Dow Jones gains; 3 Warren Buffett shares eye listings; The Tesla share appears in the production report

Dow Jones gains;  3 Warren Buffett shares eye listings;  The Tesla share appears in the production report
Dow Jones gains;  3 Warren Buffett shares eye listings;  The Tesla share appears in the production report

The Dow Jones Industrial Average closed higher as stocks tried to fight back from recent losses. A trio of Warren Buffett stocks see entries themselves as Berkshire Hathaway (BRKB) was almost flat after earnings. Peter Thiel company Palantir Technologies (PLTR) fell despite announcing cutbacks. Tesla (TSLA) appeared on a production report.


Meanwhile, a trio of stocks attempted to break out during the positive action Myers Industries (A LOT), International Seaways (INSW) and Genuine parts (GPC) all tested entries.

The interest rate on the benchmark index for 10-year government bonds fell by 2 basis points to 3.93%. Oil fell, with West Texas Intermediate crude falling nearly 1% in trading to just under $76 a barrel.

Nasdaq Gains, IBD 50 Shines

The current upswing in the market has been under pressure in recent weeks. Shares tried to dig in Monday amid recent losses, but closed only modestly higher.

The Nasdaq faded into late but still rose 0.6%. The sea (SGEN) fared best here with a jump of 10.4%. It increased on a Wall Street Journal report Pfizer (PFE) is in talks to buy the pharmaceutical manufacturer.

The S&P 500 was well among the day’s tops as it rose 0.3%. Enphase Energy (ENPH) was among the best performers here, rising 5.9%.

The S&P 500 sectors ended mostly positive. Technology, industry and discretionary consumers fared best. Tools and health limped.

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Small caps also faded, with the Russell 2000 rising 0.3%. Growth stocks fared better, with the Innovator IBD 50 ETF (FFTY) up 1.3%.

Dow Jones today: Apple Stock, Caterpillar Flex

The Dow Jones Industrial Average ended with a modest gain of less than 100 points. It rose 0.2 percent.

apple ( AAPL ) was among the top performers as it rose 0.9%. AAPL is up more than 18% so far this year.

But larva (CAT) was the top stock on the Dow Jones today, rising 1.6%. It will be looking to reclaim the 50-day moving average going forward, MarketSmith analysis shows.

Walgreens Boots Alliance (WBA) and Intel (INTC) were the worst Dow performers. WAL fell 1.1% while INTC fell 1%.

3 Warren Buffett shares eye stakes as Berkshire wins

Berkshire Hathaway stock managed to fight its way up after struggling following the company’s latest earnings report over the weekend. It ended the session up 0.2%.

Net income fell 54% year-over-year to $18.164 billion in the fourth quarter, and 75% to $22.819 billion for the full year. This largely reflected a decline in the equity portfolio.

For the year, Berkshire disclosed record operating income of $30.793 billion, up 12.2% from 2021.

The BRKB share is trading just below its 50-day moving average in steady movement. It is far from a buy point at 362.20. However, an alternative entry can be found at 321.42.

While BRKB struggled, a trio of Warren Buffett stocks traded near buy points.

American Express (AXP) has formed a cup-with-handle base. It is just below an ideal buy point of 182.25. This is a first-level base.

Bank of America (BAC) has also formed a first-stage cup-with-handle base. It shoots for a buy point of 37.10.

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Jefferies Financial (JEF) is trading in a buy zone after previously breaking out of a flat base. The ideal entry here was 36.97. Investors may want to see how it handles a test of the 50-day moving average.

Peter Thiel Stock Palantir down despite job cuts

Palantir shares were slightly negative despite the firm announcing that it is cutting 2% of its workforce.

It is a relatively meager sum considering that the firm has around 3,838 employees, according to an SEC report in December.

Palantir Technologies specializes in Big Data analytics. The founders include billionaire Peter Thiel, who was also a co-founder PayPal (PYPL).

The PLTR share ended the session down 0.7%. It is trading below a cup-with-handle entry of 10.41. It has had a strong year so far, up nearly 26%.

Tesla stock appears on production report; Fisherman jumps

Tesla stock had a good day, jumping 5.5%. It was boosted by news that the Gigafactory Berlin-Brandenburg reached a production rate of 4,000 vehicles per week ahead of schedule, according to Reuters.

The company’s eccentric CEO Elon Musk had previously compared Tesla’s new factories to “giant money furnaces”.

Tesla is about to arrange its last investor day on Wednesday. Musk is expected to reveal details of his long-awaited “Master Plan 3.”

TSLA stock is trading just below its 200-day moving average. It has increased by more than 92% since the start of 2023.

Fisherman (FSR) surged 30.3% higher after the firm maintained its 2023 auto production target. It also said it spent less than expected in the 2022 fiscal year.

This was enough for investors to overlook a fourth-quarter loss per share of 54 cents, which was higher than analysts expected. The income also came during screenings.

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Outside the Dow Jones: 3 test buy points for stocks

A trio of notable stocks attempted to break out on Monday.

Packaging major Myers Industries is in a buy zone after passing a flat-base entry of 25.21 for the thinly traded stock.

The relative strength line has reached new highs, a bullish sign. All-around performance is strong, with its IBD Composite Rating a strength of 97 out of 99.

International Seaways broke out of a cup base. It closed just above the entry point of 48.22. The RS line also hit a new high.

Developments in the stock market are very strong. It is among the top 2% of stocks in terms of price performance over the last 12 months.

Genuine Parts tested a cup with handle entry of 180.85 best seen on the weekly chart. However, the stock reversed lower and gave up 0.3%.

Big Money has been buying GPC stock recently, with the Accumulation/Distribution rating at B-.

Follow Michael Larkin on Twitter at @IBD_MLarkin for more growth stock analysis.


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