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A stock market rally signals that you needn’t worry; Tesla CEO Elon Musk Isn’t Responsible for ‘Securing Funding’ Tweets



The stock market rally had another big week, with the Nasdaq rising amid headlines from the latest Federal Reserve outlook to the jobs report to the massive earnings from apple (AAPL), Meta platforms (meta) and more. Dow futures will open Sunday evening, along with S&P 500 futures and Nasdaq futures.


Late Friday, Tesla CEO Elon Musk was found not liable in a class-action shareholder lawsuit over his 2018 “funding lock” tweets in August 2018, when he said he was considering taking Tesla private. Musk also wrote on Twitter that “investor support” has been “confirmed” for a $420-share deal. In fact, the funding wasn’t “secured,” but Musk’s lawyer argued in San Francisco federal court that “at that moment he didn’t think.” TSLA stock rose slightly in the after hours on Friday.

Don’t be surprised to see a downturn in the market after the big gains in recent weeks, with Tesla (TSLA) and Apple stocked aggressively again. Friday may be the beginning of the decline, however (AMZN) is falling due to its weak earnings and expectations. But with the bullish trend showing more signs of being more than just a bear market rally, investors can continue to add exposure gradually over time.


Dow Jones giant Microsoft (MSFT) and lithium giant fertilizer Square meters (Square meters), an auto parts maker automatic life (ALV), pure storage (PSTG) And Freeport McMoRan (FCX) are the stocks near the buy points.

Shares of Microsoft, Autoliv, and FCX have already made gains, while shares of SQM and PSTG haven’t matured for several weeks. MSFT stock is at IBD Long-Term Leaders.

every one of them (on), previously known as ON Semiconductor, early Monday. The EV-focused chipmaker is up 9.8% this past week, breaking the cup base to a new high. But ON stock is now extended.

The video embedded in this article reviewed and analyzed the strong market movement Regeneron Pharmaceuticals (rain) and Microsoft and ALV.

Dow jones futures today

Dow Jones futures open at 6 p.m. ET on Sunday, along with S&P 500 futures and Nasdaq 100 futures.


Remember that overnight action in Dow futures and elsewhere does not necessarily translate into actual trading in the next regular stock market session.

Join IBD experts as they analyze actionable shares in the bullish stock market on IBD Live

Stock market rise

The stock market rally pared Monday’s weakness for a generally strong week.

The Dow Jones Industrial Average fell 0.2% in trading last week. The S&P 500 rose 1.6%. The Nasdaq Composite Index jumped 3.3%. Small cap Russell 2000 rose 3.9%.

Apple stock, which is a constituent of the Dow Jones, S&P 500 and Nasdaq, jumped 5.9% for the week, crossing the 200-day line. Shares fell higher on Friday despite Apple’s weak earnings and revenue.


AMZN stock fell 8.4% on Friday, back below its 200-day moving average, although it closed up 1.1% for the week. Late Thursday, Amazon reported a 98% drop in earnings per share for the fourth quarter. While revenue was slightly outperformed, Amazon posted lower earnings in the first quarter, with higher margin for Amazon Web Services being a major reason.

The 10-year Treasury yield rose 1 basis point to 3.53% for the week, with the yield jumping 13 basis points on Friday on the back of a hot jobs report. During the day on Thursday, the yield fell to 3.33%, the lowest level since Sept. 13.

US crude oil futures plunged 7.9% to $73.39 a barrel last week, with gasoline down 10.5% and natural gas down 12.9%.

Exchange Traded Funds

Among the ETFs, the Innovator IBD 50 ETF (fifty(up 1.25% last week, while the Innovator IBD Breakout Opportunities ETF)fit) jumped 1.9%. iShares Expanded Technology and Software ETF (IGV) rose 2.4%, owning Microsoft’s flagship stock. VanEck Vectors Semiconductor Corporation (SMH) jumped just over 4%, keeping the stock ON modestly.

