The Dow Jones Industrial Average surged arsenic overmuch arsenic 300 points Monday, arsenic President Biden picked Jerome Powell arsenic Fed Chairman for a 2nd term. Meanwhile, Tesla banal rallied astir 5% aboriginal Monday aft Chief Executive Elon Musk tweeted that the Model S Plaid could scope China "around March."
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Among the Dow Jones leaders, Apple (AAPL) roseate implicit 2% Monday, portion Microsoft (MSFT) moved up 1.1% successful today's banal market. Nike (NKE) is backmost supra a new bargain point aft a caller breakout attempt.
Electric-vehicle leader Tesla (TSLA) gained astir 5% Monday. EV peer Rivian (RIVN) dived astir 14%, portion Lucid Motors (LCID) was down astir 3%. Chinese EV leaders Li Auto (LI) and Xpeng Motors (XPEV) are adjacent bargain points.
Among the apical stocks to bargain and watch, Alphabet (GOOGL), Amazon (AMZN), Apple and Shopify (SHOP) are successful caller bargain zones.
Alphabet, Microsoft and Tesla are IBD Leaderboard stocks. Xpeng Motors was featured successful past week's Stocks Near A Buy Zone story. Apple is an IBD SwingTrader banal and was Wednesday's IBD Stock Of The Day.
Dow Jones Today: Fed Chief Pick
After the banal marketplace unfastened Monday, the Dow Jones Industrial Average roseate 0.7%, portion the S&P 500 gained 0.7%. The tech-heavy Nasdaq composite slashed gains to conscionable 0.2% successful greeting trade.
| Index | Symbol | Price | Gain/Loss | % Change |
| Dow Jones | (0DJIA) | 35869.11 | +267.13 | +0.75 |
| S&P 500 | (0S&P5) | 4741.10 | +43.14 | +0.92 |
| Nasdaq | (0NDQC ) | 16202.88 | +145.44 | +0.91 |
| Russell 2000 | (IWM) | 235.45 | +2.73 | +1.17 |
| IBD 50 | (FFTY) | 50.69 | +0.05 | +0.10 |
Last Update: 10:26 AM ET 11/22/2021 |
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Among exchange traded funds, the Nasdaq 100 tracker Invesco QQQ Trust (QQQ) roseate 1%, hitting different grounds high. The SPDR S&P 500 ETF (SPY) climbed 0.9%.
Early Monday, President Joe Biden announced that helium is re-nominating existent Chairman Jerome Powell for a 2nd term. Fed Governor Lael Brainard volition beryllium nominated arsenic vice chairman.
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Stock Market Rally
The banal marketplace rally showed a mixed show Friday, arsenic the Nasdaq deed a caller high. The S&P 500 reversed from caller highs to station humble losses.
On Friday, The Big Picture commented, "The banal market's show was mostly affirmative Friday, arsenic the Nasdaq yet got past absorption astatine the 16,000 level. The S&P 500, which continues to deed absorption adjacent 4,700, closed with a insignificant loss. But the Dow and the small-cap Russell 2000 fell astir 0.8% each."
For regular banal marketplace commentary, beryllium definite to cheque retired IBD's The Big Picture.
Five Best Dow Jones Stocks To Watch Now
Dow Jones Stocks To Buy And Watch: Apple, Nike
IBD SwingTrader banal Apple is present extended past the the 5% bargain scope supra a 153.27 bargain constituent retired of a cupful with handle, according to IBD MarketSmith illustration analysis, pursuing Monday's implicit 2% advance. The 5% bargain portion tops retired astatine 160.93.
Dow Jones retail person Nike bullishly regained its cupful base's 174.48 bargain constituent amid Friday's 2.1% rally. Shares roseate 0.9% Monday and are successful bargain range.
Stocks On The Move: Nvidia
Chip elephantine Nvidia (NVDA) deed much grounds highs Monday, rallying 3% successful greeting trade. Shares are up much than 40% from a 230.53 bargain constituent successful a consolidation.
Zoom Video Earnings
A large 2020 banal marketplace winner, Zoom Video Communications (ZM), volition study aft the adjacent Monday. Analysts expect the institution to gain $1.09 per stock connected income of $1.018 billion, representing year-over-year increases of 10% and 31%, respectively.
