The Dow Jones Industrial Average rose on Friday ahead of Federal Reserve Chairman Jerome Powell’s speech in Washington. while, Occidental Petroleum (OXY) rose after Warren Buffett’s Berkshire Hathaway boosted its stake in the energy giant.
Fed Chair Powell is scheduled to speak at 11:00 a.m. ET at the Thomas Luebeck Research Conference. According to the Federal Reserve websiteThis year’s conference will highlight key issues in monetary policy and economics and facilitate discussions on the challenges faced by monetary policymakers. The conference will be broadcasted online www.federalreserve.gov And www.youtube.com/federalreserve.
Occidental shares rose 1.6% after Warren Buffett’s lead Berkshire Hathaway (BRK.A) (BRK.B) bought approximately 3.5 million shares in the energy company worth about $200 million each SEC filings, in the last days. The new purchases brought Buffett’s stake in Occidental to $12.7 billion, or roughly 25% of the company.
Key earnings factors include Friday morning Applied materials (AMAT), monastery (DE), foot locker (fl) And Ross Stores (Rust).
Applied Materials was down 2% in morning trade, while shares of Deere were up about 6% on solid earnings.
Foot Locker stock fell 26% amid poor first-quarter earnings and sales results. Finally, Ross’s department store was down 5% after the market opened.
stock market today
electric car giant Tesla (TSLAfell 0.1% on Friday morning. Dow Jones Tech Giants apple (AAPL) And Microsoft (MSFT) were mixed after the opening of the stock market today.
advanced micro devices (AMD), IBD Stock Leaderboard ASML (ASML), IBD SwingTrader stock L Research (LRCX) And Netflix (NFLX) – as well as Dow Jones shares Boeing (Bachelor’s), sales force (CRM) And visa (Fifth) – among the best stocks to buy and watch in the stock market’s continued bullish trend.
Lam Research and Netflix were the IBD stock topics for the day.
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Dow jones today: oil prices and treasury yields
After the opening bell on Friday, the Dow Jones Industrial Average rose 0.1% Nike (NKEThe clouds are at the bottom of the list as shoe stocks plummeted after the Foot Locker report.
The S&P 500 was up 0.3%, while the Nasdaq Technology Composite was up 0.35% in the morning move.
Among the US ETFs, the Nasdaq 100 tracker Invesco QQQ Trust (QQQ(up 0.1%, while the SPDR S&P 500 ETF rose)spy) rose 0.3% early on Friday.
The 10-year US Treasury yield on Friday traded up to 3.69%, on track to extend a five-day winning streak that has seen it rebound to its highest level since mid-March.
US oil prices continued to rise between $70 and $73 per barrel. West Texas Intermediate crude futures rose more than 1% on Friday morning, settling just below $73 a barrel.
Stock market action
On Thursday, the Dow Jones Industrial Average rose 0.3%, adding to Wednesday’s rally that saw the index reclaim the 50-day line. The S&P 500 rose 0.9% on Thursday, also hitting a new 2023 high. The Nasdaq Technology Composite rose 1.5%. Small cap Russell 2000 rose 0.6%.
The Big Picture column commented Thursday, “Wednesday’s bull run on Nasdaq prompted IIB to increase recommended market exposure to 40%-60%. With more fresh highs Thursday, no distribution days on Nasdaq and a growing number of notable breakouts It makes sense for investors to increase their exposure to stay in sync with market movements.”
Now is an important time to read IBD’s The Big Picture column after last week’s upward change in market expectations.
The five best Dow stocks to buy and watch right now
Dow Jones stock to buy and watch: Boeing, Salesforce, Visa
Aerospace giant Boeing Dow Jones rose on Thursday, settling above its 50-day line and approaching the 221.43 buy point of the flat base, according to IBD MarketSmith pattern recognition. BA shares were up 0.4% early on Friday.
IBD Leaderboard Salesforce stock has climbed on previous alternate entries at 194.01 and 200.10 in recent sessions, according to Leaderboard analysis. Meanwhile, the RS line has made a new high this week, which is a bullish sign. CRM stock rose 0.2% Friday morning.
Shares of Visa remain in a buy range above the 230.15 cup handle buy cup, after rising 0.4% on Thursday. The buying range rises to 241.66. V shares rose 0.2% on Friday.
4 top growth stocks to watch in Stock market rise
Best stocks to buy and watch: AMD, ASML, Lam, and Netflix
Slide leader Advanced Micro Devices is outside the buy range beyond 102.53 points buy cup base, according to IBD MarketSmith pattern recognition, up 4% on Thursday. The buy zone rose 5% to 107.66. Last week’s advance saw AMD stock rise above an early entry in the trend line, using the May 4 high of 91.64 as a buy point. AMD shares fell 1.4% on Friday.
IBD Leaderboard ASML stock broke above 683.28 buy points in a cup with handle on Thursday. The 5% buy zone tops at 717.44. ASML rose 0.2% on Friday.
Lam Research stock broke out from a flat base with a buy point at 548.95 on Monday and added to those gains on Thursday, pulling away from the buy range. LRCX stock fell 0.9% on Friday.
Streaming giant Netflix spread after a buy point of 349.90 from a cup-by-handle base, up 9.2% Thursday after Netflix said its ad-supported plan had nearly 5 million monthly active users worldwide. NFLX stock fell 1.3% on Friday morning.
Learn how to time the market with IBD’s ETF market strategy
Best stocks to buy and watch the stock market rise
These are the top four stocks to buy and watch in the stock market today, including two of the Dow Jones leaders.
|Company Name||Code||The right point of purchase||Point of purchase type|
|L Research||(LRCX)||548.95||Flat base|
|visa||(Fifth)||230.15||mug with handle|
|advanced micro devices||(AMD)||102.53||cup base|
Source: IBD data as of May 19, 2023
Join IBD experts as they analyze the leading stocks of the current stock market rally on IBD Live
Tesla stock rose 1.7% on Thursday, posting another boost at the 50-day line. Stocks are poised to rise above the 10-week moving average as the stock looks to build a new base. Thursday shares closed 47% off their 52-week high.
TSLA stock appeared to add to Thursday’s gains, but fell 0.1% Friday morning.
Dow Jones leaders: Apple and Microsoft
Among Dow Jones shares, Apple shares rose 1.4% on Thursday, closing at its highest level since April 5, 2022. The stock continues to add to gains above 157.48 buying points and is outside the buying range that reached 165.35. AAPL stock rose 0.5% on Friday, nearing a 52-week high.
Shares of Microsoft rose 1.4% Thursday, hitting a 52-week high of 319.04. MSFT stock continues to increase gains above 276.86 fixed-base buying points. On Friday morning, MSFT stock was down 0.3%.
Be sure to follow Scott Lehtonen on Twitter at @employee Learn more about developing stocks and the Dow Jones Industrial Average.
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