The Dow Jones Industrial Average reversed higher on Friday after headline inflation data, with the early release of the PCE price index. Meanwhile, Dow Jones chip maker Intel (INTC) fell by as much as 10% due to loss of profit.
X
Investors received a breakdown of December personal income and spending, and monthly personal consumption expenditures inflation data, From the Department of Commerce at 8:30 a.m. ET. The personal consumption expenditures price index rose 0.1% for the month, above the unchanged forecast. Annual inflation eased to 5% from 5.5% in line with estimates. Core PCE prices rose 0.3%, as core inflation fell to 4.4% from 4.7%; Both estimates are identical.
New data released with Thursday’s GDP report showed that the Fed’s preferred measure of inflation, the core personal consumption expenditures price index, eased to an annualized 3.85% rate in the fourth quarter.
Fourth-quarter earnings season continued on Friday, as results came in from members of Dow Jones American Express (AXP), chevron (CVX) and Intel and visa (Fifth), Beside Kosovo Liberation Army (cling).
American Express shares jumped 6.5%, while Chevron fell about 2%. CVX stock approaches the right side of the cup bottom with 189.78 buy points, according to IBD MarketSmith Pattern Recognition.
Intel shares fell 7.8% after The company failed to meet Wall Street targets For the fourth quarter, guidance is much lower than expected for the current period.
Visa stock advanced 2% on Friday after that Beating the highest and lowest ratings. Visa shares closed Thursday in a buy range above 220.08 buy points in a long pattern. Buying area rises 5% to 231.08.
finally, The KLA exceeded expectations for the second quarter of the fiscal year. But its forecasts for the current period were lower than estimates. KLAC shares fell 5.5%.
stock market today
Electric vehicle leader Tesla rose about 2% Friday morning, looking to add more Thursday’s big gains. Dow Jones Tech Giants an Apple (AAPL) And Microsoft (MSFT) was mixed after stock market today Open.
IBD Leaderboard Inventory Exxon Enterprise (Axon), today’s latest stock from IBD etsy (ETSY), monster drink (mnst) And Vertex Pharmaceuticals (VRTX) – as well as the Dow Jones stock c. B. Morgan Chase (JPM) – among the top stocks to buy and watch, with the market’s bull run still going strong.
It is an axon IBD Leaderboard Inventory. etsy And Vertex It was recent Today’s stock from IBD. Axon and JPMorgan appeared in filings This week’s stocks are near the buy zone bar.
Dow jones today: oil prices and treasury yields
After the opening bell on Friday, the Dow Jones Industrial Average rose 0.5%, retracing early losses, and the S&P 500 rose 0.4%. The Nasdaq Composite Heavy Index rose 0.6% in the morning move.
Between us Exchange traded fundsNasdaq 100 Invesco QQQ Trust Tracker (QQQ(up 0.3% and the SPDR S&P 500 ETF)spy) rose 0.2% early on Friday.
The 10-year US Treasury yield rose to 3.55% on Friday morning. Yields are poised to break away from a three-week rally that has brought the 10-year yield close to its lowest level since mid-September.
Oil prices rose more than 1% on Friday, with West Texas Intermediate crude futures hovering above $82 a barrel. Oil prices stabilized this week, near their highest since early December after two weeks of strong gains and ahead of the Organization of the Petroleum Exporting Countries (OPEC) next week.
Stock market rise
On Thursday, the Dow Jones Industrial Average rose 0.6%, and the S&P 500 rose 1.1%. The Nasdaq Composite was up 1.8%, with the small cap Russell 2000 up 0.7%.
Thursday’s Big Picture column He commented, “IBD’s stock market forecast It is in a “confirmed uptrend” amid strong gains since early January, when the Nasdaq indicated there was Follow-up day on 6 January. Given the current market strength, it makes sense to systematically increase your exposure if your trades are doing well, with an investment ratio of 40%-60%. Profitable trading should get you closer to the 60% threshold, especially after Thursday’s tech-backed gains.”
Now is an important time to read IBD’s The Big Picture column Amidst the continuous rise in the stock market.
Five Dow Jones stocks to buy and watch now
Dow Jones stock to buy and watch: JPMorgan
Banking giant JPMorgan is back above 138.76 buy points with a flat bottom amid a five-day winning streak. JPM shares were up 0.6% Friday morning.
