- Dow Jones Futures Rise: Salesforce Jumps, Four Titans Near Buy Points; Inflation Data Due Investor’s Business Daily
- Dow futures lift, Salesforce adds 5.7% after earnings By Investing.com Investing.com
- Salesforce Stock Rises After-Hours Following Earnings, Upbeat Outlook The Wall Street Journal
- Salesforce ‘very thirsty’ to be AI CRM leader, Benioff says following strong outlook, improved margins MarketWatch
- NASDAQ 100, Dow Jones, S&P 500 News: Nvidia, Tesla Lead Tech Revival; 3M’s Surge Boosts Dow FX Empire
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Tag Archives: jumps
Hawaiian Electric points finger at Maui County over devastating wildfires, stock jumps 40% – CNBC
- Hawaiian Electric points finger at Maui County over devastating wildfires, stock jumps 40% CNBC
- HECO denies claims its power lines started Lahaina fire, insinuates county holds blame Hawaii News Now
- Deadly Maui Wildfires Possibly Caused By Bare Electrical Wire, Leaning Poles HuffPost
- Investigation into cause of Maui wildfire intensifies l GMA Good Morning America
- Shutting off power to reduce wildfire risk on windy days isn’t a simple decision – an energy expert explains the trade-offs electric utilities face The Conversation Indonesia
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Gadar 2 Second Saturday Box Office: Sunny Deol Film jumps by 55 percent on day 9 to create an all time record – PINKVILLA
- Gadar 2 Second Saturday Box Office: Sunny Deol Film jumps by 55 percent on day 9 to create an all time record PINKVILLA
- Gadar 2 Box Office Estimate Day 9: Creates an ALL-TIME RECORD on 2nd Saturday by surpassing Baahubali 2 to claim the no. 1 spot; collects Rs. 32 crores Bollywood Hungama
- Gadar 2 box office collection day 9: Sunny Deol film earns ₹336.13 crore Hindustan Times
- Sunny Deol thanks fans for their love as Gadar 2 crosses Rs 300 crore mark: Gadar 2 and Tara Singh are fo IndiaTimes
- Gadar 2 Box Office: Film does the unthinkable, jumps by over 50% on Saturday, first ever biggie to do so Bollywood Hungama
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Rocky Aur Rani Kii Prem Kahaani Box Office Estimate Day 3: Jumps again on Sunday; collects Rs. 19.50 crores – Bollywood Hungama
- Rocky Aur Rani Kii Prem Kahaani Box Office Estimate Day 3: Jumps again on Sunday; collects Rs. 19.50 crores Bollywood Hungama
- Review – Rocky Aur Rani Ki Prem Kahaani Gulte
- Ranveer Singh reveals people would be on ‘alert’ when Jaya Bachchan was on Rocky Aur Rani Kii Prem Kahaani set: ‘She has that authority’ The Indian Express
- Rocky Aur Rani Kii Prem Kahaani couple Ranveer Singh, Alia Bhatt beat rumours of trouble in real-life marriag Bollywood Life
- Rocky Aur Rani Kii Prem Kahaani Opening Weekend Box Office: Karan Johar’s film clocks 44.50 crore in 3 days PINKVILLA
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Dow Jones Futures Fall On Weak Jobs Report; Alibaba Jumps On $1.1 Billion Fine | Investor’s Business Daily – Investor’s Business Daily
- Dow Jones Futures Fall On Weak Jobs Report; Alibaba Jumps On $1.1 Billion Fine | Investor’s Business Daily Investor’s Business Daily
- Dow Tumbles Over 300 Points; US Jobless Claims Increase More Than Projected – ASLAN Pharma (NASDAQ:ASLN), Benzinga
- How These 2 AI-Linked Stocks Soared on a Tough Market Day The Motley Fool
- Dow Jones Futures: Jobs Report Looms Large As Yields Soar; Meta Leads 7 Resilient Stocks | Investor’s Business Daily Investor’s Business Daily
- Stock Market Today: Stock futures wobble after June jobs data MarketWatch
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Dow Jones Falls On Surprise Drop In Jobless Claims; Walmart Jumps On Earnings | Investor’s Business Daily – Investor’s Business Daily
- Dow Jones Falls On Surprise Drop In Jobless Claims; Walmart Jumps On Earnings | Investor’s Business Daily Investor’s Business Daily
- Stocks making the biggest moves midday: Walmart, Netflix, Alibaba, Nvidia & more CNBC
- Stocks mixed amid debt debate, Walmart earnings: Stock market news today Yahoo Finance
- Dow Jones Lags Big Tech After Walmart, Cisco Reports; Progressives To Biden: End Debt-Ceiling Talks, Invoke 14th Amendment Investor’s Business Daily
- 4 stocks to watch on Wednesday: Target, Doximity and more (NYSE:TGT) Seeking Alpha
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BuzzFeed says it will use AI to help create content, stock jumps 150%
New York
CNN
—
BuzzFeed said Thursday that it will work with ChatGPT creator OpenAI to use artificial intelligence to help create content for its audience, marking a milestone in how media companies implement the new technology into their businesses.
