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S&P 500 is leading the main level in the market bullish; Riots hit the Apple iPhone factory in China

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Dow futures were little changed early Wednesday, along with S&P 500 futures and Nasdaq futures. The stock market rally rebounded on Tuesday, with the S&P 500 regaining the 4,000 level. A massive Apple iPhone factory in China faced riots overnight amid Covid restrictions.




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monastery (DE) reports its earnings early Wednesday, with DE shares in buy territory. Gains and guidance can be important for a variety of agricultural stocks, incl CF Industries (CF) And the Archer Daniels Midland (adm), as well as machine makers such as Larva (cat).

Energy stocks continue to do well. Solar leader Enphase energy (ENPH), a coal producer Peabody Energy (British thermal unit) , Colander CVR Energy (CVI) and a natural gas producer EQT Corp. (EQT) and LNG stocks energy superiority (Which) are all close Buy points.

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EE stock broke out on Wednesday, with Enphase back in buy territory. BTU, CVR Energy and EQT stocks actionable.

ENPH stock is on IBD Leaderboard. EQT stock is on SwingTrader. Deere stock is at defect 50. Peabody Energy is on Tuesday IBD stock today.

Apple iPhone factory riots

Riots reportedly broke out overnight at Apple’s largest iPhone factory in China, as hundreds of employees clashed with security. More than 100,000 workers have been forced to live on Foxconn’s Zhengzhou campus for weeks due to Covid concerns, with many not being paid during that time.

This comes amid renewed lockdowns and severe restrictions in most parts of China as COVID cases surge.

Apple recently warned that the Apple iPhone 14 Pro models will be in short supply due to the Foxconn factory in Zhengzhou.

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Apple stock rose 1.5% to 150.18 on Tuesday, finding support near the 50-day line but still below the 200-day moving average.

Dow jones futures today

Dow futures contracts were fixed against fair value. S&P 500 futures changed little. Nasdaq 100 futures fell 0.15%.

Crude oil futures have changed little. Natural gas prices increased by 4%.

The New Zealand central bank raised interest rates by 75 basis points as expected.

The Fed’s meeting minutes from its November meeting will be released on Wednesday.

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Remember to work in overnight Dow Jones futures contracts and elsewhere that does not necessarily translate into actual trading in the next regular session Stock market session.


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Stock market rise

The stock market opened mixed Tuesday but gained steam for broad gains, closing near session highs.

The Dow Jones Industrial Average rose 1.2% on Tuesday Stock market trading. The S&P 500 and Nasdaq Composite both jumped nearly 1.4%. Small cap Russell 2000 rose 1.1%.

The 10-year Treasury yield fell 7 basis points, to 3.76%. But the two-year Treasury yield, which is closely tied to Fed policy, was roughly flat at 4.53%.

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The dollar fell on Wednesday after rising in the previous three sessions. The dollar has fallen significantly since late September, and especially from early November.

US crude oil prices rose 1.1% to $80.95 a barrel, extending its recovery from Monday’s short-term decline. Gasoline futures jumped 4.3 percent, which is good news for refiners. Natural gas futures rose after falling more than 2% on the day.

Exchange Traded Funds

between the The best mutual fundsThe Innovator IBD 50 ETF (fifty) jumped 3.4%, supported by a number of energy and metals stocks. iShares Expanded Technology and Software ETF (IGV) increased by 1.8%. VanEck Vectors Semiconductor Corporation (SMH) figured 2.9%.

SPDR S&P Metals & Mining ETFs (XME(gained 3.2%, and the US X Global Infrastructure Development Fund (ETF) (cradle) by 1.3%. SPDR S&P Homebuilders ETF (XHB) rebounded 1.9%. Energy Defined Fund SPDR ETF (xle) increased by 3.1%. SPDR Health Care Sector Selection Fund (XLV) rose 0.9% to the highest level in seven months.

Reflecting stocks with more speculative stories, ARK Innovation (ark(gain 0.3% and ARK Genomics)ARKG) decreased by 0.4%.

