Stocks open mixed after hot inflation report

The Dow Jones Industrial Average reversed from early losses to rise Friday morning on the back of a hotter-than-expected inflation report. and tech giants (AMZN) and apple AAPL stock rose after announcing strong earnings results late Thursday.


Amazon shares are up 11% in morning trading, while Apple shares are up 2.5% ahead of the market open.

Other key factors driving earnings on Friday morning are energy giants chevron (CVX) and ExxonMobil (XOM), First Solar (FSLR) and Dow Jones Intel Corporation (INTC). Chevron shares are up about 4%, while Exxon shares are up about 2%. First Solar gained 4%. Intel stock fell 11% after it badly missed estimates for the second quarter and trimmed its full-year forecast.

Tesla (TSLA) rose early Friday. Elsewhere, the technology leader at Dow Jones Microsoft (MSFT) is up 0.8% after the stock market open today.

In a volatile stock market environment, Dow Jones stock United Health (United Nations) – well ELF Beauty (dwarf), Quanta Services (PWR), Ulta Beauty (ULTA) and Vertex Pharmaceuticals (VRTX) – Among the stocks to watch. Keep in mind that the constant volatility in the stock market is a reason to remain more conservative despite recent signs of strength.

UnitedHealth and Vertex are IBD Leaderboard shares. ELF and Ulta appeared in the stock column near the buy zone for this week.

Dow Jones today: Treasury yields, oil prices, and inflation report

After Friday’s opening, the Dow Jones Industrial Average rose 0.2%, and the S&P 500 gained 0.7%. The technology-heavy Nasdaq was up 1.1% in morning trading.

Among the exchange-traded funds, the Nasdaq 100 Invesco QQQ Trust (QQQ) Index is up 1.1%. The SPDR S&P 500 ETF (SPY) was up 0.7%.

The 10-year Treasury yield rose to 2.71% on Friday morning, reclaiming part of Thursday’s drop to 2.68%. This week, the 10-year Treasury yield reached its lowest level since early April. Meanwhile, US oil prices continued to recover, with West Texas Intermediate crude futures up more than 2% to trade near $99 a barrel.

The Fed’s preferred inflation gauge was released on Friday morning, with the PCE index up 1% for June and a 6.8% annual increase, both numbers hotter than Econoday’s estimates. Personal income rose 0.6% in June, slightly above estimates.

The PCE Price Index is a measure of inflation in the United States, tracking the change in the prices of goods and services purchased by consumers throughout the economy.

stock market rise

The stock market’s bullish trend ignored the stagnation signal on Thursday, with the Dow Jones Industrial Average and the S&P 500 gaining 1% and 1.2%, respectively. The tech-heavy Nasdaq was up 1.1%. Small cap Russell 2000 rose 1.3%.

Thursday’s big picture column commented, “Use every buy as a reaction to the current strength of the market rally. Don’t panic if you miss the first couple of breakouts. If the stock market uptrend is real, there will be plenty of time to buy stocks and make money. This is a strategy Important because previous follow-ups have failed this year and advances have been cut off.”

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Investors can also create watch lists, find companies close to a point of purchase, or develop custom displays at IBD MarketSmith.

Four Dow Jones stocks to watch right now

Dow Jones stocks to watch: UnitedHealth

Health insurance giant and store IBD Leaderboard UnitedHealth is out of buying above its double-handle base buy point at 518.80 after Thursday’s 1.3% gain, according to IBD MarketSmith chart analysis. Stocks fell on Friday.

UN stock shows 94 solids of Class 99 IBD compounds, per IBD stock check. Investors can use the IBD composite rating to easily gauge the quality of a stock’s fundamental and technical metrics.

4 growth stocks to watch on Cursstock market rally

Top stocks to watch: ELF, Quanta, Ulta, Vertex

ELF Beauty is nearly 1% lower than its 33.54 handle-cup buy point after a two-day winning streak. The RS line reached a new high last week, which is an indication of an outperformance in the stock market. Shares of ELF fell 0.6% on Friday.

Quanta Services decisively broke out after a 138.56 buy point for a teacup base with a handle during Thursday’s 8.45% rally, according to IBD MarketSmith chart analysis. Shares are up nearly 1% on Friday.

Ulta Beauty is building a flat base with 429.58 buying points from the IBD Big Cap 20, moving further above the 50-day streak after rising 1.35% on Thursday. The rule comes on the heels of the failed breakout to enter the cup with handle 426.93 in June. Ulta shares were down 1.5% on Friday.

IBD Leaderboard Vertex Pharmaceuticals stock is testing support around the 279.23-cup handle-buy point, as well as the 50-day line amid Thursday’s 2.15% loss. Vertex stock rose 0.3% on Friday.

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

Tesla Stock

Tesla stock rose another 2.2% Thursday, adding to Wednesday’s 6.2% jump. Shares are at their highest level since early May, but are still nearly 32% off their 52-week high.

Stocks rose on Friday morning.

Dow Jones Leaders: Apple and Microsoft

Among Dow Jones stocks, Apple shares rose 0.4% on Thursday and are building a cushion above the 50-day line after the upward movement in recent weeks. Now, the stocks are trying to regain the long-term 200-day line, which is looming as a resistance level to watch. Apple shares rose more than 2% Friday morning after the company’s earnings results.

Microsoft advanced 2.85% on Thursday, up for the second day in a row. The stock closed about 21% from its 52-week high. Microsoft was trading up 0.8% in morning trading.

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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