Finance
Dow Jones Rises After Jobs Report; Tesla shares continue to rise | Investor business daily
Dow Jones futures edged higher while other major stock indexes extended gains after Wall Street reacted to a Labor Department jobs report on Friday. The electric vehicle giant showed more strength Tesla (TSLA), which continued to rise in the stock market today.
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Nasdaq and S&P 500 reach highs; ASML, Tencent Music, Agnico-Eagle mines in focus
Before the opening bell, futures on the Dow Jones Industrial Average rose 0.1% from fair value. Futures on the S&P 500 edged higher, while the tech-focused Nasdaq 100 rose 0.1% in premarket trades.
Early Friday, the yield on ten-year government bonds fell to 4.33%. Oil prices paused, with West Texas Intermediate futures trading around $83.90 per barrel.
Among exchange-traded funds, Invesco QQQ Trust (QQQ) and the SPDR S&P 500 ETF (SPY) were both slightly higher before the opening.
Stock Market Today: Tesla, Jobs Report
Tesla shares rose nearly 2% ahead of the open Friday, on pace to extend a winning streak to eight sessions. This week, Tesla is up more than 24%, closing sharply above the long-term 200-day line.
The U.S. economy added 206,000 jobs in June, up from 272,000 in May, according to the Department of Labor’s June employment report. It was expected to add 189,000 jobs. The unemployment rate rose to 4.1%, above the 4% estimate.
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Dow Jones is trading lower
On Wednesday, the Dow Jones Industrial Average fell less than 0.1%. The S&P 500 rose 0.5%, while the tech-heavy Nasdaq composite climbed 0.9%. Both reached new heights.
Investor’s Business Daily’s Big Picture column noted, “The S&P 500 rose 14.5% in the first six months of the year, nearly identical to the index’s gain over the same period last year. In 2023, it rose by 15.9% in the first half. Historically, that’s a good sign for the rest of the year.”
During Wednesday’s IBD Live showthe IBD Live team discussed current trading conditions and how investors should interact with the stock market today.
This is an important time to read The Big Picture column amid the continued action in the stock market. Also learn how to adapt to changing market conditions, with IBD’s new exposure levels.
Learn how to time the stock market with IBD’s ETF market strategy
Stock market today: the best stocks to watch
Burlington Stores (BUL), Carvana (CVNA) And Metaplatforms (META) – plus Dow Jones components Amazon (AMZN), Apple (AAPL) JPMorgan Chase (JPM) And Microsoft (MSFT) – are among the best companies to watch in the stock market today.
There were no new names on it IBD MarketSurges “Breaking Out Today” list, but InterDigital (IDCC) is a recent breakout past a 119.10 buy point in a cup with handle.
look at the MarketSurge List ‘Near Pivot Point’ for stocks that are basically approaching their buy points. For more stock ideas, check out IBD stock lists such as IBD50, Large hood 20 and stocks near a buy zone.
Get real-time buy and sell alerts on stock market leaders with the IBD Leaderboards
Dow Jones: JP Morgan breaks out
Dow Jones stocks worth watching include banking giant JPMorgan. According to numbers, shares are breaking above a flat-base entry of 205.88 MarketSurge Pattern Recognition. JPMorgan was the IBD stock of the day on Monday. Shares gained 0.1% in early trading.
Outside of the Dow Jones Index, Burlington Stores was inactive in premarket trading. At Wednesday’s close, the price was in the buy range above a cup base of 232.69. Carvana is still below the 129 buy point on a Cup basis despite Wednesday’s rise. Carvana shares were flat Friday morning.
And Meta stock is trying to break out above a 514.01 buy point in a cup-with-handle basis, but remains below that level. The Facebook and Instagram parent is a IBD Leaderboard Stocks. Meta shares added 0.2% before the bell Friday.
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Stock market today: companies to watch
These are four stocks in or near buy zones in today’s stock market.
| Company Name | Symbol | Correct purchase point | Purchase point type |
|---|---|---|---|
| Carvana | (CVNA) | 129 | Cup base |
| Dominoes | (DPZ) | 542.75 | Flat base |
| Metaplatforms | (META) | 514.01 | Flat base |
| Amazon | (AMZN) | 191.70 | Flat base |
Source: IBD data as of June 27, 2024
Join IBD experts as they analyze the top stocks in the stock market today on IBD Live
Beautiful seven stocks: Nvidia
Among the Magnificent Seven shares, Nvidia (NVDA) lost 0.8% in the stock market in premarket trading today.
Nvidia shares rose 4.6% on Wednesday, reaching their highest level since June 21. Shares remain sharply above a split-adjusted alternative buy point at 97.40. The leader in artificial intelligence is also an IBD Leaderboard stock.
Dow Jones Leaders: Amazon, Apple, Microsoft
Among the Dow Jones components in the Magnificent Seven, Amazon, Apple and Microsoft were muted ahead of Friday’s stock market open.
Amazon is squarely above a 191.70 buy point on a flat base after a recent breakout. Amazon shares rose 0.3% premarket on Friday.
Shares of Apple rose 0.6% on Wednesday to hit record highs. The stock is extended above the 199.62 buy point of a cup base. Apple fell early on Friday.
Microsoft shares rose 0.3% on Wednesday, further above the 430.82 buy point from a flat base and hitting more new highs. And early Friday, the stock fell marginally.
Make sure you follow Scott Lehtonen on X, formerly known as Twitter, at @IBD_SLehtonen to learn more about growth stocks, the Dow Jones Industrial Average, and the current stock market.
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