{"id":145748,"date":"2023-01-30T08:00:00","date_gmt":"2023-01-30T00:00:00","guid":{"rendered":"https:\/\/www.mediaintel.asia\/?p=912971"},"modified":"2023-01-30T08:00:00","modified_gmt":"2023-01-30T00:00:00","slug":"dow-jones-futures-fall-with-fed-meeting-in-sight-tesla-stock-upgraded-to-buy-after-33-surge","status":"publish","type":"post","link":"https:\/\/www.chinalegalblog.com\/en\/2023\/01\/30\/dow-jones-futures-fall-with-fed-meeting-in-sight-tesla-stock-upgraded-to-buy-after-33-surge\/","title":{"rendered":"Dow Jones Futures Fall With Fed Meeting In Sight; Tesla Stock Upgraded To Buy After 33% Surge"},"content":{"rendered":"
\"MediaIntel.Asia\"<\/a><\/div>\n

Dow Jones futures fell sharply Monday as the market looks to wrap up on strong January performance. The Federal Reserve's policy meeting headlines the week, with a key decision also due from OPEC. Apple supplier NXP Semiconductors (NXPI) will report its quarterly earnings results after Monday's close, kicking off another busy week of earnings reports. Meanwhile, Tesla stock received a buy upgrade following last week's 33% surge.
\nX
\nThe Fed's two-day meeting will start Tuesday, and the central bank is widely expected to raise the target federal funds rate by 25 basis points, to a range of 4.5% to 4.75%. Investors place a 99% probability of that size hike, according to the CME's FedWatch tool.
\nTech titans Amazon (AMZN), Apple (AAPL), Alphabet (GOOGL) and Meta Platforms (META) will report this week, along with Exxon Mobil (XOM), Dow Jones member Merck (MRK) and Starbucks (SBUX). Automakers Ford (F) and General Motors (GM) are also due to report.
\nInvesting Action Plan \u2014 January Wrap: Apple, OPEC, Exxon And The Fed
\nStock Market Today
\nElectric-vehicle leader Tesla reversed early losses to rise nearly 1% Monday morning, looking to add to last week's big gains. Dow Jones tech giants Apple (AAPL) and Microsoft (MSFT) were lower ahead of today's stock market open.
\nIBD Leaderboard stock Axon Enterprise (AXON), recent IBD Stock Of The Day Etsy (ETSY), Monster Beverage (MNST) and Vertex Pharmaceuticals (VRTX) \u2014 as well as Dow Jones stocks Chevron (CVX) and JPMorgan Chase (JPM) \u2014 are among the top stocks to buy and watch, with the ongoing strength of the market rally.
\nAxon is an IBD Leaderboard stock. Etsy and Vertex were recent IBD Stocks Of The Day. Axon and JPMorgan were featured in last week's Stocks Near A Buy Zone column.
\nIBD's latest newsletter MarketDiem gives you actionable ideas for stocks, options and crypto right in your inbox
\nDow Jones Today: Oil Prices, Treasury Yields
\nAhead of Monday's opening bell, Dow Jones futures dropped 0.6% vs. fair value, and S&P 500 futures moved down 0.9%. Nasdaq 100 futures sold off 1.2% in morning action. China-based online retailer JD.Com (JD) dropped more than 4%, the Nasdaq's hardest hit, after announcing it was exiting its operations in Thailand and Indonesia.
\nAmong U.S. exchange-traded funds, the Nasdaq 100 tracker Invesco QQQ Trust (QQQ) lost 1.1% and the SPDR S&P 500 ETF (SPY) traded down 0.8% early Monday.
\nThe 10-year U.S. Treasury yield ticked higher to 3.55% Monday morning, looking to extend a win streak to three sessions. Last week, the 10-year yield barely ended a three-week losing skid.
\nOil prices were essentially flat as markets look toward this week's OPEC meeting. West Texas Intermediate futures held just below $80 a barrel. Ministers from the Organization of Petroleum Exporting Countries and its allies, including Russia (OPEC+) will meet on Wednesday. OPEC is widely expected to maintain current oil production levels but may discuss possible policy tweaks.
\nStock Market Rally
\nOn Friday, the Dow Jones Industrial Average extended a win streak to six sessions with a 0.1% rise. The S&P 500 gained 0.25%, while the Nasdaq composite outperformed, rallying 0.95%.
\nFriday's The Big Picture column commented, \"Given recent bullish action, IBD recommends increasing exposure to 60% to 80%. But be ready to move quickly as things can rapidly change on the stock market.\"
\nNow is an important time to read IBD's The Big Picture column amid the ongoing stock market rally.
\nFive Dow Jones Stocks To Buy And Watch Now
\nDow Jones Stocks To Buy And Watch: Chevron, JPMorgan
\nEnergy giant Chevron dived 4.4% Friday after the company's earnings results. Shares are adding a handle to a cup base, lowering the entry from 189.78 to 187.91, according to IBD MarketSmith chart analysis. CVX stock fell another 0.4% Monday morning.
\nBanking giant JPMorgan is in buy range above a 138.76 flat-base buy point amid a six-day win streak. JPM shares were down 0.7% Monday morning.
\nJPM stock shows a solid 94 out of a perfect 99 IBD Composite Rating, per the IBD Stock Checkup. The Composite Rating is designed to help investors easily find top growth stocks.
\n4 Top Growth Stocks To Buy And Watch In The Stock Market Rally
\nTop Stocks To Buy And Watch: Axon, Etsy
\nSecurity leader Axon fell 0.4% Friday, still in the 5% buy range above a 189.72 buy point in a cup-with-handle base. The buy zone tops out at 199.21. Axon shares were down 0.6% Monday morning.
