April 17, 2024


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Stocks are rising in the stock market today

Stocks are rising in the stock market today

Stocks finished mixed on Wednesday, but major indexes remained at or above key support following encouraging comments from the Federal Reserve. Nvidia (NVDA) decline though foundry partner Taiwan Semiconductor Co., Ltd (TSM) got rid of the effects of the Taiwan earthquake. And Tesla (TSLA) Despite analysts' negative opinions regarding the stock market today.


The Dow Jones Industrial Average spent most of the day in positive territory but reversed late and finished the day down 0.1%. However, the index maintained its 21-day EMA after falling below the line during Wednesday's trading.

The S&P 500 rose 0.1% and rose above its 21-day line. Most S&P sectors rose while Consumer Staples and Utilities lagged. Meanwhile, the Nasdaq Composite Index led the major indexes with a 0.2% gain. The technology index also held its 21-day line after testing it on Tuesday.

The small-cap Russell 2000 rebounded with a 0.5% gain after two days of heavy selling. Innovator IBD 50 (FFTY) The ETF rebounded from its 50-day moving average with a gain of 0.6%. The yield on the benchmark 10-year Treasury note fell one basis point to 4.35%.

Trading volume was lower on the New York Stock Exchange and higher on the Nasdaq compared to Tuesday. Breadth of trading remained positive as gainers slightly outnumbered losers on both exchanges.

Powell: Balancing risks after “external force”

At a meeting of the Business, Government and Society Forum at Stanford University in California on Wednesday, Federal Reserve Chairman Jerome Powell pointed to continued strong growth, a strong labor market and inflation moving down along a bumpy path in the economy.

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Powell stated that the risks balance out regarding interest rate cuts coming too early or too late. The post-pandemic supply-side recovery was an atypical “external force” that temporarily changed the way high interest rates typically suppress demand and growth.

The Fed Chairman added that indicators showed that inflation will return to the 2% target over time. Powell had said on Monday that inflation data for February was as well In line with expectations. but Atlanta Fed President Rafael Bostic reported, MarketWatch reported He said on Wednesday that the Fed should wait until the fourth quarter before cutting interest rates.

In other economic news, the ADP employment report showed that the economy added 184,000 jobs in March, above expectations of 150,000, according to econode.

Dow Jones stocks

Intel Corporation (you are K) fell more than 8% on the stock market today after the leading chipmaker said its foundry operations lost $7 billion in 2023. The company expects to break even Its operating margins are “halfway between now and 2030.”

Among other technology stocks in the Dow Jones index, Microsoft (MSFT) is receiving support at its 21-day moving average, according to IBD Marketsorg Chart analysis tools. Microsoft stock is on the IBD Long Term Leaders list.

Sales force (Customer relationship management) has rebounded from its 50-day moving average and appears to be building a base at a buy point of 318.71. additional, Larva (cat) And IBM (IBM) was among the biggest gainers in the index.

apple (Camel) rose 0.5%, but its 50-day moving average fell below the 200-day line. also Disney (Dis) by more than 3% despite company executives winning a boardroom battle with activist investor Nelson Peltz.

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Why is this market so dangerous? Is it time to sell your dwarf beauty?

Stock Market Today: Tesla reverses to the upside

Tesla reversed and rose 1.1% despite a negative report from Deutsche Bank analyst Emanuel Rosner. The analyst noted that slowing demand could exacerbate the electric car maker's high inventory problem.

Meanwhile, Nvidia changed directions and ended the day down 0.6%. The main contract manufacturer of Nvidia is Taiwan Semiconductor Co., Ltd (TSM), which was forced to stop some work following the strong earthquake that struck Taiwan early today. But Taiwan Semi shares ended the day up 1.3%. Nvidia, a Magnificent Seven stock, is still holding on IBD Leaderboard And the Bahraini dinar 50.

Among the drivers of profits are video game operators and restaurant operators Dave and Buster (He plays) may form a gap and break out of a three-week flat base with a buy point of 64.90. Q4 sales were up 6% while profits were up 21% compared to the same period last year.

Cal who? (calm) after getting support around the 10-week moving average. Extends from inlet of cup with handle 57.95.

Warren Buffett contract Ally Finance (ally) Received a downgrade from JP Morgan to underweight. finally, Bahraini dinar 50 stock Dwarf beauty (dwarf) triggered a sell signal by falling below the 50-day moving average on heavy volume in the stock market today.

Continue please Ramakrishnan On X/Twitter for more news about today's stock market.

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