Dow Jones Futures: Treasury Yields Rise Ahead Of Key Jobs Report For

Dow Jones futures tilted higher Friday morning, along with S&P 500 futures and Nasdaq futures, while Treasury yields continued to rise with the September jobs report on tap.

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The stock market rally attempt had a solid Thursday, but the major indexes backed off key levels while volume declined.

Bottom line: It remains a stock market correction. Friday could be a pivotal day, with the jobs report driving the market action.

Sea Limited (SE), Ford Motor (F), Advanced Micro Devices (AMD) and Zscaler (ZS) were among a slew of stocks flashing buy signals. SE stock, AMD stock and ZS stock broke trend lines as they rebounded from their 50-day lines. Ford stock cleared a handle that was fractionally too low to be considered an official buy point.

Investors also should keep a close eye on Microsoft stock, Nvidia (NVDA) and Google parent Alphabet (GOOGL). These three institutional-quality stocks all moved back to their 50-day lines as they work on bases. If they can push higher, that would offer early entries. If they get turned away, they could be possible shorts.

Meanwhile, Tesla (TSLA) is holding its annual shareholder meeting Thursday afternoon at its new factory near Austin, Texas. Elon Musk confirmed that there will be no Tesla Cybertruck or other new models over the next year. He also indicated that 4680 battery cells are not yet ready.

Tesla stock were steady Friday morning after settling at its best close in nearly eight months.

The Tesla shareholder meeting comes as recent news from General Motors (GM), Lucid Motors (LCID), Rivian Automotive suggest they could erode Tesla’s enviable status, while Ford also is stepping up in electric vehicles. In addition to Ford, GM flashed an early entry from its 200-day line. LCID stock is working on a handle in a bottoming base.

Tesla stock is on IBD Leaderboard, along with Microsoft (MSFT), Google, AMD and Nvidia stock. AMD stock is on SwingTrader. Microsoft and Google stock are on IBD Long-Term Leaders. Google and ZS stock are on the IBD 50, which has a number of actionable names right now.

The video embedded in this article analyzed AMD stock, Zscaler and eBay (EBAY), and reviewed an interesting session.

Best Growth Stocks To Buy And Watch

Jobs Report

Economists expect the September jobs report to show a nonfarm payrolls gain of 475,000, with the jobless rate dipping to 5.1%. That should be enough for the Federal Reserve to formally agree on scaling back bond purchases at the early November policy meeting.

Investors will want to see a pickup in hiring from August’s 235,000 jobs to show that the economic recovery is on track. But too-fast hiring could send Treasury yields sharply higher and raise expectations for a faster Fed bond taper.

Dow Jones Futures Today

Dow Jones futures rose 0.1% vs. fair value. S&P 500 futures advanced less than 0.1% and Nasdaq 100 futures climbed 0.1%.

The 10-year Treasury yield extended Thursday’s gains overnight, briefly hitting 1.60%. The 10-year yield is now up 1…