\nBackstory: Formerly known as Taser International, the company has taken advantage of the business opportunity offered by public demands for more oversight of police departments. Its line of body cameras and accompanying software are now market leaders. The Scottsdale, Ariz.-based company also boasts a cloud-based digital evidence platform.
\nEtsy is back above a 137.01 buy point in a cup with handle after Friday's 2.4% rally. The 5% buy area goes up to 143.86. ETSY stock lost 1% Monday.
\nBackstory: The company is a provider of an online e-commerce platform where creators of arts and crafts, vintage items and other unique goods go to sell their products. It has a unique business model that, in the last few years, has gone from a niche e-commerce marketplace to a top-of-mind shopping destination across numerous categories.
\nMonster, Vertex Eye Buy Points
\nMonster Beverage is nearing a breakout past a flat base's 104.75 buy point despite Friday's 1.1% decline. MNST stock was off 1% early Monday.
\nBackstory: Monster Beverage leads an energy-drink duopoly with privately held competitor Red Bull. The company's portfolio of energy drink brands include Monster Energy, Reign and NOS Energy.
\nMonster dominates energy drinks in the U.S. and claimed a 39% market share last year, according to Jefferies data, resulting in a record $5.5 billion in revenue for the company. Red Bull accounted for 37% of the American energy drink market in 2021. Upstart Celsius (CELH), which is on an impressive growth streak, claimed 4.9% of the market.
\nRecent IBD Stock Of The Day, Vertex Pharmaceuticals, is within striking distance of a 324.85 buy point in a cup base after a sixth straight gain Friday. Quarterly earnings are due out Feb. 7. VRTX stock was edged lower Monday.
\nBackstory: The company is well-known for its cystic fibrosis treatments \u2014 a market that Vertex estimates at 88,000 patients. Of those, there are still 20,000 patients who could receive its old-school oral treatments. But analysts are watching for what's new from Vertex, including an updated regimen of three drugs that could strengthen Vertex's position against rival AbbVie (ABBV).
\nStocks To Buy And Watch In Stock Market Rally
\nThese are seven top stocks to buy and watch in today's stock market, including three Dow Jones leaders.
\nCompany Name Symbol Correct Buy Point Type Of Base Monster (MNST) 104.75 Flat base Vertex (VRTX) 324.85 Cup base Axon (AXON) 189.72 Cup with handle Etsy (ETSY) 137.01 Cup with handle JPMorgan (JPM) 138.76 Flat base Chevron (CVX) 187.91 Cup with handle Visa (V) 220.08 Cup with handle
\nSource: IBD Data As Of Jan. 30, 2023
\nJoin IBD experts as they analyze leading stocks in the current stock market rally on IBD Live
\nTesla Stock
\nTesla stock surged another 11% Friday, extending a win streak to six sessions and pushing the stock sharply above its 50-day line. Despite their strong rebound since Jan. 6, shares are still below their 200-day line. Tesla stock closed about 54% off its 52-week high.
\nShares of the EV giant reversed higher, moving up nearly 1% Monday morning after receiving an upgrade at Berenberg from hold to buy. The new price target is 200, down from 255.
\nDow Jones Leaders: Apple, Microsoft
\nAmong Dow Jones stocks, Apple shares rallied 1.4% Friday, propelling the stock near its long-term 200-day line. The 200-day line will likely be a key resistance area to watch. The stock is around 20% off its 52-week high. Apple will report its quarterly earnings on Thursday. AAPL stock traded down 1.1% Monday.
\nMicrosoft stock rose 0.1% Friday, moving further above its recently retaken 50-day line, which is bullish for the stock's immediate prospects. Still, shares remain 21% off their 52-week high. Shares were down 1.4% early Monday.
\nBe sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones Industrial Average.
\nYOU MAY ALSO LIKE:
\nTop Growth Stocks To Buy And Watch
\nLearn How To Time The Market With IBD's ETF Market Strategy
\nFind The Best Long-Term Investments With IBD Long-Term Leaders
\nMarketSmith: Research, Charts, Data And Coaching All In One Place
\nHow To Research Growth Stocks: Why This IBD Tool Simplifies The Search For Top Stocks<\/p>\n

This data comes from MediaIntel.Asia's Media Intelligence and Media Monitoring Platform<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Dow Jones futures fell sharply Monday as the market looks to wrap up on strong January performance. The Federal Reserve's policy meeting headlines the week, with a key decision also due from OPEC. Apple supplier NXP Semiconductors (NXPI) will report i…<\/p>\n","protected":false},"author":253,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[126,669,144,49,325,360,194,1108,1002,249,465,78],"tags":[2263,5567,7705,10410,10333,6389,3929,2858,6823,2214,10315,7571,7327,8399,2881],"class_list":["post-145748","post","type-post","status-publish","format-standard","hentry","category-apple","category-bank","category-china","category-e-commerce","category-education","category-microsoft","category-news-chinese-law","category-police","category-retail","category-russia","category-social-media","category-software","tag-amazon","tag-bitcoin","tag-blockchain","tag-coffee","tag-crypto","tag-electric-vehicle","tag-espionage","tag-etf","tag-fintech","tag-indonesia","tag-media-intelligence","tag-oil","tag-revenue","tag-spy","tag-starbucks"],"_links":{"self":[{"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/posts\/145748"}],"collection":[{"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/users\/253"}],"replies":[{"embeddable":true,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/comments?post=145748"}],"version-history":[{"count":1,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/posts\/145748\/revisions"}],"predecessor-version":[{"id":145749,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/posts\/145748\/revisions\/145749"}],"wp:attachment":[{"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/media?parent=145748"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/categories?post=145748"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/tags?post=145748"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}