- Anti-immigration populist party rebounds in Switzerland with 9-seat gain; progressives lose ground Fox News
- Switzerland: Right-wing populists strengthen hold after federal elections – 2023 euronews
- Switzerland’s populists promise ‘less political correctness’ after election win The Guardian
- A Swiss populist party rebounds and the Greens sink in the election. That’s a big change from 2019 The Associated Press
- Swiss anti-immigration party rebounds to become largest parliamentary faction FRANCE 24 English
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Tag Archives: Rebounds
Giannis Antetokounmpo rebounds his own intentionally missed shot to notch triple-double – Yahoo Sports
- Giannis Antetokounmpo rebounds his own intentionally missed shot to notch triple-double Yahoo Sports
- Bucks’ Giannis Antetokounmpo intentionally misses shot to grab extra rebound for triple-double Fox News
- Giannis Antetokounmpo purposefully misses shot to give himself triple-double New York Post
- Bucks’ Giannis Antetokounmpo admits to pulling a Ricky Davis to record triple-double: ‘Kind of stole one’ CBS Sports
- Watch Giannis Antetokounmpo brick meaningless layup to get 10th rebound, triple-double Yahoo Sports
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Giannis Antetokounmpo rebounds his own intentionally missed shot to notch triple-double – Yahoo Sports
- Giannis Antetokounmpo rebounds his own intentionally missed shot to notch triple-double Yahoo Sports
- Bucks’ Giannis Antetokounmpo intentionally misses shot to grab extra rebound for triple-double Fox News
- Giannis Antetokounmpo triple-double controversy: Bucks star shows shades of Ricky Davis with intentional miss msnNOW
- Bucks’ Giannis Antetokounmpo admits to pulling a Ricky Davis to record triple-double: ‘Kind of stole one’ CBS Sports
- Bucks: Damian Lillard reacts to Giannis stat-padding for triple-double ClutchPoints
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Shiba Inu price rebounds 100% after record lows against Dogecoin — more upside ahead? – Cointelegraph
- Shiba Inu price rebounds 100% after record lows against Dogecoin — more upside ahead? Cointelegraph
- If You Had $1000 Right Now, Would You Buy Shiba Inu, Dogecoin, Ethereum Classic Or Bitcoin Cash? Benzinga
- Largest Cryptocurrency Presale In The Last 2 Years: How Big Eyes Coin Can Catch Up With Dogecoin And Shiba Inu Analytics Insight
- Dogecoin (DOGE) Trading Volume Spikes on Elon Musk’s Recent “420 Tesla” News U.Today
- Over 60% of Dogecoin Holders in Profit While Majority of Shiba Inu Investors Sitting on Losses: IntoTheBlock The Daily Hodl
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Shiba Inu price rebounds 100% after record lows against Dogecoin — more upside ahead? – Cointelegraph
- Shiba Inu price rebounds 100% after record lows against Dogecoin — more upside ahead? Cointelegraph
- If You Had $1000 Right Now, Would You Buy Shiba Inu, Dogecoin, Ethereum Classic Or Bitcoin Cash? Benzinga
- Largest Cryptocurrency Presale In The Last 2 Years: How Big Eyes Coin Can Catch Up With Dogecoin And Shiba Inu Analytics Insight
- Dogecoin (DOGE) Trading Volume Spikes on Elon Musk’s Recent “420 Tesla” News U.Today
- Dogecoin (DOGE) Price Claims Support While Shiba Inu (SHIB) Price Struggles to Overcome Resistance BeInCrypto
- View Full Coverage on Google News
Why The Market Rally Could Use A Holiday; Tesla Rebounds, 5 Stocks Near Buy Points
Dow Jones futures rose slightly overnight, along with S&P 500 futures and Nasdaq futures, heading into the Thanksgiving Day holiday.
X
The stock market rally was positive for a second straight session. Fed officials see slower rate hikes coming “soon,” according to Fed minutes from the November meeting released Wednesday afternoon.
