Dow Jones futures wobbled 20 points earlier on Friday, as major stock indexes appeared to rebound from Thursday’s stock losses. Treasury yields flattened ahead of the December jobs report. Ford Motor shares soared in pre-market trading. And Tesla stock has rebounded, as it seeks to regain a key level.
Among the leaders of the Dow Jones, Apple (AAPL) rose 0.6% pre-market on Friday, while Microsoft (MSFT) rose 0.5% in today’s stock market. Still among the Dow 30, Home deposit (HD) remains in a buy zone, while Nike (NKE) fell further below a key level on Thursday.
Head of electric vehicle You’re here (TSLA) traded 1.5% higher before market on Friday. His rival, Rivien (RIVN), a little higher. Lucid group (LCID) fell about 1%. And the Chinese leaders of electric vehicles Li Auto (TO), Nio (NIO) and Xpeng Engines (XPEV) were higher on Friday morning.
Ford engine (F) was up 1.7% in early action, having finished Thursday with a gain of 17.8% so far for the week.
Among the best Friday stocks to buy and watch, Diamondback Energy (CROC), EOG Resources (EOG), Goldman Sachs (GS), Nucor (NUE) and Wells fargo (WFC) are located in or near new shopping areas.
Microsoft and Tesla are stocks in the IBD rankings. Tesla was listed in this week’s Stocks Near A Buy Zone column.
Dow Jones Today: Jobs Report, Treasury Yields
Before the stock market opened on Friday, Dow Jones futures slipped a fraction above fair value, while S&P 500 futures rose 0.15%. Futures on the Nasdaq 100 climbed 0.2%. Small caps have fallen behind, with Russell 2000 futures showing narrow losses.
Keep in mind that the pre-market action on futures contracts on Dow Jones and elsewhere does not necessarily translate into actual trades in the next regular trading session.
Among exchange-traded funds, the Nasdaq 100 tracker Invesco QQQ Trust (QQQ) and the SPDR S&P 500 ETF (SPY) each rose 0.1%.
The 10-year Treasury yield fell to around 1.72% on Friday morning. On Thursday, the 10-year yield climbed above 1.73%, closing at its highest level since March 31 and just below the 2021 intraday high above 1.76%, posted in April. .
Investors were keeping a close eye on the pending hiring figures for December, after a major failure for November. Economists predict that the US economy created 400,000 jobs in December, according to Econoday, with an unemployment rate of 4.1%. A month ago, November data showed 210,000 new hires, less than half of the estimated gain of 550,000 workers. The Department of Labor will release the December jobs report at 8:30 a.m. ET.
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The stock market posted small losses on Thursday as the S&P 500 finished just above its 50-day moving average line.
The Big Picture on Thursday commented: “During bullish trends under pressure, even though the uptrend in the market is still intact, it is time to proceed with caution. Be disciplined and selective about new purchases – focus only on new ones. actions with first-rate fundamental and technical measures. “
After this week’s market losses, it’s an important time to read The Big Picture from IBD.
IBD stock market forecast for 2022
Actions in motion: STMicroelectronics
STMicroelectronics (STM) jumped 4% before-to-market on Friday after the company posted strong preliminary sales for the fourth quarter. The upper token stock is approaching the buy point of a flat base of 52.25. STMicro was the IBD stock of the day on Thursday.
Dow Jones Stocks to Buy and Watch: Home Depot, Nike
Home Depot stock fell 0.4% on Thursday, but remains in a buy zone after a rebound in support. HD stocks were flat before market on Friday.
Dow Jones retail leader Nike continues to build a new flat base that has a buy point at 179.20, according to IBD MarketSmith’s chart analysis. Stocks fell further below their 50-day line on Thursday, falling 0.75%. Nike shares edged up ahead of market on Friday.
Four growth stocks to watch in today’s stock market rally
Stocks to buy and watch: Diamondback, EOG, Nucor, Goldman, Wells
Diamondback Energy is at the top of a buy range above a 117.81 buy point, following Thursday’s 4.7% gain. The 5% buy zone peaks at 123.70. FANG shares rose 0.3% before market on Friday.
