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Business

U.S.-listed China stocks are volatile but analysts urge caution

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The Baidu Inc. logo is displayed on the company’s headquarters on July 3, 2019 in Beijing, China.

Wan Xiaojun | Visual China Group via Getty Images

Some analysts remain pessimistic on U.S.-listed Chinese stocks, warning the road ahead remains uncertain despite signs that they’re at less risk of being delisted from U.S. exchanges.

“Global investors may be jumping the gun a little bit. Everything is very, very premature right now,” said Shehzad Qazi, managing director of China Beige Book International.

March was a volatile month for Chinese stocks, which dived then surged as Beijing signaled more support for its firms listed overseas.

The MSCI China index spiked almost 24% for the month, turning around from a 25% tumble in the first half. This index tracks all Chinese stocks, including those listed in Hong Kong, the mainland and the U.S. Its top constituents are mostly tech stocks. CNBC’s China ADR index, which tracks U.S.-listed Chinese stocks, has jumped about 25% between mid March and April 1.

“I get the sense that a lot of investors right now are very happy with the progress but not really focusing on the fact that there’s a lot of uncertainty out there, a lot of unknowns,” Qazi told CNBC’s “Squawk Box Asia” Monday.

Harvey Pitt, who was chairman of the U.S. Securities and Exchange Commission from 2001 to 2003, added: “This is clearly an effort by the Chinese government to create an appearance that there will be more transparency. The real devil will be in the details.”

“The only question will be: are people who are investing now in Chinese companies doing so with their eyes wide open?” asked Pitt, who is now the CEO of consulting firm Kalorama Partners.

Earlier in March, shares of Chinese companies came under pressure when the U.S. Securities and Exchange Commission started identifying Chinese companies that could be delisted if they didn’t comply with audit requirements. Those included tech giant Baidu, biopharmaceutical firm BeiGene and fast food restaurant business Yum China.

On Friday, New York-listed Chinese stocks jumped further after a report that China is considering granting U.S. authorities full access to company audits. This would allow those companies to continue trading publicly in the U.S. The China Securities Regulatory Commission told CNBC that it told some accounting firms to consider preparing for joint inspections.

Over the weekend, Beijing also proposed revising confidentiality rules involving offshore listings, removing a legal hurdle to cooperation between both countries on audits, Reuters reported.

Qazi said: “Yes, there have been recent rule changes in China and they seem to suggest a positive step forward. But the truth is, at the end of the day, we don’t know the specifics of which companies will the SEC be able to audit according to U.S. rules and regulations.”

“So if the biggest players … Baidu, Alibaba, Tencent — are these companies going to open up their books to U.S. regulators for audits? Because if they don’t, you’re taking off a bunch of market capitalization,” he added.

Too early to call it a ‘dragon market run’

Other analysts also urged investors to stay cautious.

“Concrete policy action to stabilize China’s property market will likely be required to sustain this market rally. China’s zero-COVID policy and activity restrictions will also weigh on consumption and sentiment in the near-term, while its relationship with Russia means the threat of U.S. sanctions will hang over markets,” Seema Shah, chief strategist at Principal Global Investors, said in a note last week.

The property debt crisis has loomed over China’s economy. The Hong Kong exchange recently suspended trading in over 30 stocks that failed to report earnings on time, including Chinese developers Sunac China, Shimao and Kaisa.

Read more about China from CNBC Pro

“Although China may be resuming a market-friendly stance, it is still too early to call this a new dragon market run,” said Shah.

Kieran Tompkins of research firm Capital Economics added that the near-term outlook for growth continues to deteriorate, with high oil prices, renewed lockdowns and other factors threatening earnings growth.

“What’s more, even if domestic policymaking does become less of a concern for investors, the war in Ukraine and China’s alliance with Russia have ignited fears that the invasion will accelerate the process of decoupling of the country’s financial system with the US,” the assistant economist said in an April 1 note.

“As such, we suspect that China’s stock market will remain under pressure, even though its valuation relative to other MSCI equity indices is relatively low,” he added.

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Business

Stocks, oil volatile, marijuana stocks soar on bill: LIVE UPDATES

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Home sales see broad nationwide drop

Pending home sales declined in February for the fourth month in a row, as would-be buyers grapple with fewer, pricier homes to choose from and rising interest rates.

Contract signings dropped by 4.1% last month from January and were down 5.4% year over year with all four regions in the U.S. seeing a decline, according to the latest data from the National Association of Realtors.

Bed Bath & Beyond bows to shareholder pressure

Symbol Price Change %Change
BBBY $22.10 +0.08 +0.36%

Chewy Founder Ryan Cohen, who also heads GameStop and RC Ventures, forced the hand of the home retailer after calling out CEO Mark Tritton for poor leadership and an underperforming stock. His firm owns 9.8% of company shares.

Bed Bath & Beyond Inc. Announces Cooperation Agreement with Ryan Cohen Appoints Three New Independent Directors to the Board with Finance and Strategy Experience

Announces a Four-Member Committee of the Board Focused on Exploring Alternatives to Unlock Greater Value from buybuy BABY

Biden Plans Saturday Address on Russia, Ukraine

“He will give a major address tomorrow that will speak to the stakes of this moment. The urgency of the challenge that lies ahead, what the conflict in Ukraine means for the world and why it is so important that the free world sustain unity and resolve in the face of Russian aggression. He’ll also talk about the context and history of this conflict and where he sees it going from here” said National Security Advisor Jake Sullivan.

Yields Climb to Near Three Year Highs

Symbol Price Change %Change
TLT $130.47 -1.03 -0.78%
IEF $107.18 -0.60 -0.56%
GOVT $24.73 -0.17 -0.70%

10-Yr Treasury Yield Tops 2.5%

2-Yr Treasury Yield Above 2.3%

Highest Since May 2019

Breaking News

Stocks reverse gains, oil cuts losses

Symbol Price Change %Change
I:DJI $34,668.37 -39.57 -0.11%
SP500 $4,507.18 -12.98 -0.29%
I:COMP $14,030.18 -161.66 -1.14%
USO $79.75 -2.20 -2.68%
BNO $32.62 -0.86 -2.57%

US-EU use nat gas as tool to cripple Putin

Symbol Price Change %Change
UNG $18.97 +0.94 +5.21%

Breaking News

Stocks inch towards weekly wins

Symbol Price Change %Change
I:DJI $34,772.63 +64.69 +0.19%
SP500 $4,523.10 +2.94 +0.07%
I:COMP $14,162.66 -29.18 -0.21%

Pulitzer Prize Winner Yergin: Shale key for US economy

Bitcoin’s upward momentum continues

Marijuana stocks jump on bill passage

Symbol Price Change %Change
TLRY $6.97 +1.25 +21.85%
SNDL $0.75 +0.14 +23.10%
CRON $3.99 +0.32 +8.72%
ACB $4.04 +0.40 +10.99%

Senators Dianne Feinstein (D-Calif.), Chuck Grassley (R-Iowa) and Brian Schatz (D-Hawaii) today applauded Senate passage of their legislation to expand scientific and medical research on marijuana and its compounds, including cannabidiol.

