Dow Jones AB; 3 Kathy Wood Buys Pop Amid The Best Of The Month; Tesla flying into a meeting with Elon Musk
The Dow Jones Industrial Average closed higher even so Intel (INTC) dig on profits. It featured a range of purchases by noted fund manager Cathy Wood, incl Teladoc Health (TDOC) because they close in a record month. Tesla (TSLA) when CEO Elon Musk met with Biden administration officials.
Meanwhile, three noteworthy stocks attempted a breakout amid encouraging action: can (can), Titan machines (TITN) And Knight-Swift Transfer (KNX).
Stocks were boosted after the personal consumption expenditures price index slowed year-on-year to 5% in December from 5.5% in November, according to the Bureau of Economic Analysis. This is the preferred measure of inflation used by the Federal Reserve for monetary policy.
The Nasdaq explodes in the form of a fading IBD 50
The Nasdaq was the strongest of the major indexes, rising 1%. EV stock Lucid (LCID) was the clear winner here as it rose 43%. Trading halted several times due to volatility.
The S&P 500 trailed off, adding 0.3%. S&P 500 index Sectors were mostly positive. Telecom services and consumer appreciation fared best, while health and energy were the worst.
Smaller companies also rose, with the Russell 2000 index closing up 0.4%. Growth stocks also jumped, with the Innovator IBD 50 ETF (fifty) up 0.2%.
Dow Jones gains even as Intel shares collapse
The Dow Jones Industrial Average saw the gains fade as it closed up just 0.1%.
American Express (AXP) was up 10.5% after rising in 2023. Earnings fell 5% while revenue rose 17%, both missing the views of Wall Street.
Intel fell 6.4% after it missed Wall Street’s forecast for the fourth quarter while also steering for a loss in the first quarter.
The company is dealing with poor PC sales, production problems, and market share losses to the competition advanced micro devices (AMD).
Tesla Stock Flying in the middle of Elon Musk’s meeting
Tesla (TSLA) was one of the best performers of the day showing an increase of 11%.
It came as CEO Elon Musk met with two Biden administration officials to see how they could work together. He met with Biden’s top adviser on clean energy innovation John Podesta, and Mitch Landrieu who oversees infrastructure spending.
“John Podesta and Mitch Landrieu met with Elon Musk to discuss shared goals around electrification and how a bipartisan Infrastructure Act and Inflation Control Act can boost electric vehicle production and charging as well as the broader cause of electrification,” A White House spokesman told Reuters.
Tesla stock had one of its best days since January 3, 2022, when it rose 13.5%. It rose 33.3% for the week, Tesla’s best weekly gain since May 2013, when it rose nearly 41%, according to market data from Dow Jones.
Cathy wood buys jump as she heads out for beast month
ARK Invest’s portfolio manager Kathy Wood, a big Tesla backer, saw some new purchases pay off immediately on Friday.
Teladoc Health jumped 6.5%. It is trying to catch up with the 200-day moving average after regaining the previous 50-day line, MarketSmith’s analysis appears.
Antilia Remedies (north) managed to climb back above its 50-day moving average after it gained nearly 8%. The volume was below average, however.
Radiation therapy (packages) just below the 200-day line after the 3.3% rise.
Wood added to all three stocks across its various funds on Thursday. Its popular ARK Innovation ETF (ark) is heading towards its best month ever. The fund is up more than 29% so far this month.
If it can maintain this performance, it will easily top the roughly 26% gain returned in April 2020.
why this might be a life-changing walk; 4 stocks near the points of purchase
The New Commander offers early access
viston (VC) actionable after clearing an entry point in the trend line on Friday. It is also approaching a consolidated buying point at 152.20.
The RSL is moving forward again after stopping during the base building period. The stock has been promoted from the Leaders Watch List to the IBD Leaderboard’s List of Best Stocks.
The Detroit Corporation is a leading supplier of auto parts to auto manufacturers. It specializes in ride performance and clean air products and systems.
The overall excellent performance is reflected in a composite IBD rating of 99. It is one of the giants in the industry stronghold (F) And general motors (GM) among its major clients.
Outside the Dow Jones: 3 stocks that tested buying points
The Database Software Play Box is trading in buy territory after clearing a flat base entry of 32.10. This is the first stage rule.
Overall performance is very strong, with a composite IBD rating of a near perfect 97.
Titan Machinery tested a mug insert with a handle of 43.59″. The move came in with low volume, a glitch, and the stock closed below the entry level.
Knight-Swift Transportation briefly cleared a buy point of 62.39 but it fizzled out. The move came in a big way as the trucking company missed analysts’ views for the most recent quarter.
Please follow Michael Larkin on Twitter at @tweet For further analysis of growth stocks.
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