Dow futures rose Wednesday morning, while S&P 500 and Nasdaq futures posted slightly broader gains. while, Tesla (TSLA) The stock rose in morning trading, and is set to reach a new high in 2023. W Netflix (NFLX) jumped after a pair of price hikes targeted by analysts.
X
Includes Wednesday’s earnings reports Dave Webster (He plays), Lovesack (love), Initial outlet (OLLI) And stitch repair (SFIX).
Dave & Buster shares rose more than 5%, with LOVE stock jumping 4% in premarket trading. Shares of Ollie advanced 7% before falling nearly 2% in pre-market trading. Finally, Stitch Fix is up 10% early.
stock market today
Shares of Netflix jumped 3% on Wednesday, tipping toward a 52-week high. JPMorgan and Wells Fargo have raised their price targets on Netflix stock to 470 and 500, respectively. Both of them maintained their weight gain rates.
Electric car giant Tesla, which had already been sitting in an eight-day lead, rose 3% on Wednesday morning. Dow Jones Tech Giants apple (AAPL) And Microsoft (MSFT) was trading slightly lower before the stock market opened today.
Cloud Flair (network), dexcom (DXCM), fortinet (FTNT) And Taiwan Semiconductor (TSM) – as well as Dow Jones shares Cisco systems (CSCO), McDonald’s (mcd) And sales force (CRM) – among the best stocks to buy or watch in an uptrend of the stock market.
Arista was an IBD stock late in the day, while Tesla is an IBD Leaderboard stock. McDonald’s stock column appeared near the buy zone for the week.
Dow jones today: oil prices and treasury yields
Before the opening bell on Wednesday, Dow Jones futures contracts reversed early losses and rose partially against fair value. Salesforce.com led the Dow, up more than 1%.
S&P 500 futures were also higher, and the Nasdaq 100 was up 0.15% in the morning move.
Among the US ETFs, the Nasdaq 100 tracker Invesco QQQ Trust (QQQ(up 0.15%, while the SPDR S&P 500 ETF traded)spy) rose early on Wednesday.
The 10-year US Treasury yield fell on Wednesday to 3.68%. On Tuesday, the yield extended its 10-year winning streak into three sessions.
US oil prices rebounded on Wednesday morning ahead of the EIA’s weekly Crude Oil Inventories release at 10:30 AM ET. West Texas Intermediate crude futures rose more than 1% on Wednesday, around $72.50 a barrel.
Stock market action
The Dow Jones Industrial Average rose on Tuesday, while the S&P 500 rose 0.2%. The Nasdaq Technology Composite Index rose 0.4%.
The Big Picture column commented on Tuesday, “Both the Nasdaq Composite and Nasdaq 100 are starting to show stretches of their 50-day moving averages, increasing the potential for a pullback. But the same can’t be said for the S&P 500, which broke out Friday on larger volumes — at the same time.” The day the International Development Bank raised its investment allocations to 60% to 80%.”
Now is an important time to read IBD’s The Big Picture column after the recent upward change in market expectations.
The five best Dow stocks to buy and watch right now
Dow Jones Stocks to Buy and Watch: Cisco, McDonald’s and Salesforce
Networking giant Cisco Systems on Dow Jones builds a teacup base with 52.56 buy points. Keep an eye out for a potential handle, which will show a previous entry. CSCO stock rose on Wednesday before the open.
McDonald’s, the Dow Jones restaurant giant, has fallen below its 10-week moving average, which is a bearish sign. The stock is trying to hold above 281.67 points of purchase from the breach two months ago. The gains are dwindling quickly. While the stock is approaching a buy point, its actions suggest avoiding buying for the time being. Look for more bullish bounces before considering buying the stock. MCD stock traded flat early Wednesday.
Previous Salesforce has climbed in alternate entries at 193.91 and 200.00 in recent weeks, according to Leaderboard analysis. Last week, the shares reached a 20% gain zone of 178.94 cups by the handle, but are now falling. The stock may soon test its main 50-day line. CRM stock jumped 1.5% Wednesday morning.
4 top growth stocks to watch in Stock market rise
Best stocks to buy and watch: Dexcom, Cloudflare, Fortinet, and TSMC
IBD SwingTrader Dexcom stock is approaching the 126.44 buy point of the flat base after a five-day winning streak, according to IBD MarketSmith pattern recognition. DXCM shares rose 0.1% on Wednesday, within striking distance of entry.
Cybersecurity leader Cloudflare broke above 66.20 buy points last week into a double bottom. The shares closed on Tuesday in the 5% buy zone, which comes to 69.62. Net shares were unchanged before the market on Wednesday.
Monday’s IBD stock, Fortinet, remains above its steady base of 69.07 buy points despite a session drop of 2.4%. FTNT stock closed in the 5% overbought area topping at 72.52. The shares added 0.1% ahead of Wednesday.
Taiwanese semiconductor chip foundry rebounded 0.9% on Tuesday, in a buy range of 95.82 double bottom buy points. The area to buy 5% comes to 100.72. TSM shares were up 0.7% Wednesday 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 leader Dow Jones.
| Company Name | Code | The right point of purchase | Point of purchase type |
|---|---|---|---|
| ASML | (ASML) | 683.18 | mug with handle |
| sales force | (CRM) | 200.00 | merge |
| Cloud Flair | (network) | 66.20 | Double bottom |
| fortinet | (FTNT) | 69.07 | Flat base |
Source: IBD data as of June 6, 2023
Join IBD experts as they analyze the leading stocks of the current stock market rally on IBD Live
Tesla stock
IBD Leaderboard stock Tesla rose 1.7% on Tuesday, pulling away from a buy range after a double bottom buy point of 207.79. On Tuesday, the shares closed down 33% from their 52-week high.
TSLA stock appeared to be adding to Tuesday’s gains, racing up 3% Wednesday morning. Stocks are now making a fourth consecutive weekly advance, and are on track to hit a new 2023 high.
Dow Jones leaders: Apple and Microsoft
Among Dow Jones stocks, Apple shares extended losses on Monday, down 0.2% on Tuesday. Shares hit an all-time high of 184.95 on Monday. The stock continues to settle sharply above 157.38 buying points, and is outside the buying range that reached 165.35. AAPL shares were down 0.2% in premarket trading Wednesday.
Microsoft shares snapped a three-day winning streak on Tuesday, falling 0.7%. The stock is off Monday’s 52-week high of 338.56. The shares hit a 20%-25% profit zone from 276.76 flat-base buy points, so investors can take at least some profit here. On Wednesday 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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