“Current rules and regulations make it hard for researchers to study how marijuana and marijuana-derived medications can best be used to treat various conditions,” said Senator Feinstein. “This important legislation will cut the red tape around the research process, helping get FDA-approved, marijuana-derived medications safely to patients.”

Futures at a glance

U.S. equity futures traded slightly higher after a previous day of gains on Wall Street.

Meanwhile, U.S. West Texas Intermediate (WTI) crude futures fell $1.69 to $110.65 a barrel, having dropped 2.3% in the previous session. Brent futures fell $1.17 to $117.87 a barrel, after sliding 2.1% on Thursday.

Additionally, the University of Michigan’s final index of consumer sentiment for March and the National Association of Realtors’ index of pending home sales for February will be released Friday.

Stock futures trade cautiously to end the week

U.S. equity futures traded modestly lower after Western governments promised new sanctions on Russia. Continue reading

Oil prices trade lower as US-EU reach LNG deal

Oil prices traded
lower on Friday morning as the European Union and United States unveiled a deal to supply Europe with more U.S. liquefied natural gas. Continue reading

Gas prices edge up

The average price for a gallon of gasoline in the U.S. edged up slightly on Friday to $4.243, according to the latest numbers from AAA. The price on Thursday was $4.236. 

The previous record high was $4.33, set on Friday March 11, 2022. 

Bitcoin price trades around $44,000

Bitcoin was around $44,000 after trading higher in two of the last three days heading into Friday. The cryptocurrency is trading up more than 5% month-to-date, but down more than 5% year-to-date. Continue reading



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Business

Rouble hits record low in Moscow, remains volatile outside Russia

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Russian Rouble coins are seen in front of displayed U.S. Dollar banknote in this illustration taken, February 24, 2022. REUTERS/Dado Ruvic/Illustration/Files

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NEW YORK, March 2 (Reuters) – The rouble touched a record low of 110 to the dollar in Moscow on Wednesday and crawled back near 100 in other trading platforms, though it continued under pressure as Russia’s financial system teetered under the weight of Western sanctions imposed over the invasion of Ukraine.

The Russian stock market remained closed and trading on bonds showed wide bid-ask spreads and little-to-no volume.

The rouble fell 4.5% to 106.02 against the dollar in Moscow trade , earlier hitting 110.0, a record low. It has lost 30% of its value against the dollar since the start of the year. Against the euro , it shed 2.5% on Wednesday to finish the day at 115.40.

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But trading outside of Russia , saw the currency rebound to end the day up 6% to 100 on the EBS platform and 7.6% at 97.6 elsewhere.

The currency is still over 20% weaker than where it traded at during the first half of February.

On the EBS platform, the rouble has this week had the three widest daily ranges since 2010, with Monday the widest range on record.

“Who gosh-darn knows what’s going to happen tomorrow,” said Colin Stewart, head of Americas at Quant Insight in New York.

“It’s just too volatile.”

Russia has responded to the currency weakness by more than doubling its benchmark interest rate to 20% and telling companies to convert 80% of their foreign currency revenues on the domestic market as the central bank, which is now under Western sanctions, has stopped foreign exchange interventions.

The weak rouble will hit living standards in Russia and fan already high inflation, while Western sanctions are expected to create shortages of essential goods and services such as cars or flights. read more

Many international companies have announced plans to exit Russia, while the country’s credit ratings are coming under pressure as a result of the crisis.

Credit rating agency Moody’s said it was reviewing Russia’s rating for a downgrade, a move that “reflects the negative credit implications for Russia’s credit profile from the additional and more severe sanctions being imposed.”

JPMorgan said about $4.2 billion in Russian debt is at risk of being kicked out of investment-grade bond indexes.

Meanwhile, Scope Ratings said capital controls “raise significant questions surrounding the Russian state’s willingness to service its debt owed to foreign residents” a day after cutting its Russia rating to junk status.

The measures, Scope added, make Russia “more vulnerable to banking and liquidity crises.”

In a separate note, JPMorgan said there was a deep recession in the making for Russia and the bank was reassessing its regional macro forecasts.

“The most recent measures targeting the CBR have completely changed the picture,” JPMorgan said.

“Russia’s large current account surplus could have accommodated large capital outflows, but with accompanying CBR and SWIFT sanctions, on top of the existing restrictions, it is likely that Russia’s export earnings will be disrupted, and capital outflows will likely be immediate.”

Several Russian banks have been barred from the SWIFT global financial network that facilitates transfers between banks.

As households and businesses in Russia have rushed to convert the falling rouble into foreign currency, banks raised rates for foreign currency deposits to attract those flows.

Russia’s largest lender Sberbank (SBER.MM) is offering to pay 4% on deposits of up to $1,000, while the largest private lender Alfa Bank is offering 8% on three-month dollar deposits. For rouble deposits, Sberbank offers a 20% annual return.

Sberbank said on Wednesday it was quitting almost all European markets, blaming big cash outflows and threats to its staff and property, after the ECB ordered the closure of its European arm. read more

The bank’s London-traded shares fell to 4.5 cents from $16 at the start of the year.

A U.S.-traded ETF of Russian companies and others heavily exposed to Russia fell 13% on Wednesday, for a 72% drop since mid-February.

Moscow calls its actions in Ukraine a “special operation” that it says is not designed to occupy territory but to destroy its neighbour’s military capabilities and capture what it regards as dangerous nationalists.

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Reporting by Reuters; Editing by Jane Merriman, Jonathan Oatis and Grant McCool

Our Standards: The Thomson Reuters Trust Principles.