The Nasdaq led, buoyed by a rebounding Tesla (TSLA). The major indexes are all up solidly so far in this holiday-shortened week. But a longer holiday for the market rally could be constructive.
Investors should be cautious about adding exposure given key technical resistance and notable economic reports up ahead.
However, Dexcom (DXCM), UnitedHealth (UNH), Neurocrine Biosciences (NBIX), Medpace Holdings (MEDP) and Shockwave Medical (SWAV) are five health care stocks showing interesting action.
DXCM stock and Neurocrine Biosciences are on IBD Leaderboard, with MEDP stock on the Leaderboard watchlist. NBIX stock and Medpace are on the IBD 50.
Dow Jones Futures Today
Dow Jones futures rose 0.15% vs. fair value. S&P 500 futures advanced 0.15% and Nasdaq 100 futures climbed 0.2%.
U.S. stock exchanges will be closed Thursday for the Thanksgiving Day holiday. On Friday, U.S. exchanges will close early at 1 p.m. ET. But other exchanges around the world will be open normally on Thursday and Friday.
Remember that overnight action in Dow futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.
Join IBD experts as they analyze actionable stocks in the stock market rally on IBD Live
Stock Market Rally
The stock market rally had some wobbles Wednesday, but extended gains, led by techs.
Initial jobless claims rose to a three-month high while continuing claims hit an eight-month best. S&P Global’s purchasing managers indexes for U.S. manufacturing and services both signaled contraction.
The Fed minutes reinforced expectations of a 50-basis point rate hike at the Dec. 14 meeting. Markets still favor another half-point move in February, but there’s a decent chance of a quarter-point hike.
The Dow Jones Industrial Average rose 0.3% in Wednesday’s stock market trading. The S&P 500 index climbed 0.6%, led by TSLA stock. The Nasdaq composite popped 1%. The small-cap Russell 2000 edged up 0.1%.
U.S. crude oil prices tumbled 3.7% to $77.94 a barrel. Natural gas futures jumped 7.2%.
The 10-year Treasury yield sank 5 basis points to 3.71%. The two-year Treasury yield, more closely tied to the Fed rate hike outlook, dipped below 4.5%.
The U.S. dollar fell significantly for a second straight session, back near recent lows.
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ETFs
The iShares Expanded Tech-Software Sector ETF (IGV) climbed 1.5%. The VanEck Vectors Semiconductor ETF (SMH) gained 0.9%.
SPDR S&P Metals & Mining ETF (XME) edged up 0.3%. U.S. Global Jets ETF (JETS) nudged 0.1% higher. SPDR S&P Homebuilders ETF (XHB) climbed 0.5%. The Energy Select SPDR ETF (XLE) fell 1.1%. The Health Care Select Sector SPDR Fund (XLV) rose 0.4%. Dow Jones giant UNH stock is the top holding in XLV.
Reflecting more-speculative story stocks, ARK Innovation ETF (ARKK) popped 2.9% and ARK Genomics ETF (ARKG) 0.9%. TSLA stock is a major holding across Ark Invest’s ETFs
Tesla stock jumped 7.8% to 183.20 on Wednesday, rebounding from Tuesday’s bear market lows as Citigroup upgraded the EV giant from a sell to a hold. TSLA stock is still down 19.5% so far this month and has roughly halved in 2022.
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Stocks To Watch
Dexcom stock advanced 1.7% to 112.92, finding support at the 21-day moving average. DXCM stock has been pausing this month after gapping up on earnings on Oct. 28. Dexcom stock arguably has a long handle with a 123.46 buy point from a seven-month consolidation. Investors could buy DXCM stock from an early entry off the 21-day line, perhaps using Tuesday’s high of 113.88 as a specific buy point.
