The Dow Jones Industrial Average advanced while the Nasdaq gave up ground as the stock market split. are you here (TSLA) fell despite CEO Elon Musk’s boasts and his bullish connection on Wall Street. Epam systems (EPAM) rose with a lottery coming from Russia. Home Depot (HD) and Goldman Sachs (GS) was the best in the blue chip category.
A couple of stocks attempted a breakout despite the mixed movement. oil stock coincidence (Shil) and LPL Financial (LPLA) Both took aggressive steps amid energy and financial strength.
Volume was lower on both the New York Stock Exchange and the Nasdaq according to early data. Volatility was also lower, with the Cboe Volatility Index, or VIX, down nearly 2%.
Meanwhile, the yield on the benchmark 10-year Treasury rose by less than one basis point to 2.71%. Oil also rose, with West Texas Intermediate crude up 1.9% to just under $98 a barrel.
Nasdaq plunges as tech stocks suffer
The tech-heavy Nasdaq was the worst performer among the major indexes. It closed at its lowest level for the day, losing 1.3%. Atlassian (TEAM) The worst stock was Nasdaq, down 7.2%.
The S&P 500 reversed lower, shedding 0.3%. Energy Enphase ENPH performed worse as it gave up about 6%.
Overview of the US stock market today
|Dow Jones||(0 DJIA)||34723.03||+139.46||+0.40|
|S & P500||(0S&P5)||4488.68||-11.53||-0.26|
|defect 50||(fifty fifty)||36.60||-0.32||-0.87|
Last update: 4:06 PM ET 4/8/2022
The S&P sectors ended the day mixed. Health and energy performed better while technology and consumer appreciation turned worst.
Small caps were forced lower, with the Russell 2000 index down 0.7%.
Growth stocks were also affected by bears. The Innovator IBD 50 ETF (FFTY), the leader in developing stocks, closed 0.9% lower.
Dow Jones rises as Home Deep shares shine
The Dow Jones Industrial Average was the best performer among the major indexes, rising about 140 points, or 0.4%.
Dow Home Depot stock is up nearly 3%. MarketSmith analysis shows that it is still below the 50-day and 200-day moving averages.
Goldman Sachs also posted solid gains, rising 2.3%. Boeing (BA) slowed again, dropping about 1.6%.
Tesla Stock falls after Elon Musk’s bragging
Tesla stock fell after the Austin-based Gigafactory opened on Thursday.
The Cyber Rodeo event featured music, robotics, and a petting zoo. CEO Elon Musk also boasted about the size of the company’s newest facility.
“Giga Texas is the largest factory building in the world by volume,” Musk said. He joked that the company calculated “You can fit 194 billion hamsters in this building.”
The CEO also promised that the company’s Cybertruck will finally be available next year.
Tesla stock fell despite Goldman Sachs repeating the buy rating for the stock. The company said it was bullish for the full year due to “strong demand for electric vehicles, the leader’s ability to navigate the supply chain…and increased vehicle prices.”
Goldman praised Tesla’s ability to quickly find alternative suppliers.
Tesla stock closed 3% lower. It is still stable above the 21-day exponential moving average, which is near the 1000 level.
Tesla is a member of the prestigious IBD Leaderboard’s List of Top Stocks.
Epam’s stock fee on Russia’s withdrawal
EPAM Systems’ stockpiles rose after news of its withdrawal from Russia. Its big operations there was a problem that hit its stock.
The technology outsourcing company said Thursday that it has begun the process of winding down operations in Russia. A large number of employees have already moved, Ebam said, and more are expected to come.
The company will hire more employees in Europe, Central Asia, India and Latin America to diversify its global network footprint.
Stifel welcomed the move, saying in a note that it “removes the most obvious burden”.
Epam’s stock closed off slightly, but continued to rise 10.1%. Still down over 50% for the year so far
The separate market gathered at the tipping point; Tesla creates a new entry
The stock of oil passes through the point of purchase
Shell stock closed slightly below its level after earlier exceeding 56.23 buying points. It finished the day 1.1% higher and built a bullish base formation with strong support at the 50 day line.
Earnings are also solid, although its EPS rating of 77 out of 99 isn’t perfect. However, analysts expect the company’s earnings to rise this year. They see EPS rising 61% to $8.04. They also saw sales jump 40% to $365.5 billion.
Today’s stock of IBD was attracting institutional investment. This is reflected in the accumulation/distribution rating of A-.
In the meantime, LPL Financial ended the day clear of a point-buy cup with handle at 191.08. This is a base in the first stage, which means that it has a higher chance of success.
Big money was also a net buyer, with funds currently holding 65% of the shares. Analysts see earnings growth of 35% in 2022 and 50% in 2023. The upward movement saw the stock added to the IBD Leaderboard’s list of top stocks.
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