Dow tumbles after key economic data, BBBY shares fall 28%

The Dow Jones Industrial Average fell on Thursday after the release of key economic data – first-time jobless claims and the Philadelphia Fed Manufacturing Index -. bed bath behind (BBBY), or BBBY stock, fell Thursday morning.

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BBBY stock appears poised to halt its strong winning streak on Thursday, after renewed interest in the meme stock. Shares were down 28% in morning trading after that Jim Stop (GME) Head of Ryan Cohen’s RC Ventures He disclosed a plan to sell stock. Bed Bath & Beyond, a retailer struggling with big losses, surged as much as 560% from its July 27 low of 4.54 to Wednesday’s high of 30.00.

Thursday’s main earnings factors include BJ’s sentence (BJ), Canadian Solar (CSIQ), Dow Jones Cisco Systems (CSCO), kisette (keys), kohl (KSS), Sociedad Quimeca y Minera (Square meters) And the Synopsys (SNPS).

BJ’s Wholesale stock jumped 9% while Canadian Solar stock jumped 7.5%. Cisco share Keysight stock is up 6% as Keysight stock is up 4.5% and Kohls stock is down 9%. Synopsys beat estimates on the top and bottom lines, resulting in a 1% rise. And the SQM shares It decreased by 5%.

electric car leader Tesla (TSLA) is up 0.3% Thursday morning. in another place, Technology Pioneers at Dow Jones apple (AAPL) And the Microsoft (MSFT) They both fell after stock market today Open.

In the current healthy stock market environment, Dow Jones shares coca cola (KO) And the merck (Mrk) – Beside Albemarle (ALB), costco (cost), monolithic power systems (MPWR) And the Initial deal executor (OLLI) – among the top stocks to buy and watch.

Albemarle and Costco appeared In stock this week near the buy zone bar. Costco stock added to IBD Leaderboard And the SwingTrader Following Tuesday’s breakout move. Albemarle was new IBD stock today.

Dow Jones today: Treasury yields and oil prices

Early Thursday, the Dow Jones Industrial Average was down 0.3%, while the S&P 500 was down 0.15%. The heavy Nasdaq Composite was trading 0.25% higher in morning trading.

within Exchange Traded FundsNasdaq 100 Invesco QQQ Trust Tracker (QQQ(down 0.25%, the SPDR S&P 500 ETF)spy) is down 0.2% in early trade.

The 10-year Treasury yield fell to 2.86% early Thursday, after Wednesday’s jump to 2.89%. The 10-year Treasury yield is recovering after hitting its lowest level since early April in recent weeks.

Meanwhile, US oil prices appear to be recovering from this week’s losses, which fell to their lowest level since January. West Texas Intermediate crude futures were trading 1% higher, just above $89 a barrel.

Unemployment Claims, Philly Fed Index, Home Sales

Jobless claims fell for the first time to 250,000, less than estimates called for a rise to 265,000 from 262,000 in the previous week.

The Philadelphia Fed Manufacturing Index rebounded to 6.2, sharply above estimates that had expected a negative 5.0. This indicator lost expectations in July at minus 12.3 for its second negative reading in a row.

Existing Home Sales It is expected to fall to 4.85 million in July from 5.12 million in June. The July report of the National Association of Realtors is due out at 10 a.m. ET

stock market rise

On Wednesday, the Nasdaq led the stock market lower, down 1.25%. This was followed by the Dow Jones and S&P 500 indices with losses of 0.5% and 0.7%, respectively.

Wednesday big picture column He commented, “Mid-August is supposed to be a quiet time for stock traders. But Wednesday gave stock market participants plenty of news to digest. In the end, Wall Street bulls needed a well-earned respite.”

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Dow Jones Earnings: Cisco Systems

Networking giant Cisco Systems and shares of Dow Jones have reported that they Second Quarter Earnings Results After closing Wednesday. Cisco shares jumped 6% after fiscal 2023 revenue forecasts beat expectations, while fourth-quarter fiscal 2022 results beat Wall Street estimates.

Cisco shares Wednesday finished nearly 27% off their 52-week high.

Five Dow Jones stocks to watch right now

Dow Jones stocks to watch: Coca-Cola, Merck

Dow Jones soda giant Coca-Cola is building a flat base with 67.30 POIs. Handle entry at 65.14 is also in play. The stock rebounds from the 50-day streak and is trying to top the handle entrance. The stock rose early Thursday.

Merck is also building a flat base, a pattern that shows a 95.82 buy point. Accordingly, stocks are trying to hold above the 50-day line IBD Market Smith Graph analysis. Merck shares rose nearly 1% on Thursday.

MRK Stock Shows a solid value of 94 out of 99 perfect IBD compound classification, for every IBD stock check. Investors can use the IBD composite rating to easily gauge the quality of a stock’s fundamental and technical metrics.

4 Growth Stocks You Should Buy and Watch on Cursstock market rally

Top stocks to watch: Albemarle, Costco, Monolithic, and Ollie’s

Lithium product Albemarle remains in a buying range after last Friday’s breach of 273.78 buy point At the base of a large cup with a handle. Buying area rose 5% to 287.47. Earlier last week, stocks topped a smaller cup with a handle at 250.25 buying points. Shares fell 1.1% on Wednesday, falling for the second day in a row. The stock was slightly higher on Thursday morning.

IBD Leaderboard Costco stock breaks through a cup with a handle at 552.81 buy points. The stock is up 0.6% on Wednesday, moving higher in the buying zone of 5%. Shares were up 1% early Thursday.

Today’s latest stock of IBD Single-handle Power Systems added to the base of the cup last week, moving the correct buy point from 580.10 to 541.49. Meanwhile, stocks remained above the entry level of 514.80. The stock rose 1.3% Thursday.

The deal executor recovers in the first of 10 week streak Important Support Level – The highest discount retailer has been placed in a new buying area. Stocks are also carved Handle after a large cup base, and put the last buy point at 72.37. The current price action is about 11% away from this entry. Shares were up 0.3% Thursday morning.

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

Tesla Stock

Tesla stock lost 0.8% on Wednesday, extending losses on Tuesday. Shares of the electric car giant rose 0.3% Thursday morning.

The stock closed this week at its highest level since May 4. Stocks are trying to rise again decisively above the resistance around the 200-day line, a key level to watch. Tesla is down about 27% from its 52-week high. The 3-for-1 stock split is set on August 24.

Dow Jones Leaders: Apple and Microsoft

within Dow Jones stockApple shares rose 0.9% on Wednesday, as is the stock Continues to build the right side of the cup base Which has 179.71 buy points. Another explanation could be a big double bottom that extends into January. In both cases, the point of purchase is identical. Keep an eye out for a possible handle on the composition and offering a lower entrance.

On the upside, the stock’s relative strength line has already reached new highs, indicating a significant stock market outperformance. Shares were down 0.55% Thursday morning.

Microsoft stock fell 0.5% on Tuesday, ending nearly its long-running 200-day streak, which is a major resistance area to watch. The stock lost 0.5 percent early Thursday.

Make sure to follow Scott Lehtonen on Twitter at Tweet embed Learn more about developing stocks and the Dow Jones Industrial Average.

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