Jonah Peretti, the company’s co-founder and chief executive, told employees in a memo that they can expect “AI inspired content” to “move from an R&D stage to part of our core business.”
Peretti elaborated that the technology will be used to create quizzes, help with brainstorming, and assist in personalizing content to its audience. BuzzFeed, for now, will not use artificial intelligence to help write news stories, a spokesperson told CNN.
“To be clear, we see the breakthroughs in AI opening up a new era of creativity that will allow humans to harness creativity in new ways with endless opportunities and applications for good,” Peretti said. “In publishing, AI can benefit both content creators and audiences, inspiring new ideas and inviting audience members to co-create personalized content.”
“When you see this work in action it is pretty amazing,” Peretti added, vowing to “lead the future of AI-powered content.”
The news sent BuzzFeed’s sagging stock skyrocketing more than 150% in trading Thursday to more than $2 a share.
Media industry leaders have increasingly said that artificial intelligence will revolutionize their businesses.
While BuzzFeed is the biggest digital content creator to move to implement OpenAI’s technology into its business, some other outlets have taken similar steps.
CNET recently used an artificial intelligence tool to help write stories. But the process did not go smoothly, with a number of articles ultimately requiring corrections.
In a note published online Wednesday, CNET Editor-In-Chief Connie Guglielmo apologized for the errors and said new processes had been put in place to prevent them in the future.
But, Guglielmo said, the outlet will not shy away from using artificial intelligence moving forward.
“The process may not always be easy or pretty, but we’re going to continue embracing it – and any new tech that we believe makes life better,” Guglielmo wrote.
The Associated Press also began using artificial intelligence to automate news stories nearly a decade ago.
S&P 500 rises after strong GDP report, Nasdaq jumps nearly 1% on Tesla results
The Nasdaq Composite rose Thursday as fourth-quarter gross domestic product came in above expectations, and investors parsed through the latest batch of corporate earnings.
The tech-heavy index jumped 1.2%, while the Dow Jones Industrial Average traded 104 points, or 0.3%, higher. The S&P 500 rose 0.6%.
GDP data released Thursday showed the economy expand at an annualized rate of 2.9% during the fourth quarter, the Commerce Department said. That’s above the 2.8% Dow Jones estimate, but represents a slight cooldown from the third-quarter reading.
“With today’s better-than-expected GDP number, I think investors are thinking, maybe we can get away with a pretty soft, mild recession that is not likely to throw us into an even deeper bear market when all is said and done,” said Sam Stovall, CFRA Research’s chief investment strategist.
Meanwhile, earnings season trudged on, with strong results from Tesla giving the Nasdaq and electric vehicle stocks a boost. Tesla jumped 9% after posting record revenue and solid earnings. Beaten-up technology giants Microsoft, Apple, Amazon and Alphabet added more than 1% each.
