Dow Jones Rises Amid Jobless Claims Following Inflation Data; Tesla Stock Skated Near 2022 Lows

The Dow Jones Industrial Average rose Thursday morning as energy stocks and China exposed issues boosted early trade. The weekly jobless claims data released by the Labor Department proved to be higher than expected. Tesla stock fell nearly 3%. After the Bloomberg report The company has shortened shifts at its Shanghai plant and delayed new hires due to slowing demand in China’s auto market.

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The Labor Department said first-time jobless claims rose to 230,000 from 225,000 in the previous week. This was higher than economists’ estimate of 228,000. On Friday, wholesale inflation data is due along with the Producer Price Index, or PPI.

chevron (CVX) led the Dow Jones Industrial Average, up 2% as oil prices rebounded. It also announced a 25% increase in its capital spending for 2023. Exxon Mobil (xom) rose nearly 3% thanks to expanded earnings guidance, and after increasing its share repurchase program to $50 billion.

while, Sina (CIEN) And the Jim Stop (GME) reported earnings before the market opened on Thursday. Ciena rose more than 16%. GME stock rose 1.5% after reporting a quarter-over-quarter decline in sales and a smaller loss compared to a year ago.

electric car giant Tesla (TSLA) fell 2.8% on Thursday. Technology pioneers at Dow Jones apple (AAPL) And the Microsoft (MSFT) was mixed after stock market today Open.

Celsius (CELH), IBD Leaderboard stock dexcom (DXCM), Kosovo Liberation Army (KLAC) And the Trane Technologies (TT) – as well as the names of the Dow Jones Larva (cat), chevron f Home Depot (HD) – among the top stocks to buy and watch.

Dexcom and Trane are the two IBD Leaderboard Stores. Caterpillar and Home Depot appeared In this week Arrows near the buy zone column. The percentile was recent IBD 50 shares to watch and a New America stock. Caterpillar was modern IBD stock today.

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Dow jones today: oil prices and treasury yields

After Thursday’s opening bell, the Dow Jones Industrial Average rose 0.3%, while the S&P 500 rose 0.1%. The tech-heavy Nasdaq Composite fell 0.15% in the morning’s move as Chinese stocks rallied to the top.

within Exchange traded fundsNasdaq 100 Invesco QQQ Trust Tracker (QQQ(losing 0.2% and the SPDR S&P 500 ETF)spy) gained 0.1% early Thursday.

The 10-year Treasury yield rose to 3.48% Thursday morning. On Wednesday, the 10-year Treasury yield fell to 3.4%, its lowest close since Sept. 12.

Meanwhile, US oil prices rebounded after four straight heavy losses, which saw WTI futures drop to a new low in 2022. WTI futures were trading up 2% to over Just under $74 a barrel early Thursday.

Stock market rise

On Wednesday, the Nasdaq Composite fell for the fourth consecutive session, while the S&P 500 extended its losing streak to five sessions. The Dow Jones Industrial Average rose slightly, snapping a three-day losing streak.

Wed column big picture He commented, “Bull markets need expanded participation to survive. It hasn’t happened in the latest attempt to rally, at least not yet, so a more defensive stance may be needed. An inverted yield curve seems to support this view, predicting weaker economic conditions in 2023.”

Now is an important time to read IBD’s The Big Picture column Amidst the constant fluctuations in the stock market.

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 move away from the 238 cup base Point purchaseAnd the to me IBD MarketSmith Pattern Recognition, following Wednesday’s 0.3% gain. CAT stock rose 0.8% Thursday.

CAT stock It shows 94 constants from a perfect 99 IBD composite classification, per IBD stock check.

Energy giant Chevron rose 0.3%. Wednesday, is still directly below 182.50 buying points on the consolidation base. Stocks are trying to stop their current slide around the 50-day line. Shares of CVX rose 2% Thursday morning, as oil prices rebounded amid this week’s decline.

Home improvement retailer Home Depot has been wound up Wednesday About 5% below the 333.08 buy point of the cup base. The stock is about to add a handle to the base of the cup, which will lower the valid buy point to 329.77. HD shares were trading up 0.1% on Thursday.

4 growth stocks to watch in Cursstock market rally

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

Energy drink maker Celsius triggered a 7%-8% loss from its 118.29 cup base buy point during Wednesday’s decline. While the stock may add a handle to the bottom of the cup, investors who bought during Friday’s breakout move should reduce their exposure. The stock rose 2.4% Thursday.

IBD Leaderboard Dexcom stock is close to entering a flat bottom at 123.46 and is about 4% away from that Point purchase After, after Wednesday 0.9% rise. Dexcom shares rose 3.5 percent early Thursday.

The Chip KLA leader finished Wednesday just under 392.60 buy points, according to Chart analysis IBD MarketSmith. The main technical force is the stock’s strong RS line, which reached another new high during Wednesday’s move. KLA stock rose 0.6% on Thursday.

Trane Technologies ended Wednesday about 3% below 181.72 buy points in a cup with handle after rising 1.2% for the session. Stocks fell slightly Thursday morning.

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Tesla stock

Tesla stock It slid another 3.2% Wednesday, down sharply for the third straight session. Stocks are already down more than 10% this week.

Despite the losses, the stock is holding above its 52-week low, which was set in mid-November. Shares are down 57% from their 52-week high. Meanwhile, the stock seems to be seeing some resistance around the 200 price level, which is a key area to watch if the stock is able to make another bullish attempt. For now, the stock appears to be heading for a 2022 low.

Shares fell nearly 3% Thursday morning to about 169.50 a share, just a few points off their 52-week low of 166.19.

Dow Jones leaders: Apple and Microsoft

within Dow Jones stockApple shares sold off 1.4% Wednesday, where it reached its lowest level recently and fell further below the 50-day line. The stock is up about 23% from its 52-week high. Apple stock was trading up 0.7% Thursday.

Microsoft fell 0.3%. Wednesday, as stocks continue to walk above the 50-day line. The software giant is still about 30% off its 52-week high. Shares of Microsoft fell 0.2% early Thursday.

Be sure to follow Scott Lehtonen on Twitter at @employee Learn more about developing stocks and the Dow Jones Industrial Average.

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