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Business

Stock futures volatile, oil choppy, bitcoin bounce: LIVE UPDATES

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Developing Story

Dow futures hold 200+ point drop…

Symbol Price Change %Change
I:DJI $33,223.83 +92.07 +0.28%

Stock futures remained lower amid reports of Russian forces moving deeper into Ukraine.

Stock futures resume selling after wild rebound

U.S. equity futures traded lower Friday morning, following a day that saw a dramatic recovery toward the end of a wild trading day, as governments slapped sanctions on Russia for its invasion of Ukraine. Continue reading

Oil prices bounce on supply concerns following invasion of Ukraine

Oil prices bounced between gains and losses Friday morning as Russia’s invasion of Ukraine raised concerns about global supply.

Markets are bracing for what impact trade sanctions on Russia will have on price. Continue reading

Gold gets better as Russia, Ukraine and inflation dog stocks

Gold’s shine is becoming more attractive to investors looking to protect themselves against the unpredictable swings in the equity market sparked by Russia’s invasion of Ukraine. 

Gold closed at $1,925.10 Thursday, a new 52-week high, putting the SPDR’s Gold Exchange-Traded fund’s gain for the month at over 5%. It is the largest fund backed by physical gold with over $56 billion in assets. Continue reading

Bitcoin price claws back from plunge after Russia invaded Ukraine

Bitcoin’s price
 was around $38,000 Friday morning, clawing back from a plunge triggered by Russia’s invasion of Ukraine.

The drop in the cryptocurrency’s price bottomed out Thursday morning around $35,000. Continue reading

Russian attack on Ukraine could exacerbate already-high energy costs

Americans are already coping with the hottest inflation in four decades, and Russia’s full-scale attack on Ukraine could push it even higher.

The conflict roiled the global market Thursday, pushing oil prices
above $105 for the first time since 2014 and raising concerns of a prolonged inflation surge after Russia launched a broad offensive, hitting Ukrainian cities and bases with airstrikes and shelling.  Continue reading



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Entertainment

Brad Pitt intervened in ‘volatile’ on-set moment between Scott Eastwood, Shia LaBeouf

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NEWYou can now listen to Fox News articles!

Actors Scott Eastwood and Shia LaBeouf had a tense exchange on the set of David Ayer’s “Fury” that apparently led Brad Pitt to intervene.

Eastwood, in a recent interview, recalled the “volatile” moment during filming of the 2016 World War II movie..

“[LaBeouf] got mad at me, and it turned into a volatile moment that Brad Pitt ultimately got in the middle of,” Eastwood told Insider.

According to the outlet, the script called for Eastwood to spit on LaBeouf’s tank. In the film, LaBeouf is on a tank crew that’s led by Pitt’s character. Eastwood said LaBeouf wasn’t aware the script called for Eastwood to do this, leading him to view it as a sign of disrespect.

BRAD PITT SUES ANGELINA JOLIE FOR SELLING HER STAKE IN FRENCH ESTATE TO RUSSIAN OLIGARCH

Jon Bernthal, Logan Lerman, Brad Pitt, Shia LaBeouf and Michael Pena attend a photo call for “Fury” at the 58th London Film Festival at the Corinthia Hotel.
( Rune Hellestad/Corbis )

“I never think your process as an actor should ever hinder how people are treated on set,” Clint Eastwood’s son added.

The 35-year-old went on to say he prefers a set that’s stripped of any hostility.

“It should always enhance the production, not take away and put people in a situation where it’s a s—ty work environment, or you’re rude or people have to be in an uncomfortable situation,” he added.

In a 2014 interview with GQ, Eastwood described the incident in more detail. 

“I was in the middle of a scene with Brad Pitt, and I was chewing tobacco,” he said. “He didn’t like what I was doing, so he said I couldn’t be spitting tobacco on his tank, and he told me to clean it up. I pretty much told him to f— off, and Brad had to break it up.”

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Scott Eastwood attends the Los Angeles premiere of Amazon Prime’s “I Want You Back” at ROW DTLA Feb. 8, 2022, in Los Angeles. 
(Phillip Faraone/FilmMagic)

Pitt also recalled the incident at the time, admitting he too was mad at Eastwood. 

“We were driving down the road, I’m in the turret, Shia is at the other turret, and Scott is on the back spitting [chewing tobacco],” Pitt said. “And I’m starting to get pissed off, I’m starting to get hot, because this is our home, he’s disrespecting our home, you know? 

“So I said, in the scene with the cameras rolling, ‘You’re going to clean that s— up.’ Shia clocks it, and you have to understand, we’ve been through severe boot camp already, we’ve been through a lot in this tank. Shia saw it and felt the same — he’s disrespecting our home. So Shia had the same reaction I did and started having some words.”

It wasn’t until after the cameras stopped rolling that Pitt said he learned it was in the script. “‘He was just doing as instructed in the script. So we were the knobs in the end …,” Pitt said.

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The scuffle between Eastwood and LaBeouf wasn’t the only strained moment on set. Ayer made the stars of the tank crew live in the tank, and it proved to be an uncomfortable experience.

“It was,” Pitt recalled, “very intense.”

A rep for LaBeouf did not immediately return Fox News’ request for comment.

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Science

The True Source of Earth’s Water Could Be Wildly Different to What You Think

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Nothing on Earth can live without water. The origin of water on Earth, therefore, is the origin of life in the Solar System (and the Universe) as we know it.

Figuring out where and how our world obtained its water might be key to finding life on other worlds, but the truth is we don’t know for sure where it came from.

 

Nonetheless, it’s commonly accepted that one potential mechanism for water delivery was bombardment from water-bearing asteroids and comets when Earth as we know it today was much younger.

But a new analysis of rocks collected from the Moon and brought to Earth during the Apollo era suggests that this might not actually be the case.

Rather, according to a team of researchers at Lawrence Livermore National Laboratory, the likeliest explanation is that Earth formed with its water. In other words, it was here all along.

“Earth was either born with the water we have, or we were hit by something that was basically pure H2O, with not much else in it,” explains cosmochemist Greg Brennecka of LLNL.

“This work eliminates meteorites or asteroids as possible sources of water on Earth and points strongly toward the ‘born with it’ option.”

The Moon might seem a strange sort of place to look for Earth’s water. It’s dusty, dry, and extremely not wet at all.

