The Dow Jones Industrial Average was broadly flat and other indices remained low as the aftermath of the Federal Reserve Board boosted stock markets.Bitcoin is coin base (COIN) is set to report earnings. robin hood (HOOD) soared in earnings.
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Meanwhile, some notable stocks made some bullish moves.Leaderboard inventory cheniere energy (LNG) returned to buying territory after rising, but Hirano GP (PAGP) tested points of purchase.
Trading volumes on the Nasdaq and New York Stock Exchange fell from the same time on Wednesday.
The benchmark 10-year Treasury yield rose 6 basis points to 4.12%. West Texas Intermediate crude fell about 2% to trade at just over $88 a barrel.
Nasdaq Slip, IBD 50 Excel
The Nasdaq was the worst of the major indexes, down more than 1%. Cognizant Technology Solutions (CTSH) was lagging behind as it fell more than 13% after reporting modest earnings in its most recent quarter.
The S&P 500 also struggled, down 0.6%.playing insurance lincoln national (LNC) struggled here, plummeting more than 32% on a loss in the third quarter.
The S&P 500 sectors were mixed, with energy and industrials performing the best. Technology and communications services have had their toughest times.
Small caps performed well, with the Russell 2000 down 0.2%.
Growth stock trailblazer Innovator IBD 50 ETF (FFTY) was similarly hit, dropping 1.3%.
Dow Jones Today: Apple Stock Lags
The Dow Jones Industrial Average edged up from today’s lows.
darling on wall street apple (AAPL) was the worst performer, down nearly 4%. Stock prices have softened following the post-earnings rally. Currently, he is about 7% below the 50-day moving average, according to MarketSmith analysis.
As an advantage, boeing (BA) was the brightest. The aerospace giant he rose nearly 7%. The company revealed Wednesday that it plans to ramp up production of the new aircraft. Also, in 2023, he expects free cash flow to go from $3 billion to $5 billion.
Donald Trump’s stock remains stable after vote delay
Acquisition of Digital World (DWAC) remained stable after a key vote delay. The fate of Digital World Acquisition, a Trump-related special purpose acquisition company (SPAC), remains unclear.
The company, which is about to go public with former president Trump Media and Technology Group, has once again bet on an important vote. Postponed.
SPAC sponsor ARC Global Investments donated about $2.9 million to extend the merger deadline to December 8 after the initial failed vote in September, according to federal filings.
A vote arranged by DWAC management will allow shareholders to extend the deadline to September 8, 2023.
Today, Trump Media and Technology Group’s main product is conservative social media site Truth Social, a right-wing alternative to Twitter.
DWAC shares were slightly positive in afternoon trading, but remain down nearly 69% this year. Donald Trump stock is in the bottom 4% of stocks in terms of stock market performance over the last 12 months.
coinbase earnings term; bitcoin profit
Despite Bitcoin’s rise, Coinbase’s share price fell faster than its earnings. dropped about 4%. Volume is average, indicating a lack of confidence in the move.
Analysts expect a loss of $2.38 per share, compared with earnings of $1.62 in the third quarter last year. Earnings halved to $641 million for him.
COIN stock is currently trading below all major moving averages. Shares are down nearly 77% since the start of the year.
Bitcoin continues to struggle in a tough environment for risk assets. It was trading just above the $20,000 mark after rising slightly today.
Play for other cryptocurrencies was mixed. Grayscale Bitcoin Trust (GBTC) rose just over 1% while Bitcoin mining was taking place. riot blockchain (RIOT) fell more than 4%.
Meanwhile, Robinhood stock surged nearly 10% on the gain. It benefited from a double hit, with earnings outperforming Wall Street’s estimates while posting a smaller-than-expected quarterly loss. The trading platform company is down more than 32% so far in 2022.
Leaderboard play shows strength
Leaderboard stock Cheniere Energy showed strength by rebounding above the buy point after earnings dipped.
LNG initially fell after poor performance and then rose. It is in the buy zone above the 178.72 entry.
Cheniere reported a net loss of $9.54 per share, missing out on the EPS analyst’s view of $5.72. It also widened the previous year’s loss of $4.27 per share. Earnings increased 175% from his $3.2 billion the year before to his $8.85 billion. This was better than expected.
Cheniere confirmed its guidance for the full year and now expects Adjusted EBITDA of $11.0 billion to $11.5 billion. The company also projects $8.1 billion to $8.6 billion in distributable cash flow in 2022.
Meanwhile, Plains GP topped the Cup-based entry at 13.12. Earnings were followed by an increase in above-average volume. His EPS for the oil pipeline company was 36 cents, well above his 12 cents-per-share loss the year before. Revenue also increased by 33% for him.
However, with an EPS rating of 45 out of 99, earnings performance is still not ideal.
Follow Michael Larkin on Twitter. @IBD_M Larkin For a detailed analysis of growth stocks.
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