The major indexes rose slightly as Fed minutes held few surprises. What a Recession Could Mean for Auto SalesRecent news from Ford has clues to how a potential recession could impact the auto industry. Receive zoom stock price full access to our market insights, commentary, newsletters, breaking news alerts, and more. ReadThe Big Pictureevery day to stay in sync with the market direction and leading stocks and sectors.
Tesla continues to lead in all-electric "BEV" sales, though that gap has narrowed considerably over the past year. BYD stock rose modestly within a buy zone while Li Auto fell DotBig back into range. Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day.
- While a number of medicals and a handful of other stocks are acting well, even they can be prone to notable shakeouts.
- December still marks the likely end of Fed rate hikes.
- Cathie Wood’s Ark Invest also owns some BYD stock.
- What a Recession Could Mean for Auto SalesRecent news from Ford has clues to how a potential recession could impact the auto industry.
- Tesla stock is a major holding across Ark Invest’s ETFs.
- The Fed minutes mentioned "inflation" 90 times but not "recession" even once.
BYD stock rose 1.1% to 40.55, after briefly testing its 39.81 buy point from a deep cup-with-handle base for a fifth straight session intraday. On Sunday, BYD reported https://dotbig.com/markets/stocks/ZM/ June sales of 134,036 EVs and plug-in hybrids, up 224% vs. a year earlier. For the second quarter, BYD sales topped Tesla deliveries by more than 100,000 vehicles.
Bloomberg Daybreak Asia Bloomberg Daybreak Asia. Live from New York and Hong Kong, bringing you the essential stories from the close of the U.S. markets to the open of trading across Asia. IBD Videos Get market updates, educational videos, webinars, and stock analysis. More generally, the Fed minutes offered no real surprises https://dotbig.com/ and underscored the big shift in economic conditions in the past three weeks. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology.
But Fed chief Jerome Powell already said as much after the meeting. Get exclusive IBD analysis and actionable news daily. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. KELLEY BLUE BOOK New car owners are experiencing more problems in the first 90 days of ownership than ever before. Power Initial Quality Study, but the headline isn’t the winner this year.
The stock market rally is under pressure, with the major indexes still facing a lot of key resistance levels. While a number of medicals and a handful of other stocks are acting well, even they can be prone to notable shakeouts. The Nasdaq composite moved above its 21-day moving average on Wednesday, but the S&P 500 and Dow Jones hit resistance at DotBig that short-term average. All three major indexes are now back above the lows of their June 24 follow-through days. Tumbling below their FTDs last week pushed the market rally to "under pressure," where it remains. The stock market rally added to Tuesday’s rebound from intraday lows, but the major indexes still seemed to searching for direction.
Medical stocks remain the clear leaders right now, including IBD 50 members Evolent Health , McKesson , UnitedHealth , Harmony Biosciences and AstraZeneca . While the major indexes rose Wednesday, breadth DotBig was weak, with losers outnumbering winners easily on the Nasdaq and NYSE. Among the best ETFs, the Innovator IBD 50 ETF was flat, while the Innovator IBD Breakout Opportunities ETF gained 1%.
U.S. crude oil prices fell 1% to $98.53 a barrel, well off morning lows but after diving 8.2% on Tuesday. Gasoline futures, which topped $4 a gallon just a few weeks ago, sank 4% to $3.20. Prices at the pump have been falling for the past three weeks and are set to drop significantly in the next few weeks. The Dow Jones Industrial Average rose 0.2% in Wednesday’s stock market trading.
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7 Best Ways to Reduce Your Tax Bill Next Year – CPA TipsMaxing out your 401k is just one tax tactic that you can take now to reduce your tax zoom stock price today bill later. Tesla Rival Rivian Delivers Good NewsThe EV maker is increasing production rates in the midst of disruption of supply chains.
Treasury yields rebounded, still flashing a recession warning. Good news on inflation and Fed rate hikes, including tumbling commodity prices and easing job markets, are bad news for a possible recession. So markets don’t quite know how to handle economic data. The stock market rally moved between slim gains or losses for most of Wednesday’s trading. ET release of Fed meeting minutes, but then pared the advance in the closing minutes.
The iShares Expanded Tech-Software Sector ETF edged up 0.1%, with MSFT stock a top holding. The June ISM nonmanufacturing index dipped to a two-year low but topped views and still pointed to solid https://dotbig.com/ growth. The jobs subindex fell to 47.4 from 50.2, below the break-even 50 level. Policymakers saw a late July hike of 50 or 75 basis points as likely, according to the Fed meeting minutes.
Dow Jones futures were little changed overnight, along with S&P 500 futures and Nasdaq futures. The stock https://www.usbank.com/index.html market rally rose slightly Wednesday in an up-and-down session as hawkish Fed minutes held few surprises.