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.
4 growth stocks to buy and watch Stock market rise
Top stocks to buy and watch: Axon, Etsy
The safety index, Axon, rose 0.2% on Thursday, moving higher in a buy range of 5% above 189.72 buy points at the base of a cup with a handle. The buy zone tops at 199.21. Shares of Axon rose slightly Friday morning.
Backstory: Formerly known as Taser International, the company has capitalized on the business opportunity presented by public demands for greater oversight of police departments. Its line of body cameras and accompanying software is now a market leader. The Scottsdale, Arizona-based company also boasts a cloud-based digital directories platform.
Etsy broke After a buy point of 137.01 in a cup with a handle on Monday, but it fell further below the entry with a 1% loss on Thursday. If the stock regains the buy point, the buy zone goes up 5% to 143.86. ETSY stock lost 3% on Friday.
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 across many categories.
Monster, Vertex Eye purchase points
Monster Beverage is nearing a breakout, clearing a buy point of 104.75 for a flat base, after Thursday’s gain of 0.4%. MNST stock fell 0.5% on Friday.
Backstory: monster drink He commands a dual energy drink monopoly with his own rival, Red Bull. The company’s portfolio of energy drink brands includes Monster Energy, Reign, and NOS Energy.
Monster dominates energy drinks in the U.S. with 39% market share last year, according to Jefferies data, generating a record $5.5 billion in revenue for the company. Red Bull captured 37% of the US energy drink market in 2021. Upstart Celsius (CELH), Which is experiencing an impressive growth streakcaptured 4.9% of the market.
Today’s latest stock from IBD, Vertex Pharmaceuticals, is approaching a 324.85 buy point in the cup base after its fifth consecutive gain on Thursday. VRTX stock rose 0.2% on Friday.
Backstory: The company is best known for cystic fibrosis treatments – a market that Vertex estimates is 88,000 patients. Of those, 20,000 patients can still receive old-school oral treatments. But analysts are keeping an eye on what’s new from Vertex, including an updated regimen of three drugs that could strengthen Vertex’s position against a rival. Apve (ABBV).
Stocks to buy and watch the stock market rise
These are the seven biggest stocks to buy and watch in the stock market today, including three Dow leaders.
| The Company’s name | Code | The right point of purchase | base type |
|---|---|---|---|
| monster | (mnst) | 104.75 | Flat base |
| Vertex | (VRTX) | 324.85 | cup base |
| Axon | (Axon) | 189.72 | mug with handle |
| etsy | (ETSY) | 137.01 | mug with handle |
| JPMorgan | (JPM) | 138.76 | Flat base |
| chevron | (CVX) | 189.78 | cup base |
| visa | (Fifth) | 220.08 | mug with handle |
Source: IBD data as of January 27, 2023
Join IBD experts as they analyze the leading stocks of the current stock market rally on IBD Live
Tesla stock
Tesla shares rose 11% Thursday after The company’s strong results for the fourth quarter, to extend the winning streak to five sessions. After a strong rebound, stocks are back above the 50-day line, although they are still below the 200-day line. Tesla stock closed about 62% from its 52-week high.
Shares of the electric car giant were up 2.2% Friday morning.
Dow Jones leaders: Apple and Microsoft
in between Dow Jones stockApple shares rose 1.5% on Thursday, snapping a four-day winning streak. Stocks are still above the 50-day line after strong gains in recent sessions. However, the stock is still down nearly 20% from its 52-week high. Apple will report its quarterly earnings on February 2nd. AAPL stock fell 0.1% on Friday.
Microsoft stock rose 3.1% on Thursday, decisively regaining the 50-day line, which is bullish for the stock’s immediate prospects. However, shares are still down 22% from their 52-week high. Shares rose 0.3% early on Friday.
Be sure to follow Scott Lehtonen on Twitter at @tweet Learn more about developing stocks and the Dow Jones Industrial Average.
You may also like:
Top growth stocks to buy and monitor
Learn how to time the market with IBD’s ETF market strategy
Find the best long-term investments with IBD’s long-term leaders
MarketSmith: Research, charts, data and training in one place
How to Find Growth Stocks: Why the IBD Tool Simplifies Your Search for Top Stocks