Dow Jones futures gave up early gains to reverse lower Friday as high-level Russian and American officials planned to meet next week in a last-ditch diplomatic push. Deere, DraftKings and Roku were key earnings movers ahead of the market open.
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Among the Dow Jones leaders, Apple (AAPL) rose 0.6% and Microsoft (MSFT) traded up 0.5% in today’s stock market. American Express (AXP), a Dow Jones stock to watch, is still in buy range following a recent breakout.
Electric-vehicle leader Tesla (TSLA) traded flat premarket Friday, looking to recover a part of Thursday’s tumble.
Amid a volatile stock market rally, Anthem (ANTM), Northern Oil & Gas (NOG), Deere (DE) and Wyndham Hotels & Resorts (WH) are among Friday’s top stocks to buy and watch. All four stocks are in or near new buy zones.
Microsoft and Tesla are IBD Leaderboard stocks. Northern Oil & Gas was Tuesday’s IBD 50 Stocks To Watch pick. Wyndham was Tuesday’s IBD Stock Of The Day.
Dow Jones Today: Russia-Ukraine Crisis
Ahead of the stock market open Friday, Dow Jones futures traded down 0.15% vs. fair value, while S&P 500 futures lost 0.1%. Nasdaq 100 futures erased early gains to trade flat in morning trade. Among exchange-traded funds, the Nasdaq 100 tracker Invesco QQQ Trust (QQQ) rose 0.1%, and the SPDR S&P 500 ETF (SPY) moved down 0.1% before Friday’s open.
The 10-year Treasury yield held steady at around 1.97% Friday morning. On Thursday, the 10-year Treasury yield closed just above 1.97%. Meanwhile, U.S. oil prices slid nearly 2% Friday. West Texas Intermediate crude dropped to below $89 a barrel.
Secretary of State Anthony Blinken will meet with Russian Foreign Minister Sergey Lavrov late next week, a State Department spokesman said Thursday night, “provided there is no further Russian invasion of Ukraine.” Meanwhile, President Joe Biden plans to host a call Friday with French President Emmanuel Macron, German Chancellor Olaf Scholz, British Prime Minister Boris Johnson and others to discuss Russia’s military buildup.
At the Russia-Ukraine border, heavy artillery, tank and mortar exchanges picked up Friday morning all along the cease-fire line, per the Wall Street Journal. And a top U.S. official in Europe estimated Russia had some 169,000-190,000 personnel near Ukraine, up from about 100,000 as of Jan. 30.
Stock Market Rally Struggles
The stock market posted more disappointing action Thursday, as the major stock indexes closed with heavy losses. Amid the recent volatility, now is an important time to read IBD’s The Big Picture column.
Thursday’s The Big Picture commented, “The stock market sold off Thursday on escalating Russia-Ukraine tensions, as the S&P 500 broke below a key level, placing an already struggling uptrend even under more duress.”
If you’re new to IBD, consider taking a look at its stock trading system and CAN SLIM basics. Recognizing chart patterns is one key to the investment guidelines. IBD offers a broad range of growth stock lists, such as Leaderboard and SwingTrader.
Investors also can create watchlists, find companies nearing a buy point, or develop custom screens at IBD MarketSmith.
Four Dow Jones Stocks To Watch Now
Stock Market Earnings: Deere, DraftKings, Roku
Deere, DraftKings (DKNG) and Roku (ROKU) reported earnings ahead of Friday’s market open.
Deere reported strong fiscal first-quarter results early Friday, sparking a better-than 1% rise in morning trade. DE stock closed just below a cup-with-handle’s 388.20 buy point after Thursday’s 2.6% decline.
DraftKings dived more than 13% after the company’s fourth quarter results early Friday. DKNG stock finished Thursday about 70% off its 52-week high.
Roku missed Wall Street’s sales target for the fourth quarter and guided lower for the current quarter and year ahead. It blamed hardware shortages for the miss and cautious outlook. Roku shares crashed 26% premarket Friday.
Dow Jones Stocks To Watch: American Express
American Express broke out past what IBD MarketSmith chart analysis plotted as a cup base buy point at 189.13. Shares are still in the 5% buy range that tops out at 198.59. AXP stock traded up 0.5% premarket Friday.
Bullishly, the stock’s relative strength line is at new highs, indicating significant stock market outperformance.
Four Top Growth Stocks To Watch In The Current Stock Market Rally
Stocks To Buy And Watch: Anthem, Northern, Wyndham
IBD Leaderboard stock Anthem is about 4% away from a 470.12 flat-base entry following Thursday’s 1.6% fall. But the stock is still holding above its 50-day line. Anthem shares were unchanged premarket Friday.
Tuesday’s IBD 50 Stocks To Watch pick, Northern Oil & Gas, is about 5% away from a cup with handle’s 25.57 buy point, according to IBD MarketSmith chart analysis. NOG shares were down 0.5% premarket Friday.
Tuesday’s IBD Stock Of The Day, Wyndham Hotels, is trying to break out past a flat base’s 91.51 buy point, but fell further below the entry during Thursday’s 3.1% fall. WH shares traded flat premarket Friday.
Join IBD experts as they analyze leading stocks in the current stock market rally on IBD Live
Tesla Stock
Tesla stock traded flat Friday morning, looking to recover a part of Thursday’s 5.1% skid. The stock remains above its long-term 200-day moving average, but is still sharply below the 50-day moving average. There is no proper entry in sight, as the stock continues to consolidate.
The stock traded as high as 1,243.49 on Nov. 4, but ended Thursday about 30% off that all-time high.
Dow Jones Leaders: Apple, Microsoft
Among Dow Jones stocks, Apple stock declined 2.1% Thursday, falling below the key 50-day line. Shares are building a cup-with-handle base with a 176.75 buy point. Apple shares rose 0.6% premarket Friday.
Software leader Microsoft lost 2.9% Friday, as the top Dow Jones stock gave up support around its long-term 200-day line. MSFT stock moved up 0.5% Friday morning.
Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones Industrial Average.
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