The Dow Jones Industrial Average fell on Wednesday in the wake of Tuesday’s stock market gains. Retail stocks led the decline as target stocks plunged 25% in a weak first-quarter report that showed rising spending reduced profits.
Doxymetry (DOCS) and Kissite (KEYS) Late Tuesday earnings report. Analog device (ADI), Loyer (Lower), Target (TGT) and TJX Among the companies reported on Wednesday morning (TJX).
DOCS stocks fell 13%, while Keysight lost more than 1%. Analog dropped about 1% because Loe’s stumbled over 3%. And TJX jumped more than 9%.
Electric vehicles are monsters Tesla (TSLA) fell about 3% on Wednesday morning. Elsewhere, Dow Jones technology leaders Apples (AAPL) and Microsoft (MSFT) shares fell 1.5% today.
In a new stock market rally, Dow Jones leaders Chevron (CVX) and Mark (MRK) – co Broadcom (AVGO), Eli Lily (LLY) and Exxon Mobil (XOM) – One of IBD’s top stocks to watch on Wednesday.
Merck and Microsoft are IBD leaderboard stocks. Eli Lilly and Mark are featured in this week’s Stocks Near A Buy Zone column.
Dow Jones Today: Treasury yields, oil prices
Since opening Wednesday, the Dow Jones Industrial Average has declined 1.25%, e.g. Walmart (WMT) and Home Depot (HD) Both have swung about 3% less. S&P 500 down 1.55%. And Nasdaq lost 1.9% in morning trade.
Among exchange-traded funds, the Nasdaq 100 tracker Invesco QQQ Trust (QQQ) fell 1.6%. SPDR S&P 500 ETF (SPY) decreased 1.2%.
The 10-year Treasury yield rose to 2.98% on Wednesday morning after ending at 2.96% on Tuesday. The 10-year Treasury yield remained at last week’s 52-week high of 3.16%. Meanwhile, U.S. oil prices rose nearly 2%, with West Texas Intermediate crude trading above 11 114 a barrel. WTI prices have been at an all-time high since the end of March.
Attempts to rally in the stock market
Dow Jones Industrial Average, Nasdaq Composite and S&P 500 all ended with strong gains, with major stock indices taking strong action on Tuesday.
The Big Picture column on Tuesday commented, “The economic data presented on Tuesday indicates the hope that the US economy will not go into recession, despite a new barrage of arrows hanging by the Federal Reserve in an attempt to kill the beast of inflation.” % Assisted in assembly. “
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Investors can also create watchlists, find companies near a buy point, or create custom screens on IBD MarketSmith.
Now five Dow Jones stocks to watch
View Dow Jones Stock: Chevron, Mark
According to IBD Marketsmith chart analysis, Dow Jones leader and power giant Chevron continues to build a flat base with 174.86 by points. CVX shares traded down 0.3% on Wednesday, holding firmly against their latest buy point.
CVX stock has a perfect 99 IBD composite rating for IBD stock checkups. Investors can easily measure the quality of a stock’s fundamental and technical metrics using IBD composite ratings.
Mark, a Dow Jones and drug industry leader, is in the buying range above 89.58 by a cup-with-a-handle, as the stock rose 0.7% on Tuesday. 5% purchase area goes up to 94.06. MRK shares fell on Wednesday morning.
Positively, the relative strength line of the stock is at new heights, indicating the outperformance of the major stock markets during the current stock market correction.
See the four top growth stock carsrCapital market rally
Stock to see: Broadcom, Exxon, Eli Lily
Tuesday’s IBD Stock of the Day, Broadcom, is making a cup with a handle with 645.41 by points, according to IBD Marketsmith chart analysis. AVGO stock was down about 1.6% on Wednesday.
Energy giant Exxon Mobil again crossed the 89.90 buy point of a cup-with-handle, up 2.4% on Tuesday. Shares are in the 5% buy case which goes up to 94.40 XOM shares rose 0.5% on Wednesday.
Pharmaceutical giant Eli Lilly rose 0.7% on Tuesday. Shares of IBD Leaderboard stock are rebounding from their 50-day moving average line, reaching a flat base of 314.10 by points. Eli Lilly’s share price was slightly lower on Wednesday.
Join IBD experts as you analyze the top stocks at the current stock market rally on IBD Live
Tesla’s stock rose more than 5% on Tuesday, almost recovering from Monday’s big loss. Shares threatened to drop some of these losses on Wednesday morning, sliding about 3%. Shares are sharply below their 50- and 200-day moving averages.
On November 4, the stock traded as high as 1,243.49 and is 39% away from that all-time high.
Dow Jones Leaders: Apple, Microsoft
Among Dow Jones stocks, Apple shares rose 2.5% on Tuesday. The stock is bouncing but still well below its long-term 200-day line. Apple shares fell 1.5% on Wednesday.
Software leader Microsoft rose 2% on Tuesday, extending a winning streak in three sessions, but below its 50- and 200-day lines. The stock closed down nearly 24% from its 52-week high. Microsoft stocks moved down 1.5% on Wednesday.
Be sure to follow Scott Lehtonen on Twitter @IBD_SLehtonen Learn more about growth stocks and the Dow Jones Industrial Average.
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