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Pharmaceutical industry

Stock Market Rally Continues Amid Volatility

Strategic Insights

— 2 min read

The stock market rally persisted on Monday, despite Monday's Nasdaq and S&P 500 losses, with Alphabet, Blackstone, CF Industries, and Cheniere Energy being highlighted as top stocks to buy and watch. These companies are in or near new buy zones, according to Investors Business Daily (IBD). Amid a volatile stock market, Dow Jones biotech Amgen, along with Alpha & Omega Semiconductor and Take-Two Interactive Software, are key earnings movers late. On Monday, the Dow Jones Industrial Average ended unchanged, while the S&P 500 lost 0.4%. The tech-heavy Nasdaq composite slid 0.6% after reversing from solid gains. Among major stocks, Apple dropped 0.4% Monday, while American Express was down 1.6% in American Express, a Dow Jones stock to watch, rallied 1.1% as it heads toward a new buy point. Electric-vehicle leader Tesla skidded nearly 2% Monday, giving up a part of Friday's gains.

Key Takeaways:

  • Alphabet, Blackstone, CF Industries, and Cheniere Energy are top stocks to buy and watch, being in or near new buy zones.
  • Dow Jones biotech Amgen reported fourth-quarter earnings and sales results, with the stock rallying less than 1% in extended trade.
  • American Express decisively regained its 10-week moving average in recent weeks and continues to move up the right side of a new base with a 189.13 buy point.
  • Top financial stock Blackstone is trying to break out past a 136.56 buy point, but the stock is about 4% below the entry following three straight days of losses.
  • Tesla Stock descended almost 2% Monday, giving back a part of Friday's 3.6% gain, but found much-needed support at its long-term 200-day moving average in recent sessions.
  • Dow Jones Leaders, Apple and Microsoft are building new bases, but are below the 50-day line.
  • TransDigm is expected to earn $3.14 a share on revenue of $1.23 billion, with shares building a cup with handle with a 669.13 buy point.
  • The 10-year Treasury yield pared losses Monday, but still ticked down below 1.92%, with U.S. oil prices declining around 1%, as West Texas Intermediate crude traded below $92 a barrel.
  • IBD's column commented, "Amazon.com fueled a big rally for the Nasdaq composite Friday, although the stock market wasn't sure how to react initially to the January employment report."

Statistics:

  • The Dow Jones Industrial Average ended unchanged on Monday.
  • The S&P 500 lost 0.4% on Monday.
  • The Nasdaq composite slid 0.6% on Monday after reversing from solid gains.
  • Apple dropped 0.4% on Monday, while American Express was down 1.6% in American Express.
  • Tesla skidded nearly 2% on Monday, giving up a part of Friday's 3.6% gain.
  • The 10-year Treasury yield pared losses on Monday, but still ticked down below 1.92%.
  • U.S. oil prices declined around 1% on Monday, with West Texas Intermediate crude trading below $92 a barrel.

Sources:

  • Investors Business Daily (IBD)
  • Dow Jones
  • Nasdaq
  • S&P 500
  • Russell 2000
  • IBD 50
  • Amazon.com
  • Wall Street
  • TransDigm
  • U.S. oil prices
  • West Texas Intermediate crude

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