Reflecting more speculative stories, the ARK Innovation ETF (ARK)ark(jumped 6.1% last week and the ARK Genomics ETF)ARKG) rose 3.7%, continuing its strong performance at the start of 2023. Tesla stock is a major holding via Ark Invest’s ETF. Tesla shares jumped 6.8% to 189.98 for the week, up 87% from the Jan. 6 low in the bear market.


SPDR S&P Metals & Mining ETFs (XME) advanced 1.45% last week. Global Infrastructure Development Fund X US (cradle) rose 4%, snapping a 13-month consolidation run to a record high. US Global Gates Foundation ETF (Planes) climbed 2.2%. SPDR S&P Homebuilders ETF (XHB) increased by just over 6%. Energy Defined Fund SPDR ETF (xle) fell 5.7%, wiping out several weeks of meager gains. SPDR Financial Selection Fund (45) increased by 1%. SPDR Health Care Sector Selection Fund (XLV) fell by 0.1%, which was the sixth modest weekly decline in a row.

Top five Chinese stocks to watch now

Stocks near buy points

Autoliv stock fell 2.7% last week to 90.27, consolidating after rising 9% on January 27 after strong earnings. ALV stock is in a buy range from the 89.98 base low. But investors can look at the latest stop as an indication of a rule that goes back to November 2021. The buy point of a cup with a handle is 93.88. Several other auto parts stocks are showing strength in 2023.

Pure Storage jumped 5.7% for the week to 29.91, up decisively from its major moving averages. PSTG stock has a 31.33 double bottom buy, but is actually actionable by clearing a downward sloping trendline at that base on Wednesday. Volume has been strong as Pure Storage has rebounded in the past two weeks. The RSI line is dull at best, reflecting sideways movement over the past year. But while PSTG stock hasn’t rebounded as quickly as some of the growths, it hasn’t fallen in 2022 either.

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FCX stock fell 3.7% to 43.16 last week, closing below the 21-day line as copper prices fell. FCX stock has a narrowing pattern for three weeks with 46.83 buy points. Investors can also use that as a replacement handle or handle on a 10-month basis.

Microsoft stock jumped 4.1% to 258.35 last week, even as Friday fell 2.4%. Stocks broke a bottom base formed below the 200-day line. But the breakout on Thursday cleared the 200-day line and the year-long trend line. Investors could treat this move as a place to enter MSFT stock as a long-term leader.

SQM stock has regained the main moving averages and is operating on a double bottom base with 112.45 buy points, according to MarketSmith analysis. Shares rose 2.6% to 97.09 last week. SQM stock could carve a handle or some form of early entry. SQM stock likely won’t be reported until March, but lithium peers are Albemarle (ALB) And Levent (LTHM) earnings release in less than two weeks. Albemarle has already reported strong preliminary results for the fourth quarter and has given an overall bullish outlook.

SQM stock and Albemarle are notable assets in the Global X Lithium & Battery Tech ETF (lit). Tesla stock, China EV, and giant batteries BYD (I will) are also big holdings, along with China and other Asian battery makers. The LIT ETF finds support at the 200-day line, just below its double base.

Tesla vs. BYD: EV Giants Vy for the Crown, But Which One is a Better Buy?


Market rally analysis

The stock market rally had another impressive week. After sliding on Monday, the Nasdaq, S&P 500 and Russell 2000 posted strong weekly gains, decisively above their 200-day lines and late 2022.

The Dow Jones is lagging, but has found support and is not far from its recent highs.

Some major sectors or groups have faltered, but in general blue-chip stocks have broken out, flashed buy signals, built up or simply extended recent big gains.

All of this is happening amid economic data and earnings reports that are often mixed at best.

The late August highs are the next test of the market rally, with the Russell 2000 around the corner and the S&P 500 not far behind.


However, evidence is mounting that the market bull has real legs, not just another bear market rally.

Perhaps the biggest complaint about the current market rally is that it is too strong. The Nasdaq has been trading for five straight weeks. Friday’s decline may have been the start of a much needed pause or pullback for the major indices. This will allow stocks to form handles or pull back to key support levels. Looks like a lot of interesting stocks are overextended.

