Dow Jones Futures Await Jobs Report As Market Rally Holds Gains; Tesla Semi Deliveries Kick Off

Dow Jones futures fell slightly early Friday, along with S&P 500 futures and Nasdaq futures. Investors will turn to the November jobs report on Friday morning.




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The Tesla Semi delivery event took place on Thursday night Tesla (TSLA) sponsor of BYD will generate rising EV sales numbers.

The stock market showed a strong performance on Thursday, with the indexes mixed and making Wednesday’s biggest gains, according to Fed Chairman Jerome Powell. Thursday’s PCE inflation report, the Fed’s measure of inflation, showed a smaller-than-expected increase in the monthly and overall core inflation rate.

Ulta Beauty ( ULTA ) earnings report on Thursday Night. ULTA was little changed overnight after reporting strong earnings and raising guidance. Shares of beauty products retailers are already at record highs, driven by buying points. Veeva Systems Corporation ( VEEV ) beat Q3 fiscal sentiment, but Q4 guidance was slightly below consensus. VEEV’s business has gradually declined in extended business. Shares closed above the 200-day line, immediately following the initial move.

Meanwhile, the Dow giant Caterpillar ( CAT ) continues to be strong, with CAT stock below buy points. Cyber ​​security leader Palo Alto Networks (PANW) and Marriott International (MAR) flashing to buy.

Boeing products are available on SwingTrader. Caterpillar is IBD’s stock of the day for Thursday.

Dow Jones Futures Today

Dow Jones futures fell slightly more than the gain. S&P 500 futures fell 0.1%. Nasdaq 100 futures declined 0.3%.

The 10-year yield rose 2 basis points to 3.55%.

Dow futures, stocks and other factors will turn on the November jobs report, due out at 8:30 a.m. ET.

Remember that overnight events in the Dow Futures and elsewhere do not necessarily translate into actual trading in the next stock market session.

Work history

Economists expect the November jobs report to show a gain in nonfarm payrolls of 200,000, down from 261,000 in October. Take a look at the household survey, which showed employment fell by 328,000 in October. The unemployment rate, based on household surveys, is expected to remain at 3.7%, with the labor force participation rate reaching 62.3%.

Data from other projects this week has shown that the pace is slow. Jobless claims initially fell flat, but claims continued to rise again. ADP reported a sharp decline in private sector employment last month, while the October JOLTS survey found a slight decline in job openings.

Tesla Semi Delivery Program

The Tesla Semi car delivery event begins shortly after 5pm PT.

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Tesla CEO Elon Musk will hand over some Tesla Semi EVs PepsiCo (PEP) on Thursday evening. Speaking of timing, the Tesla Semi was first revealed six years ago and is supposed to go into production in 2020.

Musk says the Tesla Semi, which will use the same plaid drive unit as the high-end Model S, has a 500-mile range on a single charge. Investors will need details on price, size and weight. That will be important as the Tesla Semi takes on larger EVs in the market from Volvo, Nicholas (NKLA), BYD (BYDDF) and others.

Another big question is what Tesla Semi production will be in the coming months. Musk did not give an explanation on that front.

Meanwhile, Tesla is offering a $3,750 discount on the Model 3 and Model Y in the US this month. The idea is to encourage people to speak up now. And Gen. The tax money should go toward more Model 3 sedans and Model Y crossovers, though the government has not yet provided specifics.

Tesla has cut the insurance premium of 8,000 yuan ($1,133) in half for December purchases, as planned, but is now offering free charging and other benefits that are reportedly 15,000 yuan high.

Tesla stock closed at 194.70 Thursday. On Wednesday, TSLA stock rose 7.7%, retrieving its 21-day streak, amid heavy trading and as China’s EV stocks rose.


Tesla Vs. BYD: Which Giant EV is the best to buy?


BYD sales

Chinese EV giant BYD expects to release November deliveries on Friday or Saturday, with another record seen. BYD is expected to be China’s No. 1 car brand for months, beyond Volkswagen (VWAGY). VW Group will remain No. 1 including Audi.

BYD stock fell 2.2% to 25.07 but remained above its 50-day line. BYDDF shot up 9.9% on Wednesday, along with other Chinese EV stocks.


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Market Rally

The stock market had a fall of 30 minutes Thursday morning, but gradually improved to a mixed, strong performance following Wednesday’s big gains.

