Dow drops after Fed-fueled market sell-off; Treasury revenue rises

The Dow Jones Industrial Average tumbled Thursday, threatening to add to a massive sell-off in the stock market fueled by the Federal Reserve on Wednesday. The Labor Department’s weekly jobless claims came ahead of the opening.


Darden Restaurants (DRI), along with home builders KB Home (KBH) and linar (LEN), one of the main earnings drivers on Thursday morning. strong early movement of (CRM) backed the Dow, after the company confirmed a $50 billion revenue target for 2026.

Darden Restaurants shares fell about 2%. KB Home is down about 3%, and Lennar’s shares are trading 1% higher after the market open. Salesforce traded more than 2%.

roadblock (SQ) is down about 2% after being reduced from buying to neutral in Mizuho. electric car leader Tesla (TSLA) traded 0.1% lower on Thursday. Among the Dow Jones industrial companies, technology giants apple (AAPL) and Microsoft (MSFT) was slightly lower after the stock market opened today.

Includes top stocks to watch amid recent market weakness continental resources (CLR), double check (DV), Neurobiological Sciences (NBIX) and Vertex Pharmaceuticals (VRTX) – So is Dow Jones . stock chevron (CVX). Keep in mind that the new correction in the stock market is a good reason for investors to be often, if not entirely, on the sidelines.

DoubleVerify is the IBD Leaderboard stock, but its position has been scaled back during last week’s losses. Tesla appeared in the stock column near the buy zone for this week. Neurocrine was the stock pick to watch on Wednesday’s 50 IBD.

Dow Jones today: Treasury yields, oil prices, unemployment claims

After the opening bell on Thursday, the Dow Jones Industrial Average lost 0.6%, while the S&P 500 fell 0.8%. The Nasdaq Technology Weighted Composite Index is down 1.15% in the morning’s move.

Among the exchange-traded funds, the Nasdaq 100-tracked Invesco QQQ Trust (QQQ) Index is down 0.9%, and the SPDR S&P 500 ETF (SPY) is down 0.7%.

The 10-year Treasury yield rose to 3.65% on Thursday, rebounding from Wednesday’s low. On Wednesday, the 10-year Treasury yield hit a new high of 3.62% before reversing lower. Meanwhile, US oil prices appeared to be rebounding after two days of losses. Oil prices rose more than 1%, bringing West Texas Intermediate crude futures above $84 a barrel.

Released early Thursday, jobless claims first came in at 213,000, below estimates that had forecast a rise to 220,000 versus 213,000 in the previous week.

stock market correction

On Wednesday, the stock market underperformed, with major stock indexes selling off after the Federal Reserve’s interest rate decision. The Dow Jones Industrial Average and the S&P 500 lost 1.7%, while the Nasdaq fell 1.8%.

Wednesday’s big picture column commented that Fed Chair Jerome Powell “has made it very clear that the Fed’s number one task today is to focus on getting the long-term inflation rate up to 2% per year. It will take a long time before that can happen.”

To prepare for a new stock market rally, investors must wait for two things: a bullish attempt, and then a follow-up day.

In the market correction, the index closed on the first day its highest count as the first day of its attempt to climb. The action on day 2 and day 3 is irrelevant as long as the indicator does not reduce its lowest level. If this low is trimmed, the rally will be attempted and the market will need to try again. Wednesday’s action undermined the recent declines, so we’re back to look for Day 1.

On the fourth day and beyond, you were looking forward to the NASDAQ or S&P 500 rising sharply in higher trading volumes than the previous session. This is a follow up day. It gives investors the green light to start buying blue-chip stocks that are above the right buy points. You must keep your portfolio and mindset in sync with the movement of the stock market by gradually committing your capital to leading stocks.

While the stock market is correcting, don’t adjust. Instead, create watchlists to find emerging stock market leadership using the relative strength line. The RS line measures the stock’s price performance against the S&P 500 index. If the stock is outperforming the broader market, the RS line tends to the upside. If the stock lags behind the broad market, the line will be pointing down.

Five Dow Jones stocks to watch right now

Dow Jones stocks to watch: Chevron

Chevron stock in Dow Jones fell 0.8% on Wednesday, still barely holding above the critical support level around the 50-day line. The shares are trading 6% away from their last buy point at 166.93 from a cup with a handle – according to IBD MarketSmith chart analysis – amid a solid performance by energy stocks this year so far. The stock rose 1.8 percent as oil prices rebounded early Thursday.

A stock CVX 97 strong IBD 99 rating shows the perfect compound, according to an IBD stock inspection. Investors can use the IBD composite rating to easily gauge the quality of a stock’s fundamental and technical metrics.

Top 3 Growth Stocks to Buy and Watch at Cursstock market correction

Top stocks to watch: Continental, DoubleVerify, Neurocrine, Vertex

Oil exploration and production company Continental Resources is building a handle-cup with 72.80 buy points, according to IBD MarketSmith chart analysis. The Relative Strength line touched its most recent high last week, but remained slightly off its 52-week high. CLR shares were trading up 1.7% early Thursday.

IBD Leaderboard DoubleVerify stock is still below the buy point at 28.07 at a bottom base after Wednesday’s 1.25% loss. DV shares were down 1.3% Thursday morning.

Wednesday’s 50 IBD stock pick, Neurocrine Biosciences, is building a flat bottom with 109.36 buying points. The stock’s RS line hit a new high on Wednesday, signifying the outperformance of the big stock market. Shares were down 1.5% on Thursday.

Vertex Pharmaceuticals is down more than the 50-day streak after Wednesday’s 2.3% loss. The stock has held up well during the ongoing market weakness, as evidenced by the RS line approaching new highs. The new flat base holds 306.05 buy points, and the stock’s flexibility makes it an important idea to watch. Vertex shares were down 0.55% Thursday.

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

Tesla Stock

Tesla stock traded 2.6% down on Wednesday, continuing to trade near the 314.74 buy point of the short base. In the meantime, keep an eye out for additional buying points if the stock is able to climb further to the right side of the larger consolidation process, which runs through January. Shares were down 0.1% Thursday morning.

Up, the stock’s RS line is at its highest level since April. The shares are up about 27% from their 52-week high.

Dow Jones Leaders: Apple and Microsoft

Among Dow Jones stocks, Apple shares fell 2% on Wednesday, cutting a two-day winning streak. Last week, the stock closed at its lowest level since July 18. Apple stock traded 0.5% lower Thursday morning.

Microsoft lost 1.4% on Wednesday, hitting a 52-week low. The software giant is about 32% from its 52-week high. Microsoft shares lost 0.1 percent early Thursday.

Make sure to follow Scott Lehtonen on Twitter at Tweet embed Learn more about developing stocks and the Dow Jones Industrial Average.

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