Airline earnings also rolled out, with Southwest falling on a larger-than-expected loss fueled by its holiday meltdown. American Airlines rose on a fourth-quarter beat.
Elsewhere, Chevron added 3% after announcing a $75 billion share repurchasing program.
Wall Street is coming off a mixed session, but all the major averages are headed for weekly, and monthly, gains. The Dow and S&P are up 1.5% and 1.9% so far this week, respectively. The Nasdaq has gained 3.1% this week and is on pace for its best month since July.
Focus now shifts to next week’s Federal Reserve policy, where the central bank is widely expected to announce a 25 basis point hike as it battles high inflation. Investors will be on the lookout for clue into how much further the Fed intends to hike before it cuts rates.
Dow jumps 300 points to start the week as investors weigh next Fed rate move
Stocks rallied Monday as investors contemplated a potential slowdown in rate hikes from the Federal Reserve and braced for a busy week of earnings.
The Dow Jones Industrial Average jumped 318 points, or 0.9%, while the S&P 500 added 1.4%. The Nasdaq Composite surged 2.1%.
Semiconductor stocks and shares of Tesla and Apple gained on hopes that a reopening in China would boost their businesses. Both big tech names recently grappled with temporary shutdowns and blows to production as the country dealt with surging Covid-19 cases.
Investors have begun weighing the possibility that the Fed is preparing to slow the pace of its inflation-fighting rate hikes after months of aggressive tightening. Economic data released last week showed a decline in wholesale prices and retail sales, along with commentary from central bank officials, seemed to signal a slowdown.
Remarks from Fed Governor Christopher Waller Friday seeming to favor a quarter percentage point rate increase at the next meeting lifted investors’ hopes for a downshift. A Wall Street Journal report Sunday raised the possibility of a spring pause to rate increases — a sign that the Fed could be nearing the end of its rate hiking campaign.
“Bulls are running with the near-term momentum, the ‘soft landing’ narrative, and it’s hard to argue with recent price action,” wrote Jonathan Krinsky, BTIG’s chief market technician in a note Monday. “On the other hand, long term trends are still somewhat bearish, and we are always skeptical of such a widely watched ‘breakout’, especially after big run.”
Markets have priced in a nearly 100% chance of a 25-basis point hike, according to CME Group data, which would bring the interest rate to a targeted range of 4.5%-4.75%.
Earnings reports could keep the market on edge, with about 40% of the Dow scheduled to release their latest financial results and offer more insight into how companies are weathering inflation and interest rates. Some big names on deck include Microsoft, IBM, Tesla, Visa and Mastercard.
Dow Jones Futures: Netflix Jumps On Subscribers, Google Slashing 12,000 Jobs After Market Rally Breaks Key Levels
Dow Jones futures edged higher early Friday, while S&P 500 futures rose modestly and Nasdaq futures climbed solidly. Netflix (NFLX) jumped on strong subscriber growth, with energy giant SLB (SLB) on tap. Google parent Alphabet (GOOGL) will cut 12,000 jobs, as big tech layoffs continue.
X
The stock market rally retreated again Thursday for a second straight day, with the major indexes testing or undercutting further key levels. The Dow Jones turned negative for 2023.
Fresh economic reports pointed to weaker economic activity, with one big exception: Initial jobless claims matched their lowest level since last April. The overall picture points to rising recession risks, but tight labor markets keeping the Federal Reserve hawkish.
Leading stocks are retreating to various degrees. Investors should wait to see if this pullback is temporary or something more serious.
MELI stock, Medpace Holdings (MEDP), Axon Enterprise (AXON), Vertex Pharmaceuticals (VRTX) and Exxon Mobil (XOM) are names that are holding up relatively well, so far.
MEDP stock and Axon Enterprise are on IBD Leaderboard. MercadoLibre and XOM stock are on the IBD 50. VRTX and SLB stock are on the IBD Big Cap 20. GOOGL stock is on the IBD Long-Term Leaders list.
