• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

Three Treatment Options To Consider

May 9, 2025

Microsoft Bans Employees From Using ‘Chinese Propaganda’ Chatbot

May 9, 2025

How Smart Mattresses Improve Sleep Quality For Couples

May 9, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Sunday, May 11
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    Microsoft Bans Employees From Using ‘Chinese Propaganda’ Chatbot

    May 9, 2025

    OpenAI CEO Warns: ‘Not A Huge Amount Of Time’ Until China Overpowers American AI

    May 9, 2025

    Trump Announces First Post-Tariff Trade Deal

    May 8, 2025

    Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

    May 7, 2025

    Tyson Foods Announces It Will Bend The Knee To Trump Admin’s New Rules

    May 7, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Finance»Dow Jones Futures Fall After Hot Inflation, Tesla FSD Recall Hit Market Rally; DoorDash Runs On Earnings
Finance

Dow Jones Futures Fall After Hot Inflation, Tesla FSD Recall Hit Market Rally; DoorDash Runs On Earnings

February 17, 2023No Comments8 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Dow Jones Futures Fall After Hot Inflation, Tesla FSD Recall Hit Market Rally; DoorDash Runs On Earnings
Share
Facebook Twitter LinkedIn Pinterest Email

Dow Jones futures fell slightly overnight, along with S&P 500 futures and Nasdaq futures. Applied Materials and DoorDash were key earnings after the close.




X



The stock market rally pulled back Thursday amid a hot wholesale inflation report. The Dow Jones and other major indexes slashed early losses, but then fell back to session lows on a hawkish statements by St. Louis Fed President James Bullard and a sell-off in red-hot Tesla stock. Tesla (TSLA) is recalling over 362,000 vehicles for Full Self-Driving flaws that could cause crashes.

But leading stocks continued to act well overall.

Applied Materials (AMAT), HubSpot (HUBS), DoorDash (DASH), Dropbox (DBX), Shockwave Medical (SWAV), Texas Roadhouse (TXRH) and Vale (VALE) were notable earnings reports after Thursday’s closing bell.

Deere (DE) reports early Friday.

Dow Jones Futures Today

Dow Jones futures sank 0.15% vs. fair value. S&P 500 futures declined 0.3%. Nasdaq 100 futures fell 0.5%, with TSLA stock continuing to slide.

The 10-year Treasury yield rose 5 basis points to 3.89%, quickly approaching the 4% level again.

Crude oil futures fell slightly.

Remember that overnight action in Dow futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.

Key Earnings

AMAT stock rose 1.5% in overnight trade as Applied Materials earnings beat fiscal Q1 views, while the chip-gear maker’s Q2 guidance topped at the midpoint. Applied Materials stock fell 3.4% to 115.41 on Thursday. That’s back below a 116.19 cup-base buy point, though AMAT could retake it Friday.

HUBS stock soared 11% after hours, signaling a breakout as HubSpot earnings comfortably beat. The marketing software maker slipped 1.5% to 361.93 on Thursday. HubSpot stock has a cup-with-handle base with a 399.65 buy point, according to MarketSmith analysis.

DASH stock popped 5% overnight after DoorDash reported a wider-than-expected loss. But revenue beat while the food delivery app giant also gave a rosy outlook and announced a $750 million buyback. DoorDash stock rose sank 1.9% to 66.89 on Thursday. DASH stock recently cleared a bottoming base as it retook the 200-day line.

DBX stock was little changed in extended action as Dropbox earnings just beat. Dropbox stock dipped 0.9% on Thursday to 23.96, just below a 24.19 cup-with-handle buy point.

SWAV stock gained 5% in late action as Shockwave earnings crushed views while revenue was in line. Shockwave stock nudged down 4 cents on Thursday to 191.24, not far from its 50-day line but still some distance from the 200-day moving average.

See also  IMF’s Package to Sri Lanka Includes Corruption Fixing

TXRH stock fell 5% in overnight trade, signaling a move below a recent buy point, as Texas Roadhouse earnings and revenue missed. TXRH stock climbed 0.8% on Thursday to 105.15, still in range from a 101.85 flat-base entry.

Brazilian mining giant Vale edged lower in extended action after reporting Q4 results. Vale stock closed up 0.2% to 17.09. Shares recently round-tripped a 12% gain from a 17.19 cup-with-handle buy point. Investors could use a move above the 50-day line, which roughly coincides with the prior buy point, as an entry.


