March 30, 2023

Brighton Journal

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Dow fell 260 points ahead of Fed meeting, big gains; What are you doing now

Dow futures rose in extended trading after the Dow Jones Industrial Average fell 260 points on Monday. The Fed policy meeting makes the headlines for the week, along with the big earnings results from Amazon (AMZN), an Apple (AAPL), the alphabet (The Google) And identification platforms (meta).




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Fed meeting, big earnings results

The Fed’s two-day meeting will begin on Tuesday, and the central bank is widely expected to raise its target Fed rate by 25 basis points, to a range of 4.5% to 4.75%. Investors are placing a probability of 99% at that size, according to FedWatch CME.

Late Monday, Apple supplier NXP Semiconductor (nxpi) fell 4.5% in extended trade after the release of its fourth-quarter earnings results.

Meta earnings are due late Wednesday, while earnings for Alphabet, Amazon, and Apple are scheduled for Thursday after the close.

More major earnings this week include: advanced micro devices (AMD), Exxon Mobil (xom), a Dow Jones member merck (Mrk) And Starbucks (SBUX). Automotive companies stronghold (F) And general motors (GM) also due to report.

stock market today

On Monday, the Dow Jones Industrial Average fell 0.8%, and the S&P 500 fell 1.3%. The tech-heavy Nasdaq Composite sold 2%. in between Exchange money tradedNasdaq 100 Invesco QQQ Trust Tracker (QQQ(down 2% and the SPDR S&P 500 Index)spy) decreased by 1.2%.

electric car giant Tesla (TSLA) fell 6.3% on Monday. in between Dow Jones stockAnd an Apple (AAPL) decreased by 2% and Microsoft (MSFT) decreased by 2.2% in stock market today.

IBD Leaderboard Inventory imping (PI), etsy (ETSY) And wing stop (wing) – as well as Dow Jones shares chevron (CVX) And c. B. Morgan Chase (JPM) – among the top stocks to buy and watch, with the market’s bull run still going strong.

impinj is IBD Leaderboard Inventory. etsy It was recent IBD stock today. Impinj and Wingstop are featured in This week’s stocks are near the buy zone bar.

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Dow futures today: oil prices, treasury yields

Before the opening bell on Tuesday, Dow Jones futures were up 0.15% against fair value, and S&P 500 futures were up 0.3%. Futures for the Nasdaq 100-heavy technology rose 0.3% against fair value. Remember to work in overnight Dow Jones futures contracts and elsewhere that does not necessarily translate into actual trading in the next regular session Stock market session.

The 10-year US Treasury yield rose to 3.55% on Monday, extending the winning streak into three sessions. Last week, a 10-year-return barely ended a three-week losing streak.

Oil prices are down more than 2% as the markets are looking forward OPEC meeting this week. West Texas Intermediate crude futures fell below $78 a barrel. Ministers of the Organization of the Petroleum Exporting Countries and its allies, including Russia (OPEC+), meet on Wednesday. OPEC is widely expected to maintain current oil production levels but may discuss possible policy adjustments.


IBD’s latest newsletter, MarketDiem, gives you actionable ideas for stocks, options and cryptocurrencies directly in your inbox.


What to do in the ongoing stock market rally

Now is an important time to read IBD’s The Big Picture column With the stock market headed in a “confirmed uptrend” amid strong gains in recent sessions.

With more encouraging action last week, it makes sense for investors to increase exposure to 60% to 80%. But be prepared to move quickly as things can change quickly in the stock market, especially during this week’s news-driven market.

(paying off IBD inventory listings Like the defect 50 And Stocks near the buy zonefor additional stock ideas.)


Five Dow Jones stocks to buy and watch now


Dow Jones Stocks to Buy and Watch: Chevron, JPMorgan

Energy giant Chevron fell sharply for the second straight session, down 2.9 percent on Monday. The stocks broke below the 50-day average support level. Despite the recent weakness, CVX stock is adding a handle to the base of the cup, lowering entry from 189.78 to 187.91, according to Chart analysis IBD MarketSmith.

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Bank giant JPMorgan remains range-buying above the 138.76 flat-base buy point despite losing 0.9% on Monday. JPM shares It shows a solid value of 94 out of 99 perfect IBD composite classificationfor every IBD stock check. The composite rating is designed to help investors easily find the highest growth stocks.


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Top stocks to buy and watch: Impinj, Etsy, Wingstop

IBD Stock Leaderboard Impinj ended Monday below 129.12 buys at the base of the cup following its recent move, with shares down 2.9% on Monday. Look for a decisive retracement of the buy point to indicate another opportunity to buy the stock.

Backstory: Impinj’s expertise lies in RF (Radio Frequency) semiconductors for element identification, location and authentication. While the company lost money in 2020, it gained 25 cents per share in 2021. Annual earnings are expected to rise 284% to 96 cents per share this year.

Etsy is back down Buy point 137.01 in a cup with a handle after Monday’s drop of 2.25%. If the stock re-enters, the buy zone goes up 5% to 143.86.

Backstory: The company is an online e-commerce platform provider where creators of arts and crafts, vintage items, and other unique goods go to sell their products. It has a unique business model that has moved in the last few years from a niche e-commerce market to a better shopping destination among many categories.

Wingstop is fast approaching a buy point of 170.97 on a lopsided cup base. Keep an eye out for a potential handle to make a lower entrance.

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Backstory: The Dallas-based restaurant chain has more than 1,900 locations in the United States and international markets, according to Dow Jones Newswires. Its international locations include Mexico, Colombia, Panama, Singapore and the United Kingdom. The company added 40 stores in the previous quarter. Earnings release is scheduled for February 22nd. Earnings per share are expected to grow by 71%, with a 40% jump in revenue to $101.1 million compared to the same period last year.


Join IBD experts as they analyze the leading stocks of the current stock market rally on IBD Live


Tesla stock

Tesla shares It fell 6.3% on Monday, snapping a six-day winning streak and giving up part of last week’s 33% increase. Despite its strong rebound since Jan. 6, stocks are still below the 200-day line. Tesla stock closed about 56% from its 52-week high.

Early Monday, Tesla stock received an upgrade Berenberg’s waiting to buy. The new price target is 200, down from 255.

Dow Jones leaders: Apple and Microsoft

in between Dow Jones stockApple shares tumbled 2% on Monday, ending a two-day winning streak. But they are still holding above the 50-day line after strong gains in recent sessions. The stock is still down nearly 20% from its 52-week high. Apple will report its quarterly earnings on Thursday.

Microsoft stock fell 2.2% on Monday, to finish just above the 50-day line, which it reclaimed last week. The shares are still down 23% from their 52-week high.

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