Zoom banal closed Friday astir 50% disconnected its 52-week precocious and sharply beneath its semipermanent 200-day line. The banal is besides beneath its 50-day moving average.
Stocks To Buy And Watch: Adobe, Alphabet, Amazon, Shopify
Adobe is astir extended past a 659.29 bargain constituent successful a cupful with grip pursuing a Nov. 4 breakout move, arsenic shares jumped 2.6% Friday. ADBE banal turned 0.5% little midday Monday. Early Monday, Atlantic Equities upgraded Adobe from neutral to overweight, mounting a terms people of 820.
IBD Leaderboard banal Alphabet remains conscionable supra a 2,925.18 buy point in a flat base, according to IBD MarketSmith illustration analysis, pursuing Friday's 0.6% loss. The 5% bargain area runs up to 3,071.44. Shares were down 1.1% Monday. Leaderboard noted an further bargain constituent astatine 3,012.40 owed to a caller three-weeks-tight pattern.
Amazon remains supra a 3,605.55-buy constituent successful a cupful with grip pursuing Thursday's breakout. Shares moved down 1.7% Monday, connected gait to widen Friday's 0.5% diminution aft a antagonistic reversal. The IBD Stock Checkup shows that AMZN stock has a mild 83 retired of a cleanable 99 IBD Composite Rating.
The stock's comparative spot enactment is coming sharply disconnected caller lows aft November's gains, but it is good beneath its July high. That indicates underperformance vs. the S&P 500 implicit a longer clip frame. Ideally, the RS enactment should deed a caller precocious connected the breakout time oregon soon thereafter to corroborate the banal arsenic a marketplace leader.
Shopify stock gave up a 1,650.10 bargain constituent successful a consolidation amid Monday's aboriginal 3% loss.
EV Stocks: Li Auto, Xpeng, Lucid Motors, Rivian
Li Auto continues to physique a cupful with grip that shows a 34.93 bargain constituent but is falling further distant from the entry. Shares roseate much than 2.2% Monday, looking to bounce aft 3 consecutive days of losses.
Xpeng Motors is astir 2% beneath a 48.08 bargain constituent successful a choppy cupful basal pursuing Friday's astir 1% decline. Shares gained astir 4% Monday and are backmost supra the caller bargain point.
Lucid Motors shares dropped astir 3% Monday, threatening to springiness up a tiny portion of Friday's 17.3% surge. LCID stock remains acold extended past a 28.49 bargain constituent successful a cup-with-handle base.
Hot archetypal nationalist offering Rivian threatened to descent aft Friday's 4.2% bounce, diving astir 14% Monday aft Ford Motor (F) and Rivian decided to backmost away from a pact to physique a circumstantial electrical vehicle.
RIVN shares closed Friday astir 28% disconnected their post-IPO highs. Remember that investors should beryllium disciplined astir buying caller issues by waiting for an IPO base to signifier earlier considering a purchase. The caller weakness could beryllium the commencement of its archetypal basal formation, but past week's terms enactment was not constructive fixed the immense downside reversal and precocious volatility.
Tesla Stock
Tesla stock rallied astir 5% Monday, looking to adhd to Friday's 3.7% summation and widen a triumph streak to 5 sessions. Early Monday, Tesla CEO Musk tweeted that the Model S Plaid — a 396-mile scope luxury sedan that tin scope apical speeds of up to 200 miles per hr — could scope China "around March."
Shares traded arsenic precocious arsenic 1,243.49 connected Nov. 4, but the banal ended Friday astir 9% disconnected its 52-week high. TSLA shares stay sharply supra a 764.55 bargain constituent successful a cup with handle, arsenic good arsenic earlier entries astatine 700.10 and 730. The illustration besides showed an alternate introduction astatine 900.50.
Dow Jones Leaders: Microsoft
Among the apical Dow Jones stocks, bundle elephantine Microsoft moved up 1.1% Monday.
On Oct. 18, Microsoft stock broke retired past a flat base's 305.94 bargain point. The 5% bargain portion tops retired astatine 321.24, truthful the banal is present extended.
Be definite to travel Scott Lehtonen connected Twitter astatine @IBD_SLehtonen for much connected maturation stocks and the Dow Jones Industrial Average.
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