Medpace stock fell 1.3% to 218.81 on Wednesday. Shares have been consolidating near record highs since skyrocketing 38% on Oct. 25 following earnings. Since then, MEDP stock has been forging a messy handle on a deep, yearlong cup base. While shares have had some big intraday swings, MEDP stock is currently on track to forge a three-weeks-tight pattern by Friday’s close. Investors might use the Nov. 15 close of 226.57 as an early entry, above the bulk of recent trading.
NBIX stock sank 1.5% to 118.97. Shares are consolidating near multiyear highs, extended from an October breakout. Despite a plunge to the 50-day line last week, Neurocrine stock has a three-weeks-tight pattern that’s on track to go for a fourth week. Technically, that has a 126.09 buy point, though investors may want to wait for some quieter action.
Shockwave stock popped 4.7% to 264.06 on Wednesday, back above its 21-day line but hitting resistance at the 50-day line. After a failed breakout in late October and sharp sell-off that continued through earnings, SWAV stock has bounced back over the past week. A new base will take more time, but aggressive investors could use a strong move above the 50-day as an early entry.
UNH stock climbed 1.3% to 529.71, rebounding above its 50-day and 21-day lines after briefly undercutting its 200-day line last week. UnitedHealth stock used to be an IBD Long-Term Leader and still shares many characteristics. Investors could use a bounce from the 50-day line as either an early entry or a Long-Term Leader entry. UNH stock needs to forge a new base after a breakout from a cup-with-handle base quickly failed last month.
Tesla Vs. BYD: Which EV Giant Is The Better Buy?
Market Rally Analysis
The stock market rally added to Tuesday’s gains. The S&P 500 just topped its Nov. 15 intraday high and closed within 1% of its 200-day line.
The Russell 2000 came right up to its 200-day line.
The Nasdaq added to Tuesday’s rebound from the 21-day moving average, though it’s still below its Nov. 15 short-term high and well below its 200-day.
The Dow Jones came within 20 points of its Aug. 16 intraday high.
The S&P 500 moving decisively above its 200-day line — which coincides roughly with a yearlong declining-tops trendline — is a huge test for the market rally.
A slew of economic data could swing Fed rate expectations and thus the stock market. On Wednesday, Nov. 30, the October JOLTS report will show job openings, with Fed chief Jerome Powell speaking later in the day. On Thursday, the PCE price index, the Fed’s favorite inflation gauge, will be released, along with jobless claims and the ISM manufacturing index. The November jobs report is due on Friday, Nov. 2.
Ideally, the market would move sideways for a few days, letting at least the 21-day line catch up, heading into those economic reports.
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What To Do Now
The market rally has shown some nice gains this week, with more stocks flashing buy signals in the past few days. Investors could have added a little more exposure as a result.
But they may want to be cautious about making significant new buys with the S&P 500 hovering below its 200-day line and so much Fed-critical economic due next week.
Also consider taking some partial profits in stocks that run up quickly. Stocks have been making short-lived advances amid a choppy uptrend and sector rotation.
Still, investors should be working hard on their investing shopping lists, looking for set ups and actionable names across a variety of sectors.
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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Tesla Rebounds as Morgan Stanley Says Selloff Gone Too Far
(Bloomberg) — After losing nearly $300 billion in market value in two months, a growing chorus of Tesla Inc. analysts say the share-price decline has gone far enough, pushing the stock higher on Wednesday.
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Morgan Stanley analyst Adam Jonas earlier said that Tesla is approaching his “bear case” price target of $150, presenting an opportunity for investors to buy at a bargain price. Citi analysts upgraded the shares to neutral from sell, saying that a more than 50% slump this year “has balanced out the near-term risk/reward.”
Despite challenges including decelerating demand and price cuts in China, Tesla is the only electric vehicle maker covered by Morgan Stanley that generates a profit on the sale of its cars, Jonas wrote in a note. The analyst — who also highlighted Tesla’s potential to benefit from consumer tax credits in the US — reiterated his $330 price target.