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Top five Chinese stocks to watch now


Energy stocks near points of purchase

Enphase stock rose 4% to 320.44 to close above 316.97 mug with handle Buy a point for the first time. However, the last three times ENPH stocks hit these areas, they reversed lower. Enphase stock tends to have large daily fluctuations. So investors may be looking to see if ENPH stock retraces to its rapidly rising 21-day moving average.

Some other LNG stocks are showing strength, with Flex LNG (FLNG) break out and Cheniere Energy (liquefied natural gas) Take back the 50-day streak.

BTU stock jumped 6.7% to 29.62, just below the buy point of the 30.15 handle on the seven-month consolidation. Tuesday’s move broke the trend line of the handle, providing an early entry. However, BTU stock is 9.3% above the 21-day line and 17% above the 50-day line. The handle formed after strong earnings from Peabody Energy.

CVR Energy rose 4.85% to 40.85, clearing the old buy point of 39.81 that could still be considered valid. Also, the CVI stock contains a Tight three weeks Form with entry 42.31. Entry above 41.31 may provide an early entry for this narrowing pattern.

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EQT stock jumped nearly 6% to 43.79, and once again broke above the 50-day line after rebounding from the 200-day high on Monday. The stock is breaking a downward sloping trend line. The official buy point is 52.07.

EE stock rose 9.6% to 30, clearing 28.49 cups of a buy-handle point in above-average volume, according to MarketSmith Analysis. This move to a record close cleared out a large amount of the trading that occurred way back in Excelerate Energy’s initial public offering in April. EE stock flashed early entries on Friday and Monday, though trading was lower than usual on those days. Excelerate has now extended slightly from the overbought area and has extended well from the 21 day line.

Market rally analysis

The stock market rally continues to show constructive action, trading in a narrow range after a modest decline and support last week. On Tuesday, the major indexes rebounded from Monday’s losses.

The S&P 500 has bounced off the 10-day line, right at the 4000 level, as it moves towards the 200-day line. Although it was no higher than the intraday high on November 15, it was the index’s best close in more than two months.

The 50-day streak is Just It started rising on the S&P 500.

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Russell 2000 is approaching 200 days. The S&P MidCap 400 Index, which held its 200-day line last week, posted more gains.

The leading Dow Jones index surpassed the 34,000 level for the first time in three months, just below the peak on Aug. 16. The lagging Nasdaq found support at the 21-day line, just above the 50-day line, but it didn’t recoup all of Monday’s losses.

All of these indexes run on knobs, with the Dow Jones sneaking up above. Most of the stocks follow the movement of the main indices, so a lot of handles are formed on the stocks near the buy points. A little longer pause, perhaps until key economic reports late next week, could allow the moving averages to start catching up.


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What are you doing now

Until the S&P 500 moves decisively above the 200-day line, investors may not want to add too much exposure right now. With trading muted over the Thanksgiving holiday and important economic data released by the Federal Reserve next week, the market’s rally could be range-bound in the short term.

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This can help stocks from a variety of sectors create handles and gain ground. Investors should build their watch lists. It’s definitely time to look beyond traditional technology growth stocks, which are often lagging behind right now.

Since many of the leaders extend from moving averages, such as Excelerate Energy stock or BTU, it is crucial to look for early entries and act quickly.

Read The Big Picture Every day to keep up with the market trend, stocks and leading sectors.

Please follow Ed Carson on Twitter at @tweet For stock market updates and more.

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Coinbase CEO Brian Armstrong Says He’s ‘Puzzled’ That FTX’s Sam Bankman-Fried Isn’t ‘Really Taken’

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FTX founder Sam Bankman-Fried should now be in custody, in connection with Brian Armstrong. The Coinbase The CEO said this week it was “puzzling to me why he wasn’t already in custody”.

“The Department of Justice or whoever should be able to testify — just based on his public statements, I think there is a very open and closed case of fraud,” Armstrong said At the a16z Crypto Founders Summit on Tuesday. He added, “I’m no expert on this, but the people I talk to seem to agree on that.”

Armstrong also asked why the media refrained from describing Bankman Fried as a criminal.