One question is whether Tesla, year (year) and other ARK-type speculative growth names continue to rise or stabilize.

The US dollar hit multi-month lows on Wednesday after the Fed’s meeting, but then rebounded on Thursday and Friday for a solid weekly gain. The dollar’s sharp downward trend in recent months has been a major factor in the recovery in stock market fortunes. After Friday’s jobs report, markets are now leaning towards a quarter point rate hike.

It’s time to market with IBD’s ETF Market Strategy


What are you doing now

With the market still rallying for several weeks, most buying and breakout opportunities have worked. So the investors should have benefited.

But do it wisely. Add exposure gradually, so you don’t get caught pulling out. New buying is likely to dry up briefly if the market pauses, but this could clear the way for more entries.

Don’t focus too much on a particular stock or sector. Cut losses.

Spend some time working on your watchlists this weekend, and make sure you’re looking for quality stocks from a variety of sectors. Determine your main goals, and do more analysis on these potential purchases.

After a rough 2022, the new year is off to a great start. So stay connected and ready to go.


Read the big picture every day to stay in sync with the market trend, leading stocks and sectors.

Please follow Ed Carson on Twitter at @tweet For stock market updates and more.

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Rast’s accusations against Alec Baldwin were formally dismissed by Reuters




© Reuters. FILE PHOTO: A view of the movie “Rust” playing at Bonanza Creek Ranch near Santa Fe, New Mexico, US January 20, 2023. REUTERS/Drone Base/File Photo

Written by Andrew Hay

TAOOS, New Mexico (Reuters) – Special prosecutors in New Mexico on Friday dropped charges against actor Alec Baldwin in the 2021 shooting of “Rust” cinematographer Halina Hutchins, referring to what many legal analysts described as a rationale for a prosecution. flawed jurisprudence.

A person close to prosecutors said the move followed new evidence of the gun Baldwin was carrying when he fired the shot that killed Hutchins while shooting the movie in Santa Fe, New Mexico.

This information undermined the prosecution’s case after a series of legal flops, leading them to dismiss the charges before a May hearing when a judge was to decide whether there was enough evidence to prosecute Baldwin and gunsmith “Rust” Hannah Gutierrez Reid.


“The case was dismissed without bias and the investigation is active and ongoing,” prosecutors Carey Morrissey and Jason Lewis said in a memo.

Prosecutors went on to charge Gutierrez Reed, 25, with manslaughter. She has said she held the live round in the gun thinking it was a dummy round. The preliminary hearing in her case has been postponed to August 9.

The dismissal of the same charge against Baldwin came after his attorney presented evidence last week that the copy of the .45 Colt Baldwin has used has been modified with new parts since being manufactured by Italian gunsmith FLL Pietta.

The information compromised the prosecution’s argument that the gun was in fully working condition and could only fire if Baldwin recklessly pulled the trigger, according to the person familiar with the case.

Special prosecutors have said they may re-file charges against Baldwin once new evidence is examined, though legal experts are skeptical.


“This very weak case against Baldwin should never have been brought in the first place,” said Ambrosio Rodriguez, a former district attorney with the District Attorney’s Office in Riverside County, California.

Filming for “Rust” resumed in Montana this week with many of the same lead actors, including Baldwin, and was expected to wrap up in May.

Rust Movie Productions (RMP) said in February that it would not resume filming in New Mexico, without giving a reason. A Santa Fe prosecutor charged Baldwin and others in January.

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Leading news reporter Jill Christian dies at 83




Gail Christian, who broke barriers as a black on-air reporter and came to national prominence at NBC News and PBS, died April 12 in Los Angeles. She was 83 years old.

Her wife, Lucy Debardelapine, said it was a complication from a recent bowel surgery.

Christian overcame a troubled youth—including a prison term for armed robbery—to end a career as a prominent television journalist and news executive in the 1970s and 1980s, an era when the industry was dominated by white men.