MercadoLibre (MELI) was Thursday’s IBD Stock Of The Day. VRTX stock was Wednesday’s.
Dow Jones Futures Today
Dow Jones futures rose slightly vs. fair value. S&P 500 futures rose 0.3%. Nasdaq 100 futures climbed 0.8%. NFLX stock and Google are providing a boost to Nasdaq futures.
The 10-year Treasury yield rose 3 basis points to 3.43%.
Remember that overnight action in Dow futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.
Netflix Subscriber Growth Strong
Netflix earnings fell well short of Q4 views, while 2% revenue growth was in line. But Netflix subscribers swelled by 7.66 million, far more than 4.57 million expected. The streaming giant launched a lower-priced, ad-supported subscription option on Nov. 3. Netflix no longer provides subscriber guidance.
Meanwhile, Co-founder Reed Hastings stepped down as co-CEO to become executive chairman. Ted Sarandos will remain co-CEO, joined by Greg Peters, currently chief operating officer.
NFLX stock jumped in premarket trade. Shares fell 3.2% to 315.78 in Thursday’s regular session.
The Netflix subscriber growth is a positive sign for many other streaming plays, including Walt Disney (DIS), Paramount Global (PARA), Warner Bros Discovery (WBD) and Roku (ROKU). But DIS stock, Roku and the others had slim gains in extended action.
Google Job Cuts
Google parent Alphabet will lay off 12,000 workers, or 6% of staff. That’s according to a company memo. That follows Microsoft plans to cut 10,000 positions, or 4.5% of staff, earlier this week, with Amazon.com (AMZN), Salesforce.com (CRM) and many other tech giants reducing staff.
Late Thursday, Google said it would defer 20% of bonus payments to at least March.
GOOGL stock climbed solidly in premarket trade.
Google stock rose 2.1% to 93.05 on Thursday, moving above the 50-day line for the first time since early December. The 50-day line has been a resistance area for the internet giant since late 2021. Still, GOOGL stock remains a long way from its 200-day line.
Eli Lilly Falls On FDA Alzheimer’s Rejection
The FDA rejected Eli Lilly’s accelerated approval submission of its Alzheimer’s treatment donanemab, seeking more data. Eli Lilly (LLY) fell modestly overnight. Biogen (BIIB), which recently released positive results on a similar Alzheimer’s drug, rose slightly before the opeb.
SLB Earnings Top
SLB earnings and revenue modestly topped quarterly views. SLB, formerly known as Schlumberger, said in the release that “we believe the macro backdrop and market fundamentals that underpin a strong multi-year upcycle for energy remain very compelling.” Oil&Gas-Field Services is rated No. 1 out of IBD’s 197 industry groups.
SLB stock climbed 2% early Thursday. Shares edged up 0.4% to 57.38 on Thursday, after coming down to the top of a recent base. But SLB iss slightly extended from a 53.97 handle buy point.
Join IBD experts as they analyze actionable stocks in the stock market rally on IBD Live
Stock Market Rally
The stock market rally extended Wednesday’s losses on Thursday morning, rebounding somewhat in the afternoon but fading again into the close.
The Dow Jones Industrial Average fell 0.8%. in Thursday’s stock market trading, along with the S&P 500 index. The Nasdaq composite sank nearly 1%. The small-cap Russell 2000 declined 1%.
Solar stocks were big losers amid growing concerns about the residential solar market.
U.S. crude oil prices rose 1.1% to $80.33 a barrel, continuing to trade right around the $80 level. Gasoline futures climbed 2.9% to a two-month closing high.
The 10-year Treasury yield edged up 3 basis points to 3.4%.
ETFs
Among growth ETFs, the Innovator IBD 50 ETF (FFTY) tumbled nearly 2%, while the Innovator IBD Breakout Opportunities ETF (BOUT) sank 1.2%. The iShares Expanded Tech-Software Sector ETF (IGV) gave up 0.8%. The VanEck Vectors Semiconductor ETF (SMH) shed 2.45%.
