Dow Jones Futures Dive on Strong Jobs Report; Tesla Drops After Half Disclosure

Dow Jones futures fell more than 400 points on Friday morning after a better-than-expected jobs report. Tesla shares fell after the delivery of the first all-electric semi-trailer truck.


Business Report, Earnings Carriers

The Labor Department’s November jobs report was released at 8:30 a.m. ET. The US economy added 263,000 jobs in November, beating estimates of 200,000. The unemployment rate, which met Econoday estimates, remained steady at 3.7%.

Includes companies that report earnings Marvell (MRVL), Ulta Beauty (ULTA), Veeva Systems (VEEV) and Zscaler (ZS).

Marvell shares fell nearly 5% in premarket trading, while Ulta shares rose more than 1%. VEEV shares fell 3.4% and Zscaler fell 10% on Friday morning.

The electric car giant Tesla ( TSLA ) was down 2.1% on Friday morning. Dow Jones technology leaders apple (AAPL) and Microsoft ( MSFT ) fell sharply ahead of today’s stock market open.

IBD Stock Leaderboard Arista Networks (ANET), Celsius (CELH), Chubb (CB) and Transparent semiconductors (LSCC) – also Dow Jones names Boeing (BA), Caterpillar (CAT) and Chevron (CVX) — is among the best stocks to buy and watch.

Arista Networks is an IBD Leaderboard fund and recently IBD Stockholder of the Day. Boeing is an IBD SwingTrader stock and was one of four leaders featured in this week’s Stocks Near Buy Zone column. Celsius was an IBD 50 Stocks to Watch pick on Monday.

IBD’s latest MarketDiem newsletter delivers actionable ideas for stocks, options and cryptocurrencies straight to your inbox.

Dow Jones today: Oil prices, Treasury yields

Dow Jones futures were down 1.2% and S&P 500 futures were down 1.5% ahead of Friday’s opening bell. Technically-heavy Nasdaq 100 futures fell 2.2% in morning trade.

Among exchange-traded funds, Nasdaq 100 tracker Invesco QQQ Trust ( QQQ ) was down 2.2% early Friday, while the SPDR S&P 500 ETF ( SPY ) was down 1.5%.

The 10-year Treasury yield rose to 3.62% on Friday morning after better-than-expected jobs data. On Thursday, the 10-year Treasury yield fell to 3.52%, its lowest level since Sept. 21, as inflationary pressures eased. Meanwhile, investors are placing odds of 72% at 50 basis points, up from 82% a day earlier. point rate hike at this month’s Federal Reserve meeting, according to the CME FedWatch Tool.

Meanwhile, U.S. oil prices added nearly 1% after hitting their lowest level since December 2021 on Monday, on pace for a weekly advance after three weeks of declines. West Texas Intermediate futures traded just below $82 a barrel.

Stock market rally

The stock market moved strongly on Thursday as the tech-heavy Nasdaq composite rose 4.4%. The Dow Jones Industrial Average rose 2.2% and the S&P 500 rose 3.1%.

On Thursday, The Big Picture commented, “Five below (BEŞ) shares rose more than 16% to reach the 20%-25% profit zone from the 149.99 buy point. It’s important to make at least some profit to compensate for some inevitable setbacks.”

Now is an important time to read IBD’s The Big Picture column amid continued stock market volatility.

Five Dow Jones Stocks to Buy and Watch Now

Dow Jones Stocks to Buy and Watch: Boeing, Caterpillar, Chevron

Aerospace giant Boeing fell 1.7% on Thursday, still above the cup base’s 173.95 buy point. 5% buy area rises to 182.65. Boeing shares rose on Friday.

Dow Jones member Caterpillar just shy of 238 buy points in its cup base, After falling 0.3% on Thursday, according to IBD MarketSmith model recognition. CAT shares fell slightly on Friday.

The CAT fund has a solid 94 out of a perfect 99 IBD Composite Rating according to the IBD Fund Checker.

Energy giant Chevron lost 0.45% on Thursday, finishing a touch below a 182.50 buy point on a consolidation base. CVX shares were flat on Friday morning as oil prices extended recent gains.

4 Best Growth Stocks to Watch on Current Stock Market Rally

Best stocks to buy and watch: Arista, Celsius, Chubb, Lattice

IBD Leaderboard stock Arista Networks broke out of buy range above the 132.97 buy point on Thursday’s 0.35% gain. ANET shares fell almost 1% on Friday.

Energy drink maker Celsius rose 1.8% on Thursday for a second straight day. Shares are just 4% away from the cup base’s 118.29 buy point. The stock was inactive on Friday.

Chubb remained above the 216.10 buy point on Thursday after a session loss of 0.6%. The 5% buy area is at 226.91. The insurance giant traded unchanged on Friday morning.

According to IBD MarketSmith chart analysis, Lattice Semiconductors is in a buy range past the 70.25 buy point. The network’s shares traded flat on Friday.

Join IBD’s experts as they analyze the leading stocks in the current stock rally on IBD Live

Tesla shares

Tesla shares traded flat on Thursday, taking a break from Wednesday’s rally and near their recent highs. On Nov. 22, the stock hit a 52-week low of 166.19. Shares are about 52% below their 52-week highs and sharply below their 50- and 200-day moving averages.

Shares were down more than 2% Friday morning.

On Thursday, the electric vehicle giant unveiled the long-awaited Semi, an 18-wheel long-distance electric truck since it was first announced five years ago. PepsiCo (PEP) received its first trucks during a delivery event at Tesla’s Nevada factory.

Dow Jones Leaders: Apple, Microsoft

Among the Dow Jones stocks, Apple shares rose 0.2% on Thursday, pushing further above their recently captured 50-day line. The stock is down nearly 20% from its 52-week high. Apple shares fell 2% on Friday.

Microsoft fell 0.2% on Wednesday after shares hit their highest level since Sept. 13. The software giant remains about 26% below its 52-week high. Microsoft shares fell 1.9% Friday morning.

Be sure to follow Scott Lehtonen on Twitter @IBD_SLehtonen For more information on growth stocks and the Dow Jones Industrial Average.


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