Dow Jones futures rose Thursday morning after key economic data. Nasdaq 100 futures fell when Meta Communication (META) crashed 23% and Alignment technology (ALGN) is as high as 19% in terms of earnings results. Apple earnings are due after the market closes.
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Meta 3rd quarter results report late Wednesday missed earnings estimates but were slightly below sales. The company reported adjusted earnings of $1.64 a share on revenue of $27.7 billion. Analysts expect Meta to report earnings of $1.90 a share on revenue of $27.4 billion, according to FactSet. Shares are set to open around 100, which would be the lowest since February 2016.
Align, the maker of Invisalign braces, reported that its sales and profits suffered a massive setback late Wednesday.
Meanwhile, US GDP (gross domestic product) and jobless claims are due for the first time at 8:30 a.m. ET. GDP grew 2.6% in the third quarter, topping estimates of 2.3% and up from a 0.6% decline in the second quarter. Initial jobless claims rose to 217,000 from 214,000 last week, slightly below estimates.
Stock Market Today: Caterpillar, McDonald’s, Merck Earnings
Other important earnings reports Thursday are Dow Jones Stocks Caterpillar (CAT), McDonald’s (MCD) and Merck (A), with Ford Motor (F), Master Card (GHOST), O’Reilly Automotive (ORLY), ServiceNow (NOW), Shopify (SHOP), Twitter (TWTR) and Wolfspeed (WOLF).
CAT shares were up 5%, McDonald’s was up nearly 3% and Merck was up 2.1% in morning trading. Ford shares fell nearly 2%. Mastercard and Twitter were mixed up immediately after the announcement of the results. Shares of O’Reilly rose about 2%. ServiceNow stock rose 14%. Shopify is up 3%, while WOLF stock is down 25% in early trading.
Giant electric car Tesla (TSLA) trading was up more than 1% on Thursday morning, while Dow Jones technology leaders Apple (AAPL) and Microsoft (MSFT) are lower than before stock market today open.
AutoZone (AZO), Cardinal Health (CAH), Eli Lilly (ONLY) and Texas Roadhouse (TXRH) – as well as Dow Jones stock UnitedHealth Group (UNH) – is one of the top stocks to buy and watch. Remember that the new stock market rally is the perfect time for investors to put their watchlists to work and hone. tower technique.
Youth rallies, especially those against bear markets, often fail. Pyramiding provides a method of gradually moving into new stock positions, to minimize risk to capital.
Cardinal and Texas Roadhouse are IBD Rankings share. UnitedHealth has been featured in this week’s Stocks Near Buy Area column, along with three top stock ideas.
Dow Jones today: Treasury yields, oil prices
Before Thursday’s opening bell, Dow Jones futures were up 1%, while S&P 500 futures were up 0.3%. Nasdaq 100 futures lost 0.2% in morning trading, with Align and Meta trading at the bottom of the list.
Between exchange fundNasdaq 100 Invesco QQQ Trust tracker (QQQ) traded down 0.2% and the SPDR S&P 500 ETF (SPY) increased by a small fraction.
The yield on the 10-year Treasury note edged higher to 4.07% on Thursday morning, cutting this week’s losses. On Monday, the 10-year Treasury note yield closed at 4.23%, settling at the highest level since June 2008 before falling two sessions later.
Meanwhile, US oil prices inched higher on Thursday, on track to add to Wednesday’s gains. West Texas Intermediate futures trade above $88 per barrel.
The stock market continues
On Wednesday, the Dow Jones Industrial Average edged higher and the S&P 500 fell 0.7%. Overall Nasdaq sold more than 2%, because Alphabet (GOOGLE) and Microsoft weigh in on the heavy tech index.
Wednesday’s Big Picture commented, “With just such a clear institutional sell-off on the books, growth investors can continue to buy great breakouts. However, with wobbly action seen over a number of days. next year, a prolonged restraint should be in both the general stock market and the top stocks in the 20% to 40% range of the portfolio.”
Now is a great time to read IBD’s Big Picture category. After Friday’s rally, investors want to put their curated watchlists to work, for possible future breakouts. But not all followings work, so it’s important to increase visibility slowly and methodically, as the new uptrend has proven itself.
Payment procedures IBD Stock Listlike IBD 50 and Stocks near the buy zonefor stock ideas.
Five Dow Jones stocks to watch now
Dow Jones Stocks to Buy and Watch: UnitedHealth
Healthcare giant UnitedHealth is approaching cup with handle 553.23 buy points, based on IBD MarketSmith . Pattern Recognition. Shares rose 0.55% on Wednesday, just because of the stock’s latest entry.
UNH stock inched lower on Thursday morning.
Top 4 growth stocks to watchrent Stock Market Rally
Top stocks to buy and watch: AutoZone, Cardinal, Eli Lilly, Texas Roadhouse
Auto parts leader and Recent IBD Stocks of the Day AutoZone remains in buy range after 2,362.34 cup base buy points, despite falling 0.7% on Wednesday. 5% Chasing Zone increased to 2,480.46. Shares of AutoZone traded up a fraction on Thursday.
IBD Rankings Cardinal Health stock just fell out of a buy range ahead of the 71.22 entry of a short mug with a handle, according to IBD MarketSmith chart analysis. The stock is also above 72.38 buy points of a fixed base. Earnings are expected for Nov. 4. CAH stock is down 0.2% early Thursday.
IBD SwingTrader Eli Lilly stock closed above its buy range above a buy level of 335.43 of a flat base, up 1.9% on Wednesday. Shares were up 0.6% Thursday morning, ahead of earnings reports next Tuesday.
Texas Roadhouse moved further above a 95.52 buy level of a flat basis while up 0.7% on Wednesday. Shares rose 1.8% in pre-market trading, ahead of the company’s earnings results late Thursday.
Join IBD experts as they analyze the top stocks in the current stock market rally on IBD Live
Tesla shares
Tesla shares rose 1% on Wednesday, gaining for the second straight session after hitting a 52-week low on Monday. Despite recent gains, the stock closed down about 46% from its 52-week high.
Shares of the EV giant were up more than 1% on Thursday morning.
Dow Jones Leaders: Apple, Microsoft
Between Dow Jones Securities, Apple stock sold down 2% Wednesday, marking a three-day winning streak. Stocks are hitting resistance around their 50-day line, which is an important level to watch. Shares of Apple fell 1.2% from the company’s earnings late Thursday.
The tech giant is expected to earn $1.27 per share on revenue of $88.7 billion.
Microsoft fell 7.7% Wednesday following the company’s earnings results. Stocks are still holding above recent 52-week lows, but have hit clear resistance at their 50-day line. The software giant is down about 34% from a 52-week high. Shares of Microsoft lost 0.5% on Thursday morning.
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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