Dow futures tilted higher on Friday morning, as the headline inflation reading fell for the first time this year. Over the course of the week, the Dow Jones Industrial Average is set to break out of eight consecutive weeks of losses, as the stock market continues to rally. And after Thursday’s bullish gains, six of the top stocks to buy and watch include supplier Merck and Tesla Livent.
MRVL shares rose 3% after that Exceeding Wall Street Estimates. ULTA shares jumped 8% Strong results in the first quarter. Work day sold out 10% after No earnings estimates. Zscaler stock is up 4%. Better than expected results.
Amid the stock market rally, Dow Jones leaders chevron (CVX) And merck (Mrk) – along with Levent (LTHM), Eli Lilly (LLY), Northrop Grumman (No objection certificate), world wrestling entertainment (WWE) And ZIM Integrated Shipping (ZIM) – Among the top IBD stocks to buy and watch on Friday.
Dow Jones today: Treasury yields, oil prices, inflation data
Ahead of Friday’s open, Dow Jones futures are up 0.3% above fair value, and S&P 500 futures are up 0.65%. Nasdaq 100 futures are up 1.1% in morning trading.
The 10-year Treasury yield fell to 2.73% on Friday morning after closing at 2.76% on Thursday. On Tuesday, the 10-year Treasury yield reached its lowest level since mid-April. Meanwhile, US oil prices fell less than 1%, with West Texas Intermediate crude trading below $114 a barrel.
Early Friday, core personal consumption expenditures – the Fed’s preferred indicator of inflation – rose 4.9% in April, slower than the 5.2% increase in March, which could indicate a slowdown in price increases.
stock market rise
Major stock indexes posted more positive action Thursday, with the Nasdaq tech index up 2.7%.
Thursday the big picture The column commented, “The stock market ended sharply higher Thursday in an upward move that left the S&P 500 and Nasdaq Composite on track to finally end its seven-week losing streak.”
If you are new to IBD, consider taking a look at stock trading system And CAN SLIM Basics. Distinguish chart patterns It is one key to investment guidance. IBD offers a wide range of Stock Growth ListsLike leaderboard And SwingTrader.
Dow Jones stocks to watch: Chevron, Merck
Dow Jones leader and energy giant Chevron is trading above A flat base174.86 buy pointaccording to IBD Market Smith Chart analysis, after Thursday’s rise of 0.7%. Buying zone 5% is topping the top at 183.60. CVX shares were trading a fraction up on Friday.
CVX stock Proud of 99 perfect IBD compound classification, for every IBD stock check. Investors can use the IBD composite rating to easily gauge the quality of a stock’s fundamental and technical metrics.
Merck, Dow Jones and IBD SwingTrader Stocks, are back in the buying range after a cup with handle 89.58 buy pointShares fell 1.5% Thursday. The 5% buy space It rises to 94.06. MRK shares were flat on Friday morning.
stock Relative force line It hit a new high this week, which is a strong indication of the stock market’s outperformance during the current stock market rally.
Stocks to buy and watch: Livent, Eli Lilly, Northrop, WWE, ZIM
Lithium producer and Tesla supplier Livent spread early buy point at 29.68, up 6.8% Thursday. Meanwhile, Livent’s stock continues to rise to the right side of a cup base which has a conventional entry in 33.14. anticipate possible handle To provide more optimal entry to risk. LTHM shares are up 1% on Friday morning.
Pharmaceutical giant Eli Lilly’s stock rose 2.1% Thursday, to close at 314.10 buying points on a flat base. It also topped the early buying action at 309.54 on Thursday. Eli Lilly’s share prices were stable on Friday.
IBD SwingTrader Northrop Grumman is completely shy of a file cup with handles 477.36 buy point. The defense contractor is also rising above the trend line inside its handle. This early entry is located around 464. North Oil Company shares were unchanged Friday morning.
IBD Leaderboard World Wrestling Entertainment is one of the biggest stocks to watch after it closed Thursday in a buying range above 63.81 firm base buy points. The buying zone rose 5% to 67.00. WWE shares rose slightly on Friday.
underwriting leader ZIM Integrated tracks a cup base with 79.05 points of purchase. The stocks are about 10% away from the correct buy point. Watch out for the handle to offer the most perfect entry of the stakes. ZIM shares rose slightly on Friday.
Tesla stock rose 7.4% Thursday, adding to Wednesday’s 4.9% advance. Stocks rose 2% on Friday morning. The stock is still sharply below its 50 and 200 day moving averages.
Tesla stock traded as high as 1,243.49 on November 4. Shares are down 43% from that record.
Dow Jones Leaders: Apple and Microsoft
within Dow Jones stockApple shares rose 2.3% on Thursday. The stock is still well below the long-term 200-day line. AAPL stock is up 1% on Friday.
Shares of the software leader, Microsoft, rose 1.3% on Thursday, but it’s still sharply below its 50 and 200-day lines. The stock has closed about 24% from its 52-week high. MSFT shares rose 0.8% on Friday.
Make sure to follow Scott Lehtonen on Twitter at Tweet embed Learn more about developing stocks and the Dow Jones Industrial Average.
You may also like: