Elon Musk surrenders

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Overnight Dow Jones futures were little changed, along with S&P 500 futures and Nasdaq futures. The stock market’s bullish bid continued on Tuesday, as Treasury yields and the dollar tumbled amid hopes that the Federal Reserve might slow down interest rate hikes. TWTR stock jumps as Tesla CEO Elon Musk agrees to go ahead with $44 billion Twitter (TWTR) takes over.




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Major indicators are moving higher, but they have not regained key levels or confirmed a new bullish attempt yet.

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Megacaps apple (AAPL), Microsoft (MSFT), a parent of Google the alphabet (The Google) And the Amazon.com (AMZNAll of them made strong gains. But only Microsoft stock closed above its 21-day moving average.

Leading stocks are showing positive action. Arista Networks (Network), Energy Enphase (ENPH), Paylocation (PCTY), on semiconductors (on me) And the Devon Energy (DVN) All in or approaching early buy points. If the market rally continues to gain momentum, these stocks should be actionable. Everyone has Lines of relative force At or near altitudes.

Paylocity stock on IBD Leaderboard Watch List Tuesday’s stock was from IBD. Microsoft and Google stock on Long-term leaders of IBD existing. Enphase, On Semiconductor and DVN stock on List of 50 IBD. The stock of ENPH, Onsemi and Arista Networks is located in IBD Big Cap 20.

The video included in this article highlights market action on Tuesday and analyzes PCTY, On Semiconductor and . stocks Neurobiological Sciences (NBIX).

Elon Musk says he’ll go ahead with Twitter deal

Musk agreed to move forward With Twitter’s $44 billion deal, valued at $54.20 per share. Lawyers for Musk and Twitter are scheduled to meet in an emergency Delaware court hearing in Chancery Tuesday night to discuss how to ensure the deal goes through.

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The Musk-Twitter saga isn’t quite over. Twitter has not accepted Musk’s latest terms, which make no real guarantees about his stated intention to move forward with the term. However, Musk may officially own the social networking site in a few days.

Musk’s Twitter trial was set to begin on October 17, with the Tesla CEO being seen as very likely to lose.

Twitter stock, which has been on hold for most of the session, rose 22% to 52 as Musk slipped. While TWTR stock traded well below the $54.20 buyout price, it significantly outperformed parent Facebook. meta pads (dead) And the Explode, Explode (Explode, Explode) in the past months.

Twitter stock is down 1% in active trading after the close.

Tesla (TSLA) rose 2.9% to 249.44, pulling back from intraday highs of 256.89 following the latest Musk-Twitter news. Investors may be wondering whether Musk will sell shares of TSLA to pay for the Twitter deal, even though he has already sold shares with the Twitter deal as the reason. In the long run, Tesla stock investors may fear Musk’s interest is split further from the EV giant as he adds Twitter to his portfolio of companies. However, TSLA investors may be pleased to have the Musk-Twitter acquisition saga of the past.

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Dow jones futures contracts today

Dow futures were down 0.1% against fair value. S&P 500 futures were down 0.1%. Nasdaq 100 futures tilted higher.

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 followed Monday’s advance with solid gains on Tuesday, although major indexes retreated from intraday highs.

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The Reserve Bank of Australia raised interest rates for the sixth consecutive month, but only unexpectedly by 25 basis points. This came on the heels of the Bank of England’s resumption of bond buying last week as the new British government’s budget disrupted the pound and UK debt.

The bid for a rally gained momentum at 10AM ET after a JOLTS report showed that job opportunities fell sharply in August, well below consensus. Federal Reserve Chairman Jerome Powell specifically referred to job openings as too high. While editorials and the number of workers leaving work remain high, the trend is Fed-friendly. On Friday, the Ministry of Labor will release September jobs report.

The Dow Jones Industrial Average rose 2.8% on Tuesday stock market trading. The S&P 500 jumped 3.1%. The Nasdaq Composite Index jumped 3.3%. Small cap Russell 2000 rose nearly 4%.

Shares of Apple rose 2.6%, while shares of Microsoft rose 3.4%. Both are members of the Dow Jones, S&P 500 and Nasdaq. Google stock jumped 3% while Amazon stock rose 4.5%. It all added to Monday’s solid gains, but it needs a lot of repair work.

US crude oil prices rose 3.5% to $86.52 a barrel. OPEC+ meets on Wednesday, with reports that the organization may cut production by one to two million barrels per day.

