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Dow Jones futures rose 250 points on steady CPI inflation data; Fed minutes later


Dow Jones futures briefly rallied more than 250 points Wednesday morning on weaker-than-expected inflation data, with the release of the Consumer Price Index. After that, minutes of the Federal Reserve’s latest policy meeting will be released in the afternoon.




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The Labor Department’s March CPI inflation report showed CPI rose 0.1% on the month, well below the 0.3% monthly gain expected by Wall Street. Compared to the same period last year, CPI increased by 5%, below the estimate of 5.2%. Core prices, which exclude food and energy, rose 0.4% on the month, with a one-year gain of 5.6%, both in line with Wall Street estimates.

Meanwhile, first quarter earnings season dim like JPMorgan Chase (JPM), Citigroup (OLD), Wells Fargo (WFC) And Financial PNC (PNC) kicks off bank earnings on Friday. Furthermore, Delta Airlines (OBTAIN) will report on Thursday and UnitedHealth (UNH) earnings are announced on Friday.

Stock market today

American Airlines (AAL) fell more than 2% after providing a first-quarter update on earnings and sales. electric car giant Tesla (TSLA) rose 2.2% in morning trading.

tech giant Dow Jones Apple (AAPL) And Microsoft (MSFT) higher before the stock market opens today.

The year below (YEAR), IBD Leaderboard Watchlist Floors & Decorations (FND), service now (CURRENTLY) And Vertex Pharmaceuticals (VRTX) — as well as Dow Jones stock Boeing airplanes (father), Cisco system (CSCO) And Passport (DRAW) — among the top stocks to buy and watch given the ongoing market strength.

Floor & Decor and Visa were introduced this week Stocks near the Buy Zone column.


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Dow Jones today: Oil prices, Treasury yields

Before Wednesday’s opening bell, Dow Jones futures were up 0.6 percent from fair value, while S&P 500 futures were up 0.7 percent. Tech-heavy Nasdaq 100 futures were up 0.8% in morning trade.

Between us exchange-traded fundsNasdaq 100 Invesco QQQ Trust tracker (National Assembly member) rose 0.8%, while the SPDR S&P 500 ETF (spy) was up 0.7% early on Wednesday.

Yields on the 10-year US Treasury note traded down to 3.35% on Wednesday. Last week, 10-year yields hit their lowest levels since mid-September, but are recovering this week.

U.S. oil prices added to Tuesday’s gains, rising more than 1% in early Wednesday morning trading. West Texas Intermediate futures rose above $82 a barrel. The Energy Information Administration’s weekly oil stockpile will run out at 10:30 a.m. ET.

Stock market recovers

On Tuesday, the Dow Jones Industrial Average rose 0.3%, while the S&P 500 fell slightly. The tech-heavy Nasdaq composite index fell 0.4 percent.

Tuesday’s Big Picture Category commented: “Selling has never been so strong on Nasdaq, when it closed 0.4% lower. Wide-followers like the fact that the winners have a slight edge over those who follow the breadth. But higher trading volume on Nasdaq helped the index to come in second distribution date.”

Now is a great time to read IBD Big Picture Column with the stock market in an uptrend.


Five Dow Jones stocks to buy and watch now


Dow Jones stocks to buy and watch: Boeing, Cisco Systems, Visa

Dow Jones leader Boeing is getting close to a flat sole 221.43 buy pointsbased on IBDSmith Market pattern recognition. Shares fell 0.1% on Wednesday, just 5% off the latest entry.

Cisco Systems continues to drop below 51.84 . flat base buy points amid a 1.4% drop on Tuesday. CSCO stock topped the list as of March 31. Shares were up 0.3% Wednesday morning.

visa stocks moves closer to a 234.40 buy point of the cup base, up 0.9% on Tuesday. V stock rose slightly early Wednesday.


Top 4 growth stocks worth watching Stock market recovers


Top stocks to buy and watch: Five Below, Floor & Decor, ServiceNow, Vertex

The year below rallied 0.2% on Tuesday, adding to Monday’s breakout surge past a 212.66 buy point in a flat base. Shares are in the 5% buy zone up to 223.29. Shares lost 0.4% on Wednesday morning.

plot: On March 15, Philadelphia-based Five Below, which operated 1,292 teen- and 12-year-old-focused discount stores in 42 states, closed in 2022 with income and beat sales. In the fourth quarter, Five Under earnings rose 23% to $3.07 a share, ending a three-quarter streak of year-over-year declines.

IBD Rankings Stocks on the Deck & Decor watchlist have moved an impressive distance from a 99.47 buy point of the mug with handle. Shares were up 0.3% early Wednesday.

plot: Floor & Decor operates 191 warehouse stores and six design studios across 36 states. It sells tile, laminate, laminate, vinyl and natural stone flooring products. It also sells decorative accessories. Earnings are expected to fall 2% this year before rising to 27% in 2024 and 24% in 2025.

IBD SwingTrader pick ServiceNow continues to move up the right side of the cup base with a 494.72 buy point. The potential handle is one day away from forming, which will show a 482.43 buy point. NOW stock fell slightly Wednesday morning.

plot: ServiceNow software monitors and manages the services provided by the IT department. In addition, its self-service technology portal allows workers to access administrative tools and workflow.

Vertex Pharmaceuticals continues to trade just below the cup base’s 325.29 buy point. VRTX stock was flat Wednesday morning.

plot: Vertex Pharmaceuticals research and develop medical treatments for cystic fibrosis, sickle cell disease, muscular dystrophy, kidney disease, and type 1 diabetes.


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Stocks to buy and watch as the stock market recovers

These are the top four stocks to watch in the stock market today, including the top two Dow Jones stocks.

Company name Icon Exact point of purchase Type of point of purchase
service now (CURRENTLY) 494.72 cup base
Nike (NKE) 131.41 flat sole
Passport (DRAW) 234.40 cup base
Cisco system (CSCO) 51.84 flat sole
Source: IBD Data as of April 11, 2023

Join IBD experts as they analyze the top stocks in the current stock market rally on IBD Live


Tesla shares

Tesla shares recovered 1.2% on Tuesday, breaking a 5-day losing streak. Last week, the stock triggered the 7%-8% loss rule from a buy point at 200.76 in a cup with a handle. And they plummeted below the 50-day line, a support level. Shares closed Monday down 49% from their 52-week high.

TSLA stock was up 2.2% Wednesday morning, looking to add to Tuesday’s gains.

Leading Dow Jones: Apple, Microsoft

Between Dow Jones stockShares of Apple fell 0.8% on Tuesday, extending Monday’s losses. AAPL stock traded up 0.7% early Wednesday.

Microsoft stock remains above the flat base model’s 276.86 buy point, despite Tuesday’s 2.3% sell-off. The 5% buy zone goes from the buy point to 290.70. MSFT stock was up 1% in Wednesday morning trading after Wedbush raised its price target on the stock from 290 to 315, retaining an outperform rating.

Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones Industrial Average.

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