As it turns out, though, the Moon is a great place to study Earth’s history. The Moon formed when two massive objects – one roughly the size of Mars, the other a little smaller than our own world – smacked together and reformed into blobs that would become Earth and its Moon.

 

Earth’s memory of this event has weathered over time, but because the Moon has no plate tectonics or weather, geological evidence doesn’t erode the same way.

That’s not to say that there are no processes at all up there. Impacts from other objects and previous volcanic activity can alter the lunar surface. There are, however, some samples in the Apollo collection that are relatively unchanged.

Now, according to the giant-impact hypothesis, that giant smash-up 4.5 billion years ago actually depleted Earth and the Moon of their volatiles.

That’s why, under that model, the Moon is so dry; and, compared to other objects in the Solar System that have water, the bulk of Earth is pretty dry too, especially once you take its size into account.

To understand the history of the Earth-Moon system prior to the giant impact, the team looked at three lunar samples that crystallized 4.3 to 4.35 billion years ago, examining two isotopes: volatile and radioactive isotope rubidium-87 (87Rb), and the isotope it decays into, strontium-87 (87Sr).

The latter especially is thought to be a good proxy for understanding the long-term volatile budget of the Moon, and relative abundances of moderately volatile elements, such as rubidium, reflect the behavior of more volatile species, like water.

 

Interestingly, the team’s analysis revealed that there was very little 87Sr in the Earth-Moon system, even prior to the giant impact. This suggests that both proto-Earth and the impactor, Theia, were strongly depleted in volatile elements, suggesting that volatile depletion was not a result of the giant impact after all.

This means that the different volatile distributions on Earth and the Moon were inherited from Earth and Theia, which could explain why Earth is wetter. It also suggests that both bodies probably formed in the same general region of the Solar System, rather than Theia forming farther out and migrating in, and that the impact couldn’t have happened earlier than 4.45 million years ago.

Although this challenges some accepted views of the formation of Earth and the Moon, it neatly explains the origins of volatiles in the Earth-Moon system, the researchers say. It accounts for differences in their volatile proportions, and explains the similarities in isotope ratios.

“There were only a few types of materials that could have combined to make the Earth and Moon, and they were not exotic,” explains cosmochemist Lars Borg of LLNL.

“They were likely both just large bodies that formed in approximately the same area that happened to run into one another a little more than 100 million years after the Solar System formed…but lucky for us, they did just that.”

The research has been published in PNAS.

 

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Business

Dow Jones Futures: Volatile Stock Market Continues As Russia-Ukraine Crisis Accelerates

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Dow Jones futures were higher following Monday’s volatile stock market action, as the U.S. relocated its embassy in Ukraine amid the ongoing Russia-Ukraine crisis. Arista Networks (ANET) and Continental Resources (CLR) were key earnings movers after the close, while Huntsman (HUN) will report early Tuesday.




X



Amid a volatile and struggling stock market rally, BHP Group (BHP), Deere (DE), Palo Alto Networks (PANW) and Stifel Financial (SF) are among Monday’s top stocks to buy and watch. All four stocks are in or near new buy zones.

On Monday, the Dow Jones Industrial Average ended down 0.5%, while the S&P 500 lost 0.4%. The tech-heavy Nasdaq composite inched lower.

Among the Dow Jones leaders, Apple (AAPL) rose 0.1% Monday, while Microsoft (MSFT) edged lower in today’s stock market. American Express (AXP), a Dow Jones stock to watch, is in buy range after last week’s breakout.

Electric-vehicle leader Tesla (TSLA) rallied 1.8%, snapping a two-day losing streak.

Microsoft, Stifel and Tesla are IBD Leaderboard stocks. BHP was featured in this week’s Stocks Near A Buy Zone column. Deere is an IBD SwingTrader stock. Palo Alto Networks was Thursday’s IBD Stock of the Day.

Dow Jones Futures Today: Ukraine-Russia Crisis

After the stock market close Monday, Dow Jones futures moved up 0.1% vs. fair value, and S&P 500 futures rose 0.2%. Nasdaq 100 futures were up 0.3% vs. fair value.

U.S. Stock Market Today Overview
Index Symbol Price Gain/Loss % Change
Dow Jones (0DJIA) 34565.78 -172.28 -0.50
S&P 500 (0S&P5) 4401.55 -17.09 -0.39
Nasdaq (0NDQC ) 13790.92 -0.23 +0.00
Russell 2000 (IWM) 200.70 -0.68 -0.34
IBD 50 (FFTY) 37.15 -0.40 -1.07
Last Update: 4:30 PM ET 2/14/2022

Among exchange traded funds, the Nasdaq 100 tracker Invesco QQQ Trust (QQQ) rose 0.1% Monday, and the SPDR S&P 500 ETF (SPY) moved down 0.35%.

The 10-year Treasury yield briefly moved back above 2% Monday before settling at 1.99%. Meanwhile, U.S. oil prices advanced around 2%, as West Texas Intermediate crude traded above $95 a barrel.

On Monday, the U.S. closed its embassy in the Ukrainian capital of Kyiv, relocating to Lviv near the Polish border. Secretary of State Antony Blinken said in a statement, “We are in the process of temporarily relocating our Embassy operations in Ukraine from our Embassy in Kyiv to Lviv due to the dramatic acceleration in the buildup of Russian forces.”

Stock Market Rally Struggles

The stock market posted mostly disappointing action Monday, as the Dow Jones Industrial Average and S&P 500 ended squarely lower. Amid the recent volatility, now is an important time to read IBD’s The Big Picture column.

Friday’s The Big Picture commented, “The distribution-day count since late January remains tame. But more importantly, traders who gained market exposure after a follow-through day on Jan. 31 are now under water. You can call that an expectation breaker.”

If you’re new to IBD, consider taking a look at its stock trading system and CAN SLIM basics. Recognizing chart patterns is one key to the investment guidelines. IBD offers a broad range of growth stock lists, such as Leaderboard and SwingTrader.

Investors also can create watchlists, find companies nearing a buy point, or develop custom screens at IBD MarketSmith.

Four Dow Jones Stocks To Watch Now

Stock Market Earnings: Arista, Continental,

Arista Networks and Continental Resources provided insight to two very different industries after the close Monday.

