Stocks Climb Ahead Of Big Tech Earnings - Gatous News

Stocks Climb Ahead Of Big Tech Earnings

The Dow Jones Industrial Average climbed Monday morning, looking to rebound from Friday’s stock market sell-off. Tech earnings will heat up this week, with reports from alphabet (GOOGL), Amazon.com (AMZN), Apple (AAPL), MetaPlatforms (META) and Microsoft (MSFT).




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Alphabet and Microsoft will report Tuesday. Meta earnings are due out Wednesday. Amazon and Apple earnings are Thursday.

Tesla (TSLA) fell almost 1% early Monday. Elsewhere, Dow Jones tech leaders Apple traded up 0.2% and Microsoft lost 0.5% before today’s stock market open.

In a volatile stock market uptrend, Dow Jones leader UnitedHealth (UNH) — as well as ELF Beauty (ELEVEN), Quanta Services (PWR) and Vera Mobility (VRRM) — are among the stocks to watch. Keep in mind that while the market has flashed rising signs of strength, ongoing volatility is a reason to stay cautious.

UnitedHealth is an IBD Leaderboard stock. Verra was featured in last week’s Stocks Near A Buy Zone column and was a recent IBD Stock Of The Day.

Dow Jones Today: Treasury Yields, Oil Prices

After Monday’s open, the Dow Jones industrials rose 0.3%, and the S&P 500 gained 0.2%. The tech-heavy Nasdaq composite was down 0.1% in morning trade.

Among exchange-traded funds, the Nasdaq 100 tracker Invesco QQQ Trust (QQQ) moved down 0.1%. And the SPDR S&P 500 ETF (SPY) rose 0.15%.

The 10-year Treasury yield ticked higher to 2.83% Monday morning, bouncing back after two straight losing sessions. On Friday, the 10-year Treasury yield hit its lowest level since late May. Meanwhile, US oil prices rebounded, as West Texas Intermediate futures rose more than 1% to trade above $96 aa barrel.

Stock market rally

On Friday, the stock market posted disappointing action, as the Nasdaq took the biggest hit, falling 1.9%.

Friday’s The Big Picture column commented, “Several distribution days fell off the count Thursday, a positive for the nascent uptrend. Despite solid weekly gains for the indexes, the uptrend remains under pressure. Indexes face resistance around round numbers; 12,000 for the Nasdaq composite , 4000 for the S&P 500 and 32,000 for the Dow Jones.”

If you’re new to IBD, consider taking a look at its stock trading system and CAN SLIM basics. Recognizing chart patterns is one key to the investment guidelines. IBD offers a broad range of growth stock lists, such as Leaderboard and SwingTrader.

Investors also can create watchlists, find companies nearing a buy point, or develop custom screens at IBD MarketSmith.


Five Dow Jones Stocks To Watch Now


Dow Jones Stocks To Watch: United Health

Health insurance giant and IBD Leaderboard stock UnitedHealth is just above its double-bottom-with-handle base’s 518.80 buy point after Friday’s 0.2% loss, according to IBD MarketSmith chart analysis. Shares were up 1% Monday.

UNH stock shows a solid 95 out of a perfect 99 IBD Composite Rating, per the IBD Stock Checkup. Investors can use the IBD Composite Rating to easily gauge the quality of a stock’s fundamental and technical metrics.


4 Top Growth Stocks To Watch In The Currightent stock market rally


Top Stocks To Watch: ELF Beauty, Quanta, Verra

ELF Beauty is back below a 33.54 buy point in a cup with handle following Friday’s 4.1% skid. The RS line hit a new high last week, which is a sign of big stock market outperformance. ELF shares rose 1.4% Monday, after Stifel Nicolaus raised its price target from 29 to 34.

Quanta Services is putting the finishing touches on a cup-with-handle base that has a 138.56 buy point, according to IBD MarketSmith chart analysis. Meanwhile, an early entry at 133.68 is also in play. Shares traded down nearly 2% in morning trade.

Verra Mobility continues to trade below a cup with handle’s 16.83 buy point in the wake of Friday’s 1% loss. The stock’s RS line continues to show tremendous strength as it hit another new high last week. Verra shares rose 1% Monday morning.


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


Tesla stick

Tesla stock surged 13.4% last week, fueled by strong earnings results late Wednesday. Shares closed out the week on an eight-day win streak, and they are at their highest level since early May.

Shares dropped nearly 1% Monday morning.

Dow Jones Leaders: Apple, Microsoft

Among Dow Jones stocks, Apple shares slipped 0.8% Friday, but are closing in on their long-term 200-day lines. Shares reclaimed their 50-day line after bullish action in recent weeks. Apple earnings are due out Thursday. The stock traded up 0.2% Monday morning.

Microsoft fell 1.7% Friday, testing support around its 50-day line. The stock closed about 26% off its 52-week high. The software giant will report quarterly results on Tuesday. Microsoft shares fell 0.5% early Monday.

Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones Industrial Average.

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