The Dow Jones industrial index rose but lagged behind the growth of the Nasdaq. Twitter (TWTR) exploded on the news that Tesla Owner (TSLA) Elon Musk bought the shares. Meanwhile, Donald Trump SPAC Acquisition of the digital world (DWAC) fell sharply.
Apple (AAPL), Microsoft (MSFT) and Intel (INTC) were some of the best blue chips. Chinese stocks such as Alibaba (BABA) also jumped.
The trio of stocks are looking closely at the points of purchase. Synopsis (SNPS), Laredo Petroleum (LPI) and Kimco Realty (KIM) have all established bullish bases.
On the New York Stock Exchange and Nasdaq the volume was lower compared to the same time on Friday.
At the same time, the yield on the benchmark 10-year Treasury bonds rose by three basis points to 2.4%. Oil rose sharply: West Texas Intermediate jumped 4% to more than $ 103 a barrel.
Nasdaq gains in technology as Flex shares
Nasdaq was the best among the major indices, rising by almost 2%. Outside of China shares, Act (OKTA) showed the best results with an increase of almost 8%.
The S&P 500 grew by about 0.7%. Etsy (ETSY) was one of the best performers here, scoring nearly 9%.
A review of the US stock market today
|Index||The symbol||Price||Profit / loss||% change|
|S&P 500||(0S & P5)||4577.13||+31.27||+0.69|
Last updated: 15:00 ET 4/4/2022
Most S&P sectors have actually been in the red. Technology, consumer discretionary services and communication services are in the lead. Health and utilities lagged behind the most.
Small capitalizations lagged behind major indexes, and Russell 2000 gained 0.2%.
As it closes, stocks are rising. Innovator IBD 50 ETF (FFTY), the leader in stock growth, rose 0.6%.
Dow Jones is gaining growth in shares of Apple, Microsoft Pop
The Dow Jones Industrial Average also managed to squeeze out profits. It grew by 0.3%.
Apple shares were among the best, rising by about 2%. Last week, the IBD stock broke from a double bottom.
The point of purchase is 176.75, according to IBD MarketSmith charts, although it may now form a pen.
Shares of Microsoft on the list of leaders also increased, rising by almost 2%. The Intel Play chip grew by about 2%.
But it was Salesforce.com (CRM), which showed the best as it grew by almost 4%.
Shares of Twitter explode when Elon Musk invests
Shares of Twitter have erupted on the news, Elon Musk is now the company’s largest shareholder. It grew by almost 30%.
In a statement to the SEC on Monday, Musk said he owned about 73.5 million shares of Twitter. As of Friday’s closing price, the stake is estimated at $ 2.89 billion.
Elon Musk is now the largest shareholder, owning more shares than the firm’s famous founder Jack Dorsey.
The head of Tesla is one of the most influential users of the site. Just a few weeks ago, he sketched the campaign on the platform and asked followers if it protects freedom of speech.
“Given that Twitter is a de facto public city square, non-compliance with the principles of freedom of speech fundamentally undermines democracy,” he tweeted. – What to do?
However Mask’s position is currently classified as a passive share.
Tesla shares are jumping on supply data
Meanwhile, Tesla shares rose after opening lower after the release of new supply data.
Tesla said it had delivered a record 310,000 vehicles worldwide in the first three months of the year. This is 68% more than the same period a year ago.
This missed some estimates. While Wall Street expected supplies of about 309,000, some analysts forecast 317,000 in the first quarter.
Elon Musk tweeted that it was an “exclusively” difficult quarter due to supply chain problems and Covid’s policies in China.
Shares rose nearly 6%, although the average volume was not ideal. The creation of the right side of the base of the cup continues.
Tesla is included in the prestigious list of leading shares of IBD Leaderboard.
Donald Trump SPAC Dives
In contrast to the positive actions on Twitter, the Digital World Acquisition, SPAC, which plans to post the site on Donald Trump’s social networks, has collapsed.
In addition to competition from Twitter, it has been forced to decline amid reports that the leaders of the social network Truth Social have resigned.
Reuters reported that head of technology Josh Adams and head of product development Billy Boozer have resigned. It is unknown at this time what he will do after leaving the post.
Since its launch, Truth Social has suffered from hiccups, as more than a million users are still on the waiting list as the platform struggles to become fully operational.
Trump himself has not yet used the service, except for a message that reads: “Your favorite president will see you soon.”
While DWAC’s stock rating has a relative strength of 99, putting them in the top 1% of stocks in terms of market performance over the past 12 months, it has been falling recently.
The line of relative strength is declining, and last month it fell by about 30%. It now accounts for about 68% of its all-time high of 175, which it reached last October.
Digital World is SPAC, which launched Donald Trump’s social network application Truth Social. The app was launched to compete with Twitter, which Trump and many critics say restricts free speech.
Alibaba is accumulating at China’s stock rally
Many of China’s shares on Monday went up despite uncertain action in the wider market.
Alibaba, often referred to as Amazon (AMZN) China, jumped about 6%.
Shares are now breaking above the 50-day line, but are still rooting below the 200-day moving average.
E-commerce partner to play Pinduoduo (PDD) was a major stock on the Nasdaq when it rose 15%. Baidu (BIDU) also showed good results, rising by more than 8%.
These are three Eye stock records
According to MarketSmith analysis, Synopsys chip design firm is building a new cup base with an ideal entry point of 377.70. A handle that offers a lower input may also form soon.
The stock boasts the highest comprehensive performance, including an excellent EPS 93 rating of 99. Analysts see steady revenue growth of 16% in 2022 and 16% in 2023.
Laredo Petroleum traded close to its 88.40 buying point with a base cup with a handle. Big money has been accumulating lately, and the rating of their accumulation / distribution is A-.
Energy reserves in general continue to impress as the Russian-Ukrainian war drags on.
Kimco Realty forms a flat base with a perfect entry point of 25.72.
The stock is a double threat, offering a dividend yield of 3.1%. This is more than twice the S&P 500 average of 1.3%.
The real estate investment trust specializes in shopping malls. This can benefit when shoppers return to stores when the Covid pandemic dies down.
Follow Michael Larkin on Twitter at @IBD_MLarkin for more information on stock growth and analysis.
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