Cloud software leader Arista reported strong fourth quarter earnings and sales results, sparking an 8% surge in extended trade. ANET shares found stout resistance at their 50-day line last week, but may be set to reclaim that level on Tuesday if the extended session’s gains persist.

Continental, a leading shale oil producer, dropped around 1% late Monday after the company’s better-than-expected fourth quarter results. CLR shares ended Monday extended past a cup-with-handle’s 53.76 entry.

Chemicals maker Huntsman ended out of buy range past a 34.57 flat-base entry Monday. The company is expected to earn 90 cents per share on sales of $2.16 billion.

Dow Jones Stocks To Buy And Watch: American Express

American Express broke out past what IBD MarketSmith chart analysis plotted as a cup-base buy point at 189.13 and is in the 5% buy range that tops out at 198.59. AXP stock traded up 0.3% Monday.

Bullishly, the stock’s relative strength line is at new highs, indicating significant stock market outperformance.

3 Top Growth Stocks To Buy And Watch In The Current Stock Market Rally

Stocks To Buy And Watch: BHP, Deere, Palo Alto, Stifel

Mining giant BHP Group fell further below a cup-with-handle entry at 69.66 following Monday’s nearly 1% descent, according to IBD MarketSmith chart analysis. The relative strength line continues to ascend but remains far from its old highs, so that’s a technical metric to watch.

IBD SwingTrader stock Deere is just below a cup-with-handle’s 388.20 buy point after last week’s breakout move. The 5% buy zone goes up to 407.61. Shares dropped 1.4% Monday.

Thursday’s IBD Stock Of The Day, Palo Alto Networks, is moving up the right side of a consolidation with a 572.77 buy point. Shares rebounded from Friday’s sharp losses, moving up 2.1% Monday and ending just below the 50-day line. The cybersecurity leader will report earnings on Feb. 22, so an early breakout move will carry more risk.

IBD Leaderboard stock Stifel Financial fell further below its 78.70 buy point in a consolidation following Monday’s 1.6% drop. Its RS line hit a new high last week.

Join IBD experts as they analyze leading stocks in the current stock market rally on IBD Live

Tesla Stock

Tesla stock climbed 1.8% Monday, recovering a part of Friday’s 4.9% fall. On Monday, the China Passenger Car Association said Tesla sold 59,845 China-made vehicles in January, down from December’s 70,847 vehicles.

The stock is again approaching its long-term 200-day line after finding support there previously in late January. Tesla shares remain sharply below their 50-day moving average. There is no proper entry in sight, as the stock continues to consolidate.

The stock traded as high as 1,243.49 on Nov. 4, but ended Monday about 30% off that all-time high.

Dow Jones Leaders: Apple, Microsoft

Among Dow Jones stocks, Apple stock reversed from early losses to move up 0.1% Monday, but remains below its key 50-day moving average line. A new consolidation shows a buy point at 183.04, but a decisive move above last week’s high of 176.65 could be an early entry for aggressive investors.

Software leader Microsoft edged lower Monday, as the top Dow Jones stock looks for support around its long-term 200-day line.

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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Business

Dow Jones Futures Rise: 4 Top Stocks To Buy And Watch In Volatile Stock Market Rally

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Dow Jones futures were higher following Monday’s volatile stock market action. Dow Jones biotech Amgen, along Alpha & Omega Semiconductor and Take-Two Interactive Software, are key earnings movers late. And drug giant Pfizer will report ahead of Tuesday’s open.




X



Amid a volatile stock market rally, Alphabet (GOOGL), Blackstone (BX), CF Industries (CF) and Cheniere Energy (LNG) are among Monday’s top stocks to buy and watch. All four are in or near new buy zones.

On Monday, the Dow Jones Industrial Average ended unchanged, while the S&P 500 lost 0.4%. The tech-heavy Nasdaq composite slid 0.6% after reversing from solid gains.

Among the Dow Jones leaders, Apple (AAPL) dropped 0.4% Monday, while Microsoft (MSFT) was down 1.6% in today’s stock market. American Express (AXP), a Dow Jones stock to watch, rallied 1.1% as it heads toward a new buy point.

Electric-vehicle leader Tesla (TSLA) skidded nearly 2% Monday, giving up a part of Friday’s gains.

Cheniere, Microsoft and Tesla are IBD Leaderboard stocks. American Express and Blackstone were featured in this week’s Stocks Near A Buy Zone column.

Dow Jones Futures Today

After the stock market close Monday, Dow Jones futures rose 0.15% vs. fair value, while S&P 500 futures gained 0.25%. Nasdaq 100 futures were up 0.4% vs. fair value.

U.S. Stock Market Today Overview
Index Symbol Price Gain/Loss % Change
Dow Jones (0DJIA) 35090.86 +1.12 +0.00
S&P 500 (0S&P5) 4483.92 -16.61 -0.37
Nasdaq (0NDQC ) 14015.67 -82.34 -0.58
Russell 2000 (IWM) 199.39 +1.01 +0.51
IBD 50 (FFTY) 37.83 +0.10 +0.27
Last Update: 4:44 PM ET 2/7/2022

Among exchange traded funds, the Nasdaq 100 tracker Invesco QQQ Trust (QQQ) dropped 0.8% Monday, and the SPDR S&P 500 ETF (SPY) moved down 0.3%.

The 10-year Treasury yield pared losses Monday, but still ticked down below 1.92%. On Friday, the 10-year Treasury yield closed at 1.93%, the highest level since 2019. Meanwhile, U.S. oil prices declined around 1%, as West Texas Intermediate crude traded below $92 a barrel. West Texas Intermediate briefly topped $93 a barrel last week.

Stock Market Rally

The major stock indexes posted mixed action Monday, as the Nasdaq and S&P 500 ended with solid losses. Amid the recent volatility, now is an important time to read IBD’s The Big Picture column.

Friday’s The Big Picture commented, “Amazon.com (AMZN) fueled a big rally for the Nasdaq composite Friday, although the stock market wasn’t sure how to react initially to the January employment report, which came in much better than expected and prompted more selling in the bond market.”

If you’re new to IBD, consider taking a look at its stock trading system and CAN SLIM basics. Recognizing chart patterns is one key to the investment guidelines. IBD offers a broad range of growth stock lists, such as Leaderboard.

Investors also can create watchlists, find companies nearing a buy point, or develop custom screens at IBD MarketSmith.

