Dow Jones rally, but stock market sales worsen; Apple falls on weak iPhone demand

The Dow Jones Industrial Average rose 350 points on Thursday, after stock market sales worsened on Wednesday. Apple stock fell on reportedly weak demand for the iPhone. Boeing gathered on the 737 Max news. Meanwhile, Snowflake rose with strong earnings results.

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Among the Dow Jones executives, apple (AAPL) traded down nearly 3% early Thursday, while Microsoft (MSFT) rose 0.4% in today’s stock market. Nike (NKE) added 1.7%, still below a buy point after Wednesday’s loss.

Head of electric vehicles Tesla (TSLA) rose 1% on Thursday. EV peer Rivian (RIVN) was up about 1%, while Lucid group (LCID) fell 1%. Chinese EV leaders Li Auto (LI) and Xpeng engines (XPEV) was each up around 3% after Thursday’s opening.

Among the best stocks to buy and see, Li Auto, NXP Semiconductors (NXPI), Pfizer (PFE) and Zim integrated shipping (ZIM) is in or near new shopping zones. The deteriorating stock market conditions mean that the environment is not favorable for new purchases.

Microsoft and Tesla are IBD Leaderboard shares. NXP is an IBD SwingTrader stock. Apple and Li Auto were featured in this week’s story about Stocks Near A Buy Zone.

Dow Jones Today: Unemployment demands

After the stock market opened on Thursday, the Dow Jones Industrial Average rose 1.1% – strengthened by Boeinghis (BA) big jump. The S&P 500 rose 0.8%, while the technology-heavy Nasdaq composite turned from early losses to an increase of 0.5% in morning trading.

Among exchange-traded funds, the Nasdaq 100 tracker Invesco QQQ Trust (QQQ) rose 0.4% on Thursday, while the SPDR S&P 500 ETF (SPY) rose 0.3%. Elsewhere, the 10-year government interest rate fell to around 1.41%.

The Ministry of Labor said that weekly unemployment claims rose to 222,000 from last week’s 199,000. The figure was better than Econoday’s estimate for the first unemployment claim of 245,000.

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Withdrawal of the stock market

On Wednesday, sales in the stock market worsened, as investors reacted to the identification of the first case of the coronavirus variant omicron in the US. The major stock indices fell sharply for a second session in a row. The Dow Jones Industrial Average closed below its long-term 200-day moving average. The S&P 500 gave up its most important 50-day line. And the Nasdaq closed right on its own 50-day line.

After the session, The Big Picture commented: “Nasdaq slipped out of the blocks, but the winnings melted away as the session went on. It ended in a sour tone, reaching today’s lowest level when it fell 1.8%. But the volume was lower. For the day , which means that the composite index did not add a new distribution date. “

The stock market outlook was downgraded to “uptrend under pressure” on Tuesday, so it’s an important time to read IBD’s The Big Picture.

Five best Dow Jones stocks to see now

Dow Jones shares to see: Apple, Boeing, Nike

Apple shares fell around 3% on Thursday morning after Blomberg reported that Apple warned component suppliers that demand for the iPhone 13 series had weakened. Apple shares reached new highs on Wednesday before turning 0.3% lower.

At the end of Wednesday’s session, Apple shares were expanded to over 153.27 buy points out of a cup with handles, according to IBD MarketSmith chart analysis. Thursday’s premarket action suggests that the stock could potentially open back in the 5% buying zone, which peaks at 160.93.

The aviation giant Boeing rose almost 4% on Thursday. China’s aviation authority issued an airworthiness directive setting up the Boeing 737 Max for a return to service in China, according to Reuters. Boeing shares closed on Wednesday with more than 30% of their 52-week high.

Retail leader Nike is trying to pick up again, after falling further below the cup base’s buying point of 174.48 in two straight days of losses. The stock rose 1.7 percent on Thursday.

Action Revenue: CrowdStrike, Five Below, Snowflake

Cybersecurity leader CrowdStrike climbed nearly 4% early Thursday after reporting strong third-quarter earnings and sales results. The shares ended on Wednesday with more than 30% discount at 52 weeks high.

Low-cost retailer Five Below reported results for the third quarter that easily beat expectations and delivered a strong full-year forecast. The stock rose around 4% on Thursday, while trying to regain its most important 50-day benchmark. A cup-with-handle base with a buying point of 221.10 is also formed.

Snowflake reported a lower-than-expected loss for the third quarter, while revenues exceeded estimates. SNOW shares rose 10% on Thursday, while they are trying to recover after Wednesday’s fall of 8.6%.

Shares to buy and look at: Li Auto, NXP, Pfizer, Zim

Li Auto ended Wednesday just above a cup-with-handle base’s 34.93 buy point in the middle of a bubbling breakout move. The shares plummeted on Wednesday morning after strong delivery figures, but ended with a loss of 1%. Li Auto shares rose around 3% on Thursday.

Chipleader and the new IBD SwingTrader stock NXP Semiconductors are trying to break past a buy point of 227.60 in a cup-with-handle base, but closed below the buy point in the middle of Wednesday’s sharp reversal. The shares lost almost 1% on Thursday.

The pharmaceutical giant Pfizer is just outside the buying area past a buying point of 51.96 in a cupbase after Wednesday’s 1.75% rise. The 5% buying zone topped with 54.56. The stock fell 0.7 percent on Thursday.

Recent IPO Zim Integrated, an IPO leader, continues to build a cup-with-handle base with a buy point of 60.19, according to IBD MarketSmith chart analysis, despite a two-day losing streak. The shares are about 11% away from the last listing. ZIM shares rose around 2% on Thursday.

Join IBD experts as they analyze leading stocks in the current stock market trend on IBD Live

EV shares: Xpeng, Lucid Motors, Rivian

Xpeng Motors is still a bit extended past its buying point of 48.08 in a choppy cupbase after Wednesday’s 7% drop. XPEV shares rose more than 3% on Thursday.

Lucid Motors shares threatened to extend a two-day slide, falling around 1% on Thursday. The LCID bearing is still well past a point of purchase of 28.49 in a cup with handles.

Hot IPO Rivian was up about 1% after Wednesday’s 3.4% decline.

RIVN shares closed on Wednesday with a 36% discount after the listing. The decline is a potential positive for investors who remain disciplined and wait for a listing base to be formed before considering a purchase. The latest weakness is the start of Rivian’s first base formation.

Tesla shares

Tesla shares rose 1% on Thursday, in line with the decline from Wednesday’s decline of 4.35%. The stock traded as high as 1,243.49 on November 4, but the stock ended Wednesday at about 12% of its 52-week high.

TSLA shares remain sharply above 764.55 buy points in a cup with handles, as well as previous entries of 700.10 and 730. The chart also showed an alternative entry of 900.50. Tesla shares are likely to form a new base, but there is no new buying point yet.

Dow Jones executives: Microsoft

Among Dow Jones shares, software giant Microsoft rose 0.4% on Thursday, in line with a two-day losing streak. On the positive side, the share’s RS line is at new heights, which indicates strong stock market results during this week’s market weakness.

On October 18, the Microsoft stock broke past a flat base’s buying point of 305.94. The buy zone of 5% peaked at 321.24, so the stock is expanding.

Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones Industrial Average.

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