January 28, 2023

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Dow Jones falls as Chinese coronavirus fears fade;  Alibaba, JD, Pinduoduo Surge

Dow Jones falls as Chinese coronavirus fears fade; Alibaba, JD, Pinduoduo Surge

The Dow Jones Industrial Average fell on Tuesday, after a difficult session on Monday. Stocks located in China Ali Baba (Baba), JD.com (Dinar) And the binduodu (PDD) rose sharply, as China’s Covid-19 fears eased.


A modest dose of economic news on Tuesday includes the Case-Shiller House Price Index for September and November consumer confidence numbers from the Conference Board at 10am. The Case-Shiller Home Price Index fell 1.24% in September versus the previous month.

Looking ahead to the rest of the week, the ADP National Employment Report and preliminary estimates of third-quarter GDP from the Commerce Department are due on Wednesday. Weekly jobless claims and inflation data are released on Thursday, while the Labor Department’s November jobs report is due on Friday.

Finally, Federal Reserve Chairman Jerome Powell will speak at the Brookings Institution on Wednesday.

Hibit (HIBB) reported earnings before Tuesday’s opening. HIBB shares plunged more than 12% in morning trade.

Earnings reports later this week CrowdStrike (CRWD), dollar general (DJ) And the gut instinct (INTU). Dow Jones stock is also included sales force (CRM), along with snowflake (snow), Ulta Beauty (Ulta) And the a work day (day).

Chinese stocks outperformed strongly early on Tuesday, as well Chinese health officials She moved to ease concerns about lockdowns and policy on Covid-19. Alibaba shares jumped 6%, and JD.com rose 8%. Pinduoduo added 4.3% to the breakout move on Monday.

Darden Restaurants (DRI) And the Rocco (ROKU) Both saw analyst cuts early Tuesday, sending their respective shares lower. DRI stock is down more than 1%, while Roku stock is down 4.5%. on the upside, United Parcel Service (UBS) rose 2% after Deutsche Bank upgraded the stock to a buy rating.

electric car giant Tesla (TSLA) fell 0.5% Tuesday morning. Technology pioneers at Dow Jones apple (AAPL) And the Microsoft (MSFT) was modestly low yet stock market today Open. Both Tesla and Apple have strong exposure to conditions in China.

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Underwriting leader matrix technologies, 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.

IBD MarketDiem’s ​​latest newsletter gives you actionable ideas for stocks, options and cryptocurrencies right in your inbox.

Dow jones today: oil prices and treasury yields

After the opening bell on Tuesday, the Dow Jones Industrial Average fell 0.2%, while the S&P 500 lost 0.1%. The tech-heavy Nasdaq Composite fell 0.15% in the morning move, with Chinese names supporting the index early.

within Exchange traded fundsNasdaq 100 Invesco QQQ Trust Tracker (QQQ(down 0.1% early Tuesday, SPDR S&P 500 ETF)spy) lost 0.15%.

The 10-year Treasury yield rose to 3.75% Tuesday morning, holding near recent lows. Last week, the 10-year Treasury yield closed at 3.69%, its lowest close since Oct. 4. Meanwhile, US oil prices rebounded 2% after touching their lowest level since December 2021 on Monday. West Texas Intermediate crude futures traded below $79 a barrel.

Stock market rise

On Monday, the stock market posted sharp losses, with the Nasdaq Technology Composite selling down 1.6%. The Dow Jones Industrial Average fell 1.45%, and the S&P 500 lost 1.5%.

Monday the big picture He commented: “The S&P 500 closed again below the 4000 level, just three sessions after it recovered. The Nasdaq remained in a sideways range, still above the level of 50-day moving average. For its part, the Dow Jones fell again below the level of 34,000.

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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 fell 3.7% on Monday, pulling back under a 173.95-point purchase of Cup Base. Look for a decisive recovery of this entry before considering buying Boeing stock. Boeing shares rose 1% on Tuesday.

Dow Jones member Caterpillar Corp. is close to recovering 238 of its cup bases Point purchaseAnd the to me IBD MarketSmith Pattern Recognition, and about 2% less than the entrance. CAT stock gained 0.8% on Tuesday.

CAT stock It boasts an impressive average of 96 out of 99 IBD Perfect Composite Rating, per IBD stock check.

Energy giant Chevron fell 2.9% on Monday, giving up a 182.50 buy point on a consolidation base. Shares of CVX rose 1.7% Tuesday morning, bouncing along with oil prices.

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 shares of Array Technologies shed 22.40 buy points in a teacup with handle during Monday’s tumble, according to the company. IBD MarketSmith Pattern Recognition. The stock is about 3% below the entry. Further vulnerability would result 7%-8% losing sell base. ARRY stock was up 0.6% Tuesday morning.

IBD Leaderboard Arista Networks stock remains in a buy range above 132.97 for a choppy base Point purchase Despite Monday’s loss of 1.5%. ANET stock was trading down 0.3% on Tuesday.

Energy drink maker Celsius fell 1.3% on Monday, as the stock continues to form a cup bottom at 118.29 a buy. Monday’s weakness could be the beginning of a potential trade that would provide a lower entry point. The stock fell 0.6% on Tuesday.

Chubb is trading just below the buy point of the 216.10 cup handle on Monday after slight losses in the session. 5% buy zone would top at 226.91 if stocks re-enter. The insurance giant fell 0.1% Tuesday morning.

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Join IBD experts as they analyze the leading stocks of the current stock market rally on IBD Live

Tesla stock

Tesla stock It rose slightly on Monday, as the stock continued to recover from its recent lows. Last week, the stock hit its lowest level since November 23, 2020, and reached a 52-week low of 166.19. Tesla shares are down about 55% from their 52-week highs and sharply below the 50- and 200-day moving average lines.

Shares of the electric vehicle giant were trading down 0.5% Tuesday morning.

Dow Jones leaders: Apple and Microsoft

within Dow Jones stockApple shares sold off 2.6% on Monday, falling below the 50-day support level. Apple iPhone Pro production may drop by 6 million units due to civil unrest and Covid restrictions in China, according to reports. The stock is more than 20% off its 52-week high.

Apple stock was trading up 0.2% on Tuesday.

Microsoft slid 2.3 percent on Monday, declining for the second straight session. Stocks continue to hold above the 50-day line. The software giant is still about 30% off its 52-week high. Microsoft shares fell on Tuesday 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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