Five Dow Jones Stocks To Watch Now

Dow Jones Earnings: Amgen

After the close Monday, Dow Jones biotech stock Amgen (AMGN) reported fourth-quarter earnings and sales results. The stock rallied less than 1% in extended trade.

AMGN shares ended Monday about 15% off their 52-week high.

Stock Market Earnings: AOSL, Take-Two, Pfizer, TransDigm

Other earnings Monday included Alpha & Omega Semiconductor (AOSL) and Take-Two Interactive Software (TTWO). Alpha & Omega Semiconductor initially rose in extended after reporting better-than-expected fiscal third-quarter results, but turned flat. Take-Two slid around 5% after the close after missing sales estimates.

Early Tuesday, drug giant Pfizer (PFE) and TransDigm (TDG) will release their quarterly results.

Wall Street expects Pfizer to earn 87 cents per share on sales of $24.15 billion. PFE shares finished Monday below their 50-day. In recent weeks, the stock triggered a round-trip sell signal from a 51.96 cup-base entry.

Meanwhile, TransDigm is expected to earn $3.14 a share on revenue of $1.23 billion. TDG shares are building a cup with handle with a 669.13 buy point.

Dow Jones Stocks To Buy And Watch: American Express

American Express decisively regained its 10-week moving average in recent weeks and continues to move up the right side of a new base with a 189.13 buy point, according to IBD MarketSmith chart analysis. Shares are just under a new buy point after Monday’s 1.1% gain.

Bullishly, the stock’s relative strength line is at new highs, indicating significant stock market outperformance.

Four Top Growth Stocks To Watch In The Current Stock Market Weakness

Stocks To Buy And Watch: Alphabet, Blackstone, CF Industries, Cheniere

Outside the 30-stock Dow Jones industrials, FANG stock Alphabet attempted a breakout past a 3,019.43 buy point following strong earnings results last week, but fell more than 7% below the new entry following recent losses. GOOGL shares almost 3% Monday, triggering the 7%-8% loss-cutting rule.

Despite the sell signal, last week’s strong earnings reaction was a big positive. Keep an eye on the search giant; it could be adding a handle to its current formation which would eventually result in a new entry.

Top financial stock Blackstone is trying to break out past a double bottom’s 136.56 buy point, but the stock is about 4% below the entry following three straight days of losses. Wait for the stock to stage another decisive move past the entry before considering a purchase of shares.

Fertilizer producer CF Industries gave up its ascending base’s 74.87 buy point during Monday’s 3.5 fall. CF stock boasts a perfect 99 IBD Composite Rating, per IBD Stock Checkup.

IBD Leaderboard stock Cheniere Energy is squarely above a 113.50 buy point in a flat base after Monday’s 2.15% climb, after recovering from a post-breakout slide. Its RS line hit another new high Monday.

Join IBD experts as they analyze leading stocks in the current stock market rally on IBD Live

Tesla Stock

Tesla stock descended almost 2% Monday, giving back a part of Friday’s 3.6% gain. The stock found much-needed support at its long-term 200-day moving average in recent sessions. But Tesla shares remain sharply below their 50-day line and there is no proper entry in sight.

The stock traded as high as 1,243.49 on Nov. 4 but ended Friday about 26% off that 52-week high.

Dow Jones Leaders: Apple, Microsoft

Among Dow Jones stocks, Apple stock dropped 0.4% Monday, falling for a third straight session and ending right at the 50-day line. Shares are again about 12% past a 153.27 buy point out of a cup-with-handle base, according to IBD MarketSmith chart analysis.

A new base is likely forming, but it is slightly too early for a proper buy point, but a decisive move past Thursday’s high of 176.24 could be used as an early entry for aggressive investors.

Software leader Microsoft dropped 1.6% Friday, setting up another potential test of the 200-day line. The top Dow Jones stock continues to build a new base but is below the 50-day line. Shares edged up 0.2% Monday.

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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Business

Dow Jones Futures: Microsoft Rebounds On Guidance; Stock Market Volatile As Fed Meeting, Tesla Earnings Loom

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Dow Jones futures were little changed overnight, along with S&P 500 futures and Nasdaq futures, erasing solid losses as Microsoft (MSFT) whipsawed higher following its earnings report and guidance. A new stock market rally attempt had a disappointing session on Tuesday, especially growth names, as an afternoon rebound off lows faded into the close.




X



Looking ahead, a crucial Federal Reserve meeting wraps up Wednesday afternoon. Tesla (TSLA) earnings are due after the close with Apple (AAPL) looming Thursday.

Microsoft Earnings

Microsoft earnings and revenue topped fiscal Q2 views. Initially, Microsoft stock fell 5% after hours, then rebounded solidly higher on strong guidance, before fading to a 1% gain. Shares closed down 2.7% at 288.49 on Tuesday, an inside day after Monday’s big reversal off lows to slim gains. MSFT stock finished below its 200-day moving average.

Microsoft earnings and guidance are important for cloud-computing rivals such as Amazon.com (AMZN) and Google parent Alphabet (GOOGL), as well as business software giants and even PC makers such as HP Inc. (HPQ)

F5 Networks (FFIV) and Texas Instruments (TXN) also reported late Tuesday. Both beat views, but F5 guided low on 2022 revenue, while Texas Instruments gave bullish guidance. FFIV stock dived overnight, while TXN stock rallied modestly.

Boeing (BA) and Abbott Labs (ABT) are due early Wednesday.

Time The Market With IBD’s ETF Market Strategy

Fed Meeting

The two-day Fed meeting concludes Wednesday afternoon, with a policy announcement due at 2 p.m. ET. There is some speculation that Fed policymakers could speed up the bond taper yet again, ending asset purchases by mid-February instead of mid-March. That would signal an even-faster shift to outright tightening, with Fed rate hikes and balance sheet reductions expected to start in the coming months.

Fed chief Jerome Powell will give his customary post-meeting press conference at 2:30 p.m. ET. His comments will be crucial in understanding how aggressive the central bank will be in the coming months.

In late 2018, rate hikes and balance sheet cuts helped trigger a bear market. The Fed quickly reversed course in early 2019, but inflation was tame back then. With inflation at multi-decade highs now, the Fed may feel compelled to keep tightening even if the stock market continues to sell off.

In any case, the Fed announcement and Powell’s commentary will likely spur big moves in stock prices and Treasury yields.