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Gasoline futures jumped 6.8%, indicating another increase at the pump. Natural gas futures rose 5.7%.

The 10-year Treasury yield fell 3 basis points to 3.62%, after falling 15 basis points on Monday. For the second day in a row, the 10-year bond yield found support at the ascending 21-day line.

ETFs

between the Best ETFsThe Innovator IBD 50 ETF (fifty) gained 3.4%. iShares Expanded Technology and Software Fund (ETF)IGV) rose 3.8%, as MSFT stock was IGV Holdings Inc. VanEck Vectors Semiconductor Corporation (SMH) rose by 4.3%.

SPDR S&P Metals & Mining ETFs (XME) by 3.8%. US Global Gates Foundation (ETF)Planes) rose 7.1%. SPDR Specific Energy Fund (SPDR ETF)XLE) added 4.3%. SPDR Healthcare Sector Selection Fund (XLV) rose by 2.3%.

Shares reflect more speculative stories, the ARK Innovation ETF (see you) and the ARK Genomics ETF (ARKGBoth are up 7.6%. Tesla stock is one of the most important things that Ark Invest ETFs own.

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Stocks near the points of purchase

ANET stock rose 4.3% to 120.81, reclaiming its 200-day and 50-day lines, although volume was light. A decisive move above the 50-day line is likely to break a short downtrend. Arista stock is working on 132.97 buy pips of consolidation within a much longer base.

ENPH stock rose 0.6% to 288.55, but is down from 297.67 on the day. At its highest levels, Enphase stock retraced the 50-day and 21-day lines and broke through a short downtrend.

PCTY stock rose 3.55% to 252.33, rebounding from the 50-day streak in solid volume. Paylocity stock is on trend line entry, with a move above the September 28 high of 253.26 as a potential specific trigger point. according to MarketSmith Analysis.

ON stock jumped 6.4% to 68.92, reclaiming the 50-day streak, although trading was slightly below average. More strength could be seen onsemi shedding a trend line inside a new consolidation alongside a previous deeper base.

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DVN stock rose 5.7% to 69.07, up from 50 days ago as it works on cup base with handle And 75.37 buy points. Devon’s arrow approaches a trend line inside the handle.


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Market Rise Analysis

The stock market’s bull run continued, with strong gains again for the major averages. The Dow, S&P 500 and Nasdaq Composite rose above the 10-day moving average and approached the 21-day lines. The small-sized Russell 2000 kept driving and has already recovered 21 days.

All indicators still have some distance to reach their descending 50-day and 200-day moving averages, with mid-August tops forming another major resistance area.

Megacaps like Apple stocks are doing their part this week, but they still have a long way to go.

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However, the blue-chip stocks outperform the major indices, with many stocks cracking, flashing early entries or moving into position for potential entries.

It could be argued that the stock market was due to a rebound. Clearly, declines in Treasury yields and the dollar helped drive this week’s gains in stocks. But if yields and the dollar resume their bullish trend, the market rally could quickly fade away.

While stocks rise on hopes the Fed will slow the pace of rate hikes, markets continue to price a fourth 75 basis point hike in November and a half point move in December.

Tuesday was the second day of the stock market rally for the Dow, S&P 500 and Nasdaq indices. a Follow-up day It could come later this week to confirm the new uptrend.

Some would argue that the Russell 2000 and S&P MidCap 400 staged “follow-up days” on Tuesday. It is a positive sign, but it will not lead to a change in the direction of the market. why? The success rate of FTDs is low not including Dow Jones, S&P 500 and Nasdaq.

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A confirmed market rally may only signal the beginning of a tradable bear market rally against a long-term uptrend. The 50 day and 200 day lines will be the key levels to watch after the FTD.


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What are you doing now

An attempt to rally in the stock market is gaining momentum, with a number of leaders making flashing buy signals. Investors can take some demo positions in some of the broad market stocks or ETFs. But anyone who jumps early should be prepared to jump at the same speed if the market recovery falters.

There is still nothing wrong with being almost or all cash.

But it is definitely a good time to work on your watch lists and pay close attention to the market. Look for high quality stock in action or soon.

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Read The Big Picture Every day to keep up with the trend of the market, stocks and leading sectors.

Please follow Ed Carson on Twitter at Tweet embed For stock market updates and more.

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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.