“I think we were all shocked to see the scale of fraud that happened at FTX. And let’s call it a scam. We have to call it what it actually is. It was very strange that the mainstream media didn’t really come out and say, ‘This guy is a criminal.’ They probably want to wait until He’s already being charged or something, and in custody. But it seems pretty clear at this point that that’s the case.”

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FTX exploded spectacularly last month, surprising many in and outside the crypto sector. The $32 billion exchange has established itself as an industry leader, yet Recruit star athletes Like Tom Brady and other celebrities to enhance her image. Its collapse shook confidence in the cryptocurrency sector and sparked calls for tighter regulation.

Bankman-Fried resigned as CEO of FTX on November 11, the same day that the company, along with the trading arm of Alameda Research, Filed bankruptcy. One of the main accusations leveled against Bankman-Fried is that it used customer funds from its cryptocurrency exchange To finance risky bets At Alameda Research.

Armstrong Coinbase, like FTX, is a cryptocurrency exchange. But while FTX Bankman-Fried is based in the Bahamas – where he reportedly enjoyed a program Luxurious penthouse lifestyle—Coinbase is a public company in the United States

“You can read our financials,” Armstrong said. “Audited by a third party, you don’t have to trust us. All client funds are segregated. We don’t invest any money from clients without their express direction.”

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People will go to jail

Armstrong wasn’t the only cryptocurrency mogul to share Bankman-Fried’s harsh views this week. Mike Novogratz, CEO of cryptocurrency firm Galaxy Digital Holdings, told Bloomberg Television On Thursday, “Sam and his colleagues swindled. They used clients’ money to bet that he ‘mismanaged the risk’ after he made it.”

The problem was that he took our money. Novogratz added. “And so he needs to be sued. People are going to go to jail, and they should go to jail.”

Shares in Coinbase and Galaxy Digital are both listed in Canada dropped more than 25% last month, exacerbating an already harsh “crypto winter.” Coinbase shares are down nearly 80% this year, wiping out about $44 billion in value. Black stone CEO Larry Fink said this weekI actually think most companies wouldn’t exist, he said, referring to the embattled crypto sector.

Last week, Mark Cuban, billionaire owner of the Dallas Mavericks and a prominent crypto investor, told TMZ that Bankman-Fried You should worry about it jail time.

“I don’t know all the details,” he said, “but if I were him, I would be afraid to go to prison for a long time.” “It sure looks bad. I actually talked to the guy, and I thought he was smart, but boy, I had no idea he was going to take other people’s money, you know, and put it to his own personal uses. Yeah, that sure… looks like it happened.” .

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Armstrong lamented the fact that the crypto sector attracts an overwhelming number of bad actors.

“We have to kind of come to terms as an industry with the fact that our industry attracts a disproportionate share of scammers and scammers. And that’s really unfortunate. It doesn’t mean it’s representative of the entire industry.”

This story originally appeared on Fortune.com

More Fortune: The American middle class at the end of an era Sam Bankman-Fried’s crypto empire was run by a gang of kids in the Bahamas who all dated each other. The 5 most common mistakes lottery winners make Tired of the new Omicron variant? Be prepared for these symptoms

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Amazon resumes advertising on Twitter

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© Reuters. FILE PHOTO: The Amazon logo is seen outside the JFK8 Distribution Center in Staten Island, New York, US November 25, 2020. REUTERS/Brendan McDiarmid

(Reuters) – Amazon.com Inc (NASDAQ:) plans to reinvent advertising on Twitter at about $100 million annually, pending some security tweaks to the social media company’s advertising platform, according to a tweet by a Platformer reporter Saturday.

Twitter CEO Elon Musk also said Apple Inc (NASDAQ::) has resumed advertising on the platform, according to a Bloomberg report, citing comments made during a Twitter Spaces chat on Saturday.

Amazon, Apple and Twitter did not immediately respond to a Reuters request for comment.

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FTX founder Sam Bankman-Fried says he can’t count the billions sent to Alameda

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The businessman says he had little insight into the workings of the trading company despite owning 90% of it.

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