Tesla stock and Microsoft are on IBD Leaderboard. MSFT stock is on IBD Long-Term Leaders.

The video embedded in this article looked at volatile market action and analyzed American Express (AXP), Mosaic (MOS) and Ovintiv (OVV).

Dow Jones Futures Today

Dow Jones futures were flat vs. fair value. S&P 500 futures edged higher. Nasdaq 100 futures rose 0.3%. All had been solidly lower Tuesday evening — with Nasdaq futures tumbling nearly 2% at one point — then briefly turned modestly positive. Microsoft stock is a major weight in the Dow Jones, S&P 500 and Nasdaq 100.

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 on IBD Live

Stock Market Rally Attempt

The stock market rally attempt stepped back Tuesday, with the Nasdaq closing in the lower half of its range.

The Dow Jones Industrial Average came well off lows, briefly turning positive before closing down 0.2% in Tuesday’s stock market trading, boosted by earnings-related gains in AXP stock, IBM (IBM) and Johnson & Johnson (JNJ), with Chevron (CVX) rallying with crude oil prices. The S&P 500 index slumped 1.2%. The Nasdaq composite retreated 2.3%. The small-cap Russell 2000 gave up 1.3%.

The 10-year Treasury yield rose 3 basis points to 1.78%. U.S. crude oil futures jumped 2.8% to $85.60 a barrel.

Among the best ETFs, the Innovator IBD 50 ETF (FFTY) fell 1.6%, while the Innovator IBD Breakout Opportunities ETF (BOUT) gained 1.3%. The iShares Expanded Tech-Software Sector ETF (IGV) skidded 3.7%, with MSFT stock a major IGV holding. The VanEck Vectors Semiconductor ETF (SMH) tumbled 4%.

Reflecting more-speculative story stocks, ARK Innovation ETF (ARKK) retreated 3.7% and ARK Genomics ETF (ARKG) 2.8%. Tesla stock remains the No. 1 holding across ARK Invest’s ETFs.

SPDR S&P Metals & Mining ETF (XME) edged up 0.3% and Global X U.S. Infrastructure Development ETF (PAVE) sank 1.9%. U.S. Global Jets ETF (JETS) ascended 0.4%. SPDR S&P Homebuilders ETF (XHB) gave up 1.9%. The Energy Select SPDR ETF (XLE) popped 3.9%, with CVX stock a major holding. The Financial Select SPDR ETF (XLF) edged up 0.4%, with American Express a key component. The Health Care Select Sector SPDR Fund (XLV) declined 0.6%.

Five Best Chinese Stocks To Watch Now

Tesla Stock

Meanwhile, Tesla stock fell 1.3% to 918.40 on Tuesday. Shares tumbled below its December lows on Monday before slashing losses. TSLA stock no longer has a double-bottom base, but is still in a consolidation. The official buy point is 1,243.59, though 1,208 would offer an early entry. But Tesla stock is well below its 50-day line.

The Tesla stock reaction to earnings and guidance on deliveries, output and new products could drive EV stocks and high P-E stocks broadly.

CEO Elon Musk Tuesday evening tweeted that he was driving a new Cybertruck prototype around the new Austin plant. The Cybertruck reportedly will not enter production until early 2023.

The National Highway Traffic Safety Administration on Tuesday sought additional information regarding Tesla’s decision to let passengers play video games using the center touchscreen.

Apple Stock

Apple stock fell 1.1% to 159.78, close to round-tripping a November breakout and closing in on their 200-day line. Last week, Apple stock flashed a sell signal as it tumbled through its 10-week line decisively. Still, the relative strength line for AAPL stock has held up near highs, a reflection of just how weak the S&P 500 and broader market has been.

Apple stock by itself could move markets, but its earnings and guidance also will likely fuel or sink a number of chipmakers and other names in the broad iPhone ecosystem.

Market Rally Analysis

Tuesday marked day two of a stock market rally attempt. The major indexes again pared steep morning losses, especially the Dow Jones Industrial Average. But ultimately, the major indexes all lost ground, especially the Nasdaq. The S&P 500 and Nasdaq composite are down so far this week, while the Dow Jones is just fractionally higher.

If the major indexes can hold above Monday’s lows, a follow-through day could occur later this week. A FTD would confirm the new uptrend. Confirmed market rallies don’t always work — the late 2018 bear market had two confirmed uptrends that failed almost immediately — but they indicate institutional support for a nascent rally.

The Dow’s outperformance and the Nasdaq trailing makes sense. Real-economy sectors are holding up better than growth stocks.

Energy stocks led the way Tuesday with crude oil prices up solidly. Fertilizer stocks did well, with MOS stock rebounding and new Leaderboard holding CF Industries (CF) flashing an early buy signal. Some shipping stocks are holding up reasonably well.

Financials sold off last week, but haven’t broken down, with a few names such as AXP stock and fellow Dow component Travelers (TRV) looking healthy.

Meanwhile, growth stocks continue to struggle, including chips, software and ARK-type story stocks. Perhaps techs and growth stocks won’t lead the next confirmed market rally, but they’ll need to stop losing ground for a broad advance.

The negative Microsoft stock reaction to earnings isn’t a good sign for the market rally and especially techs. Wednesday’s Fed meeting decision and Powell comments may be decisive. Meanwhile, Tesla, Apple and other big earnings will play key roles.

Why This IBD Tool Simplifies The Search For Top Stocks

What To Do Now

A market rally attempt is underway. But with the Fed meeting on tap, Tesla and Apple earnings looming and many other big news swirling, the current market environment is extremely dangerous. Investors have the chance to get quick gains if you catch a rebound, but those bounces may not last. On the downside, you could see substantial losses in minutes.

If you feel compelled to play, keep your positions small and consider a broad market ETF vs. an individual stock. Have your exit strategy in advance, and raise your stops if your position gets a modest gain. But cash is still a smart strategy until there’s a confirmed market rally.

When there is an FTD, there may not be many good-looking stocks in position to buy. For now, keep working on those watch lists, focusing on stocks with strong relative strength.

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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Business

Brace for a volatile 2022, but cling to this tech stalwart when the storm comes, says investment adviser

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The pain is piling up for equity investors after the long U.S. holiday weekend, with bond yields at levels not seen since early 2020, and oil prices tapping 2014 highs.

