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Dow Jones dropped 175 points, despite the optimism of the coronavirus vaccine; Apple shows a new point of purchase



The Dow Jones industrial average fell more than 175 points before cutting losses on Friday afternoon as rising tensions in the United States and China exceeded the optimism of the coronavirus vaccine. Dow Jones stock leader Intel fell further below a new buying point as Alibaba and Nvidia moved in opposite directions after earnings were reported as the current stock market rally continued.




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Technical leaders apple (AAPL) and Microsoft (MSFT) are close to new buying points on today’s stock exchange. The stock leader of the Dow Jones Intel (INTC) fell 0.5% and is further below the point of purchase. IBD stocks Nvidia (NVDA) collected more than 2% of profits. Chinese e-commerce giant Ali Baba (BABA) dives 4.5% on profit results before the stock market opens.

Dow Jones Today: Coronavirus vaccine, tensions in the United States and China

The Nasdaq composite turned into an early loss, by 0.1% on Friday morning. Around 11:45 ET, the S&P 500 fell 0.3%, while the Dow Jones industrialists lost 0.5%.

On Friday, Dr. Anthony Foci, director of the National Institute of Allergy and Infectious Diseases, said early data on a modern coronavirus vaccine looked “promising.” Modern (MRNA) shares jumped 4% in morning trading before gaining earnings to about 2%. The stocks from Moderna have about 20% discount from their highest 52-week period.

China, meanwhile, has announced a new national security law aimed at imposing more control over Hong Kong. This move was seen as a challenge against the United States. Earlier this week, the U.S. Senate passed a bill that could eventually expose U.S. lists of companies based in China.

The latest move comes less than a month after President Trump announced at a White House event on April 30 that he could use tariffs to punish China for the coronavirus epidemic.

Among the stock funds traded on the stock exchange, Innovator IBD 50 (FFTY) traded 0.2% on Friday morning. The ETF of the highest growth stocks has about 15% of its 52-week high. Meanwhile, the Nasdaq 100-linked Invesco QQQ Trust ETF (QQQ) fell 0.15% and the SPDR S&P 500 (SPY) ETF fell 0.3%.

The tech-heavy Nasdaq is again positive for 2020, with 3.5% after the end of Thursday. Meanwhile, the S&P 500 and Dow Jones Industrial Average decreased by 8.7% and 14.2%, respectively, until May 21.


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Coronavirus News: The United States is the best 1.6 million

The coronavirus epidemic continues to spread in the United States. According to Worldometer tracking data, the cumulative number of confirmed cases in the United States exceeded 1.6 million on Thursday. Despite the growing total number, the daily number of new cases tends to be lower against the background of a sharp increase in tests.

Confirmed Covid-19 cases have climbed more than 5.2 million worldwide, with about 335,000 virus-related deaths. As the number of new cases decreases on a daily basis, U.S. investors are paying attention to the economic impact of the coronavirus outbreak and how quickly the country is reopening to business.

Increasing the stock market

According to The Big Picture of IBD, the upward trend in the stock market remains stable, despite losses on Thursday, after reaching low levels nearly two months ago on March 23. Major stock indexes confirmed a new rise on April 2.

In Thursday’s big picture, “With only one day left of Nasdaq’s institutional sales (May 12), the uptrend remains bullish. Meanwhile, the S&P 500 still has only a few days to spread, indicating that positive sentiment is still outweigh the negative “.

Stocks include the best stocks of IBD long-term leaders. IBD’s list of long-term leaders focuses on companies with stable profit growth and price indicators.


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Dow Jones News: Intel gives way to purchase

Among shares of Dow Jones, the chip leader Intel is below a new point of purchase of 62.23 in a cup with a handle after losing the record on Thursday, according to an analysis of the MarketSmith ranking. Intel is one of the best Dow Jones stocks to watch in May. Shares moved 0.5% on Friday morning.

According to IBD Stock Checkup, Intel shares boast the highest possible 99 IBD Composite Rating, placing it in the top echelon of growth stocks. The composite rating is a combination of key fundamental and technical indicators to help investors easily assess the strengths of stocks.

Stock Market News: Alibaba, Nvidia

Chinese e-commerce giant Alibaba was up more than 4%, although it reported better-than-expected revenue and sales on Friday. Shares fell further below a recent buy point and caused a 7% -8% sell-off signal.

On Thursday, Alibaba fell 2.1% to drop 216.20 points for buying a cup with a handle.

The idea for Nvidia’s IBD stock market rose above 2.5% after strong earnings at the end of Thursday. The graphics chip maker beat Street’s revenue and sales estimates.

According to a comment from IBD Leaderboard, “Nvidia has been extended from the point of purchase by 275.50 cups with a handle, as well as by an alternative record of the handle from 299.10. This is a three-quarter position in the ranking.”

The leaders of the Dow Jones: Apple, Microsoft

Apple leader Dow Jones rose 0.1 percent early Friday. New handle offers 319.79 points for purchase. Shares tried to go above that record on Thursday, but closed below that level.

Shares are extending beyond the 5% buy zone to 288.35 point for buying a cup with a handle, according to an analysis of the MarketSmith chart. The buying range of 5% reaches 302.77. The shares are at only 3% of their highest values, almost completing a remarkable recovery from the collapse of the coronavirus exchange.

Apple shares have 93 of the highest possible 99 IBD composite rating.

Technical giant Microsoft fell 0.3% on Friday morning. The software leader is just below the new buying point of 187.51 against the background of a slow-moving switch above the buying point of a cup with a handle of 180.10.

Microsoft is also an idea for IBD stock exchanges and a long-term leader in IBD.

Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more information on growth stocks and the Dow Jones Industrial Average.

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Dow Jones today, stock slip; Modern rides “cautious optimism”: China is suffocating Hong Kong




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