The Dow Jones Industrial Average surged 450 points Thursday, as Treasury yields slid toward a third straight decline. Apple stock rebounded from Wednesday’s losses. Three top stocks to buy and watch are Advanced Micro Devices, CrowdStrike and Palo Alto Networks.
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Among the Dow Jones leaders, Apple (AAPL) rallied 1.3% Thursday, while Microsoft (MSFT) moved up 1.2% in today’s stock market. Merck (MRK) and Salesforce.com (CRM) eyed new buy points in the current stock market correction. UnitedHealth Group (UNH) briefly surged past a new buy point on strong earnings results.
Tesla (TSLA) gained 0.7% Thursday, on pace to extend a win streak to four sessions.
Among companies reporting earnings, Bank of America (BAC), Citigroup (C) and Wells Fargo (WFC) reported strong earnings results ahead of the market open.
Among the top stocks to watch, Advanced Micro Devices (AMD), CrowdStrike (CRWD) and Palo Alto Networks (PANW) are in or near new buy zones, although the market outlook, for now, remains “in correction.”
Advanced Micro Devices, Microsoft and Tesla are IBD Leaderboard stocks. AMD was Wednesday’s IBD Stock Of The Day. Palo Alto Networks is an IBD SwingTrader stock. Microsoft and Salesforce featured in this week’s Stocks Near A Buy Zone column.
Dow Jones Today: Treasury Yields Fall
The Dow Jones Industrial Average moved up 1.3%, while S&P 500 rose 1.4%. The Nasdaq composite jumped 1.35% in morning trade.
U.S. Stock Market Today Overview |
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|---|---|---|---|---|
| Index | Symbol | Price | Gain/Loss | % Change |
| Dow Jones | (0DJIA) | 34804.55 | +426.74 | +1.24 |
| S&P 500 | (0S&P5) | 4419.93 | +56.13 | +1.29 |
| Nasdaq | (0NDQC ) | 14771.99 | +200.35 | +1.37 |
| Russell 2000 | (IWM) | 225.37 | +2.80 | +1.26 |
| IBD 50 | (FFTY) | 48.45 | +0.58 | +1.21 |
Last Update: 10:42 AM ET 10/14/2021 |
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The 10-year Treasury yield dipped 1 basis point Thursday morning to below 1.53%, putting yields on pace for a third straight decline. The yield’s recent highs topped out above 1.6% on Friday.
Among exchange traded funds, Innovator IBD 50 (FFTY) gained 1.6% Thursday. Nasdaq 100 tracker Invesco QQQ Trust (QQQ) rose 1.5%. And the SPDR S&P 500 ETF (SPY) ascended 1.2%.
Stock Market Rally Attempt
The Nasdaq and S&P 500 continue to hold above last week’s correction lows, as both snapped three-day losing streaks on Wednesday. Meanwhile, the Dow Jones Industrial Average may be setting up for another test of its 50-day moving average where it has previously found stout resistance.
On Wednesday, The Big Picture commented, “IBD’s stock market outlook has been in “correction” all this month. While energy, financials and a few other select industries are outperforming, the general market is directionless. With the stock market unsure of its next steps, staying in cash makes sense as a defensive mechanism.”
Dow Jones Earnings: UnitedHealth
UnitedHealth surged over 6% Thursday morning after the company topped Wall Street earnings estimates ahead of the market open.
UNH stock is tracing a flat base with a 431.46 buy point, according…
Read More: Dow Jones Surges As Yields Fall; 3 Top Growth Stocks To Buy And Watch