Last Updated — 21st Mar, 2023
Stock Market Today Intraday: The Dow Jones Industrial Average rose modestly Wednesday, looking to avoid a seventh straight decline. Fed chief Jerome Powell will speak at the 29th Sep 2022 Community Banking Research Conference in St. Louis at 10:15 a.m. ET. Meanwhile, the 10-year Treasury yield briefly topped 4% for the first time in more than a decade. And several biotech stocks soared on positive Alzheimer’s drug news Intraday stocks today.
Cintas (CTAS), Paychex (PAYX) and Thor Industries (THO) were key earnings reporters Thursday morning. Cintas rose 3.4% after better-than-expected results, while Paychex gained 2.7%. Thor Industries moved up 2% after topping earnings and sales estimates Intraday stocks today.
Netflix (NFLX) climbed more than 2.55% after Atlantic Equities upgraded the stock to overweight. Shares are about 70% off their 52-week high. Electric-vehicle leader Tesla (TSLA) traded 1.3% lower Thursday. Tech titan Apple (AAPL) sold off more than 4% on reports of weak iPhone demand, while Microsoft (MSFT) was down 0.2% after today’s stock market open Intraday stocks today.
Biogen (BIIB) catapulted 39% higher on news that an experimental drug to treat Alzheimer’s slowed cognitive and functional decline in early stages of the disease for a large trial of patients. Biogen’s partner in the venture, Eisai, rocketed more than 60% on the Frankfurt Stock Exchange. And another company working on an Alzheimer’s drug, Eli Lilly (LLY), saw its shares jump 6.5% after the opening bell.
In the ongoing Intraday stock market weakness, DoubleVerify (DV), Hostess Brands (TWNK), Neurocrine Biosciences (NBIX), Toro (TTC), Vertex Pharmaceuticals (VRTX) and World Wrestling Entertainment (WWE) — as well as Dow Jones Intraday stock UnitedHealth (UNH) — are among the top stocks to watch. Keep in mind that the deepening Intraday stock market correction is a time for investors to sit on the sidelines and map out watchlist Intraday stocks today 29th Sep 2022.
DoubleVerify is an IBD Leaderboard Intraday stock. Hostess and Toro were featured in this week’s Stock Near A Buy Zone column. Neurocrine Biosciences was Monday’s Stock Of The Day. Vertex was a Stock Of The Day on Sept. 12.
Dow Jones Today: Treasury Yields, Oil Prices Intraday stocks today
After Wednesday’s opening bell, the Dow Jones Industrial Average rose 0.2%, while the S&P 500 moved up 0.15%. The tech-heavy Nasdaq Composite lost 0.2% in morning action.
Among exchange-traded funds, the Nasdaq 100 tracker Invesco QQQ Trust (QQQ) was down 0.2%, and the SPDR S&P 500 ETF (SPY) rose 0.1%.
The 10-year Treasury yield briefly topped 4% Wednesday morning, marking a new 12-year high, before reversing lower to 3.82%. The 10-year Treasury yield is tracking toward its ninth straight weekly advance, marking its longest rally since 2004. Meanwhile, U.S. oil prices reversed from early losses. West Texas Intermediate futures bobbed back near $80 a barrel, after falling to their lowest level of the year on Thursday Intraday stocks today Intraday stocks today.
Stock Market Correction
The Intraday stock market continued to display weakness Wednesday, as the Nasdaq composite saw the index pare a 2.2% early gain to a gain of 0.2% by the close. Meanwhile, the Dow Jones Industrial Average and S&P 500 hit new bear market lows Intraday stocks today.
Tuesday’s The Big Picture column commented, “Even if major stock indexes flash a sign of strength with a follow-through day in coming days, it won’t be a sign to move aggressively move back into the market. Why? Because growth screens still aren’t yielding much in the way of prospects. Stocks bucking the trend and showing strength when the market is down are tempting to buy. But a weak market eventually takes everything down with it. Avoid the temptation of buying stocks holding up well. It’s an easy way to get chopped up, even if you’re taking small losses Intraday stocks today.”
The Nasdaq’s three-day rally attempt should have investors on the lookout for a potential follow-through day, which is when the Nasdaq or S&P 500 rises sharply in higher volume than the previous session on day 4 and later of a rally attempt. It gives investors the green light to start buying leading stocks breaking out past correct buy points. It should put your portfolio and mindset in sync with the stock market action by gradually committing capital to leading stocks.
Nevertheless, it is important for investors to put this downtime to good use. Now is an ideal opportunity to study market bottoms and to build a strong watchlist of top-performing stocks. Many long-term leaders tend to break out at or near the follow-through day, the market bottoming signal. Missing that early opportunity can be a costly mistake.
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