Dow Jones Profits Amidst Rally; Warren Buffett increases this energy stock; Increase in Tesla shares

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Dow Jones Profits Amidst Rally; Warren Buffett increases this energy stock; Increase in Tesla shares


The Dow Jones Industrial Average rose higher as the stock market built Wednesday’s powerful gain. Legendary investor Warren Buffett has been empowered Western oil (OXY) after it emerged Berkshire Hathaway (BRKB) took more of his shares. You are here (TSLA) popped after an analyst’s bullish note.


A trio of noteworthy stocks managed to stage breakout amid the bullish action. Astra Zeneca (AZN), Global Foundries (GFS) and Eli Lilli (LLY) all buy points have exceeded.

Volatility fell, with the Cboe Volatility Index, or VIX, slipping by around 3%. Volume was down on both the New York Stock Exchange and Nasdaq from the same time on Wednesday.

Meanwhile, the yield on the benchmark 10-year Treasury bond was practically flat at 2.19%. Oil surged higher, with West Texas Intermediate crude leaping nearly 8% to around $ 103 a barrel.

The Nasdaq makes money on the roar of rising stocks

The Nasdaq was making a solid 0.9% gain. Shot of the crowd (CRWD) was among the top winners as it increased by more than 7%. MercadoLibre (MELI) also impressed with a gain of over 5%.

The S&P 500 was close to neck with the Nasdaq as it gained 0.9%. The best titles here have been the energetic games. Marathon oil (MRO) was among the strongest names as it rose nearly 7%.

Overview of the US stock market today

Index symbol Price Gain / Loss % change
Dow Jones (0DJIA) 34342.84 +279.74 +0.82
S & P500 (0S & P5) 4396.16 +38.30 +0.88
Nasdaq (0NDQC) 13562.63 +126.08 +0.94
Russel 2000 (IWM) 204.78 +2.84 +1.41
IBD 50 (FFTY) 38.28 +0.75 +2.00
Last updated: 2:52 PM ET 3/17/2022

The S&P sectors were almost all green, with energy and materials having the best returns. Consumer staples and technology were the laggards.

Small caps have eclipsed major indices. The Russell 2000 rose 1.4%.

But it was the growth headlines that were giving the bears the hardest spanking. The Innovator IBD 50 ETF (FFTY), at the forefront of growth stocks, was up 2%.

Dow Stock takes the Dow Jones higher

The Dow Jones Industrial Average was lagging behind but still scored nearly 300 points. This equates to a gain of 0.8%.

It was led higher by the title of the same name Dow Inc. (DOW), which grew by nearly 5%.

American Express (AXP) was also thriving, with an increase of nearly 3%. favorite fast food McDonald’s (MCD) was the most lagging behind, but it only dropped by about 1%.

Warren Buffett pushes OXY shares up

Occidental Petroleum was moving bullish amid rising oil prices and news that Warren Buffett has increased his stake in the company. It has gained over 10% and volume is increasing more than 75% above average levels, according to MarketSmith.

The OXY stock remains well extended from its most recent base. It erupted from a cup base in mid-January. The ideal entry point was 35.85, shows MarketSmith’s analysis.

A Wednesday filing with the SEC showed Buffett’s company Berkshire Hathaway (BRKB) had purchased an additional 18.1 million OXY shares. The document also claimed that the company had paid a weighted average of $ 54.41 per share. Therefore, the total cost was $ 985 million.

The other energy stocks also performed well. Devon Energy (DVN) also grew by more than 8%. abdominal muscles (APA) increased by more than 6%.

Tesla shares rise after analyst call

Tesla shares managed to rise nearly 4% during the bullish action. This saw it return above the 200-day moving average.

Given the recent action, although a longer consolidation period may be in the cards for TSLA shares.

Tesla was boosted after Morgan Stanley reiterated its overweight rating on the stock.

But while the investment bank said there was “huge potential for fully autonomous vehicles,” it also said investor expectations for short-term adoption are overly enthusiastic.

The electric vehicle giant’s performance helped ARK Innovation (ARKK), an exchange-traded fund led by Cathie Wood, increase power by more than 4%.

Tesla stock is a member of the prestigious IBD Leaderboard list of major stocks.

These three titles acquire points

Eli Lilly grabbed attention after passing a cup base with an adequate buy point of 284 in solid, but not great volume. Here, too, the RS line reaches new heights.

Profits rose amid the coronavirus pandemic. However, the pharmaceutical stock boasts a diversified portfolio of drugs beyond Covid-19 treatment.

Lilly now also holds a small position on the IBD rankings.

The pharmaceutical stock AstraZeneca topped a cup with the handle entry of 82.74, although the move was made with less volume than usual.

Overall performance is solid and large gains in equities have been made in recent weeks.

This technological IPO breaks out

The GlobalFoundries IPO title is actionable after beating 73.35 entry into the cup, but shares hit the session high.

GFS has risen up to 30% in just three sessions, so traders may expect a short-term pullback.

The stock began trading in October and the stock improved with a loss of 5 cents per share in 2021 to a profit of $ 1.87 per share in 2022.

Now is a good time to open new positions in the stock market. However, a gradual approach is recommended due to the increased pullback risk due to continued volatility.

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