February 3, 2023

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Dow dives 350 points in strong jobs report;  Tesla drops after quasi detection

Dow dives 350 points in strong jobs report; Tesla drops after quasi detection

The Dow Jones Industrial Average fell more than 350 points after the November jobs report came out better than expected on Friday morning. Tesla stock fell after Delivery of the first all-electric semi-trailer truck.




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Jobs report, earnings movers

The November jobs report was released from the Labor Department at 8:30 a.m. ET. The The US economy added 263,000 jobs in November, beating estimates of 200,000. The unemployment rate held steady at 3.7%, Econoday estimated. Average hourly earnings increased 0.6% in the month, double expectations of 0.3%. Annual wage growth of 5.1% beat expectations of 4.6% and accelerated from an upwardly revised 4.9% in October.

Include companies that have reported earnings Marvel (MRVL), Ulta Beauty (Ulta), Veeva systems (VEEV) And the Zscaler (ZS).

Marvell stock fell 9% in morning trading, while Ulta stock fell more than 1%. VEEV stock is down 4%, and Zscaler is down 12% on Friday morning.

electric car giant Tesla (TSLA) fell by 1% on Friday morning. Technology pioneers at Dow Jones apple (AAPL) And the Microsoft (MSFT) were sharply lower after stock market today Open.

IBD Leaderboard stock Arista Networks (Network), Celsius (CELH), Chubb (Cb) And the Lattice semiconductors (LSCC) – as well as the names of the Dow Jones Boeing (BA), Larva (cat) And the chevron (CVX) – among the top stocks to buy and watch.

Arista Networks is IBD Leaderboard It was fresh stock from IBD Stock today. Boeing is IBD SwingTrader Stocks He was one of the four leaders Featured In this week Arrows near the buy zone column. was a percentage Pick Monday stocks from the IBD 50 to watch.


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Dow jones today: oil prices and treasury yields

After the opening bell on Friday, the Dow Jones Industrial Average sold 0.9%, while the S&P 500 lost 1.1%. The tech-heavy Nasdaq Composite fell 1.5% in the morning move.

within Exchange traded fundsNasdaq 100 Invesco QQQ Trust Tracker (QQQ(losing 1.5% early Friday, the SPDR S&P 500 ETF)spy) decreased by 1.1%.

The 10-year Treasury yield jumped to 3.58% on Friday morning after better-than-expected jobs data. On Thursday, the 10-year Treasury yield fell to 3.52% amid subdued inflation pressures, the lowest since Sept. 21. Meanwhile, investors are placing the probability at 72%, down from 82% a day earlier, of a 50-point rate hike at the Fed meeting this month, according to CME FedWatch tool.

Meanwhile, US oil prices added nearly 1%, on their way to record a weekly advance after three weeks of decline, and after touching their lowest level since December 2021 on Monday. West Texas Intermediate crude futures were trading below $82 per barrel.

Stock market rise

On Thursday, the stock market posted a strong move, with the Nasdaq Technology Composite rising 4.4%. The Dow Jones Industrial Average rose 2.2%, while the S&P 500 rose 3.1%.

On Thursday, he captioned the big picture“,”five below (five) shares rose more than 16%, to reach 20%-25% profit area From 149.99 points of purchase. It is important to take at least some profit on the way to make up for some of the inevitable failures.”

Now is an important time to read IBD’s The Big Picture column Amidst the constant fluctuations in the stock market.

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Five Dow Jones stocks to buy and watch now


Dow Jones stocks to buy and watch: Boeing, Caterpillar, Chevron

Aerospace giant Boeing fell 1.7% Thursday, still holding above 173.95 buy points for the base of the cup. The Buy Zone rose by 5% to 182.65. Boeing shares fell 1.3 percent on Friday.

Dow Jones member Caterpillar finished nearly 238 of its trophy base Point purchaseAnd the to me IBD MarketSmith Pattern Recognition, following Thursday’s drop of 0.3%. CAT stock lost a fraction on Friday.

CAT stock It features a perfect 94 out of 99 IBD compound rating, per IBD stock check.

Energy giant Chevron fell 0.45% on Thursday, ending a touch below 182.50 buy points on a consolidation base. CVX shares fell slightly on Friday morning, even as oil prices extended their recent gains.


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Top stocks to buy and watch: Arista, Celsius, Chubb, Lattice

IBD Leaderboard Arista Networks stock moved out of buy range above 132.97 for a choppy base Point purchase Amid Thursday’s rise of 0.35%. ANET stock fell more than 3% on Friday.

Energy drink maker Celsius rose for the second day in a row, up 1.8% on Thursday. The shares are just 4% away from the 118.29 cup base buy point. The stock fell 2.4% on Friday.

Chubb stayed above a buy point of 216.10 cups on Thursday after losing the session by 0.6%. Buying space is 5%, high at 226.91. The insurance giant fell 0.2% on Friday morning.

According to Lattice Semiconductors, it is in a buy range of over 70.25 buy points IBD MarketSmith chart analysis. Lattice shares lost 2.4% on Friday.


Join IBD experts as they analyze the leading stocks of the current stock market rally on IBD Live

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Tesla stock

Tesla stock Trading was flat on Thursday, pausing after Wednesday’s rally and settling near recent highs. On November 22, the stock hit a 52-week low of 166.19. Stocks are down about 52% from their 52-week highs and sharply below the 50- and 200-day moving average lines.

Shares fell 1% on Friday morning.

Late Thursday, the electric car giant open The long-awaited semi-truck is an 18-wheel electric long-haul truck after it was first announced five years ago. PepsiCo (PEP) received its first trucks during a delivery event at the Tesla factory in Nevada.

Dow Jones leaders: Apple and Microsoft

within Dow Jones stockApple shares rose 0.2% on Thursday, moving further above the recently captured 50-day line. The stock is down about 20% from its 52-week high. Apple stock was trading down 1.2% on Friday.

Microsoft shares fell 0.2 percent on Thursday, after shares hit their highest level since Sept. 13 on Wednesday. The software giant is still about 26% off its 52-week high. Microsoft shares fell 1.5 percent on Friday morning.

Be sure to follow Scott Lehtonen on Twitter at @employee Learn more about developing stocks and the Dow Jones Industrial Average.

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