Dow Jones hopper; Twitter plunges on Elon Musk Move; Warren Buffett Stock Offer Point of Sale | Investor’s Business Daily

The Dow Jones Industrial Average jumped, but the Nasdaq shone brightest when stocks crashed. Twitter (TWTR) plunged on a move past Tesla (TSLA) CEO Elon Musk. Warren Buffett action Occidental Petroleum (OXY) offered a return while apple (AAPL) was a top blue chip.


Discounted technology stocks were among the best pastors, too DocuSign (DOCU) gives a nice win. ARK Innovation, ticker symb = ARKK]a controversial ETF led by Cathy Wood, exploded 11% higher.

Volume declined on both the Nasdaq and the New York Stock Exchange, according to early data. This is not ideal when a market is trying to rally.

Meanwhile, the return on the benchmark index for 10-year government bonds rose 12 basis points to 2.94%. Oil rose again, with West Texas Intermediate crude rising 4% to over $ 110 a barrel.

Nasdaq rises when Excel shares grow

Nasdaq was the top major index, rising 3.8 percent. EV maker Lucid Motors (LCID) was one of the best results here, with an increase of 14.8%.

The S&P 500 ended the session with a strong gain of 2.4%. Enphase Energy (ENPH) impressed here with a gain of 12%.

US Stock Market Today Overview

Index Symbol Price Gain / loss % Change
Dow jones (0DJIA) 32195.94 +465.64 +1.47
S&P 500 (0S & P5) 4023.86 +93.78 +2.39
Nasdaq (0NDQC) 11805.00 +434.04 +3.82
Russell 2000 (IWM) 178.05 +5.45 +3.16
IBD 50 (FFTY) 30.42 +1.13 +3.86
Last update: 16:08 ET 13.05.2022

The S&P sectors were all green. Consumer judgment, technology and energy succeeded. Tools and health yielded the weakest gains.

Small caps eventually hit back at the Bears, with Russell 2000 rising 3.2%.

But it was growth stocks that had the best day of all. Innovator IBD 50 ETF (FFTY), a watch for growth stocks, ended with a gain of 3.9%.

Dow Jones today: The index jumps when Apple stock pops

The Dow Jones Industrial Average rose towards the end when it turned in a gain of almost 500 points. The session ended up 1.5%. It has now been falling for seven weeks in a row.

Apple stock was a winner on Friday when it rose 3.2%. Nevertheless, the stock ended the week down 6.5% according to MarketSmith data.

But it was Nike (NKE) which was the biggest winner on the Dow Jones today. It went up 4.7 percent.

Johnson & Johnson (JNJ) led the downside, but fell only 0.6%.

Twitter hit Elon Musk Move, Tesla Stock Rallys

The Twitter stock stood out as a sore thumb among technology stocks when it was hammered lower.

It came after Tesla CEO Elon Musk, who is trying to buy the company, shares some potentially ominous news on the social media network.

“Twitter agreement temporarily put on hold pending details that support calculations that spam / fake accounts actually represent less than 5% of users,” tweeted eccentric leader,

However, he later added that he is “still committed” to the acquisition, which has become a major focus due to Musk’s views on freedom of expression.

Twitter shares plunged 9.7 percent. It is now well below the 54.20 price that Musk offers to take the company privately. The price difference indicates an increasing risk that the takeover cannot be completed.

On the other hand, the EV share Tesla rose and rose 5.7%. However, it remains anchored below the main moving averages. The TSLA share has been hit by fears that Twitter may distract Musk from the electric car industry.

Donald Trump SPAC Digital World Acquisition (DWAC), which is set to house former president’s rival social media network Truth Social, rose 8.3%.

Cathy Woods ETF Vaults Who Knocked Down the Tech Rally

Discounted technology stocks were among the top winners on Friday. DocuSign impressed as it rose 13.4%. Although still shy of its 50-day line, it was a top performer on the Nasdaq today.

More risky names did best for the day, too Teladoc Health (TDOC) jumps 9.4% and Warren Buffett favorite Snowflake (SNOW) by 12.4 percent.

Great technology was also about to win. Microsoft (MSFT) rose 2.2%; Amazon (AMZN) went up 5.7%, Facebook parent Metaplatforms (FB) jumped 3.9% and Google parent Alphabet (GOOGL) closed up 2.8%.

The development of discontinued technology shares has given a much-needed boost to the ARK Innovation ETF, which is led by Cathie Wood. But while it rose 11.9% on Friday, it is still down 55% for the year.

One area outside of technology that made a remarkable move was casinos. They delivered some of the best gains in the stock market today, with such as Las Vegas Sands (LVS) and Wynn Resorts (WYNN) shines strongest with gains of 15% and 13.2% respectively.

Outside the Dow Jones: Warren Buffett stock offers entry

Although it is risky to add stocks to your portfolio during a correction, a couple of energy names stood out when they made bullish moves.

Warren Buffett stock Occidental Petroleum jumped away from its 10-week moving average. This acts as an entrance with an ideal buying point of 59.26. It is capable of action as high as 65.19.

The relative strength line has been unique through 2022 and looks set to be higher again.

Legendary investor Warren Buffett is a big fan of the stock. His company Berkshire Hathaway (BRKB) is now the company’s largest shareholder with an ownership interest of 15.2%.

Occidental is the largest landowner in the Permian Basin, located in Texas and New Mexico.

New Fortress Energy also offers a buy option as it rebounds from its 10-week line. The ideal listing here is 39.92 and it can be purchased up to 43.91.

The New York-based company aims to change the power market, with liquefied natural gas a key component of the strategy. It operates in the United States, the Caribbean, Europe and Latin America.

Both stocks won a place on the prestigious IBD Leaderboard list of leading stocks on Friday.

Follow Michael Larkin on Twitter at @IBD_MLarkin for more on growth stocks and analytics.


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