Stock Market Today: Dow Jones declines ahead of Powell's speech; Intel suffers a loss of $7 billion – Business News (Trending Perfect)


The Dow Jones Industrial Average fell on Wednesday as Wall Street digested payroll data from ADP and waited for another speech from Federal Reserve Chairman Jerome Powell. while, Intel Corporation (you are K) on the stock market today after the company said its chip manufacturing plants would lose $7 billion in 2023.


The Dow Jones Industrial Average was down less than 0.1% in morning trading, while the S&P 500 was down 0.1%. The technology-focused Nasdaq Composite lost 0.3% after the opening bell.

The yield on 10-year Treasury bonds rose to 4.41%. Furthermore, oil prices added to Tuesday's gains, with WTI futures trading around $85.90 per barrel.

Among the US exchange-traded funds is the Nasdaq 100 Tracker Invesco QQQ Trust ETF (QQQ) fell 0.4%, while the SPDR S&P 500 ETF fell (spy) was 0.2%.

Intel shares fell 6.7% on Wednesday morning after… The company revealed A loss of $7 billion in its chip manufacturing operations for 2023, widening from a loss of $5.2 billion in 2022. Revenue from that business, known as foundry operations, fell 37% in 2023 to $18.9 billion.

Stock Market Today: Jobs Data, Powell Speech

Before the stock market opened on Wednesday, employment data from ADP showed March job growth of 184,000, above estimates of 150,000, and up from February's reading of 140,000.

Later today, Fed Chairman Powell will provide comments on the economic outlook at the Stanford Business, Government and Society Forum in California. He is expected to deliver his speech at 12:10 p.m. ET.

Includes key earnings reports Cal who? (calm) And Dave and Buster (He plays).

Cal-Maine shares jumped more than 5%, while Dave & Buster's rose nearly 8% in morning trading.

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Dow Jones Falls

On Tuesday, the Dow Jones Industrial Average fell 1%, and the S&P 500 fell 0.7%. The Nasdaq Composite Index, which is dominated by technology stocks, lost 1%.

“Despite a late attempt to regain some lost ground, the S&P 500 held above its 21-day EMA. The Nasdaq also closed just above it after falling below that level for most of the day,” the Big Picture column commented on Tuesday.

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Top stocks to watch in today's stock market

Google Parents the alphabet (Google), Arista Networks (network), Kings Project (DKNG) And Service now (now) – in addition to the components of the Dow Jones Index Disney (Dis), IBM (IBM) And Verizon Communications (VZ) – is among the top companies to watch in the stock market today.

The service has now appeared in the column of stocks near the buy zone.

An essential resource for your daily escape IBD MarketSurge Check out today list. He appears Market growth 250 Stocks beyond new buy points, like Google. Meanwhile, MarketSurge's “Near Pivot” list shows stocks that are approaching buy points in the bases.

To find more stock ideas, check out lists of IBD stocks like… Bahraini dinar 50, Large cap 20 The stock is near the buy zone. These features identify bullish patterns and buy points and are available to check every day.

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Dow Jones: Disney, IBM, Verizon

Disney — the strongest performer on the Dow Jones in the first quarter — extended beyond a large cup-with-handle base buy point of 112.92, according to IBD MarketSurge chart analysis. Shares moved out of buy territory, with a 1.1% gain on Tuesday. The company faces a crucial shareholder vote at its annual meeting on Wednesday. Shares were down 0.4% on Wednesday morning.

IBM stock remains below its steady buy point of 196.90, with a 0.5% decline on Tuesday. Stocks are trying to find support around the 50-day line. IBM shares fell on Wednesday.

Telecom giant Verizon is building a cup base with a 43.21 entry, as the stock bounces higher from its 50-day line. Verizon shares rose 0.3% Wednesday morning.

4 Higher Growth Stocks to Watch in Stock market pool

Stock Market Today: Google is close to a breakout

Alphabet is pushing past a 153.78 buy point during the consolidation, even as the stock lost 0.6% on Tuesday. Google stock lost 0.6% on Wednesday.

Arista shares once again gave up a firm buy point of 292.66, according to Marketsorg charts, with a 3% drop on Tuesday. On Wednesday, the stock rose on morning action.

Last week, DraftKings fell below a 46.52 buy point during a brief consolidation. The sports betting giant fell below that entry on Tuesday, falling 0.5%. DraftKings stock was down 0.9% on Wednesday morning.

Finally, ServiceNow found resistance at the 50-day line on Tuesday, falling 1.5%. Shares are building a flat base with entry at 815.32. The stock lost 0.6% on Wednesday.

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Stocks to watch

These are four stocks that are in or near buy zones in the stock market today.

Company Name Code Correct point of purchase Point of purchase type
Disney (Dis) 112.92 Cup with handle
Arista Networks (network) 292.66 Flat base
Kings Project (DKNG) 45.62 Merger
Service now (now) 815.32 Flat base
Source: IBD data as of April 1, 2024

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The Seven Great Stocks: Nvidia and Tesla

Among the seven great stocks, Nvidia (NVDA) And Tesla (TSLA) and decreased by 0.6% and 1.7%, respectively, in morning trading on Wednesday.

On Tuesday, Nvidia snapped a two-day streak of gains, falling 1%. The artificial intelligence giant is an IBD Leaderboard stock.

Tesla stock fell 4.9% on Tuesday after the company failed to meet its first-quarter delivery targets. Stocks are back near their recent lows.

Dow Jones leaders: Apple, Microsoft

Among the Dow Jones stocks in Magnificent Seven, apple (Camel) And Microsoft (MSFT) traded mixed after the stock market opened on Wednesday.

Apple stock fell 0.7% on Tuesday, returning to recent lows. Shares remain sharply below their long-term 200-day line. Stocks rose Wednesday morning.

Microsoft shares fell 0.7% on Tuesday, still holding above its 50-day line. The software giant has reached new highs. The stock was down 0.4% early Wednesday.

Be sure to follow Scott Lehtonen on X, formerly known as Twitter, at @IBD_SLehtonen To learn more about growth stocks, the Dow Jones Industrial Average, and today's stock market.

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