The Dow Jones rose strongly with the S&P 500 and Nasdaq on Friday morning. Crude oil has risen moderately in recent days due to fears of a future and a treasury yields recession.
Chinese stocks listed in the United States continued to perform well Li Auto (LI), Xpeng (XPEV) And Neo (NIO) Running too much. Electric vehicle giant BYD (I will do) Is at the peak of a breakout. In the meantime, Ali Baba (Baba) And பிந்துவோடுவோ (PDD) Was coming amid growing optimism about China’s economy after painful Govt lockdowns.
Dow Jones today
The Dow Jones Industrial Average rose 0.9%. The S&P 500 was up 1.1% and the Nasdaq was up 1.55%.
The 10-year treasury dividend rose to 3.09% from 3.07% after falling 24 basis points on Wednesday and Thursday.
Crude oil prices rose more than 1%, pushing West Texas’ median futures above $ 105 a barrel. Oil is heading for its first monthly decline since November.
After falling more than 5% on Thursday, the price of copper was at a 16-month low.
Stock Market Thursday Rally
The Dow Jones Industrial Average rose 0.6% on Thursday Stock market trading. The S&P 500 index was up 0.95%.
The Nasdaq compound rose 1.6%, making strong gains on the 4th day of its rally effort. But according to IBD data, Nasdaq was lower than the previous session. Not so The following day To confirm the new rally initiative.
Even with the S&P 500 and Dow Jones gaining this week, the Nasdaq was only able to see above its 10-day moving average. All are below their 21-day moving averages and below their 50-day lines.
Zendesk shares rose early on Friday after cybersecurity companies agreed to buy $ 10.2 billion and $ 77.50 billion worth of shares in private equity firms Hellman & Friedman and Bermira.
The stock was up 29% at 75. But ZEN shares rose more than 50% on acquisition buzz.
Zendesk shares were trading at a two-year low.
There have been several cyber security purchases over the past year.
Meanwhile, the WSJ reports that Merck Biotech has sped up negotiations to buy Seagan. SGEN stock rose 1%, higher than the freemarket rise, based on reports from last week’s talks. Seagan ended Thursday with an estimated $ 32 billion.
Merck rose a section.
Li Auto stock continued its powerful flow in anticipation of the upcoming new model and extended China EV subsidies. LI share rose 3%. On Thursday, Li Auto shares rose 6.6% to 39.24, crossing the 37.55 buying point from the longest, deepest consolidation. But LI shares extended slightly from the buying point, closing 54% above their 50-day moving average.
Xpeng shares rose 4% and Neo shares rose 2%, both moving towards their 200-day moving average.
Shares of BYD fell 48% below the buy point of 39.81 from the base in a deep cup-with-hand. MarketSmith analysis.
Meanwhile, Alibaba shares rose 2.5%, moving towards its long flexible 200-day line. Pinduoduo stock is down in its 200-day period.
Tesla shares are up 2% above its 21-day tax. It is deep in a long, confusing integration.
Bloomberg has announced that Tesla will halt the launch of the Model Y at its Shanghai plant for two weeks in early July. From July 18 its Model 3 line will close for 20 days. After increasing the capacity of the plant, the production capacity of the Tesla Shanghai Model Y will increase from 11,000 to 14,000 per week. Model 3 capacity will increase from 5,500 to 7,700 per week.
Meanwhile, Tesla is re-introducing the upgraded automated pilot offer for $ 6,000. Its features range from standard autopilot to $ 12,000 full self-driving.
According to The big picture Every day the direction of the market and the leading stocks and sectors must be consistent.
Follow Ed Carson on Twitter @IBD_ECarson For stock market updates and more.
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