The Dow Jones Industrial Average fell sharply on Wednesday ahead of the much-anticipated Federal Reserve meeting minutes from the central bank’s latest policy meeting, while US retail sales were weaker than expected. bed bath behind (BBBY) went up again on Wednesday morning.
BBBY stock is set to continue its strong winning streak on Wednesday amid renewed interest in the meme stock, as shares surged 45% before trimming gains to 20% in morning trading. Bed Bath & Beyond, a retailer struggling with big losses, is up 355% from its July 27 low of 4.54 through Tuesday’s close.
The main factors affecting earnings on Wednesday include Analog devices (ADI), Louie (a little), targeting (TGT) And the TJX (TJX). Meanwhile, Dow Jones Cisco Systems (CSCO) will be reported after closing.
Analog hardware shares are down more than 4%. Lowe’s stock It fell nearly 1%. Target stocks are down 4%, while TJX stocks are trading down 1%.
In the current healthy stock market environment, Dow Jones shares coca cola (KO) And the merck (Mrk) – Beside Albemarle (ALB), costco (cost), monolithic power systems (MPWR) And the Initial deal executor (OLLI) – among the top stocks to buy and watch.
Dow Jones today: Treasury yields and oil prices
Early Wednesday, the Dow Jones Industrial Average lost 0.55%, on course to snap up a five-day winning streak. The S&P 500 fell 0.7%. The heavy Nasdaq Composite was down 1.1% in morning trading.
The 10-year Treasury yield rose to 2.88% early Wednesday, after Tuesday’s close of 2.79%. The 10-year Treasury yield is recovering after hitting its lowest level since early April in recent weeks.
Meanwhile, US oil prices fell slightly, threatening to extend the four-session streak of losses that left futures down more than 8%. West Texas Intermediate futures were trading above $87 a barrel, at their lowest level since January.
US retail sales miss, Fed meeting minutes
US retail sales were released at 8:30 AM ET. July sales were flat compared to the previous month, below Econoday’s estimates that called for a 0.1% rise. Excluding autos, retail sales rose 0.4% in July. Excluding cars and gasoline, sales rose 0.7%.
The Federal Reserve releases minutes from its last meeting at 2 p.m. ET. The minutes are expected to reveal evidence of the FOMC members’ thoughts regarding a possible interest rate hike at the upcoming September meeting.
At the last meeting of the Federal ReserveThe central bank raised rates by 75 basis points for the second consecutive meeting, and Fed Chair Jerome Powell indicated that a third such hike “might be appropriate” in September.
stock market rise
On Tuesday, the Nasdaq Composite was down 1.1% on the day but trimmed its loss to 0.2% at the closing bell. The S&P 500 rose 0.2%, while the Dow Jones Industrial Average rose 0.7%.
Tuesday big picture column He commented, “Other elastic performance was good news for the bulls but the stock market is starting to look overbought by at least one indicator. The short-term overbought/oversold oscillator (found at MarketSmith entering the NASDQ) is rapidly approaching its peak in early June. This is the last time the Nasdaq has shown overbought conditions. The index fell sharply for three consecutive sessions from June 9-13. For the month, the Nasdaq is down 9.7%.”
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Dow Jones Earnings: Cisco Systems
Networking giant Cisco Systems is to report its second-quarter earnings results after the close on Wednesday. Dow Jones stock is expected to earn 82 cents per share on sales of $12.7 billion.
Cisco shares on Tuesday finished about 27% off their 52-week high.
Dow Jones stocks to watch: Coca-Cola, Merck
Dow Jones soda giant Coca-Cola is building a flat base with 67.30 POIs. Handle entry at 65.14 is also in play. Stocks are rebounding from the 50-day line and trying to surpass the entry point during Tuesday’s 0.8% gain. The stock fell early Wednesday.
Merck is also building a flat bottom, a pattern that shows 95.82 POs. Accordingly, stocks are trying to hold above the 50-day line IBD Market Smith Graph analysis. Merck shares rose 0.3 percent on Wednesday.
MRK Stock Shows a solid value of 94 out of 99 perfect IBD compound classification, for every IBD stock check. Investors can use the IBD composite rating to easily gauge the quality of a stock’s fundamental and technical metrics.
Top stocks to watch: Albemarle, Costco, Monolithic, and Ollie’s
Lithium product Albemarle still in range of purchase after last Friday’s hack large handle mug with 273.78 buy point. The buying area rose 5% to 287.47. Earlier last week, stocks topped a smaller cup with a handle at 250.25 buying points. Shares fell 1.15% on Tuesday, snapping a four-day winning streak. The stock was down about 0.4% Wednesday morning. lithium giant Sociedad Quimica y Minera de Chile (Square meters) Will notify after closing.
IBD Leaderboard Costco stock pierces a cup with a handle with 552.81 buy points. The stock rose 1.3% on Tuesday, to close just above the last entry. Shares fell 0.6% early Wednesday.
Today’s latest stock of IBD Single-handle Power Systems added to the base of the cup last week, moving the correct buy point from 580.10 to 541.49. Meanwhile, stocks remained above the entry level of 514.80. The stock fell 1.6 percent on Wednesday.
The bargain executor recovers in the first of 10 week streak Important Support Level – The highest discount retailer has been placed in a new buying area. The arrows are also carved Handle after a large cup base, and put the last buy point at 72.37. The current price action is about 9% away from this entry. Shares were down 2.8% on Wednesday morning.
Tesla stock lost 0.9% on Tuesday, ending a two-day winning streak. Shares of the electric car giant fell 1% Wednesday morning.
This week, stocks closed at their highest level since May 4. Stocks are trying to rise again decisively above the resistance around the 200-day line, a key level to watch. The stock is about 25% off its 52-week high. The 3-for-1 stock split will take place on August 24th.
Dow Jones Leaders: Apple and Microsoft
within Dow Jones stockApple shares fell 0.1% on Tuesday, as did the stock Continue to build the right side of the cup base Which has 179.71 buy points. Another explanation could be a big double bottom that extends into January. In both cases, the point of purchase is identical. Keep an eye out for a possible handle on the composition and offering a lower entrance.
To the upside, the stock’s relative strength line has already reached new highs, indicating an outperformance of the large stock market. Shares are up 0.5% Wednesday morning after a pair of target price hikes.
Microsoft stock fell 0.3% on Tuesday, ending close to its long-term 200-day line, which is a major resistance area to watch. The stock was down 0.4% early Wednesday.
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