The Dow Jones Industrial Average fell 0.6% in trading Thursday, as well Salesforce.com (CRM) big bad. The S&P 500 index was down 0.1%. The Nasdaq composite rose 0.1%. The small-cap Russell 2000 returned 0.2%.

US crude oil prices rose 0.8% to $81.22 a barrel.

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The 10-year yield was down 17 basis points at 3.53%, the lowest since late September. In response to Fed Chairman Powell’s PCE inflation report, the market is close to locking in a 50-basis-point Fed rate hike on Dec. 14, ending a four-day streak of 75-basis-point moves. Also, there is a 50-50 chance of only a quarterly Fed rate hike in February.

The dollar, going against the grain, fell to the lowest level in almost three months.

Business near where you buy

CAT stock fell 0.3% to 235.69. Stocks are hovering around 238 percent still worth from a major cup going back to April, according to MarketSmith research. Investors can see 239.95 as an alternative buy point, either as an upper hand in the seven-month cup head or as a custom tool to get more support starting in June 2021.

Cyber ​​security company Palo Alto Networks’ stock climbed 5% to 178.40, jumping above its 200-day line, retracing that level for the first time since mid-September. That comes after it bounced back to its 50-day line intraday Wednesday, taking away major gains from peers. CrowdStrike (CRWD). Investors may view PANW stock as having a large, double-double with a buy point of 193.01. But shares have been able to do so by clearing the 200-day line and trending down from the April numbers.

MAR stock fell 0.1% to 165.19, staying above 164.99 buying points from a low starting Aug. 16. On Wednesday, Marriott stock bounced back from its 200-day mark, rising 2.5% on volume.

ETFs

Among the best-performing ETFs, the iShares Expanded Tech-Software Sector ETF ( IGV ) rose 1.1%, even as the CRM core traded. The highest price of the VanEck Vectors Semiconductor ETF is 0.3%.

The SPDR S&P Metals & Mining ETF (XME) fell 0.8% and the Global X US Infrastructure Development ETF (PAVE) was down 0.1%. US Global Jets ETF changed +0.4%. SPDR S&P Homebuilders ETF changed +1.25%. The Energy Select SPDR ETF (XLE) declined 0.3% and the Financial Select SPDR ETF (XLF) fell 0.6%. The Health Care Select Sector SPDR Fund (XLV) advanced 0.3%

Historically, the ARK Innovation ETF (ARKK) rose 1.1% and the ARK Genomics ETF (ARKG) climbed 0.6%. Tesla stock is the largest holding across Ark Invest’s ETFs. The Cathie Wood box also has a small presence in BYD products.


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Market Rally Analysis

The stock market showed a positive trend on Thursday, holding on to Wednesday’s big gains.

The S&P 500 Index bounced back intraday from a pullback to its 200-day moving average, after finally retracing that key level on Wednesday. The Russell 2000 also has its 200-day line. The Nasdaq still has work to do to return to its 200-day high.

The Dow Jones gave up only a fraction of Wednesday’s gains, mostly due to Salesforce. Many Dow Jones stocks, including Caterpillar, Boeing and UNH stocks, are showing strength. That reflects the broader potential in manufacturing, finance, health services and more.

October’s PCE data was better than expected. After Wednesday’s strong market rally and Fed Chairman Jerome Powell – who frankly doesn’t sound very good – just holding those gains Thursday is encouraging.

Friday’s job report is another hurdle. If the job data points to some weakness in the labor market, it could provide more tailwinds for stocks. But a hot job market could trigger a big selloff.

Stocks and the dollar have fallen sharply over the past two days and weeks, providing significant tailwinds for stocks. The return to fruits and vegetables will not be surprising.

Keep in mind that the market has many big gains one day, followed by a phase or a slide. That made it tricky for investors to take a step forward even as the indexes moved forward in the past few weeks.


Market Time and IBD’s ETF Market Strategy


What You Should Do Now

There are reasons to buy or stand on Wednesday’s big move. On Thursday, investors may add a little more exposure, but the jobs report is the big question.

Friday’s stock market and November jobs report could trigger several buying opportunities. But don’t be fooled by promising stocks before big news. Instead, work on your checklist so you’re ready to take action. And be ready to reduce exposure if the market or you holds the head sharply south.

Read The Big Picture every day to stay in touch with the market leading stocks and sectors.

Please follow Ed Carson on Twitter at @IBD_ECarson for stock market updates and more.

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