Dow futures traded lower Wednesday morning ahead of minutes from the Federal Reserve’s latest policy meeting. Meta platforms (meta) Prepping for her rival on Twittercalled Themes, debuts on Thursday.
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On Wednesday, the Fed’s meeting minutes are due at 2 p.m. ET. They can shed light on why policymakers set expectations for two more price hikes.
Later this week, the spotlight is on the jobs report released by the Labor Department on Friday. Economists expect a gain of about 200,000 jobs and a drop in the unemployment rate to 3.6%.
stock market today
Meta shares fell in morning trading. His topic website, which has been referred to as A “Twitter killer,” under the umbrella of the social networking site Instagram. While debuting on Thursday, The web interface is now available to exploration.
electric car giant Tesla (TSLA) fell 0.6% on Wednesday morning. Dow Jones Tech Giants apple (AAPL) And Microsoft (MSFT) was directly down before the stock market opened today.
Other leaders in the stock market rally include Google the alphabet (Google). Alphabet shares fell 0.5 percent.
Chipotle Mexican Grill (CMG), Dynatrace (DT), MongoDB (mdb), L Research (LRCX) And nvidia (NVDA) – as well as Dow Jones shares c. B. Morgan Chase (JPM), visa (Fifth) And sales force (CRM) – Among the top stocks to watch in the ongoing stock market progression.
Tesla is an IBD Leaderboard stock, Lam Research remains an IBD SwingTrader stock, while Nvidia was featured this week in the Stocks Near A Buy Zone column. Dynatrace was one of the last IBD stocks for the day.
Dow jones today: oil prices and treasury yields
As the opening bell approached on Wednesday, Dow Jones futures were down 0.5% against fair value. S&P 500 futures fell 0.45%, while Nasdaq 100 futures fell 0.45% in morning trading.
Among the US ETFs, the Nasdaq 100 tracker Invesco QQQ Trust (QQQ(down 0.6%, while the SPDR S&P 500 ETF traded)spy) lost 0.5% early Wednesday.
The 10-year US Treasury yield rose to 3.86%. The 10-year yield has been testing its recent highs, which were recorded in late May. The yield settled higher on Monday, at 3.85%.
Oil prices rebounded on Wednesday morning, after a slight decline on Monday. West Texas Intermediate crude futures were trading up about 2%, reaching just above $71 a barrel.
Oil prices fell on Monday despite the news Saudi Arabia said it would extend Its production cuts in August, and Russia’s announcement to reduce its production by 500,000 barrels per day next month. The OPEC meeting begins on Wednesday.
Stock market action
On Monday, the S&P 500 rose 0.1%, while the Nasdaq Composite added 0.2%. Both achieved their highest close since April 2022. The Dow Jones Industrial Average was nearly flat but still its highest close since Dec. 2.
The Big Picture column commented on Monday, “(Nasdaq’s) six-month composite gain of 31.7% was the best first half of any year since 1983, according to Dow Jones market data. The blue-chip-focused Nasdaq 100 was up 38.8%, And it’s his best first-half performance in history.”
Now is an important time to read IBD’s Big Picture column as the stock market is holding near its highs for the year.
The five best Dow stocks to buy and watch right now
Dow stocks to watch: JPMorgan, Salesforce, Visa
JP Morgan, the Dow Jones banking leader, moved more than 143.37 points long on a steady basis during Monday’s gains. The buy zone rises by 5% to 150.54. JPM shares fell 0.2% Wednesday morning.
Salesforce has managed to stabilize itself after the following earnings slump. It is now testing the support at the 50-day line. The megacap tech previously surpassed a pair of alt entries at 194.01 and 200.10, according to IBD Leaderboard analysis.
In recent weeks, the shares have reached 20% gain territory of 178.94 cups with an entry handle. CRM stock fell 0.6% Wednesday morning.
Payments leader Visa traded above 235.57 points long on the flat base on Monday, up 0.2%. The buy range reaches 247.35. V shares fell 0.3% early Wednesday.
4 growth stocks to buy and watch Stock market rise
Best stocks to buy and watch: Chipotle, Dynatrace, MongoDB, and Lam Research
IBD Leaderboard Chipotle stock is trying to clear the 2139.88 buy point of the flat bottom, according to IBD MarketSmith pattern recognition. Early entry at 2,092.51 was also available due to the trend line. Chipotle was the latest IBD stock of the day. CMG stock fell slightly on Wednesday morning.
Software maker Dynatrace has formed a narrowing pattern on the three-week chart, representing a short consolidation in which institutional investors pause buying. The shares are about 3% off their last entry at 52.99. DT shares were down 0.6% Wednesday morning.
IBD SwingTrader’s Lam Research stock moved above 615.80 early buy and narrow three-week pattern with 630.72 entry during last week’s gains. LRCX stock was trading down 0.8% early Wednesday.
MongoDB traded tightly after the recent earnings-supported jump, which provided a new entry. Shares are above the narrow three-week formation that showed a buy point at 398.89, while aggressive investors could have used a trend line around 386. Millennium Development Bank fell 0.7% Wednesday morning.
Learn how to time the market with IBD’s ETF market strategy
Best stocks to buy and watch the stock market rise
These are the top four stocks to buy and watch in the stock market today, including leader Dow Jones.
| Company Name | Code | The right point of purchase | Point of purchase type |
|---|---|---|---|
| ASML | (ASML) | 683.18 | mug with handle |
| sales force | (CRM) | 200.00 | merge |
| Cloud Flair | (network) | 66.20 | Double bottom |
| Rocco | (ROKU) | 75.45 | mug with handle |
Source: IBD data as of July 5, 2023
Join IBD experts as they analyze the leading stocks of the current stock market rally on IBD Live
Tesla stock
IBD Leaderboard Tesla stock extended its winning streak into five sessions on Monday after the company He said It delivered more than 466,000 vehicles to customers worldwide in the April-June period, a record quarter for sales. Price cuts and discounts pushed demand well above Wall Street’s expectations.
Amid the recent recovery, Tesla shares remain sharply out of the buy range after the 207.79 double bottom buy point.
TSLA stock threatened to give up some of Monday’s gains, falling 0.6% on Wednesday.
Dow Jones leaders: Apple and Microsoft
Among Dow Jones stocks, Apple faded from Friday’s high of 194.48, down 0.8% on Monday. Stocks continue to stabilize sharply above 157.38 buying points. Early Wednesday, shares lost 0.5% in morning trade.
Microsoft shares lost 0.75 percent on Monday, giving up part of Friday’s gains. However, the stock is still 4% off its June 16 high of 351.47.
In recent weeks, the stock has hit 20%-25% gain territory from 276.76 flat-base buy points, so investors could have taken at least some profit there. And on Wednesday morning, Microsoft shares were down 0.7%.
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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