Dow Jones Rises As Tesla Stock Hits Record Highs; Donald Trump SPAC Soars 284%

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The Dow Jones Industrial Average rose 140 points on Friday, as Intel (INTC) and Snap (SNAP) dived into earnings. Former President Donald Trump linked to the SPAC Digital World Acquisition acquisition (DWAC) climbed as much as 284% in trade in the morning before it even stopped. Tesla’s stock record rose on Friday morning.

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Among Dow Jones leaders, Apple (AAPL) rose 0.4% Friday, while Microsoft (MSFT) moved 0.2% in the stock market today. American Express (AXP), Goldman Sachs (GS) and JPMorgan Chase (JPM) saw new buying points in the current rally.

Dow Jones stock Intel – along with Chipotle Mexican Grill (CMG) and Snap – reported gains after Thursday’s close.

Tesla (TSLA) rose 0.8% Friday morning following advance-earnings fueled on Thursday. Shares are on new increases.

Among the top stocks to buy and watch, Advanced Micro Devices (AMD), Argo Blockchain (ARBK), Dutch Bros (BROS) and Olaplex (OLPX) are in or near new buy zones.

Microsoft, Olaplex and Tesla are IBD Leaderboard stocks. AMD was featured in this week’s Stocks Near A Buy Zone story. Argo Blockchain is featured in this week’s IPO Leaders column.

Dow Jones Today

After the stock market opened, the Dow Jones Industrial Average was up 0.4%, while the S&P 500 was up 0.1%. The tech-heavy Nasdaq mixture lost 0.4% in morning trading.

Among the funds exchanged, Innovator IBD 50 (FFTY) was down 0.8% Friday. Nasdaq 100 tracker Invesco QQQ Trust (QQQ) fell 0.2%. And the SPDR S&P 500 ETF (SPY) climbed 0.1%.

Stock Market ETF Strategy And How To Invest

Stock Market Rally

The stock market rally put on a solid performance on Thursday, as the S&P 500 hit a record high and marked its seventh consecutive gain. The Nasdaq easily recovered from Wednesday’s small loss and made its highest close since Sept. 9.

Following last week’s significant market strength, it’s an important time to read the Big Picture.

On Thursday, The Big Picture commented, “Investors should be increasing exposure to new breakouts in leading growth stocks. But stay disciplined and make sure to minimize losses if breakouts start to disappear. Remember Q3 that earnings period is already symbolic. Strong earnings could fuel leading stocks to previously untouched levels, so watch out for breakaway gaps. “

Five Best Dow Jones Stocks To Watch Today

Dow Jones Stocks To Watch: Amex, Goldman, JPMorgan

American Express ended Thursday below a buy point of 178.90 in a cup with a handle, according to chart analysis on IBD MarketSmith. The shares were higher at 3% Friday.

Goldman Sachs rose 1.1% Friday, as it traded nearly 3% away from a 420.86 buy point on a flat base. Meanwhile, JPMorgan was in the 5% buy zone beyond a 163.93 entry in a cup with a handle and bounced from the 50-day moving average. The 5% buying area reached 172.13. JPM stock rose 0.6% in morning trade.

American Express and Goldman Sachs both have strong lines of strength. A strong line of strength relative to the start of a new rise indicates a potential market leader.

Dow Jones Earnings: Intel

Intel’s earnings crushed Wall Street’s earnings target for the third quarter, but investors failed on its sales and outlook. Intel shares have fallen more than 10%.

The stock ended on Thursday nearly 20% from a 52-week high.

Stock Market Earnings: Chipotle, Snap

Chipotle beat third-quarter earnings expectations Thursday, and the stock dropped 1.5% in morning trading. CMG shares have been stuck below their 50-day line for weeks.

Snap lost third-quarter earnings views late Thursday. But it fell in sales and showed a fourth-quarter earnings outlook that was short of expectations due to various issues. Snap estimated revenue in the fourth quarter in the range of $ 1.16 billion to $ 1.2 billion. Below are analyst estimates of $ 1.36 billion.

Snap, Snapchat’s parent, crashed nearly 20% on early merchandise.

Stocks To Buy And Watch: AMD, Argo Blockchain, Dutch Bros, Olaplex

Advanced Micro Devices broke the previous 114.59 buy point from a double-bottom base earlier this week and is still in buy range. AMD stock jumped more than 1.5% in the open.

According to IBD Stock Checkup, AMD boasts a perfect Rating of 99 IBD Composites. The IBD Composite Rating identifies stocks with a blend of strong fundamental and technical characteristics.

Argo Blockchain stock is trying to break its first initial point of purchase – a 19.43 entry on an IPO base – according to analysis on the IBD MarketSmith chart. The stock was getting gains of 4% Thursday and closed below entry. Argo is part of IBD’s IPO Leaders screen. Shares dropped nearly 2% on Friday.

The Dutch Bros. closed Thursday more than a 62.10 point buy on an IPO base following Tuesday’s breakout move. The shares are about 2% below the buy point after two straight days of losses. Dutch Bros. stock rallied 3% Friday morning.

IBD Leaderboard stock Olaplex cleared an entry on the IPO base at 27.84 Thursday, advancing 7.8% to close the 5% buy zone. The buying area led at 29.23. In each Leaderboard analysis, it also deleted an aggressive entry into the trendline near 27. Shares dropped nearly 1% on Friday.

Join IBD experts as they analyze the top stocks in the newly rising stock market on IBD Live

Donald Trump SPAC Soars

The Digital World Acqu acquisition – a special purpose acquisition company, or SPAC, that includes Trump Media & Technology Group – climbed as much as 284% on Friday morning to 175 before stopping due to a circuit breaker, at a speed that add to the 356% of Thursday’s ascent after former president Trump announced plans to launch a social media company.

The firm plans to launch a social media site named Truth Social. There will also be a video -based subscription -based service called TMTG +.

A SPAC, also known as a blank check, is an alternative to a traditional public initial offering. These blank-check companies have no assets beyond cash. They traded on stock exchanges and then merged with private companies, publicizing those companies.

The Tesla Stock Hits New Heights

Tesla stock rallied 1.4% Friday, looking to add to the bullish 3.3% gained Thursday. TSLA shares will remain comfortably above the 764.55 buy point in a cup with a handle, as well as previous entries at 700.10 and 730.

The stock hit new highs Friday morning, leading at 907.88. On Jan. 25, Tesla stock hit a previous record high of 900.40, after climbing as much as 93% from a 466 buy point in a cup-with-handle pattern.

Dow Jones Leaders: Apple, Microsoft

Among the top Dow Jones stocks, Apple rose 0.4% Friday, in pace to extend a six -day consecutive win. A new base on the appraisal is forming with 157.36 buy points, according to chart analysis by IBD MarketSmith.

Software giant Microsoft lost 0.2% Friday, while the stock remained in buying range above the latest buying point. The flat base had 305.94 buy points and the 5% buy zone reached 321.24.

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

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