Dow Jones futures traded lower Wednesday morning ahead of the minutes of the Federal Reserve’s recent policy meeting. Metaplatforms (META) is preparing its Twitter rival, called Threads, for its Thursday debut.
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On Wednesday, Fed minutes are due out at 2 p.m. ET. They could shed light on why policymakers’ projections listed two more rate hikes.
Later this week, the Labor Department’s jobs report on Friday is in the spotlight. Economists predict a gain of around 200,000 jobs and a drop in the unemployment rate to 3.6%.
stock market today
Meta stock fell slightly in morning trading. His Threads website, which has been called a “Twitter killer”, will launch under the umbrella of social media site Instagram. Although it won’t debut until Thursday, the web interface is now available for exploration.
Electric vehicle giant You’re here (TSLA) fell 0.6% on Wednesday morning. Dow Jones tech giants Apple (AAPL) and Microsoft (MSFT) were squarely lower ahead of today’s stock market open.
Other leaders in the stock market rally include Google-parent Alphabet (GOOGL). Alphabet shares fell 0.5%.
Chipotle Mexican Grill (GCM), Dynatrace (DT), MongoDB (MDB), Research (LRCX) and Nvidia (NVDA) – as well as Dow Jones stocks JPMorgan Chase (JMP), Visa (V) and Selling power (CRM) – are among the best stocks to watch in the continued rise of the stock market.
Tesla is an IBD Leaderboard stock, Lam Research remains an IBD SwingTrader stock, while Nvidia was listed in the Stocks Near A Buy Zone column this week. Dynatrace was a recent IBD Stock of the Day.
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Dow Jones Today: Oil Price, Treasury Yields
Heading into Wednesday’s opening bell, Dow Jones futures fell 0.5% from fair value. S&P 500 futures fell 0.45%, while Nasdaq 100 futures fell 0.45% in morning action.
Among U.S. exchange-traded funds, the Nasdaq 100 tracker Invesco QQQ Trust (QQQ) traded down 0.6%, while the SPDR S&P 500 ETF (SPY) lost 0.5% early Wednesday.
The 10-year US Treasury yield rose to 3.86%. The 10-year rate is testing its recent highs, established at the end of May. The yield was higher on Monday at 3.85%.
Oil prices rebounded on Wednesday morning, after a slight decline on Monday. West Texas Intermediate futures rose about 2% to over $71 a barrel.
On Monday, oil prices fell, despite news that Saudi Arabia announced it would extend its production cuts until August, and Russia announced a 500,000 barrel per day production cut on Monday. next month. The OPEC meeting begins on Wednesday.
Market share
On Monday, the S&P 500 edged up 0.1%, while the Nasdaq composite added 0.2%. Both posted their highest close since April 2022. The Dow Jones Industrial Average was nearly flat but still hit its highest close since Dec. 2.
Monday’s Big Picture column commented: “The composite’s (Nasdaq) six-month gain of 31.7% was the best first half of any year since 1983, according to Dow Jones Market Data. The Nasdaq 100 focused on large capitalization jumped 38.8%, for its best first half in history.”
Now is an important time to read IBD’s The Big Picture column as the stock market continues near this year’s highs.
Five Best Dow Jones Stocks to Buy and Watch Now
Dow Jones stocks to watch: JPMorgan, Salesforce, Visa
Dow Jones banking leader JPMorgan broke above a fixed base buy point of 143.37 in Monday’s gains. The 5% buy zone rises to 150.54. JPM stock fell 0.2% on Wednesday morning.
Salesforce managed to stabilize after falling after earnings. It is currently testing support on the 50 day line. Tech megacap previously topped a pair of alternative entries at 194.01 and 200.10, according to IBD Leaderboard analysis.
Over the past few weeks, shares have reached the 20% profit zone from an entry of 178.94 cup with handle. CRM stock fell 0.6% on Wednesday morning.
Payments leader Visa traded above the buy point of 235.57 on Monday, with a gain of 0.2%. The buy range peaks at 247.35. V stock fell 0.3% early Wednesday.
4 best growth stocks to buy and watch in the market Stock market rally
Best stocks to buy and watch: Chipotle, Dynatrace, MongoDB, Lam Research
The IBD Leaderboard Chipotle watchlist stock is trying to break above the buy point of 2,139.88 from the flat base, according to IBD MarketSmith pattern recognition. An early entry at 2,092.51 was also available due to a trendline. Chipotle was a recent IBD Stock of the Day. CMG stock fell a fraction on Wednesday morning.
Software maker Dynatrace formed a tight three-week chart pattern, representing a brief consolidation in which institutional investors paused their buying. The shares are around 3% off their last entry at 52.99. DT stock was down 0.6% on Wednesday morning.
IBD SwingTrader Lam Research stock broke an early buy point of 615.80 and a tight three-week setup with an entry of 630.72 on last week’s gains. LRCX stock traded down 0.8% on Wednesday morning.
MongoDB traded tight after its recent earnings-fueled jump, which offered fresh entry. Stocks are above the tight three-week formation that showed a buy point at 398.89, while aggressive investors could have used a trendline entry around 386. MDB stock fell 0.7% on Wednesday morning.
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Best stocks to buy and watch during the stock market rally
These are the four best stocks to buy and watch in today’s stock market, including a leader in the Dow Jones.
| Company Name | Symbol | Correct point of purchase | Point of purchase type |
|---|---|---|---|
| ASML | (ASML) | 683.18 | Mug with handle |
| Selling power | (RCMP) | 200.00 | Consolidation |
| Cloudy | (NET) | 66.20 | Double bottom |
| Roku | (ROKU) | 75.45 | Mug with handle |
Source: IBD data as of July 5, 2023
Join IBD experts as they analyze the top stocks of the current stock market rally on IBD Live
Tesla Stock
IBD Leaderboard Tesla stock extended a winning streak to five sessions on Monday after the company said it delivered more than 466,000 vehicles to customers around the world in the April-June period, a record quarter for the sales. Price cuts and discounts propelled demand well above Wall Street forecasts.
Amid the recent rebound, Tesla shares remain significantly out of the buy range past the 207.79 double-bottom buy point.
TSLA stock threatened to give up some of Monday’s gains, falling 0.6% on Wednesday.
Dow Jones Leaders: Apple, Microsoft
Among Dow Jones stocks, Apple stock faded from Friday’s high at 194.48, down 0.8% on Monday. Stocks continue to hold strong above a buy point of 157.38. Early Wednesday, shares were down 0.5% in morning action.
Microsoft shares shed 0.75% on Monday, returning some of Friday’s gains. Still, the stock is just 4% off its June 16 all-time high at 351.47.
Over the past few weeks, the stock has reached the 20%-25% profit zone from a fixed base buy point of 276.76, so investors could have taken at least some profit there. . And on Wednesday morning, Microsoft shares were down 0.7%.
Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen to learn more about growth stocks and the Dow Jones Industrial Average.
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