Dow Jones index jumps, tech stocks rise to record highs as Congress approves Biden victory

The Dow Jones Industrial Average rose more than 300 points on Thursday, as Congress validated President-elect Biden’s victory. President Trump has pledged an “orderly transition” of power. Apple and Baidu shares jumped on the stock market open, while Tesla jumped to all-time highs after analysts promoted.

X

between the Dow Jones leadersAnd the an Apple (AAPLIt rose 2.4% while Microsoft (MSFTIt rose 2.7% in Stock market today. visa (FifthIt rose 1%, on its way to snapping a three-day losing streak.

Tesla (TSLARaised more than 5% on RBC Capital upgrade, reaching an all-time high.

Stocks in or near buying areas at the current stock market rise are Medivast (With), Pinterest (Pins) And the Targeting (TGT).

Apple, Microsoft, Target and Tesla Stock IBD Leaderboard. Pinterest is a file IBD SwingTrader Stock and Also appeared In this week The stocks are near the buying area pole. Medifast was Stock today, Wednesday IBD.

Dow Jones today: Congress confirms Biden / Harris Wayne

On Thursday, the Dow Jones Industrial Average rose 0.9%, while the S&P 500 index added 1.5%. The tech-heavy Nasdaq Composite Index advanced 2.3% at midday. All three major stock indices hit records.

Early Thursday, Congress confirmed the Electoral College vote count, validating President-elect Joe Biden’s victory in the presidential election on November 3. Biden and Vice President-elect Kamala Harris are scheduled to be sworn in on January 20.

The current situation He tweeted out about Trump’s social media manager Dan ScavinoPresident Donald Trump stated, “Although I do not completely agree with the election result, and the facts confirm this, there will be an orderly transition on January 20 …”.

in between Exchange of traded fundsIBD 50 innovatorfiftyIt rose 2.2% on Thursday. The Nasdaq 100 Invesco QQQ Trust ETFQQQIt rose 2.1%. Meanwhile, the SPDR S&P 500 ETF (spy), 1.4%.

Top 100 stocks of 2020

Coronavirus updates

according to Worldometer data tracker, The cumulative number of confirmed coronavirus cases in the United States surpassed 21.8 million on Thursday. The total deaths associated with the virus have risen to more than 370,000.

The cumulative total of confirmed Covid-19 cases worldwide since the start of the outbreak surpassed 87.7 million Thursday, with more than 1.89 million virus-related deaths.

Coronavirus stock market rally

Given the current bullish trend, November has been a major month for the stock market. IBD’s The Big Picture Marked a new bullish trend in the wake of the bullish market follow-up day on November 4th. Meanwhile, the year 2021 begins with stocks rising from their all-time highs. Be sure to check out World Bank stock market forecast for 2021.

Wednesday’s big picture Mainstream trading of the stock market, “Hundreds of miles north of Washington, DC, a swarm of issues in construction, banking, commodities and other cyclical sectors dominated the movement on Wall Street.”

Investors should continue to use stock market power to buy breakouts. Be patient and wait for strong breakouts rather than chasing the extended stocks. If new hacks work, add more exposure. But if the breakouts start to fail, you can hold back.

In particular, focus on stocks with strong relative strength. Find it using Relative strength line. The RS line measures the stock price performance against the S&P 500 Index. If the stock outperforms the broader market, the RS line tilts upward. If the stock is performing worse than the broad market, the line will indicate a decline.

Stocks to Watch: IBD Long-Term Leaders

Includes stocks to watch Long-term leaders of IBD, Companies with steady earnings growth and price performance. Viva Systems (VEEV) Do you Latest addition to the list, As she tries to recover the 10-week streak. Shares were up 3.1% on Thursday, close to 314.09 buying points at the base of the cup.

ETF Stock Market Strategy and How to Invest

Dow Jones Indices To Watch: Visa Rises

Stock today, Wednesday IBDLess than 217.75, about 2%. Point purchase In a flat base, according to IBD Market Smith Graph analysis. Stocks broke out on December 30th, but quickly encountered strong resistance.

Shares rose 1% Thursday morning.

Stocks in or near Buying Zones: Medifast, Pinterest, and Target

Stock today, Wednesday IBDMedifast broke through 208.67 buy point on Wednesday, closing in 5% buy territory of 219.10. Shares rose 1.6% Thursday morning, pushing the stock out of the buying range.

To the upside, the stock RS line reached a new high on the breakout. The Relative Strength Line measures the performance of the stock’s price against the broad market.

IBD SwingTrader Pinterest stock continues to recover from its 10-week streak amid Thursday’s rally of 2.8%.

to me Inventory check for IBDAnd the Pinterest Stock It shows 88 out of 99 ideal IBD compound classification. A composite rating – an easy way to identify the highest-growing stocks – is a combination of key technical and fundamental metrics to help investors gauge a stock’s strengths.

IBD Leaderboard The target member remains in buying territory above 181.27 buy points at A. Flat base, to me IBD Market Smith Graph analysis. Shares rose 4.7% on Wednesday and are at the top of the buying territory by 5% that rose to 190.33. Shares rose 1.4% early Thursday.

According to the Leaderboard commenting, “The previous pattern was a bit short for a flat base, unless you extended the definition and counted 25 days since the high of the October 13 close. But now the stock has a legitimate firm base to work with. It stretches from the ten-week line and the new rule is the third stage. “.

IBD Live: a new tool for daily stock market analysis

Baidu stock

Chinese internet giant Baidu jumped 3% in morning trade Thursday. Shares are down nearly 10% from their all-time high. Baidu plans to sell its shares in Hong Kong as soon as in the first half of this year. According to BloombergThat could raise at least 3.5 billion dollars.

Shares extended sharply from 135.54 long handle cups and November test of 50 day support level. The inventory has been in disrepair since reports that the company is considering producing electric cars.

Tesla Stock

IBD Leaderboard Tesla stock hit all-time highs Thursday morning with a gain of nearly 7%. Stocks are afoot to extend the winning streak to 10 sessions. Early Thursday, RBC Capital raised the leading electric car company from underperforming to sectoral with a price target of 700.

Thursday morning, Tesla stock hit a record high of 811.61. Shares are up as much as 70% from 466 buy-in points in the Handle Cup.

Dow Jones Leaders: Apple and Microsoft

From among the top Dow Jones StocksApple is trying to recover after activating its 7% -8% loss-cutting rule during Monday’s heavy sell-off. Shares are down more than 7%, below 138.08 points at the base of the cup Point purchase That day, according to IBD Market Smith Graph analysis.

Shares were up 2.8% Thursday morning, in an effort to recover from Wednesday’s tumble of 3.4%. In recent weeks, Apple shares have moved above strong entry points at 125.49 and 122.09.

Apple is IBD Leaderboard stock. According to Leaderboard’s comment, “The alternative entry is in the lower half of the base but the RS streak is improving. Apple nearly doubled the breakout in April and it will be difficult to replicate this run. The base is the third stage, which is reason to have lower expectations this time.”

Software giant Microsoft rose 2.2% on Thursday, as stocks continue to track new rule with 228.22 buy points. The stock is trying to recover the major 50-day moving average line after abandoning this support level on Wednesday.

Be sure to follow Scott Lehtonen on Twitter at Embed a Tweet Learn more about stock growth and the Dow Jones Industrial Average.

You may also like:

Top growth stock to buy and watch

Find out how to determine market time using IBD’s ETF Market Strategy

Find the best long-term investments with IBD’s long-term leaders

MarketSmith: Search, Charts, Data and Training in one place

How to Find Growth Stocks: Why IBD simplifies searching for top stocks