Dow Jones falls, tech stocks rally as yields fall ahead of Powell’s speech; Apple shares jump despite delays

The Dow Jones Industrial Average fell briefly more than 100 points on Thursday as Treasury yields fell ahead of Fed Chairman Powell’s comments. Apple rebounded despite reports of production delays and is testing a key level, while Tesla shares soared in morning trading.

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Among the leaders of the Dow Jones Apple (AAPL) jumped more than 1.5% on Thursday, while Microsoft MSFT shares are up 1.6% in today’s stock market. Boeing (BA) is back in buying range after this week’s losses.

Tesla (TSLA) rose more than 2% on Thursday, expecting a rebound after falling 3% on Wednesday. FANG Leaders Alphabet (GOOGL) and Facebook (FB) is in a buying range after breaks this week.

Among the best stocks to look out for are Nvidia (NVDA) and Yeti (YETI) are close to new points of purchase.

Alphabet, Boeing and Microsoft are among the IBD leaders. Nvidia featured in the “Stocks Close to Buy” column this week. Alphabet and Microsoft were in talks on Monday at IBD Live.

Dow Jones Today: Powell Speech, Treasury Yields

The Dow Jones Industrial Average fell 0.1% and the S&P 500 rose 0.3%. High-tech composite Nasdaq added 0.8% in morning trading.

The 10-year Treasury yield fell to 1.63% early Thursday after fixing 1.65% on Wednesday, according to the CBOE, for the third day in a row.

Fed Chairman Jerome Powell will join the International Monetary Fund’s debate on the global economy, starting at 12:00 pm ET.

Among ETFs, the Innovator IBD 50 (FFTY) fell 0.3% on Thursday. The Nasdaq 100 Invesco QQQ Trust ETF (QQQ) is up 0.8%. Meanwhile, the SPDR S&P 500 ETF (SPY) Index added 0.2%.

Stock Market Rally: Dow, S&P at Record Highs

Amid the current rally in the stock market, the Dow Jones Industrial Average is near record highs, and the S&P 500 rose to a new high on Thursday.

Meanwhile, the high-tech Nasdaq recovered its key 50-day moving average last week and will soon complete a two-day losing streak.

Big Picture commented on Wednesday, “Neither the Nasdaq nor the S&P 500 seem to be overextended. The S&P 500 is about 4.5% above its 50-day moving average. This is mostly within the range of moves above the 50-day line from the November high, which is another sign that the S&P 500 is moving forward. “

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Promotions in purchase zones: Alphabet, Facebook

IBD MarketSmith charts show that IBD Leaderboard Alphabet is breaking through a new flat base buy point at 2145.24. The stock is at the top of the 5% buy zone, which climbs to 2,252.50 amid a 0.5% gain on Thursday.

According to a Leaderboard comment, “Alphabet held out better than other large-cap companies when the sector fell. Support on the 21-day line helped the stock rally to new highs. The stock also found support on the 50-day line. The last base was the second stage, which is positive. “

Facebook, the leader of FANG shares, is trading just above the buy point of the 299.81 cup with a handle. Facebook shares fell 0.4% on Thursday and are still in the buying range.

Tech Titans Lead while Rally is suspended; Tesla returns to key support

Promotions to buy and watch: Nvidia, Yeti

Graphics chip maker Nvidia continues to push up the right side of the cup base, offering 615 buy points. Look for a potential handle to suggest a better-risk entry.

Nvidia shares were up about 2% on Thursday, hoping to add to the 2% gain on Wednesday.

According to the IBD Stock Checkup, Nvidia shares are performing at a solid 92 out of an ideal 99 IBD Composite Rating. The IBD Composite Rating helps investors easily assess the quality of a stock’s fundamentals and technical performance.

Daily IBD shares on Tuesday, Yeti, are trying to break the 76.87 buy point in the handle double bottom. The stock rose more than 1% on Thursday morning and is close to its buy point.

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Tesla Stock

Tesla shares rose more than 2% on Thursday morning. Tesla shares are following their 10-week line, which is a key resistance level.

Tesla could form a new base, but it is too early for a new optimal-risk buying point.

On February 22, Tesla broke the key 10-week moving average line, the critical support level. Tesla shares hit an all-time high of 900.40 on January 25 after rising 93% from 466 buying points in the order book.

Dow Jones Leaders: Apple, Microsoft

Among top Dow Jones stocks, Apple jumped 1.6% on Thursday to extend its five-day streak of gains. According to Japanese news service Nikkei, the company is delaying production of some MacBooks and iPads due to a global chip shortage.

Apple stock is recovering from its 40-week line and trying to get back its 10-week line. On February 18, Apple stock triggered a 7-8% sell-on-loss rule when they fell more than 7% below their buy point of 138.89 in the order book.

Software giant Microsoft added 1.6% in Thursday morning trading. Microsoft has broken the buy point at 246.23 on a flat basis and is in a buying range that tops 258.54.

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

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