On the upside, the stock’s RS line hit a new high on the day of the breakout, confirming the energy stock as the market leader. FANG was featured in Thursday’s IBD Stock Analysis column and shows an IBD composite rating of 98 out of 99, according to the IBD stock balance.
EOG Resources rose 2.05% on Thursday, still in the 5% buy zone after entering 91.74 cups with a handle, according to IBD MarketSmith’s chart analysis. The 5% buy area goes up to 96.33. EOG shares traded up 1% before market on Friday.
IBD Leaderboard Nucor stock dropped its buy point of 122.16 during Thursday’s 5% decline, highlighting the difficulty of moving forward in the current market. Nucor was IBD’s action of the day on Wednesday. Nucor rose 0.5% before market on Friday.
Dow Jones stock Goldman Sachs cut losses to just 0.4% on Thursday, ending just above the 50-day line. The stock is charting a cutting base with a buy point of 426.26. An early entry at 412.76 is also in play. Shares edged higher on Friday morning.
Banking giant Wells Fargo recovered from Wednesday’s 0.9% drop, rising 2.6% on Thursday and reclaiming a buy point of 52.67 on a flat basis. The 5% buy zone goes up to 55.30. WFC shares gained 0.3% before market on Friday.
Join the IBD experts as they analyze the major stocks in the current stock rally on IBD Live
Electric vehicle stocks: Li Auto, Nio, Xpeng, Lucid Motors, Rivian
Li Auto stock continues to work on a new basis. He is testing his long-term 200-day line again amid three straight days of heavy losses. The stock gained around 1% on Friday morning.
Nio stock fell nearly 2% on Thursday, closing around 56% of its 52-week high. Stocks remain well below their 50 and 200 day moving averages. The shares traded over 1% higher before market on Friday.
Xpeng Motors reversed its initial losses to rebound 1.2% on Thursday, but remains below the key 50-day line. There is no valid buy point yet, as stocks continue to form the right side of a new base. The stock rose nearly 1% before market on Friday.
Among US-based electric vehicle stocks, shares of Lucid Motors fell 1% before market on Friday, in a bid to relinquish some of Thursday’s 4.2% lead. LCID stock remains stretched beyond a buy point of 28.49 in a cup base with handle, but huge gains have faded. Stocks have encountered resistance at their 50 day line this week, indicating that the stock’s consolidation may take longer.
Rivian’s recent initial public offering was slightly higher on Friday before market launch, seeking to end a four-day losing streak that took the stock to new all-time lows. RIVN shares closed Thursday at around 51% of their post-IPO highs. Continue to wait for a basic IPO to form before considering a purchase. The recent large losses are a major setback in the stock’s basic process and there is no new buying point in sight with the stock setting new lows.
Five Best Dow Jones Stocks To Watch Right Now
Tesla stock rose 1.5% before market on Friday, in a bid to end a three-day losing streak. The EV leader slipped 2.15% on Thursday, abandoning its critical 50-day moving average line and triggering the 7% to 8% loss reduction sell rule from a buy point of the trendline of 1,119.10. On Wednesday, the stock hit the 7% loss rule from a double bottom of 1,202.05.
Tesla shares considered their 50-day line ahead of Friday’s open. If they are able to decisively recoup their 50 day line, then be on the lookout for a new point of purchase.
The shares traded up to 1,243.49 on November 4, and the stock closed on Thursday about 14% off that 52-week high.
Dow Jones Executives: Apple, Microsoft
Among Dow Jones stocks, Apple stock ended Thursday down 1.7%, extending a three-session losing streak. Stocks remain around 12% beyond a buy point of 153.27 on a cup-and-handle basis, according to IBD MarketSmith’s chart analysis. Apple shares rose 0.6% before market on Friday.
Software leader Microsoft fell further below its 50-day line during the 0.8% decline on Thursday. The most important stock in the Dow Jones continues to burn flat with a buy point of 349.77, but the stock clearly has more work to do before a possible breakout. Shares rose 0.5% before market on Friday.
Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen to learn more about growth stocks and the Dow Jones Industrial Average.
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