Stock Market Today With IBD

The major indexes tried to bounce Friday, but closed near weekly lows, snapping a nine-week win streak. The S&P 500 is trying to hold its 21-day line. Nvidia and Spotify showed bullish action, while PulteGroup was resilient despite rebounding Treasury yields. Learn more about your ad choices. Visit megaphone.fm/adchoices

Interest rates rose as weekly jobless claims fell more than expected, while private employers added 164,000 jobs, much more than expected. Merck and Amgen outperformed in the Dow Jones. Financial stocks also did well. Apollo Management and Novo Nordisk gave buy signals, while Fifth Third Bancorp continues to show strength and support ahead of a busy week of earnings reports in the financial sector. Learn more about your ad choices. Visit megaphone.fm/adchoices

Declining stocks beat advancers on the Nasdaq by about 3 to 1. The Nasdaq made a stand at its 21-day line Tuesday but closed below the support level. The 10-year Treasury yield reversed lower after hitting 4%. Blackstone is close to retesting a prior entry, while Shopify and Ryanair are near first tests of their 10-week lines. Learn more about your ad choices. Visit megaphone.fm/adchoices

The podcast discusses the market action on January 2nd, including the decline of tech leaders Celsius, Eli Lilly, and Microsoft. They analyze the NASDAQ's movement, potential rotation to defensive names, and the performance of US oil fund and healthcare stocks. The hosts also discuss the performance and analysis of Celsius and Eli Lilly, providing valuable insights for investors.

The major indexes closed out the year with their ninth straight weekly gains, capping the Nasdaq’s best year since 2003. Some more buying opportunities are developing, with Nvidia near a traditional buy point, MercadoLibre consolidating after a recent run and Celsius flirting with an aggressive entry.  Learn more about your ad choices. Visit megaphone.fm/adchoices

The Russell 2000 halted a four-session win streak, but the small-cap index is still on pace for its 7th straight weekly gain. The Nasdaq and S&P 500 are working on nine straight up weeks, resulting in a frothy market. Two enterprise software stocks – Freshworks and UiPath – have the potential to be leaders in 2024, while China-based PDD is still showing strength after gapping up on earnings in late November.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Stocks traded near the flatline for most of Wednesday’s session, with advancers having a slight edge over decliners on both exchanges. With only two trading days left in 2023, the S&P 500 is closing in on an all-time high. Tesla gave an early buy signal ahead of Q4 delivery data; Vertex is holding gains well, and recent IPO Birkenstock isn’t far from an all-time high after an inauspicious debut in October. Learn more about your ad choices. Visit megaphone.fm/adchoices

Stocks continued to advance following the Christmas holiday weekend. The S&P 500 is near all-time highs, but there are reasons to be cautious about new buys before the new year. AppLovin and CBOE are consolidating, while Netflix is holding in a buy zone. Learn more about your ad choices. Visit megaphone.fm/adchoices

After Wednesday’s sell-off turned out to be a jump scare vs. a horror show, the major indexes rebounded for their eighth straight weekly gains. The Nasdaq is looking extended, along with many leaders. Nvidia has a new flat base, while Samsara is trading tightly and steel pipe play Tenaris flirts with buy signals. Learn more about your ad choices. Visit megaphone.fm/adchoices

Stocks rallied back after sell-off; Carnival reports strong earnings; Freeport-McMoRan near a buy point; Zillow stock under accumulation