No products in the cart.
- Latest
- Trending
ADVERTISEMENT
The gains in the Dow Jones Industrial Average faded as the index lost momentum. A senior Federal Reserve official issued an inflation warning. coin base (coin) plummeted even as bitcoin rose again. riot blockchain (Riot)rise. Walt Disney (DIS) was the top blue chip by revenue.
Three impressive strains were among the breakout strains.sector leader bullfighter resource (MTDR), Western Midstream Partner (Wes) When beautiful harbor (CLHMore) all tested points of purchase.
X
Trading volume rose on the Nasdaq but fell on the New York Stock Exchange, preliminary data showed.
The benchmark 10-year Treasury yield rose 11 basis points to 2.89%. West Texas Intermediate crude rose about 2.5% to just over $94 a barrel.
Stocks were pushed higher on Thursday amid more encouraging inflation data.
Wholesale prices fell 0.5% in June, beating analyst expectations of 0.3%, according to new producer price index data. Core prices are up 0.2% from June to his 0.4% of consensus.
Year-on-year, the price rose 9.8%, below consensus of 10.3%. The core rate was up 7.6% for him, just below his 7.8% of consensus.
But San Francisco Fed President warned that it is too early to “declare victory” in the fight against inflation. she told the Financial Times She doesn’t rule out a third consecutive 0.75% rate hike when the Federal Reserve meets in September. However, she said September’s 0.5% point rate increase is her “baseline.”
While Daly welcomes the latest inflation report, he would like to see more evidence that the central bank is “on track to significantly lower inflation and achieve its price stability target.”
Profits evaporated as the Nasdaq fell 0.6%. docusign (document) was one of the worst laggards, down 4%.
The S&P 500 also stalled progress, closing down 0.1%. devon energy (DVN) was the top performer here, at 7.3%.
An Overview of the US Stock Market Today | ||||
|---|---|---|---|---|
| index | symbol | price | profit/loss | % Change |
| Dow Jones | (0 DJIA) | 33337.13 | +27.62 | +0.08 |
| S&P 500 | (0S&P5) | 4207.34 | -2.90 | -0.07 |
| Nasdaq | (0NDQC ) | 12779.91 | -74.90 | -0.58 |
| Russell 2000 | (IWM) | 196.53 | +0.91 | +0.47 |
| IBD50 | (FFTY) | 29.57 | -0.02 | -0.07 |
Last updated: August 11, 2022 4:24 PM ET | ||||
Majority of S&P 500 sector is negativeEnergy, financial and industrial stocks performed the best. Consumer discretion and health have given up most ground.
The Russell 2000 Index rose 0.5%, with small caps outperforming the major indices.
Innovator IBD 50 ETF (FFTYGrowth stock trailblazer) turned around in the second half as it closed 0.1% lower.
The Dow Jones saw its early gains fade, but ended with a thin gain of 0.1%.
Walt Disney stock was the Dow Jones’ top performer today. The company surpassed Wall Street’s goals for earnings, earnings and subscribers for the third quarter of the fiscal year.
Disney also announced plans for Disney+ with ads and a 38% price increase for the ad-free version.
Disney’s stock has risen from its mid-July low and is now breaking away from its 50-day moving average, according to the company. marketsmith analysisHowever, it is more than 41% below its March 2021 high of 203.02.
Chevron (CVX) was also up by 2.4%. On the downside, Johnson & Johnson (JNJ) fell 2.1%, leading to rear gains.
Coinbase shares plunged Thursday as poor quarterly reporting finally seemed to catch up. Cryptocurrency exchange stocks fell as bitcoin rose again.
The massive rally and bitcoin surge saw COIN miss earnings prospects by a large margin, rising despite the company significantly lowering its projections for the number of trading users for the year. Coinbase now expects 7-9 million monthly trading users, compared to his 5-15 million range three months ago.
However, Coinbase’s stock plunged 10.8% on Thursday, posting above-average trading volumes. The short-term moving averages and majors have fallen towards his 50-day line.
Bitcoin was trading above $24,000 after gaining nearly 2% over the past 24 hours. According to CoinDesk.
I’ve had better luck playing other cryptocurrencies. Grayscale Bitcoin Trust (GBTC) rose 1.5%, while Bitcoin mining play Riot Blockchain rose 4.5%. The latter’s stock is currently up more than 15% in a week.
Matador Resources made a bullish move above the buy point of the cup with handles at 58.68. MarketSmith Analysis ShowThe oil and gas explorer company has an EPS rating of 99 at best. It is also in the top 3% of stocks in terms of price performance over the last 12 months.
matador is a member sector leader, the most rigorous and robust screening for IBD. All his IBD sector leaders have shown outstanding profit and sales growth in recent quarters and outperformed on many other fundamental and price performance metrics.
Western Midstream Partners is now in the buying zone after breaking through its own cup base with handles. The entry point here is 27.80. The play of natural gas shipping has seen its relative strength line rise higher.Excellent all-around performance 99 IBD Overall Rating.
Clean Harbors has seen the relative strength line reach new heights above the double bottom base buy point at 115.10. I closed it just below this entry. Profits are increasing due to pollution control efforts. EPS increased by 81% on average Over the past three quarters.
Follow Michael Larkin on Twitter. @IBD_M Larkin For a detailed analysis of growth stocks.
You’ll probably also like:
MarketSmith: Surveys, charts, data and coaching all in one place
These are the 5 best stocks to buy and watch right now
This is the ultimate Warren Buffett stock, but should you buy it?
