Dow Jones Futures Rise As Treasury Yields Retreat After Nasdaq Breaks Support, Tesla, Apple Hit Resistance – Investor’s Business Daily
Dow Jones futures and S&P 500 futures rose barely Friday morning, whereas Nasdaq futures rose modestly As a Outcome of the ten-yr Treasury yield pulled again from 52-week extremes. The inventory market rally had A problemsome session Thursday. The Dow fell modestly whereas the Nasdaq dived under key assist, as Apple inventory, Tesla (TSLA) And a lot of completely different techs tumbled from resistance areas.
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Hovering Treasury yields have been the set off Thursday, although A mannequin new Covid shutdpersonal in France and plunging crude oil prices Did not assist. Investors ought to hugely Maintain away from tech shares whereas investing prudently in completely different rising sectors.
FedEx (FDX) and Nike (NKE) headlined earnings after the shut.
FedEx earnings have been extremeer than anticipated, with EPS and gross sales progress accelerating for A third straight quarter. FDX inventory rose 5% in premarket commerce after dipping 0.9% to 263.51 on Thursday.
Nike earnings beat whereas income fell brief. Nike inventory sank 2% early Friday, off in a single day lows. The Dow Jones huge fell 1.1% on Thursday to 143.17. NKE inventory has a 148.05 buy level.
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Meanwhereas, some huge tech and progress shares hit resistance with the Nasdaq beneath strain as quickly as extra. A pair of examples embrace Tesla inventory, PayPal (PYPL), Pinterest (PINS), Nvidia (NVDA), Apple (AAPL) and Twilio (TWLO).
Volkswagen (VWAGY), which had Discover your self to be signalificantly prolonged amid euphoria for its huge EV push, plunged 15%. Even now, VWAGY inventory Is eighteen.5% above its 10-day line.
Williams-Sonoma (WSM) broke out Thursday, surging 18.5%. WSM inventory gapped out of a base on strong earnings and steerage As properly as to a dividend hike and buyagain.
PayPal and Nvidia inventory are on IBD Leaderboard. PayPal inventory is on IBD Prolonged-Time period Leaders. Tesla inventory, PayPal and Williams-Sonoma are on the IBD 50. PINS inventory is on The huge Cap 20.
Dow Jones Futures Right now
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