Shares closed up 7.8% at $183.20 in New York. The stock has slumped this year amid rising raw materials costs, issues with production and sales in China and pressure on customer budgets. Latterly, Chief Executive Officer Elon Musk’s focus on turning around Twitter Inc. has also hit sentiment, with $300 billion wiped off Tesla’s market cap in the past two months, according to Bloomberg calculations.
The distraction caused by Twitter needs to end to stop the stock slide, according to Jonas. “There must be some form of sentiment ‘circuit breaker’ around the Twitter situation to calm investor concerns around Tesla,” he wrote.
Despite all of the challenges Tesla has faced this year, Wall Street has mainly stayed bullish. The majority of Tesla analysts tracked by Bloomberg rate the stock a buy or equivalent, while the shares would need to rally a whopping 57% to hit the average analyst target price. This year’s slump has left the stock trading at 31 times forward earnings, down from more than 200 times in early 2021.
Citi analyst Itay Michaeli, who upgraded the stock on Wednesday, has one of the lowest price targets on the Street, at $176. The analyst said he was turning more positive because Tesla’s slump means that some of the overly-bullish expectations in the stock, including on unit sales, have now been priced out.
–With assistance from James Cone, Esha Dey and Boris Korby.
(Updates stock move in fourth paragraph. A previous version of this story corrected Citi’s rating in second paragraph.)
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US GDP rebounds 2.6% in the third quarter
The US economy rebounded in the third quarter after contracting for the first six months of this year, as a narrowing trade deficit concealed weakening consumer demand.
Gross domestic product increased by 2.6 per cent on an annualised basis between July and September, surpassing economists’ expectations and marking a sharp reversal from the 0.6 per cent drop in the second quarter of 2022 and the 1.6 per cent decline registered in the first three months of the year.
The expansion in the third quarter was propelled by a narrowing of the trade deficit, as ebbing consumer demand damped imports while exports rose. That comes despite a widening of the deficit for goods in September as the strong US dollar weighed on exports. Consumer spending advanced just 1.4 per cent, far slower than the previous period, in a sign that the economy is beginning to slow.
The data, released by the Department of Commerce on Thursday, effectively ends a debate that raged over the summer as to whether the US economy was already in a recession, but it did little to dispel fears that it will eventually tip into one given the aggressive steps the US central bank is taking to stamp out elevated inflation.
Two consecutive quarters of shrinking GDP has long been considered a common criteria for a so-called “technical recession”. However, top policymakers in the Biden administration and at the Federal Reserve pushed back forcefully on that framing, citing ample evidence that the economy was still on firm footing.
The official arbiters of a recession, a group of economists at the National Bureau of Economic Research, characterises one as a “significant decline in economic activity that is spread across the economy and lasts more than a few months”. They typically look at a wide range of metrics including monthly jobs growth, consumer spending on goods and services, and industrial production.
The Fed is poised early next month to deliver its fourth consecutive 0.75 percentage point interest rate increase, which will lift its benchmark policy rate to a new target range of 3.75 per cent to 4 per cent. As recently as March, the federal funds rate hovered near zero, making this tightening campaign one of the most aggressive in the US central bank’s history.
While the Fed may soon consider slowing the pace of its rate rises, potentially as soon as December, it is not expected to pivot altogether away from tight monetary policy.
As of last month, most officials thought the fed funds rate would peak at 4.6 per cent, but now investors expect it to close in on 5 per cent next year.
Given how large an impact the Fed’s actions are expected to have on growth and the labour market, most economists now expect the unemployment rate to rise materially from its current level of 3.5 per cent and for the economy to tip into a recession next year.
Top officials in the Biden administration maintain that the US economy is strong enough to avoid that outcome, citing the resilience of the labour market, but even Jay Powell, the Fed chair, has acknowledged the odds have risen.
“No one knows whether this process will lead to a recession or if so, how significant that recession would be,” he said at his last press conference in September.