Reflecting more-speculative story stocks, ARK Innovation ETF (ARKK) skidded 3.2% and ARK Genomics ETF (ARKG) lost 3.3%.
SPDR S&P Metals & Mining ETF (XME) dipped 0.2%, along with U.S. Global Jets ETF (JETS). SPDR S&P Homebuilders ETF (XHB) sold off 3%. The Energy Select SPDR ETF (XLE) advanced 1.2%, with XOM stock the No. 1 holding and SLB also a major component. The Financial Select SPDR ETF (XLF) slid 1.2%. The Health Care Select Sector SPDR Fund (XLV) edged up 0.2%.
Five Best Chinese Stocks To Watch Now
Stocks To Watch
MELI stock edged up 0.4% to 1,072.74, pausing this week after a big run to start 2023. The Latin American e-commerce and payments giant is just below a 1,095.44 buy point, but really needs a handle to let the major averages catch up. MercadoLibre stock has held up very well but use some depth on any handle to shake out weak holders.
MEDP stock fell 1.5% to 228.84, near an official 235 buy point, according to MarketSmith analysis. Shares blasted above the 50-day line on Jan. 10, which offered an early entry. Now, Medpace stock could use a handle.
XOM stock tested its 50-day line but closed up 0.6% to 111.32. Shares are not far from a 114.76 buy point from a flat base.
VRTX stock edged down 0.6% to 307.94, still holding above its 50-day line. Shares popped above the 50-day line on Tuesday, offering an early entry at the time. Investors should wait to see if the biotech can move past Tuesday’s high of 312.35. The official flat-base buy point is 324.85.
AXON stock climbed 1% to 184.06, continuing to work on a handle on a cup base that would slightly lower the buy point from the current 193.95. Axon, which makes Tasers, body cameras and digital storage for law enforcement, cleared an early entry Jan. 9 as it moved above the 50-day line.
Market Rally Analysis
After Wednesday’s sharp downside reversal, the stock market rally showed further weakness. While the major indexes rebounded from their late morning lows, they faded into the close.
The S&P 500 index, after falling back below its 200-day line in the prior session, broke below its 50-day on Thursday. The Nasdaq also undercut its 50-day line, but bounced from its 21-day line. The Russell 2000, which nearly hit its late 2022 highs Wednesday morning, tested its 200-day on Thursday, but closed above that line.
The Dow Jones had its third straight significant decline, testing the low of the Jan. 6 follow-through day. Closing below the low of the FTD would be a bearish sign for a market rally, though the S&P 500 and Nasdaq are well above their Jan. 6 lows for now.
The indexes closing off lows offers hope that the current pullback is just a healthy pause, letting leading stocks forge handles and other new buying opportunities. But this could be more serious. Breaking below Thursday’s lows would be worrisome.
Some leading stocks, such as Axon, MercadoLibre and MEDP stock are holding up quite well. But others are suffering bigger losses. Deere (DE), which flashed an early entry Tuesday morning, undercut the low of its flat base on Thursday.
Time The Market With IBD’s ETF Market Strategy
What To Do Now
With the market rally retreating, many leading stocks are paring recent gains or even skidding below entries.
Investors should hold off on new buys for now. If anything, they want to cut modest exposure, if only because of the action in individual holdings.
Despite some recent losses, a large number of stocks have been setting up. One or two good days could significantly improve the market rally’s technical picture and offer many new buying opportunities. So have your watchlists ready.
But just because a stock is setting up doesn’t mean it will break out or flash a buy signal, or that any such move will work.
Earnings season looks like it’s going to hit the market with individual stocks and the overall uptrend at a tenuous time. Tread carefully.
Read The Big Picture every day to stay in sync with the market direction and leading stocks and sectors.
Please follow Ed Carson on Twitter at @IBD_ECarson for stock market updates and more.
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