The Dow Jones futures fell modestly late on Thursday, along with S & P 500 futures and Nasdaq futures, among weak Chinese trading data, after the current stock market collection suffered another day of heavy sales. The S&P 500 index and Nasdaq knifed during their 200-day moving average on Thursday, but many growth names went well. Thursday Tesla (TSLA) announced loans to build their factory in Shanghai and lost another top manager. Octa (OKTA), Upland Software (UPLD) and Costco Wholesale (COST) all peaked revenue views. Okay stocks and Upland are so ready to cross purchase points, but not in the same direction. Costco stocks signaled moving over important technical levels. The Tesla share rose slightly.
Dow Jones Futures Today
Dow Jones futures were 0.25% below fair value. S & P 500 futures pushed 0.25%. Nasdaq 100 futures fell 0.35%. Keep in mind that taking over in Dow futures and elsewhere may not necessarily translate into actual trading in the next ordinary stock market session. It has certainly been true this week. Dow Jones futures have pointed to modest gains or losses, not an unknown stock market repayment.
The Shanghai composite fell 2.9%, partly on the US listed market Thursday, but also due to weak trading data. China exports fell 21% compared to a year earlier, while imports went up 5%. It was partly due to the moon's New Year, but both fell more than expected.
Current Stock Market Collection
The large averages fell for a fourth straight increase. Dow Jones fell 0.8%. The S&P 500 index declined by 0.8% and the Nasdaq composite slid 1.1%, both underestimating their long-term 200-day moving average. But many growth stocks, especially in the software industry, went on Thursday. It changed the script from Monday when the big averages dropped modestly, but software and other best stocks suddenly sold. IShares extended Tech-Software Sector ETF (IGV) fell 0.2% after a 0.6% retreat on Wednesday. Among the better ETFs in today's stock market collection, IGV ETF is down 3% so far this week.
This is an important day to read The Big Picture.
So far, today's stock market action seems normal. After 10 quick weeks of winnings, the stock market rally was due to some kind of withdrawal. Look at a weekly chart to put the market action in context. On the other hand, investors should consider taking at least partial profits to lock in gains. If the stock market continues to slip, you'll be glad you did. If the market returns, you will have more capital to distribute as new buying opportunities arise.
Stocks sold Thursday when the European Central Bank announced a weaker growth in the euro area, announced new initiatives and promised not to raise interest rates by at least 2020. These movements raised concerns about global growth and pushed US dollars to a 23-month high. Tesla Shanghai Gigafactory Loan
Tesla announced it has secured around $ 520 million in 12-month lending by Chinese banks to help build the Shanghai gigafactory. Tesla aims to increase its total capacity and bypass car prices on the world's largest market for electric vehicles and automatic sales.
At the same time, Tesla's technical engineer, Michael Schwekutsch, leaves the electric car manufacturer for more than three years. Many high-level Tesla executives have left the company over the past year.
The Tesla share rose 1% in late trading after rising 0.1% to 276.59 on Thursday. However, after tumbling, nearly 14% over the previous four sessions of Tesla's latest price increases and redundancies, as well as the closure of most stores, raises concerns about demand.
Octa Earnings Report
The Octa result report came in better than expected for the fourth quarter. The Cybersecurity company lost 4 cents a stock adjusted, which reduced its loss from the previous year. Revenue increased 50% to $ 115 million. But Okta looks larger than expected losses for Q1 and 2019.
The octa stock fell 7% to 75.50 in late trading. It signals a test at a 75.59 point of purchase.
Costco results jumped 42% to $ 2.01 a share in January end Q2, smashing impressions by 34 cents. Revenue increased 7% to $ 35.396 billion. The core market with the same store increased by 6.7%, with an adjusted e-commerce sales of 25.5%. Meanwhile, February composition rose by 4.6%.
The Costco share doubled 4.7% to 227. It would push stocks back over their 200-day moving average after stocks closed 1.1% to 216.79 in the regular session. The Costco share can also break a downward trend line as it works against a 245.26 buying point.
Upland Software Earnings
Upland Software revenue increased by 57% to 58 cents per share while revenue jumped 63% to $ 45.2 million. The manufacturer of software for project and information technology management, workflow automation and digital engagement also ruled slightly higher for sales in the 1st and 2019.
Upland Software stock jumped 11% to 37.60 late. It suggests a breakout over a 35.70 cup-to-handle buying point. Shares increased by 3.3% on Thursday, and jumped back from their 200-day moving average. Upland Sofware warehouse has a 97 IBD composite rating out of the best possible 99. But while relative strength has moved modestly higher since the beginning of December, it follows a six-month downtrend.
YOU ALSO LIKE:
The Big Picture: Stocks Case again, but two sectors surpass
As stock market decline, this is the next big market catalyst
IBD stock of the day: This manager's name is still in the shopping area  Get Free IBD Newsletter: Market Prep | Tech Report | How to Invest
After Hourly Trading: Here's What It Is and Why It Can Help You in the Stock Market