The Dow Jones Industrial Average gained but lags behind the rising Nasdaq. Twitter (TWTR) news exploded Tesla (TSLA) owner Elon Musk has taken over the shares. Meanwhile, Donald Trump SPAC Digital World Acquisition (DWAC) collapsed.
Apple (AAPL), Microsoft (MSFT) and Intel (INTC) are the primary blue chips. Such as China stocks Alibaba (Baba) even jumped.
One in three stocks focus on buying points. Summary (SNPS), Laredo Petroleum (LPI) and Kimko Reality (KIM) designed all bullish sites.
The volume was lower on the New York Stock Exchange and the Nasdaq compared to the same time on Friday.
Meanwhile, the yield of the benchmark 10-year treasury note rose three basis points to 2.4%. West Texas Intermediate crude rose 4% to more than $ 103 a barrel.
Nasdaq profits as Tech Stocks Flex
The Nasdaq performed well on key indices, up nearly 2%. Outside of China stocks, Acta (OKTA) performed better with a gain of almost 8%.
The S&P 500 struggled with gains of about 0.7%. Etsy (ETSY) is one of the best performers here as it has risen almost 9%.
Today’s overview of the US stock market
|Index||Logo||Price||Gain / Loss||% Change|
|S&P 500||(0S & P5)||4577.13||+31.27||+0.69|
Last Updated: 3:00 PM ET 4/4/2022
Most of the S&P sectors were actually red. Technology, consumer preference and communication services were at the forefront. Health and utilities are the worst backward.
Small caps lagged in key indices, with Russell 2000 gaining 0.2%.
Growth stocks continued to strengthen until the end. Innovator IBD 50 ETF (FFTY), the bellwether of growth stocks, rose 0.6%.
Dow Jones gains as Apple stock, Microsoft pop
The Dow Jones Industrial Average also managed to make a profit. 0.3 percent.
Apple stock was up 2%, making it one of the best performing companies. The IPD stack of the day became the double bottom base last week.
According to IBD MarketSmith charts, the buying point is 176.75, however it will now make a handle.
Leaderboard stocks performed well as Microsoft turned nearly 2% in profit. Chip Play Intel is up about 2%.
But it was Salesforce.com (CRM) was up 4% so everything was better.
Twitter stock exploded as Elon Musk invested
Elon Musk is now the company’s largest shareholder. This is up almost 30%.
In an SEC filing on Monday, Musk announced that he owns about 73.5 million shares of Twitter. The stock was valued at $ 2.89 billion at the close on Friday.
Elon Musk is now the largest shareholder, owning more shares than the company’s famous founder Jack Dorsey.
Tesla is one of the most influential users of the admin website. A few weeks ago he lashed out at the company on stage and held a poll with followers to see if it protects freedom of speech.
“As the Twitter practice operates as a public city square, failure to adhere to free speech policies fundamentally undermines democracy,” he tweeted. “What to do?”
Nevertheless, Muskin’s condition is currently classified as passive.
Tesla stock rise in delivery data
Tesla shares, meanwhile, rose lower following the release of new delivery data over the weekend.
Tesla says it has delivered a record 310,000 vehicles worldwide in the first three months of this year. This is about 68% more than the same period a year ago.
It missed some ratings. While Wall Street expects about 309,000 deliveries, some analysts estimate 317,000 in the first quarter.
Elon Musk said in a tweet that this was an “exceptionally” difficult quarter due to supply chain problems and Govt policies in China.
The stock is up nearly 6%, although the medium-sized is not the best. It continues to create the right side of a file base.
Tesla is a member of the prestigious IBD Leaderboard list of leading stocks.
Donald Trump SPAC Dives
In contrast to the positive action on Twitter, SPAC, which plans to launch the digital global acquisition, Donald Trump’s social media platform, has collapsed.
Not only did it compete with Twitter, but it was reduced amid reports that executives of the social networking site Truth Social had walked away.
Reuters reports that technology leader Josh Adams and product development leader Billy Booser are stepping down. It is unknown at this time what he will do after leaving the post.
Truth Social has been plagued by hiccups since its launch, with more than a million users still on the waiting list as the platform struggles to fully function.
Trump has not yet used the service outside of a message that “your favorite president will meet you soon.”
The DWAC stock has a comparative strength rating of 99, which has been in the top 1% in terms of market performance over the last 12 months and has been falling late.
The associated strength line is declining, losing about 30% last month. It now sits at an all-time high of 68% of the 175 it reached last October.
The Digital World is the SPAC that launched Donald Trump’s social media platform Truth Social. The processor was launched to compete with Twitter, which Trump and many other critics say restricts freedom of speech.
China stock markets rallied as Alibaba stock market rose
Many Chinese stocks moved higher on Monday, despite uncertainty in the broader market.
Alibaba, as it is often called Amazon China (AMZN) rose about 6%.
The stock is now fighting back above its 50-day level, but is rooted below the 200-day moving average.
Fellow e-commerce play பிந்துவோடுவோ (PDD) is one of the leading stocks in the Nasdaq, rising 15%. பைடு (BIDU) was up more than 8% and was doing well.
These three shares are eye inputs
Synapse, a chip design software company, is developing a new cup base with a better entry point of 377.70, according to Market Smith analysis. A handle can be formed quickly, which will provide less entry.
This stock has an excellent EPS rating of 93 out of 99 and has excellent all-round performance. Analysts see steady revenue growth of 16% in 2022 and 16% in 2023.
Laredo Petroleum trades from its cup-with-handle base near its buying point of 88.40. Large sums of money are accumulated late, and its accumulation / distribution rating is A.
As the Russia-Ukraine war drags on, energy stocks in general continue to attract.
Kimco Realty creates a flat base pattern with an excellent entry point of 25.72.
The stock is a double threat, offering a 3.1% dividend. This is more than double the S&P 500 average of 1.3%.
The Real Estate Investment Trust specializes in shopping centers. This may be beneficial as Govt returns to stores when the epidemic fades.
Follow Michael Larkin on Twitter @IBD_MLarkin Learn more about growth stocks and analysis.
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