Hang Seng rebounds slightly; Australia inflation hits 32-year high
Shoppers walking around Pitt Street Mall on June 07, 2022 in Sydney, Australia.
Brendon Thorne | Getty Images News | Getty Images
Shares in the Asia-Pacific rose Wednesday as sentiment overnight improved over the Fed potentially turning less aggressive.
Hong Kong’s Hang Seng index was up 1% at 15,317.67 after three consecutive negative sessions. The Hang Seng Tech index gained 2.48%.
In mainland China, the Shanghai Composite added 0.78% to 2,999.50 and the Shenzhen Component gained 1.678% to 10,818.33 – the China Securities Regulatory Commission on Tuesday said it intends to expedite the development of a “regulated, transparent open, lively and resilient” market.
Australia’s annual consumer price index reached the highest since December 1990. The S&P/ASX 200 rose 0.18% to 6,810.90. The Australian dollar last stood at $0.6468.
The Nikkei 225 in Japan rose 0.67% to 27,431.84, and the Topix gained 0.58% to 1,918.21. South Korea’s Kospi gained 0.65% to 2,249.56 — MSCI’s broadest index of Asia-Pacific shares outside Japan ticked 0.92% higher.
India’s market is closed for a holiday. In commodity markets, oil prices dropped more than 1% then pared some losses as data showed U.S. crude inventories rose more than expected last week. Brent crude futures lost 0.9% to $92.68 per barrel, while U.S. crude futures shed 0.66% to $84.76 per barrel.
Overnight in the U.S., major indexes rose for a third straight session as bond yields slid. The Dow Jones Industrial Average closed 337.12 points higher, or about 1.1%, to end at 31,836.74. The S&P 500 advanced 1.6%, closing at 3,859.11. The Nasdaq Composite popped 2.2%, landing at 11,199.12.
“Markets rebounded overnight driven by better earnings reports and speculation that the monetary policy tightening cycle may be nearing its end,” analysts wrote in an ANZ Research note, adding that falling consumer confidence and house prices indicate that tightening policies may be starting to reduce demand.
Hang Seng rebounds 2%; Australia inflation hits highest in 32 years
Shoppers walking around Pitt Street Mall on June 07, 2022 in Sydney, Australia.
Brendon Thorne | Getty Images News | Getty Images
Shares in the Asia-Pacific rose Wednesday as sentiment overnight improved over the Fed potentially turning less aggressive.
Hong Kong’s Hang Seng index seesawed at the open before rising 2%, after three consecutive negative sessions. The Hang Seng Tech index was up more than 3%. In mainland China, the Shanghai Composite added around 1% and the Shenzhen Component gained 1.661%.
Australia’s annual consumer price index reached the highest since December 1990. The S&P/ASX 200 rose 0.25% ahead of the report before giving up some gains to trade 0.2% higher. The Australian dollar last stood at $0.6388.
The Nikkei 225 in Japan rose 1.17%, and the Topix gained 0.93%. South Korea’s Kospi gained 0.94% and the Kosdaq was 0.15% higher. MSCI’s broadest index of Asia-Pacific shares outside Japan ticked 0.94% higher.
India’s market is closed for a holiday. In corporate news, Standard Chartered, Ping An, and SK Hynix are among the companies slated to report earnings Wednesday.
Overnight in the U.S., major indexes rose for a third straight session as bond yields slid. The Dow Jones Industrial Average closed 337.12 points higher, or about 1.1%, to end at 31,836.74. The S&P 500 advanced 1.6%, closing at 3,859.11. The Nasdaq Composite popped 2.2%, landing at 11,199.12.
“Markets rebounded overnight driven by better earnings reports and speculation that the monetary policy tightening cycle may be nearing its end,” analysts wrote in an ANZ Research note, adding that falling consumer confidence and house prices indicate that tightening policies may be starting to reduce demand.