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Monday, May 16, 2022

Dow Jones Falls, Tech Stocks Sell Off To Kick Off Week

The Dow Jones Industrial Average declined on Monday, as the stock market halted after a two-day decline in the correction rate.


Twitter shares (TWTR) dropped by more than 4% after Elon Musk said the company's legal team had accused him of violating an undisclosed agreement. On Friday, Musk said his $ 44 billion Twitter acquisition agreement was suspended due to questions about the number of fraudulent accounts.

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Tesla (TSLA) giant electric vehicles traded 1% on Monday morning.


Elsewhere, Dow Jones technology leaders Apple (AAPL) and Microsoft (MSFT) traded down 0.9% and 0.85%, respectively, in today's stock market. Meanwhile, McDonald’s (MCD) shares declined slightly after the company said it would leave Russia and sell its business there due to Russia’s invasion of Ukraine.


As stock market reforms try to get lower, Dow Jones leaders Chevron (CVX) and Merck (MRK) - and Cheniere Energy (LNG), Eli Lilly (LLY), Exxon Mobil (XOM) and Northrop Grumman (NOC)

Exxon and Merck were included in last week's Stock column Near A Buy Zone.


Dow Jones Today: Treasury Yields, Oil Prices

After opening Monday, the Dow Jones Industrial Average fell 0.6%, while the S&P 500 fell 0.7%. Nasdaq traded 1% in the morning trading.


Among the trading funds, the Nasdaq 100 tracker Invesco QQQ Trust (QQQ) fell 0.9%. The SPDR S&P 500 ETF (SPY) fell 0.7%.


Treasury's 10-year yield increased to 2.9% on Monday morning. Treasury's 10-year harvest yielded a four-day defeat on Friday, rising to 2.93%. Meanwhile, U.S. oil prices have fallen below 1%, with West Texas Intermediate crude holding more than $ 109 a barrel after a three-day distribution.


Stock Market Rally Attempt

Big stock indexes finished with strong gains on Friday. The Dow Jones Industrial Average was up 1.5%, down for six days, while Nasdaq was up 3.8%.


Friday's column The Big Picture commented, “So even though most investors have raised a lot of money and are afraid to touch the equity, the market still needs a new company of excellent companies that reflect the key features of CAN SLIM investment: basic growth, efficiency compared to stocks many today, as well as evidence of a growing fund ownership. "


Tesla Inc (TSLA)

Tesla stock lost about 1% on Monday morning following Friday's close of nearly 6%. Shares remain below their 50-day and 200-day line between their recent weakness.


The stock traded up 1,243.49 on November 4 and is about 38% off from its highest.


Leaders of Dow Jones: Apple, Microsoft

Among Dow Jones shares, Apple shares have risen more than 3% on Friday after falling to the lowest level since October 2021 on Thursday. The stock is well below its 200-day line and is about 20% off its 52-week discount. Apple stock fell 0.9% on Monday.


Stocks To Watch: Cheniere, Eli Lilly, Exxon, Northrop

Cheniere Energy is one of the leading stock markets to watch, as it continues to trade below its 50-day line. Shares rose 2.7% on Friday, but remain below their 50-day line, as they continue to lay a flat target of 149.52, according to a chart analysis. LNG shares rose 1.1% on Monday.


Dow Jones Stocks To Watch: Chevron, Merck

The leader of the Dow Jones and Chevron giant is in the stock market with 174.86 stocks, according to the chart. CVX shares traded at 1.9% on Friday, extending the win streak to four sessions. Stocks also received their 50-day line and are still 4% off their recent entries. Chevron shares were up 1% on Monday morning.


Drug leader Merck remains above the point of purchase of the 89.58-handle cup after shares fell 0.5% on Friday. The 5% purchase price rises to 94.06. Shares gained about 1% in early Monday. One positive sign, the stock power line hit another high last week, indicating a very good performance of the stock market during the current restructuring of the stock market.