The Dow Jones Industrial Average fell Thursday morning after key inflation data. Tech leaders Okta, Splunk and Snowflake posted big earnings-related moves, and Salesforce stock in Dow Jones fell after its quarterly results. Meanwhile, Chinese electric vehicle shares Li Auto and Nio posted record vehicle sales.
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Inflation data, unemployment claims, earnings drivers
The Commerce Department’s Personal Consumption Expenditures (PCE) Price Index, the Federal Reserve’s preferred measure of inflation, was released Thursday morning. The index showed a 0.3% increase for the month of October, which was cooler than estimates, achieving a 6% increase year-on-year, which was in line with estimates. Personal income rose 0.7% in October, beating Econoday’s estimate of 0.4%.
The PCE price index tracks the change in the prices of goods and services purchased by consumers throughout the economy.
Meanwhile, first-time jobless claims from the Labor Department fell to 225,000 from 240,000 in the previous week. It was expected to drop to 238,000 inches.
Include companies that have reported earnings can (can), dollar general (DJ), five below (five), pure storage (PSTG), Dow Jones Software Stock sales force (CRM), snowflake (snow) And the splink (SPLK).
Stock BOX It lost nearly 1% early on, while shares of Dollar General fell nearly 7%. Five stocks below rose more than 11%, while Pure Storage has rebounded more than 4%. sales force decreased by 8%, while snowflake jumped 3%. Splunk jumped More than 12% in the morning trade.
Chinese electric vehicle inventory Lee Otto (L.I) And the New (nio) Reported monthly car sales early Thursday. Shares of Li Auto fell 1.3%, and Nio fell 3.3%.
electric car giant Tesla (TSLA) rose 0.3% Thursday morning. Technology pioneers at Dow Jones apple (AAPL) And the Microsoft (MSFT) were lower yet stock market today Open.
Underwriting leader Matrix group techniques (I see), IBD Leaderboard stock Arista Networks (Network), Celsius (CELH) And the Chubb (Cb) – as well as the names of the Dow Jones Boeing (BA), Larva (cat) And the chevron (CVX) – among the top stocks to buy and watch.
Arista Networks is IBD Leaderboard It was fresh stock from IBD Stock today. Boeing is IBD SwingTrader Stocks He was one of the four leaders Featured In this week Arrows near the buy zone column. was a percentage Pick Monday stocks from the IBD 50 to watch.
Dow jones today: oil prices and treasury yields
After Thursday’s opening bell, the Dow Jones Industrial Average lost 0.2%, while the S&P 500 rose 0.5%. The Nasdaq Composite Heavy Index rose 0.7% in the morning move.
within Exchange traded fundsNasdaq 100 Invesco QQQ Trust Tracker (QQQ(up 0.3% early Thursday, SPDR S&P 500 ETF)spy) gained 0.25%.
The 10-year Treasury yield fell to 3.58% Thursday morning, touching its lowest level since Oct. 4. Meanwhile, US oil prices added another 1%, settling for a three-day recovery after touching their lowest level since December 2021 on Monday. West Texas Intermediate futures traded above $81 a barrel.
Stock market rise
On Wednesday, the stock market posted a strong move, with the Nasdaq Technology Composite rising 4.4%. The Dow Jones Industrial Average rose 2.2%, while the S&P 500 rose 3.1%.
Wed the big picture He commented: “Stock market indices rose strongly on Wednesday after Federal Reserve Chairman Jerome Powell told a gathering at the Brookings Institution that it would ‘make sense’ to adjust the pace of rate hikes. However, he still expects rates to rise to ‘constraining enough’. “. level.”
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: Boeing, Caterpillar, Chevron
Aerospace giant Boeing Co rose 2% on Wednesday, moving further above the 173.95 buy point of the cup base. Buying area increased by 5% to 182.65. Boeing shares rose on Thursday.
Dow Jones member Caterpillar finished nearly 238 of its trophy base Point purchaseAnd the to me IBD MarketSmith Pattern Recognition, following Wednesday’s rise of 0.55%. CAT stock lost 0.1% Thursday.
CAT stock It features a perfect 94 out of 99 IBD compound rating, per IBD stock check.
Energy giant Chevron rebounded another 1.3% on Wednesday, regaining 182.50 buy points on a consolidation base. CVX shares rose 0.6% Thursday morning, as oil prices extended their recent gains.
4 growth stocks to watch in Cursstock market rally
Top stocks to buy and watch: Array, Arista, Celsius, and Chubb
The leading solar energy company and Array Technologies shares fell further below a buy point of 22.40 in a cup with a handle during Wednesday’s slight dip, resulting in a 7%-8% decline, according to IBD MarketSmith Pattern Recognition. The attempt to hack the stock clearly didn’t work, and investors should act accordingly. ARRY stock is down 1.2% Thursday morning.
IBD Leaderboard Arista Networks stock moved out of buy range above 132.97 for a choppy base Point purchase Wednesday’s advance was 4.2%. ANET stock fell 0.1% on Thursday.
Energy drink maker Celsius rose more than 8% on Wednesday, as the stock continues to make a cup bottom at 118.29 buy points. Monday’s reversal could potentially lead to a handle offering a lower entry point, but it’s too early to be sure. The stock rose 0.6% on Thursday.
Chubb is trading further above the 216.10 long point of cup with handle on Wednesday after gaining 1.3% for the session. Buying space is 5%, high at 226.91. The insurance giant was trading up 0.2% Thursday morning.
Join IBD experts as they analyze the leading stocks of the current stock market rally on IBD Live
Tesla stock
Tesla stock The stock rose 7.7% on Wednesday, closing at its highest level since November 11th. On November 22, the stock hit a 52-week low of 166.19. Stocks are down about 52% from their 52-week highs and sharply below the 50- and 200-day moving average lines.
The EV giant was trading down 0.3% Thursday morning.
Dow Jones leaders: Apple and Microsoft
within Dow Jones stock, Apple shares jumped 4.9% on Wednesday, ending a three-day losing streak and regaining its 50-day mainline. The stock is down about 20% from its 52-week high. Apple stock was trading down 0.2% on Thursday.
Microsoft stock rose 6.2% on Wednesday, ending a three-day losing streak and reaching its highest level since Sept. 13. The software giant is still about 26% off its 52-week high. Microsoft shares fell 0.1 percent Thursday morning.
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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