The pace of Federal Reserve monetary policy tightening amid the highest inflation in about 40 years, a bumpy start to the corporate earnings reporting season and pandemic uncertainties are just a few things on the worry list. Technology stocks
COMP,
-1.12%
are set to take the biggest hit on Tuesday, as a rapid rise in short term interest rates tends to make their future cash flows less valuable.

While a Deutsche Bank chart (below) reveals more tech-bubble worries, our call of the day makes a case for one of the biggest tech stalwarts, Apple
AAPL,
-0.43%,
saying the iPhone maker has an ace in the hole that few are paying attention to.

That call comes from investment adviser Wedgewood Partners, who kick off their fourth-quarter 2021 client letter with a warning about market volatility for 2022, triggered by central bankers who are about to usher in some market chaos by pulling the plug on years of cheap money. Even Chinese President Xi Jinping was heard warning the Fed not to hike interest rates at a virtual Davos on Tuesday.

However, the adviser also sees opportunities ahead as selling picks up speed, and they plan to stick to Apple, which they’ve owned for 16 years.

While Wedgewood said it couldn’t foresee the many products the company unveiled, “we did know that Apple’s vertically integrated [software and hardware] product development strategy was unique and extremely capable of creating products and experiences that customers thought worthwhile enough to spend growing amounts of time and money on,” said the adviser.

Today, that strategy remains intact, but more important Apple is commanding a key new realm, having developed over a dozen custom processors and integrated circuits, since launching its “A-series” processors. For example, one it produced in 2017 provided the iPhone X with enough power to operate FaceID 3-D algorithms, used to unlock phones and make digital payments.

“Apple has effectively created a semiconductor business that rivals and even surpasses some of the most established semiconductor-focused businesses in the industry,” said Wedgewood. “Apple continues to differentiate through vertical integration, which has been a hallmark of Apple’s long-term strategy to grow and capture superior profitability. It is difficult to predict what new products will be unveiled; however, we think this strategy should continue to serve
shareholders quite well.”

Other top positions recommended by Wedgewood include telecom group Motorola
MSI,
-1.73%,
another tech stalwart Microsoft
MSFT,
-0.23%
and retailer Tractor Supply
TSCO,
-1.14%.

Here’s a final comment from Wedgewood about the stock storm it sees brewing. “The graphic below reminds us that when speculation reigns, markets can go far higher than what seems sober,” but when they fall “markets will repeat their long history of falling faster and further than what seems sober.”


Wedgewood Partners

“Long term investors should root for such downside. Such times are opportunities to improve portfolios. Our pencils are sharpened for opportunities as Mr. Market serves them up.”

The markets

Microsoft shares are slipping after the tech group confirmed it will buy Activision Blizzard
ATVI,
+27.39%
in a $68.7 billion cash deal. The gaming group’s shares are flying, along with those of rival Electronics Arts
EA,
+6.72%.

Goldman Sachs
GS,
-7.72%
added to a disappointing batch of bank results from last week, with shares down as earnings came up short, with Charles Schwab
SCHW,
-4.29%
also falling on gloomy results. Kinder Morgan
KMI,
-0.14%
and Alcoa
AA,
-1.43%
are still to come.

Airbnb shares
ABNB,
-2.49%
are slumping after ratings and target cut from an analyst who sees multiple headwinds and too-few catalysts.

The New York Empire state manufacturing index for January fell well short of expectations. A National Association of Home Builders index for the same month is still ahead.

An unpublished study by an Israeli hospital showed second Pfizer
PFE,
-1.78%
-BioNTech
BNTX,
-7.77%
or Moderna
MRNA,
-4.70%
boosters aren’t halting omicron infections. Separately, Moderna’s CEO Stephane Bancel said his company is working on a combined flu/COVID booster, while White House chief medical advise Dr. Anthony Fauci, said it’s too soon to tell if omicron will bring us out of the pandemic.

Another study says COVID infections are turning children into fussy eaters due to parosmia disorders that distort their sense of smell. And China state media says packages from the U.S. and Canada had helped spread omicron, as Hong Kong gets ready to cull thousands of hamsters.

An airline lobby group is warning of “chaos” for U.S. air travelers due to 5G services rolling out this month, in a letter signed by big carriers, UPS
UPS,
-1.55%
and FedEx
FDX,
-1.39%.

Larry Fink, chairman and chief executive of BlackRock
BLK,
-1.72%
said investors need to know where company leaders stand on societal issues.

Retailer Walmart 
WMT,
-1.28%
is looking at creating its own cryptocurrency and nonfungible tokens, according to U.S. patent filings.

The markets

Uncredited

The Nasdaq Composite
COMP,
-1.12%
is sprinting ahead with losses, with the Dow
DJIA,
-1.43%
and S&P 500
SPX,
-1.24%
also lower Tuesday led by those for the Nasdaq-100
NQ00,
-1.28%
as bond yields
TMUBMUSD10Y,
1.848%

TMUBMUSD02Y,
1.034%
surge across the curve. Oil prices
BRN00,
+1.06%

CL00,
+1.56%
are surging after Iran-backed Houthi rebels launched a deadly drone attack on a key oil facility in Abu Dhabi. Goldman Sachs also predicted Brent could top $100 a barrel in 2023, while the OPEC left its 2022 global oil-demand forecast unchanged.

Losses spread to Asian
NIK,
-0.27%
and Europe stocks
SXXP,
-0.77%,
with a key German bund yields
TMBMKDE-10Y,
-0.012%
about to turn positive for the first time in three years.

The chart

A January survey of more than 500 investors polled by Deutsche Bank shows a slightly gloomier mood. For example, they are more bearish:


Uncredited

Many, especially those over 34, think tech shares are in a bubble:


Uncredited

And they continue to see inflation as the biggest risk to markets, but are also fretting a more aggressive Fed:


Uncredited

Here are the top stock tickers on MarketWatch as of 6 a.m. Eastern Time.

Ticker Security name
TSLA,
+1.47% 		Tesla
GME,
-5.61% 		GameStop
AMC,
-6.32% 		AMC Entertainment
BBIG,
+29.75% 		Vinco Ventures
NIO,
-0.71% 		NIO
AAPL,
-0.43% 		Apple
CENN,
-4.72% 		Cenntro Electric Group
NVDA,
-1.57% 		Nvidia
BABA,
-0.85% 		Alibaba
NVAX,
-4.04% 		Novavax
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