It became a visible presence in American living rooms with it coverage to NBC News on the trial of Patricia Hearst, the newspaper heiress who was kidnapped in 1974 by a gang of left-wing revolutionaries called the Symbionese Liberation Army, and who was convicted two years later for participating in a bank robbery with the group.


But for Ms. Christian, it wasn’t enough just to appear as a rare black face on the evening news.

She said in Interview with the Chicago Tribune In 1986. I felt that was the reason I was there. I didn’t resent it in the least. I felt then, as I feel now, that it is very dangerous for a group of people to live in a society in which they are not allowed to explain themselves.”

It has succeeded in this task with features like “A Country Called Watts”, An hour-long 1977 NBC News special that explored the efforts of residents of this Los Angeles neighborhood to come together and re-evaluate the bloody civil unrest that occurred in response to police brutality in 1965, rebuilding burned-out blocks in the face of perceived government indifference and continued police harassment.

Gary Gilson, former faculty director of a summer program for minority students at Columbia University’s Graduate School of Journalism, in a phone interview. “And her pioneering role as a black news reporter allowed black kids to see, many for the first time, an impressive person on television who looked like them. It gave them recognition and hope.”

After two years at NBC News, Ms. Christian became news director for public station KCET in her hometown of Los Angeles, where she created a “60 Minutes”-style investigative series called “28 Tonight” (the station was on channel 28).


The program featured several award-winning segments, including a segment on a banking scandal that harmed low-income communities and another on a chemical spill in Orange County that caused illnesses in the area, each of which won a Peabody Award.

In 1981 she moved to Washington, where she began nearly a decade as the news director for the Public Broadcasting Service.

“Since I’ve been in the business, I’ve always wanted to be one of the officers who goes out in that little room and decides what’s going to be covered and who’s going to cover it,” she said in a 1976 interview with the Los Angeles Times. “But at NBC, I never saw any women walk into that little room. Nor any minorities. I thought this was my chance.”

She added, “As Bobby Seale said,” referring to one of the founders of the Black Panther Party, “take the time.”

Jill Christian Jill Patricia Wells was born on February 20, 1940, in Los Angeles, one of four children of Edwin Wells, who worked on an assembly line for the Hughes Aircraft Company, and Lucille (Scruggs) Wells, who owned a cosmetology college. In the Leimert Park neighborhood of South Central Los Angeles. (She later adopted Christian, a name from her mother’s family, as her professional surname.)


Ms. Christian grew up in Venice, California, and spent three years studying world history at California State University, Los Angeles, before dropping out to join the Air Force in 1962. She was caught in a raging crowd after being discharged, and in 1965, was found guilty of Armed robbery after eroticism in a hotel.

The theft, which resulted in less than $100, led to her admission to the California Institute for Women in Chino for 18 months. Christian said in a 1976 interview with TV Guide. “I really didn’t need to do that. I had a loving family, unlike a lot of the others in prison. I was just kind of pushed out at the time.”

After she had served her time, a paroled colleague who was working as a switchboard operator at The San Francisco Examiner gave her a tip that the paper was planning to hire two black reporters to diversify its staff. Without any experience, Ms. Christian considered the opportunity far-reaching, but talked her way into the role of an apprentice by stretching the truth.

“I gave them this song and they danced around working on this little black paper that the Klan burned,” she told the Tribune.

In 1970, she participated in an 11-week summer program for minority students in broadcast journalism at Columbia. (Geraldo Rivera was a classmate.) Two years later, she was hired by local NBC affiliate KNBC. She worked there for six years before NBC News hired her.


Her tenure at PBS ended in 1989, shortly after the network found itself embroiled in controversy over the airing of a pro-Palestinian documentary, Days of Rage, which Ms. Christian had acquired and was responsible for vetting. A news report confirmed that the film was partially supported by undisclosed Arab funding, which was denied by the film’s producer.

In an interview with The New York Times, Ms. Christian said she quit PBS for other reasons. She said, “You’re burning because this is a no-win situation.” “You are silent when things are going well and angry when there are questions.”

