The Dow Jones Industrial Average rallied 200 points Thursday, as Apple stock surged before earnings due after the close. Tesla stock raced higher, trading just off all-time highs. And ServiceNow, Shopify and Twilio were key earnings movers.
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Among the Dow Jones leaders, Apple (AAPL) rose 2.7% Thursday, while Microsoft (MSFT) lost 0.3% in today’s stock market. American Express (AXP), Goldman Sachs (GS) and JPMorgan Chase (JPM) eyed new buy points.
Tesla (TSLA) rallied over 2% Thursday, but remains off Tuesday’s all-time highs.
Among companies reporting earnings, ServiceNow (NOW), Shopify (SHOP) and Twilio (TWLO) announced earnings ahead of Thursday’s open. Amazon (AMZN) will report after the close.
Among the top stocks to buy and watch, Alphabet (GOOGL) and Cleveland-Cliffs (CLF) are in or near new buy zones.
Microsoft and Tesla are IBD Leaderboard stocks. Alphabet is an IBD SwingTrader stock. Cleveland-Cliffs was Friday’s IBD Stock Of The Day.
Dow Jones Today
Early Thursday, the Dow Jones Industrial Average rallied 0.55%. The S&P 500 gained 0.9% in morning trade, while the tech-heavy Nasdaq composite moved up 1.1%.
U.S. Stock Market Today Overview | ||||
|---|---|---|---|---|
| Index | Symbol | Price | Gain/Loss | % Change |
| Dow Jones | (0DJIA) | 35680.52 | +189.83 | +0.53 |
| S&P 500 | (0S&P5) | 4587.49 | +35.81 | +0.79 |
| Nasdaq | (0NDQC ) | 15387.11 | +151.27 | +0.99 |
| Russell 2000 | (IWM) | 227.01 | +3.36 | +1.50 |
| IBD 50 | (FFTY) | 49.72 | +1.12 | +2.30 |
Last Update: 11:00 AM ET 10/28/2021 | ||||
Among exchange traded funds, Innovator IBD 50 (FFTY) rallied 1.9% Thursday. Nasdaq 100 tracker Invesco QQQ Trust (QQQ) gained 0.6%. And the SPDR S&P 500 ETF (SPY) moved up 0.6%.
Stock Market ETF Strategy And How To Invest
Stock Market Rally
The stock market rally continues to hit some resistance, as the Dow Jones Industrial Average and S&P 500 headed squarely lower Wednesday. The Nasdaq erased solid gains, ending essentially unchanged for a second straight session.
On Wednesday, The Big Picture commented, “The Nasdaq’s intraday gain of 0.8% did not match the prior session’s early advance of 1%. But the two sessions pretty much mirrored each other in terms of how they finished. Wednesday’s closing-time gain of 12-hundredths of a point, sharply less than 0.1%, is not exactly what stock market bulls would call appetizing.”
For daily stock market commentary, be sure to check out IBD’s The Big Picture.
Five Best Dow Jones Stocks To Watch Now
Dow Jones Stocks To Buy And Watch: Amex, Goldman, JPMorgan
American Express ended Wednesday just below a 178.90 buy point in a cup with handle, according to IBD MarketSmith chart analysis, following last week’s breakout day. Shares fell 0.3% Thursday.
Goldman Sachs is within striking distance of a 420.86 buy point in a flat base following Wednesday’s 1.6% fall. Shares moved up 0.2% Thursday. Meanwhile, JPMorgan remains at the top of the 5% buy zone past a 163.93 entry in a cup with handle after a bounce off the 50-day moving average. The 5% buy area tops out at 172.13. JPM stock was up 0.6% Thursday.
American Express and Goldman Sachs both have strong relative strength lines. A strong relative strength line at the start of a new uptrend is indicative of a potential market leader.
Amazon Earnings
Amazon earnings are due after the close Thursday. When the company reports, analysts expect earnings of $8.90 per share on revenue of $111.5 billion.
Amazon shares rallied 0.1% in morning trade and are just above their 50-day line.
Apple Earnings
Apple rallied nearly 3% ahead of Thursday’s earnings results after the close. Analysts expect the company to earn $1.24 per share on revenue of $85 billion.
Apple shares are holding just above their 50-day moving average, as a new cup base forms with a 157.36 buy point, according to IBD MarketSmith chart analysis. Be on the lookout for a potential handle to offer a more risk-optimal entry.
Stock Market Earnings: ServiceNow, Shopify, Twilio
ServiceNow reported third-quarter earnings that topped Wall Street estimates while revenue guidance edged by expectations. Despite the earnings beat, ServiceNow shares rallied over 2%, just below their recent 681.20 flat-base entry.
Shopify stock gained nearly 2% early Thursday after its Q3 earnings, revenue and gross merchandise volume missed expectations. Shares are right at their long-term 200-day moving average.
Twilio reported better-than-expected Q3 earnings and sales results late Wednesday. But Twilio shares dived 17% in morning trade, tumbling to multimonth lows.
Stocks To Buy And Watch: Alphabet, Cleveland-Cliffs
Wednesday’s IBD Stock Of The Day, Alphabet, is trying to break out past a flat base’s 2,925.18 buy point amid Thursday’s 0.5% loss, according to IBD MarketSmith chart analysis. According to IBD Stock Checkup, the IBD SwingTrader stock boasts a 98 out of a perfect 99 IBD Composite Rating. The IBD Composite Rating identifies stocks with a blend of strong fundamental and technical characteristics.
Cleveland-Cliffs is rapidly nearing a 26.61 buy point in a cup base amid this week’s rally. CLF shares were down over 1% Thursday morning. Meanwhile, the stock triggered a new entry during last week’s sharp move back above its 50-day moving average.
Join IBD experts as they analyze leading stocks in the new stock market uptrend on IBD Live
Tesla Stock
Tesla stock rallied over 2% Thursday morning, trading just shy of Tuesday’s all-time highs. On Monday, its shares hit a $1 trillion valuation after car rental giant Hertz ordered 100,000 Tesla vehicles for its fleet.
The stock hit a record high Tuesday, trading as high as 1,094.94 before reversing lower. TSLA shares are sharply above a 764.55 buy point in a cup with handle, as well as earlier entries at 700.10 and 730. An alternate entry at 900.50 also could be identified.
Dow Jones Leaders: Microsoft
Among the top Dow Jones stocks, software giant Microsoft lost 0.5% Thursday morning, but remains squarely above a recent buy point.
On Oct. 18, Microsoft broke out past a flat base’s 305.94 buy point. The 5% buy zone tops out at 321.24, so the stock is now extended.
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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