The stock market takes a second wind;  Energy stocks are leaders

The stock market takes a second wind; Energy stocks are leaders

The main stock indices rebounded from the lows of the day in the late afternoon. Stocks are trying to claw back morning gains after volatile trading following stronger-than-expected jobs data.


The S&P 500 recovered 0.8%, while the Nasdaq composite added 0.5% The Dow Jones Industrial Average added 0.7%. The Russell 2000 Small Cap Index rose 0.8%

The Invesco QQQ Trust (QQQ) technology-heavy Nasdaq 100 ETF gained 0.8%.

Volume on the NYSE and Nasdaq was higher from the same time Thursday.

Crude oil rose 5.2% to $92.76 a barrel. The Energy Select Sector SPDR ETF (XLF) edged up 1.3%. Natural gas climbed 7.1% and back above $6 per million British thermal units. The 10-year Treasury note rose 6 basis points to 4.16%. Bitcoin climbed 3.8% to $21.035

European markets were all positive, with Germany’s DAX stock index up 2.5%, London’s FTSE 100 up 2% and Paris’ CAC 40 up 2.8% to end the week of trading. negotiation.

The odds of a 50 basis point hike at the Fed’s December meeting are now 61.5%, while 38.5% expect a 75 basis point hike, according to CME FedWatch. Tool.

Jobs report finds rising payrolls and unemployment

October nonfarm payrolls rose 261,000 from the consensus expectation of 210,000. The jobless rate rose to 3.7% from 3.6% expected, from 3.5% in September.

The participation rate of 62.2% was slightly lower than the projected 62.3%.

Starbucks (SBUX) rose 8.2% after reporting better-than-expected fourth-quarter EPS and sales figures Thursday after the market closed. The stock approached the buy point of 93.58 from a flat base, but pulled back.

Cardinal Health (CAH) gained 4.5% after beating expectations for its first-quarter EPS and sales figures. The drug wholesaler hit a 52-week high.

DraftKings (DKNG) fell more than 26% after posting higher-than-expected third-quarter sales, but lower-than-expected monthly unique users.

Energy stocks reach buy points

Woodside Energy (WDS) rose 8.7% and reached the buy point of 24.04 from an irregular pattern. Despite the gap, the stock is in the 5% buy zone. Shares in the Australian crude oil and LNG explorer began trading on June 10.

The company posted triple-digit quarterly EPS and sales growth.

Tsakos Energy Navigation (TNP) rose 0.9% and broke out of a cup-handle base in big volume on Friday, hitting the buy point of 19.23. But the stock dipped below the entry. Its relative strength line has reached a new high, as indicated by the blue dot on the MarketSmith chart.

IBD 50 Stock Market Movers: Healthcare Staff Breakdown

The Innovator IBD 50 ETF (FFTY) fell 1.1%, posting a performance that underperformed the major equity indices.

Texas Land of the Pacific (TPL) rose 5.2% in light volume as energy stocks posted a strong day. The stock has a relative strength rating of 99, which means it has outperformed 99% of stocks in the IBD database.

earth stone energy (ESTE) gained 1.4% after two days of decline following its third-quarter earnings report on Wednesday. The company missed the sales estimate, but beat EPS. Stocks found support at the 21-day exponential moving average.

SM Energy (SM) rose 3.2% and attempted to break out of a choppy base, but fell back below the 47.91 buy point.

Cross Country Health Care (CCRN) fell more than 12% and fell below its 21-day exponential moving average.

Coterra Energy (CTRA) fell 5.6% despite posting higher third-quarter revenue and EPS. The oil and gas exploration stock is trying to hold above the 200-day moving average.


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