Dow futures fell overnight, along with S&P 500 futures and Nasdaq futures. The stock market rebounded strongly on Thursday from heavy losses, led by technology companies such as Palo Alto shares. The United States and Europe announced tougher sanctions against Russia for its all-out Ukrainian invasion, but the sanctions were not as severe as had been feared.
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The Nasdaq and S&P 500 rose from solid gains, with the Dow Jones recovering to close slightly higher. This marks the beginning of an attempt to rally the stock market. But it is not a green light for investors.
Palo Alto Networks (bano) and other cyber security stocks, including fortinet (FTNT) datadog (DDOG) and ZS stock. But Zscaler (ZS) overnight after earnings are reported.
at the same time, Microsoft (MSFT) rebounded 5.1% after cutting the bottom of its base. an Apple (AAPL) And the Expedia (EXPEBoth rose from major support, with Apple closing 1.5% higher and Expedia trimming its loss to 2.5%. Microsoft stays below the 200-day streak while Apple’s stock is under 50 days, so it’s not enforceable. But EXPE stock is in buy territory.
Banks were among the biggest losers c. B. Morgan Chase (JPM) And the American bank (buckamong the losers. Sanctions against Russian banks will have a ripple effect on financial statements around the world. Fears of slowing economic growth and flattening yield curves – as the Federal Reserve moves closer to starting to raise interest rates – have weighed on everyone from Wall Street giants like JPMorgan to foreign banks and regional lenders. While shares of JPM and other financial institutions rallied away from intraday lows, the charts have weakened dangerously in recent weeks.
Gold, a haven during the recent sell-off, reversed lower on Thursday after rising 3% overnight. Newmont Mining (syllabus), which narrowly edged out views early Thursday, to 70.37 shortly after the opening. But NEM stock reversed, closing 2.2% lower at 66.72, briefly trimming 65.59 buying points.
Microsoft stock and Expedia in the works IBD Leaderboard. Microsoft shares and FTNT are Long-term leaders of IBD.
The video included in this article discusses Thursday’s wild moves, with an analysis of JPMorgan stock, NEM stock, and PANW stocks.
Dow jones futures contracts today
Dow Jones futures are down 0.5% against fair value. S&P 500 futures were down 0.7% and Nasdaq 100 futures were down 1.1%.
Crude oil futures are up more than 2%.
The 10-year Treasury yield fell one basis point to 1.96%.
Remember to work overnight in Dow Jones futures contracts and elsewhere that does not necessarily translate into actual circulation in the next regular session Stock market session.
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Thursday stock market
The stock market opened sharply lower on Thursday as Russia launched its all-out invasion of Ukraine, but rebounded to close higher.
The Dow Jones Industrial Average rose 0.3% on Thursday stock market trading, with MSFT stock helping offset JPMorgan and other drawdowns. The S&P 500 jumped 1.5%. The Nasdaq Composite Index is up 3.3%. The small Russell 2000 index rose 2.6% after cutting its January lows near the opening.
US crude oil prices rose 0.8% to $92.81 a barrel after breaking above the $100 level overnight.
The 10-year Treasury yield fell one basis point to 1.97%, far from early lows of 1.89%.
ETFs
between the Best ETFsThe Innovator IBD 50 ETF (fifty) up 2.35%, while the Innovator IBD Breakout Opportunities ETF (fit) rose 0.1%. iShares Expanded Technology and Software Fund (ETF)IGV) rose by 6.1%. Microsoft stock is a huge component of IGV, while Palo Alto, Fortinet, DDOG, and ZS stocks are also holdings. VanEck Vectors Semiconductor Corporation (SMH) gained 3.4%.
SPDR S&P Metals & Mining ETF (XME) sank 1.2%, with NEM stock a key component. Global Infrastructure Development Fund X US (cradle) rose 1.5%. US Global Gates Foundation (ETF)Planes) rose 0.3%. SPDR S&P Homebuilders ETF (XHB) rose by 2.6%. SPDR Specific Energy Fund (SPDR ETF)XLE) sank 0.8%. SPDR Financial Choice Fund (SPDR)XLF) fell 1.2%, with JPMorgan and BofA shares both major holdings. SPDR Healthcare Sector Selection Fund (XLV) rose 0.4%
Shares reflect more speculative stories, the ARK Innovation ETF (see you) and the ARK Genomics ETF (ARKG) Both rebounded 7.8% after hitting a 20-month low on Wednesday.
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cyber security inventory
While technology and growth names in general rebounded on Thursday, with programs among the leaders, the cybersecurity plays were particularly hot. Russia has used massive cybersecurity attacks against Ukraine on its way to a physical invasion. Investors are betting that cybersecurity will be at the forefront of governments and companies.
Palo Alto stock rose 13% to 539.94 in huge trading volumes. It is bouncing back above the 50-day line, while also breaking above the trend line and short-term resistance. The Relative force line PANW stock is at a new high. In a stronger market, PANW stock will flash clear buy signals as an early entry. The stock has a conventional buy point at 572.77.
FTNT stock jumped 11% to 316.45, back above the 200-day line and just below the 50-day line. A retracement of the 50 day line and the trend line just above this key level, in better times, would be a solid entry. Short-term resistance above those levels might be a bullish signal as well. The base buy point is 371.87.
Datadog stock rose 7% to 159.86, back above the 50-day streak. The stocks are in a chaotic consolidation with a deep handle, offering 184.80 buying points. The RS line of DDOG stock is not far off the mark.
Zscaler’s stock jumped 10% to 263.38 in the Thursday session, a penny below the 200-day streak. After the close, Zscaler’s earnings topped the number of views. But ZS stock fell overnight, back near its 2022 lows.
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market analysis
The stock market had a fiery session on Thursday. A gap in the key indicators appeared with Russia’s invasion of Ukraine with overwhelming force. But they bounced back in force when the West responded with harsher sanctions, but not so far that they are expected to have a devastating effect on the global economy.
Arguably the stock market was set to rebound after several days of selling. Major indexes broke below their Jan. 24 lows on Wednesday, with the Nasdaq briefly entering a bear market on Thursday. So this bounce may wear off quickly.
However, it was an encouraging session of high volume after a series of days of distribution and desperation.
In the meantime, Thursday marks the first day of the stock market’s attempt to bullish the major indices. Starting late next week, investors can look for a Follow-up day To confirm the new market rise.
Even if the market attempt continues and starts a follow-up day, not all confirmed uptrends will work. The S&P 500 and Nasdaq held the FTD on January 31, but the uptrend quickly got into trouble, and finally failed permanently on Wednesday. In late 2018, the market had two failed FTDs before finally hitting lows on Christmas Eve that year.
In the current environment, where headlines can send the market in radically different directions, it would be hard to trust any market recovery, even a certain rally.
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What are you doing now
Watching stocks and major indices rebound from steep intraday losses, it can be tempting to try to jump near the bottom. But there is a big risk that the market will roll quickly and fall to new lows. Even the upside may be limited if the market advances for a few days and then stops.
The past few months have shown the danger of becoming too aggressive and not expanding. What investors need now is patience. Wait a day for the follow-up to take the necessary action. Even then, you’ll want to add an offer slowly, especially if your buying opportunities are limited.
For now, keep working on your watchlists. The volatile market correction is once again moving potential leaders. Cybersecurity names are rising again, while banks are standing back. So put PANW stock on your watch list, along with the names of other security software – although it probably isn’t Zscaler. But who knows what combinations and stocks will remain strong when a new bullish trend finally takes hold in the market?
So throw in a wide net and an open mind. Focus on stocks with strong RSI lines. Stay connected. When the market shows sustained strength, you want to be prepared.
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