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Dow Jones rallies; Tesla shares fight back, Elon Musk’s joke; WWE Gorilla stock moves higher


The Dow Jones Industrial Average rallied on Friday’s positive news. phone (TSLA) managed to reverse higher after an early plunge. World wrestling entertainment (WWE) spiked when Vince McMahon returned. Apple (AAPL) and clever (INTC) are the blue-chip winners.




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A trio of promising stocks are among those that are testing buy points. ELF beauty (ELF), caterpillars (CAT) and Rio Tinto (RIO) are all impressive when moving the above items.

Employment Data, Economic News Drive Stocks

Indices spiked after Friday’s jobs report and weak economic data.

Nonfarm payrolls rose 223,000 in December, well above estimates of 200,000. But wages rose slightly more than expected. Average hourly earnings are up 4.6% from a year ago, while analysts are predicting a 5% increase. The unemployment rate fell to 3.5%, the lowest since 1969.

The easing of wage growth is seen as a positive measure in the fight against inflation. But it’s also just a step in the right direction and more progress will be needed. At this stage, it won’t be enough to prevent the Fed from making additional rate hikes.

The Institute of Supply Management’s Services Index added support to the stock, which fell below 50 for the first time since May 2020. The level was surprisingly weak.

The rate of a 25 basis point increase at the Fed’s February 1 meeting rose to 76% following the report, according to CME FedWatch.

Nasdaq soars, small caps shine

Nasdaq performed best among the major indexes, up 2.6%. The Old Dominion Transit Line (ODFL) shines with a 6.8% increase.

The S&P 500 also impressed with a 2.3% gain. Costco (PRICE) led the uptrend with a 7.3% gain following a positive sales report.

11 S&P 500 All industries are positive. Materials and technology were strongest while medical stocks posted the lowest gain.

The small-cap also had eye-catching performances, with the Russell 2000 index closing up 2.3%.

Growth stocks also edged higher, with the Innovator IBD 50 ETF (FFTY) increased by 1.4%.

Dow Jones today: Apple shares rise, Intel leads

The Dow Jones Industrial Average edged higher. It scored about 700 points, or 2.1%.

Apple (AAPL) had a strong day up 3.7%. This makes it one of the index’s top performers.

But it was chip giant Intel that posted the biggest gain, up 4.2%. Dow (down) and Boeing airplanes (father) not far behind.

WWE Stock Explodes as Vince McMahon Moves

World Wrestling Entertainment flew higher than an Ultimate Warrior gorilla on Friday, up 17%. Even this is not high for the day.

It is bolstered by news that the company is welcoming founder Vince McMahon to its board of directors.

McMahon, who previously appeared on screen as part of the franchise’s colorful cast of characters, stepped down as CEO last year amid an investigation into the allegations. sexual misconduct.

Svengali wrestling and major shareholder could be set to make the key decision, after the Wall Street Journal reported he would return to pursue a potential sale of the company.

WWE stock has crossed its 50-day moving average but currently has no entry point.

Tesla stock reversed higher; Jokes of Elon Musk

Tesla stock finally found a footing as it reversed higher on Friday.

It has veered out of the negative territory with a 2.5% gain but remains apprehensive about its key moving averages.

Tesla stock was initially affected by the news that the company was cutting prices on Model 3 and Model Y vehicles in Asia.

Before that, it made a new 52-week low at 102.17. Stocks closed Tuesday at their lowest since August 13, 2020, down about 73% from their 52-week high following disappointing sales data.

Tesla CEO Elon Musk has been fired for allowing his Twitter takeover to distract him from his electric vehicle business.

He appeared to joke about his current predicament on social media. “If I dig the grave deep enough, it might come out to the other side of the Earth,” he tweeted.


The market took a big step forward, these 9 stocks have a quick buy signal; Tesla’s price war in China


BIIB stock pops on approval for Alzheimer’s disease

biological (BIIB) stock was halted late Friday before appearing after the Food and Drug Administration Approves second Alzheimer’s treatment.

Approval of the product, now known as Leqembi, is expedited, meaning it depends on further testing.

Analysts see potential for a major blockbuster. In a November report, RBC Capital Markets analyst Brian Abrahams said Leqembi could generate $400 million in worldwide revenue by 2024, growing to $5 billion in 2027 and $10 billion. la in 2031.

Biogen ended the session up 2.8%. Partner Eisai (ESALY) increased by 4.6%.

Outside of the Dow Jones: 3 stock checks

ELF Beauty is in a buy zone after it spiked above a flat base buy point of 57.03. This is a second phase facility, an active one.

The company’s products are especially popular with younger consumers. A recent report by Piper Sandler ranked ELF as the top teen favorite cosmetic brand.

Industrial machinery giant Caterpillar cleared a flat base entry of 239.95.

Recently, the relative strength line has moved well, a good sign. Solid earnings are reflected in an EPS Rating of 85 out of 99.

Both CAT and ELF have earned their spot on the IBD Leaderboard’s prestigious list of stocks due to their bullish behavior and stellar overall performance.

Shares of Rio Tinto have moved into a buy zone after clearing the cup-with-handle entry point of 73.34.

An Anglo-Australian company operating in a wide range of metals and minerals. Its main focus is iron ore, a key ingredient in steel production.

Steel demand could be set to pick up, with China rushing to reopen following its draconian Covid-free policy.

Rio Tinto ranks among the top 8% of stocks over the past 12 months in terms of price performance, reflecting optimism about the future outlook.

Please follow Michael Larkin on Twitter at @IBD_MLarkin for more analysis on growth stocks.

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