Dow Jones futures rose on jobless claims; Inflation Data Next; Tesla stock is about to hit a 2022 low

Dow Jones futures rose on Thursday morning as energy shares and China-related issues boosted early trading. Data on weekly jobless claims from the Labor Department is released before opening. On Friday, wholesale inflation data will be released alongside the Producer Price Index, or PPI. Tesla shares fall nearly 2% after Bloomberg reported The company shortened shifts at its Shanghai factory and delayed new hires due to slowing demand in the Chinese auto market.


Initial jobless claims were filed at 8:30 a.m. ET. Initial requests rose to 230,000 from 225,000 last week, well above the consensus estimate of 228,000.

letter V (CVX) led the Dow Jones Industrial Average, gaining 1% as oil prices rebounded and after posting a 25% increase in capital spending in 2023. ExxonMobil (XOM) posted 1.8% higher growth thanks to expanded earnings guidance and after increasing its share buyback program to $50 billion.

Meanwhile, Ciena (FIRE), game stop (GME) and Manchester United (MANU) are the ones reporting earnings before the market opens on Thursday.

Ciena spiked more than 18%. GME stock was essentially flat after it reported lower quarterly sales and fewer losses than it did a year ago. Finally, MANU stock was flat ahead of the company’s results Thursday morning.

giant electric car Tesla (TSLA) traded down 2% on Thursday. Dow Jones Technology Leader Apple (AAPL) and Microsoft (MSFT) is premixed stock market today open.

poison (CELH), IBD Rankings share Dexcom (DXCM), KLA (KLAC) and Trane technology (TT) — as well as the name of Dow Jones caterpillars (CAT), Chevron and warehouse at home (HD)— among the top stocks to buy and watch.

Dexcom and Trane are IBD Rankings share. Caterpillar and Home Depot has been featured in this week Stocks near the Buy Zone column. degrees Celsius is a recent time IBD 50 stocks to view options and a New America share. Caterpillar is a recent IBD shares of the day.

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Dow Jones today: Oil prices, Treasury yields

Before Thursday’s opening bell, Dow Jones futures were up 0.5 percent from fair value, while S&P 500 futures were up 0.6 percent. Tech-heavy Nasdaq 100 futures were up 0.65% in morning trade as China-based stocks took the top of the list.

Between exchange-traded fundsNasdaq 100 Invesco QQQ Trust tracker (National Assembly member) rose 0.55% and the SPDR S&P 500 ETF (spy) rose 0.5% early Thursday.

The yield on the 10-year Treasury note edged higher to 3.46% on Thursday morning. On Wednesday, the 10-year Treasury yield fell to 3.4%, its lowest close since September 12.

Meanwhile, US oil prices have recovered from four consecutive heavy declines, sending West Texas Intermediate futures to a new low in 2022. WTI futures traded up 2.4% up above $74 a barrel early Thursday.

Stock market recovers

On Wednesday, the tech-heavy Nasdaq composite fell for a fourth straight session, while the S&P 500 extended its losing streak to five sessions. The Dow Jones Industrial Average inched higher to break a three-day losing streak.

Wednesday’s The Big Picture Category commented: “The bulls need broader participation to survive. That hasn’t happened in the most recent recovery attempt, at least so far, so an investment may be needed. The inverted yield curve seems to support this view, predicting weaker economic conditions in 2023.”

Now is a great time to read IBD . Big Picture Column in the context of stock market volatility.

Five Dow Jones stocks to buy and watch now

Dow Jones Stocks to Buy and Watch: Caterpillar, Home Depot, Chevron

Dow Jones member Caterpillar continues to drift further than the cup base 238 buy points, based on IBD MarketSmith . Pattern Recognition, after gaining 0.3% on Wednesday. CAT stock edged higher on Thursday.

CAT stock shows 94 sure out of 99 perfect IBD Composite Ratings, according to Check out IBD stock.

Energy giant Chevron up 0.3% Wednesday, still below the 182.50 buy point in a consolidated basis. Stocks are trying to stem the current slide around their 50-day line. CVX stock was up 1% Thursday morning, as oil prices rebounded amid this week’s decline.

Home improvement retailer Home Depot has ended Wednesday about 5% below the cup base’s 333.08 buy point. The stock is about to add a handle to the base of the cup, which would bring down the exact buy point to 329.77. HD stock traded unchanged on Thursday.

Top 4 growth stocks to watch in the near futurerand the stock market recovered

Top stocks to buy and watch: C, Dexcom, KLA, Trane

Energy drink maker Celsius triggered a 7%-8% drop from the cup base’s 118.29 buy point during Wednesday’s slide. While the stock could add a handle to the cup base, investors who bought in Friday’s breakout move should reduce their exposure. Shares were flat on Thursday.

IBD Rankings Dexcom stock is getting close to a flat base entry at 123.46 and about 4% away from that buy points after Wednesday up 0.9%. Dexcom stock was up 0.4% early Thursday.

Chip leader KLA ended Wednesday just below a 392.60 buy point, according to IBD MarketSmith . chart analysis. The key technical strength is the stock’s strong RS line, which hit another new high in Wednesday’s action. KLA stock was unchanged on Thursday.

Trane Technologies ended Wednesday about 3% below a 181.72 buy point in cup-with-handle after gaining 1.2% during the session. Stocks were inactive on Thursday morning.

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

Tesla shares

Tesla shares slip 3.2% more Wednesday, fell sharply for the third consecutive session. Shares have fallen more than 10% this week.

Despite the losses, the stock is holding above a 52-week low, set in mid-November. Shares are down about 57% from their 52-week high. Meanwhile, the stock seems to be encountering some resistance around the 200 price level, which is an important area to watch to see if the stock can make another upside attempt. For now, it looks like the stock is heading back to its 2022 low.

Shares fell 2% Thursday morning to about 171 a share, just a few points above a 52-week low of 166.19.

Leading the Dow Jones: Apple, Microsoft

Between Dow Jones stockApple stock sold off 1.4% Wednesday, hit recent lows and continued to fall below their 50-day line. Shares are down about 23% from their 52-week high. Apple shares traded up 0.8% on Thursday.

Microsoft down 0.3% Wednesday, as the stock continues to move above the 50-day line. The software giant is still down about 30% from a 52-week high. Shares of Microsoft fell 0.3% early Thursday.

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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