Dow Jones futures rose slightly overnight, along with S&P 500 futures and Nasdaq futures. The stock market rally rose slightly Wednesday in an up-and-down session as hawkish Fed minutes held few surprises. Treasury yields rebounded, still flashing a https://dotbig.com/markets/stocks/MSFT/ recession warning. The stock market rally is under pressure, with the major indexes still facing a lot of key resistance levels. While a number of medicals and a handful of other stocks are acting well, even they can be prone to notable shakeouts.
MarketWatch Money Festival Hear from insiders and experts at the Best New Ideas in Money Festival. BYD stock rose 1.1% to 40.55, after briefly testing its 39.81 buy point from a deep cup-with-handle base for a fifth https://dotbig.com/ straight session intraday. On Sunday, BYD reported June sales of 134,036 EVs and plug-in hybrids, up 224% vs. a year earlier. For the second quarter, BYD sales topped Tesla deliveries by more than 100,000 vehicles.
This Is No Market For Commitment
More generally, the Fed minutes offered no real surprises and underscored the big shift in economic conditions in the past three weeks. Policymakers saw a late July hike of 50 or 75 basis points as likely, according to the Fed meeting minutes.
Among the best ETFs, the Innovator IBD 50 ETF was flat, while the Innovator IBD Breakout Opportunities ETF gained 1%. The iShares Expanded Tech-Software Sector ETF edged up 0.1%, with MSFT stock a top holding.
Dow Bounces After Government Doubles Down On Stimulus Package
IBD Videos Get market updates, educational videos, webinars, and stock analysis. Wynn stock has declined by almost 32% year-to-date, considerably underperforming the S&P 500, which remains down by about 20% over the same period. The stock is currently trading at $77 Microsoft stock price today per share, which is 29% below its fair value of $108 – Trefis’ estimate for Morgan Stanley’s valuation. Walgreens’ adjusted earnings declining 10% to $5.40 over the last twelve months, compared to $5.99 in 2019. Last year’s market was a perfect storm for IPOs.
- Last year’s market was a perfect storm for IPOs.
- Good news on inflation and Fed rate hikes, including tumbling commodity prices and easing job markets, are bad news for a possible recession.
- Mark Zuckerberg, Facebook Say Goodbye to Their CryptoThe CEO of the social media giant has just buried the last project of his ambitions in crypto.
- More generally, the Fed minutes offered no real surprises and underscored the big shift in economic conditions in the past three weeks.
- That would allow a lot of bases to form and for clarity to develop on the economy and Fed policy.
The stock market fell on Tuesday, adding to recent losses as investors returning from the holiday weekend face renewed fears of a looming recession, while shares of Tesla slumped. U.S. crude oil prices fell 1% to $98.53 a barrel, well off morning lows but after diving 8.2% on Tuesday. Gasoline futures, which topped $4 a gallon just a few weeks ago, sank 4% to $3.20. Prices at the pump have been falling for the past three weeks and are set to drop significantly in the next few weeks. The Fed minutes mentioned "inflation" 90 times but not "recession" even once. Since the mid-June Fed meeting, recession fears have swelled while commodity prices have fallen sharply.
Stock Market News
The Dow Jones Industrial Average rose 0.2% in Wednesday’s stock market trading. Stocks remained shaky in morning trading on Wall Street Wednesday after a big sell-off on tech stocks a day earlier. The major indexes rose slightly as Fed minutes held few surprises. Stocks are slumping on Wall Street, erasing a rally from a day earlier, as markets https://en.wikipedia.org/wiki/Bank_of_the_United_States assess the looming fallout from the Federal Reserve’s stepped-up fight against inflation. Electric Vehicle Stocks and ETFs Check out IBD’s interactive guide to investing in the EV space, including the top-rated stocks.4th of July $1 Deal Happy Birthday, America! Celebrate financial freedom with 1 month of IBD Digital for just $1!
Mortgage Demand Falls To The Lowest Level In 22 Years Amid Rising Rates, Slowing Home Sales
Tesla continues to lead in all-electric "BEV" sales, though that gap has narrowed considerably over the past year. The Fed minutes slightly reinforced market expectations for a rate hike of 75 basis points later this month, with 50 basis points in September.
But in the early days of 2022, new headwinds are beginning to emerge. Here’s the price level to watch as Bitcoin continues to seek direction. 7 Best Ways to Reduce Your Tax Bill Next Year – CPA TipsMaxing out your 401k is just one tax tactic that you can take now to reduce your tax bill later. Mark Zuckerberg, Facebook Say Goodbye to Their CryptoThe CEO of the social media giant has just buried the last project DotBig of his ambitions in crypto. Tesla Rival Rivian Delivers Good NewsThe EV maker is increasing production rates in the midst of disruption of supply chains. Receive full access to our market insights, commentary, newsletters, breaking news alerts, and more. Medical stocks remain the clear leaders right now, including IBD 50 members Evolent Health , McKesson , UnitedHealth , Harmony Biosciences and AstraZeneca .
Where Any Recession Could Be ‘less Shallow’
But even that occurs, there could be head fakes and shakeouts along the way for individual stocks and the overall market. Reflecting more-speculative story stocks, ARK Innovation ETF fell 2.25% and Microsoft stock price ARK Genomics ETF dipped 0.2% after both surged above their 50-day lines on Tuesday. Tesla stock is a major holding across Ark Invest’s ETFs. Cathie Wood’s Ark Invest also owns some BYD stock.
Why Is Stock Market Surging Amid Election Uncertainty?
Good news on inflation and Fed rate hikes, including tumbling commodity prices and easing job markets, DotBig are bad news for a possible recession. So markets don’t quite know how to handle economic data.
