With technologies lagging behind, stocks launched in mixed trading on Monday, while commodities held a broad-based rally. Miners took the lead in growth stocks, with Freeford-McMoran, Cleveland Cliffs and Southern Copper seeing strong initial gains. Bioendech of Germany Rose in the first quarter results. While Apple, Intel and Microsoft are lagging behind, Chevron easily led the Dow Jones today.
The Dow Jones Industrial Average advanced 250 points, rising 0.7% to a sixth straight high, marking a new record. The S&P 500 fell 0.1%. The Nasdaq compound spilled 1.4% The stock market today, Of China J.D.Com (J.D.) And Travel.com (TCOM) Is dragged to the bottom of the list.
Facebook (FB) Dragged on the Nasdaq, down 3.1% after the City shares were neutralized, reduced from a buy.
Freeport-McMoron (FCX) Ran above the S&P 500, with prices of copper, iron ore and gold rising 4.4%. Freeport seeks to extend its rally to the sixth day, which is about 17% from the 37.71 buyout destruction. IPD Marketsmith analysis Layer as a double-bottom base.
Gasoline prices made modest gains due to the closure of a major pipeline caused by Cypriot, helping to send oil-related stocks to six of the 10 biggest early moves on the S&P 500 list.
Stocks to watch on Monday IPD’s Investment Action Plan, Adds Ruth’s hospitality (Ruth), Which is above the 26.97 buying point. Marinemax (HZO) Is above the 64.09 entry. Deere (FROM) 392.52 is broken from the place of purchase. Thor Industries (THO) 148.18 is below entry, and competition Winnipeg (WGO) 87.63 operates at the center. Jefferies Fund (JEF) 34.96 is approaching the buying point, but is already above the initial entry of 33.68.
Chevron Base Dow Jones Today
Chevron (CVX) Easily led the initial action on the Dow Jones today, with petrol prices rising 2.4%. Technology stocks were an obstacle to Doe’s progress Intel (INTC), Microsoft (MSFT) And Apple (APPL) Hanging at the bottom of the list.
Dow Jones returns after a week-long break from earnings Walt Disney (D.I.S.) Reported its financial second quarter results late Thursday. Analysts at Jox Investment Research expect revenue to fall 55% year-on-year to 28 cents. Revenue was down 10% to $ 16.1 billion.
Revenue News: Biotech,
Bioentech (PNTX) After reporting, 8.3% more milling Top-forecast first quarter results. Germany-based Biotech has also announced plans to establish a fully integrated MRNA manufacturing facility in Singapore, which is expected to be operational by 2023. Bioentech and Pfizer (P.F.E.) Is a partner in Bioendech’s Govit-19 vaccine in the United States and Europe, while independently administers the Bioentech vaccine in Germany, China and Turkey.
Bioendech shares were extended from its resumption on Friday 10 week moving average. Shares have risen nearly 40% since the April 14 breakout. Pfizer shares rose 1.3% on Monday.
Magic software companies (MGIC) 4.6% higher after reporting first-quarter sales and revenue success. The Israeli-based commercial utility maker is trading below the 18.45 buy point on the 11-week file site.
Energizer Holdings (ENR) 4.5% higher, Party city (PRTY) Increased nearly 11% after reporting first-quarter results. Energizer Holdings marks the opening hourly interval of 51.48 beyond the point of purchase in a cup-with-hand. The stock is weak Collective evaluation At 64 from IPT.
Fuel prices / colonial pipeline shutdown
Colonial Pipeline announced that it was forced by a ransomware attack to shut down the pipeline of its massive refined products. The route delivers 2.5 million barrels a day from Gulf Coast refineries to northeastern markets – half of the total petrol, diesel and jet fuel supply.
The privately owned company revealed a strike late Friday. It did not say when the pipeline would be restarted, or whether it planned to meet recovery demands.
RBOB Gasoline Futures – or Redesigned Blend for Antioxidants – The price scale for U.S. gasoline products has been rising since March. The RBOB hit a 33-month high on Friday. Prices briefly rose above 21 2.21 per gallon on Monday, their highest mark since May 2018, before reaching a profit of 1.5% to around 15 2.15 per gallon.
Oil, copper, bond yields
From a supply / demand perspective, pipe closure will, under normal circumstances, push down the price of crude oil. But as oil prices rose on Monday, copper gained new momentum and iron ore accumulated 10% in China’s markets. West Texas intermediate crude rose 0.5% to trade above $ 65 a barrel – down $ 66.76 from last week and a 33-month high of $ 67.98, which was recorded on March 8th.
Copper exploded almost 3% higher to a new record, then traded up 0.4% at 76 4.76 per pound. Copper broke its previous record on Wednesday, February 2011.
According to CBOE data, the 10-year yield is more than 1.57%, which is at its steady level since Friday. The 10-year yield is now entering its fifth day below its 50-day moving average, which is much longer than that level of support since August. Yields fell to pre-epidemic levels in late March, rising to almost 1.76% – the highest level since January 2020.
Today Dow Jones: Kate, Goldman in By Ranges
Combined with the Nasdaq, the Dow Jones is advancing straight to five sessions today, and it looks set to open in new territory with a new record. The S&P 500 held its solid, two-day bounce competition 21 day high speed moving average, Will reach new heights beyond the peak on April 29th.
Year-to-date performance at Dove shows, below the list, Merck (M.R.K.) Down 4.1% and Procter & Gamble (B.G.) With a loss of 2.9%. Nike (Off) And Salesforce.com (C.R.M.) Is one of the top five degliners, each less than 3%.
For a detailed analysis of the current stock market and its status, Read the big picture.
However, 17 of the 30 Dow Jones stocks are now up more than 10% this year. Goldman socks (G.S.) Has a gain of 40.6%. Walkreens Boots Alliance (WBA) Is up to almost 37%. Goldman Sachs is still in the buying range above 356.95 on a trophy site.
IPD50 / Leaderboard: Cleveland Cliffs, South Copper
Commodity dramas ruled IPT 50 List In early action on Monday. Cleveland Cliffs (CLF) Was up 7.6% after hitting an 18.3% forecast last week. Leading iron ore miner, a leading steel market, has risen 25% since it destroyed 17.88 purchases in March following its acquisition in 2020. The shares were extended on Monday a Buy Zone Above the replacement buying spot at 20.97.
Southern Copper (SCCO) Rose to 8%, gaining a sixth straight advance. The gain elevated the stock to a brief 83.25 buying spot above the 11-week trophy site.
IPT 50 Gold Mine Siphony Stillwater (S.P.S.W.) Added 0.8% in early trading.
Alan R. on Twitter. Find Elliott @IBD_Aelliott
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