Join IBD experts as they analyze actionable stocks in the stock market rally on IBD Live


Stock Market Rally

The stock market rally opened lower on a hot producer price index and lower-than-expected jobless claims. That continues a trend of generally strong economic data, including Tuesday’s CPI inflation report. The major indexes came off lows, but faded again in the final hour of trading. Bullard’s Fed rate hike comment and TSLA stock were possible catalysts for the late afternoon slide.

The Dow Jones Industrial Average slumped 1.3% in Thursday’s stock market trading. The S&P 500 index fell 1.4%. The Nasdaq composite tumbled 1.8%. The small-cap Russell 2000 fell nearly 1%.

U.S. crude oil prices dipped 0.1% to $78.49 a barrel.

Copper prices bounced 2.8%.

The 10-year Treasury yield climbed 3 basis points to 3.84%, after hitting 3.87% intraday. The 10-year Treasury yield is at 2023 highs, surging from a Feb. 2 low of 3.33%.

St. Louis Fed’s Bullard said Thursday afternoon that he’s open to a 50-basis point rate hike. Bullard is one of the more hawkish Fed policymakers, and the most eager to go for big moves. But markets are still pricing in quarter-point moves in February and March, while leaning toward one more in either June or July.

ETFs

Among growth ETFs, the Innovator IBD 50 ETF (FFTY) slumped 2.4%, while the Innovator IBD Breakout Opportunities ETF (BOUT) fell 1%. The iShares Expanded Tech-Software Sector ETF (IGV) skidded 2.5%. The VanEck Vectors Semiconductor ETF (SMH) gave up 2.7%. AMAT stock is a notable SMH holding.

Reflecting more-speculative story stocks, ARK Innovation ETF (ARKK) lost 2.8% and ARK Genomics ETF (ARKG) 2.9%. Tesla stock is a major holding across Ark Invest’s ETFs.

SPDR S&P Metals & Mining ETF (XME) rebounded 1% and the Global X U.S. Infrastructure Development ETF (PAVE) shed 1%. U.S. Global Jets ETF (JETS) descended 1.8%. SPDR S&P Homebuilders ETF (XHB) stepped down 1.2%. The Energy Select SPDR ETF (XLE), Financial Select SPDR ETF (XLF) and Health Care Select Sector SPDR Fund (XLV) all retreated 1%.

See also  Dollar drops to 3-month low, heading for biggest monthly fall in a year

Five Best Chinese Stocks To Watch Now


Tesla FSD Recall

The National Highway Traffic Safety Administration reported Thursday that Tesla Full Self-Driving lets a vehicle “exceed speed limits or travel through intersections in an unlawful or unpredictable manner (that) increases the risk of a crash.”

Some 362,758 Tesla vehicles could be affected, NHTSA said. Tesla, which apparently disputed some of the findings, plans to carry out the recall via an over-the-air software patch.

However, Tesla has been trying to solve some of these issues for years, so it’s possible that Tesla doesn’t have a fix.

CEO Elon Musk decried calling the move a recall, saying that is “anachronistic and just flat wrong!”

It’s also unclear if this recall is the start of several regulatory moves vs. FSD, or if it’s a limited one-off.

NHTSA is conducting a wide-ranging probe of Tesla’s FSD and Autopilot driver-assist systems, including crashes into stationary vehicles and phantom braking. The Justice Department is conducting a criminal probe into Tesla’s self-driving claims. But there’s no timeline for when those investigations might end, or if regulators will end up taking any action vs. Tesla.

Musk has claimed for years that Tesla would achieve fully autonomous driving “this year.” But even FSD Beta is only a Level 2 driver-assist system.

Tesla stock tumbled 5.7% to 202.04 on Thursday. Shares initially only edged lower, but selling picked up into the close. It’s unclear if TSLA stock was driving the overall market lower or the other way around.

But shares are still up 2.6% for the week and have nearly doubled from the Jan. 6 bear-market low of 101.81. TSLA stock had been coming up toward its sliding 200-day moving average, an obvious resistance area.

Tesla stock fell 2% after the close in active trade.