She eventually settled in Palm Springs, California, with Mrs. DeBardelaben, whom she married in 2016. In 2003, the couple started the Palm Springs Women’s Jazz Festival.

In addition to Mrs. DeBardelaben, Mrs. Christian is survived by her grandson. Her daughter, Sunday Barrett, died in 2019.

While Ms. Christian kept quiet about her prison term early in her career, she finally decided to divulge it to a sympathetic NBC executive. “The guy just looked at me,” she recalls. He says: I don’t have enough problems. Do I have to listen to you? Get outta here.’ I didn’t hear another word.”


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Economic mood and other investment stories you may have missed this week




This week has been a tough bullish one. Here’s what investors saw:

  • Oil prices have given up most of the gains from the OPEC+ production cut.

  • The Philadelphia Fed Manufacturing Index hit a new low for this economic cycle and missed expectations. Other indicators from the Conference Board The leading economic indicator I also fell.

  • Initial jobless claims were a surprise to the upside for the fourth consecutive week.

  • Weak earnings and more caution emerged from freight operators JB Hunt and Union Pacific as well as auto retailer AutoNation. Netflix and Taiwan Semiconductor, a major supplier to Apple, also issued guidance warnings.

  • There have been more layoffs in Meta’s Cloroxwith reports of planned job cuts at Disney.

  • Tesla reported a quarterly gross margin loss recently price cuts.

The bottom line is that there is an ongoing negative shift in economic data, most likely as interest rates continue to rise in the economy. This is a red flag.

Oddly enough, however, investors can’t seem to jump into it judging by the resilience of the S&P 500, Nasdaq Composite, and Dow Jones Industrial Average.

“The latest data is further evidence that there will be a recession in the US soon, which fits with our own view at DB Research that it is expected to happen later in the year,” Jim Reed, Deutsche Bank strategist wrote in the client note.


Good words of wisdom now.

Tesla CEO Elon Musk speaks to a visitor as he arrives to look at the Tesla Gigafactory construction on September 3, 2020, near Gruenheide, Germany. (Photo by Maja Hitij/Getty Images)

3 things you might have missed

1. The mood among AmEx cardholders: I met with American Express CEO Stephen Squarey, and he struck an optimistic tone about order trends.

“The economy is definitely divided, and I think at the lower end of the economy, we’re seeing some pressure, but we don’t have that,” Squirey said, adding that he sees strong demand for travel in the spring and summer. The call to travel lines up with what we’ve heard about this earnings season from Delta and United Airlines.

2. Elon Musk is following the storm. An interesting highlight from Tesla’s earnings call was when Elon Musk said he didn’t see the economy improving until 2024. The CEO predicted another year of “stormy economic weather” before “things start to get sunny in the spring of next year.”


Musk joins the likes of JPMorgan CEO Jamie Dimon in using weather to describe the economic outlook.

3. About this credit cost: In an exclusive on Yahoo Finance Live, Loretta Mester, President of the Federal Reserve Bank of Cleveland, tells Jane Schoneberger that there is only one direction for interest rates in the near term: higher.

“I think that, given the complexity of inflation, and given the still-strong job market, I think rates should go above the 5% level,” Mester said.

Loretta J.  Jim Urquhart

Loretta J. Jim Urquhart

C-Suite, quote of the week

“We are not seeing a significant drop in trade [among consumers]John Mueller, CEO of Procter & Gamble (PG) told Yahoo Finance Live. We are witnessing, if anything, more careful use of the product they purchased. So they might use half a sheet of a Bounty paper towel instead of a full sheet. But overall, again, just looking at the numbers, the consumer holds up very well.”

planner of the week

For those investors who are ignoring the dangers of the impending debt ceiling, here’s a helpful reminder from the macroeconomics team at Goldman Sachs on how markets will price in the 2011 debt ceiling debate:

Remember the debt ceiling debacle of 2011?

Remember the debt ceiling debacle of 2011?

Brian Suzy He is the Executive Editor of Yahoo Finance. Follow Suzy on Twitter @tweet and on linkedin. Deal tips, mergers, activist positions, or anything else? Email

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