Overnight, Tesla raised the China price of higher-end Model Y crossovers by $290, after raising the entry-level price by the same amount a week earlier. Those following major cuts in late October and on Jan. 6, but could spur more potential buyers to act vs. waiting for more cuts.

Tesla will halt some production at its Shanghai plant starting Sunday, Bloomberg reported earlier this week, to prepare for an unconfirmed Model 3 upgrade later this year. This follows two extended shutdowns in late December and late January.

See also  Despite Criticisms, Thailand to Press Ahead With $13.8 Billion Stimulus Plan

Market Rally Analysis

The stock market rally has alternated between resilience and strength in February despite mixed earnings and economic data.

The major indexes fell Thursday, but all are continuing to trade in a recent range since early February. The Dow Jones did fall below its 21-day line, but is still holding the 50-day.

A longer pause for the market rally would be fine.

A few more stocks flashed buy signals, such as Albemarle (ALB), Iridium (IRDM) and Cisco Systems (CSCO). Many other recent movers are holding up well, including GlobalFoundries (GFS), Arista Networks (ANET) and Monster Beverage (MNST).

There were some notable losers, including Shopify (SHOP) and Toast (TOST) on earnings. But the general trend has been favorable.

Plenty of other leaders are setting up. If the market rally moves out of its recent pause, many of these names will likely break out or trigger early entries.

Keep in mind that the stock market rally could shift from its “glass half-full” mentality and start selling off in the face of uneven or ugly economic data and earnings reports. The rebound in Treasury yields and the dollar may start to become a bigger issue, with the 10-year yield nearing 4%.


Time The Market With IBD’s ETF Market Strategy


What To Do Now

Investors need to be ready, building up their watchlists, doing some extra work on potential big winners that are on the cusp of buy points. Doing this prep work means you can focus on the best stocks, with a level head. It’ll help you avoid buying extended.

Don’t get too concentrated, be ready to cut losers and be cautious heading into earnings. These rules will help protect you from gap downs, such as TOST stock Thursday.

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

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

YOU MAY ALSO LIKE:

Why This IBD Tool Simplifies The Search For Top Stocks

Want To Get Quick Profits And Avoid Big Losses? Try SwingTrader

Best Growth Stocks To Buy And Watch

IBD Digital: Unlock IBD’s Premium Stock Lists, Tools And Analysis Today

Tesla Vs. BYD: EV Giants Vie For Crown, But Which Is The Better Buy?

DoorDash Dow Earnings fall FSD Futures hit hot inflation Jones market Rally Recall Runs Tesla
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

80 Funny Summer Quotes for Laughs, Stress Relief and a Hilarious Hot Season

April 25, 2025

Ending China’s De Minimis Exception Brings 3 Benefits for Americans

April 17, 2025

The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

April 17, 2025

Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

April 17, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Fake Indian ‘Pocahontas’ Warren Gets Absolutely ROASTED on Twitter for Complaining About the SCOTUS Decision on Affirmative Action | The Gateway Pundit | by Mike LaChance

June 30, 2023

Crime, Inflation Driving Up Auto Insurance Costs For Average Americans

September 21, 2023

Joe Biden Signs Debt Ceiling Bill Into Law, Averting Default

June 3, 2023

Taliban Meets China’s Huawei to Install ‘Advanced Camera System’ in Afghanistan

August 16, 2023
Don't Miss

Three Treatment Options To Consider

Lifestyle May 9, 2025

The most common cause of hair loss in men is male androgenetic alopecia (MAA), otherwise…

Microsoft Bans Employees From Using ‘Chinese Propaganda’ Chatbot

May 9, 2025

How Smart Mattresses Improve Sleep Quality For Couples

May 9, 2025

OpenAI CEO Warns: ‘Not A Huge Amount Of Time’ Until China Overpowers American AI

May 9, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,112)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,629)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

Fed’s Daly says she is not sure if need to hold rates, or go higher

September 22, 2023

Veteran ESPN Director Kyle Brown Dies at 42

June 12, 2023

34-year-old WWE Superstar breaks character after things became “personal” in ruthless match

July 27, 2023
Popular Posts

Three Treatment Options To Consider

May 9, 2025

Microsoft Bans Employees From Using ‘Chinese Propaganda’ Chatbot

May 9, 2025

How Smart Mattresses Improve Sleep Quality For Couples

May 9, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.