Stock Market Today Mid-Morning Updates
On Monday, the Dow Jones Industrial average dropped by 140 points after Friday’s strong stock market rebound. This comes following news Monday morning of big tech names like Tesla (NASDAQ: TSLA), Netflix (NASDAQ: NFLX), and Spotify (NYSE: SPOT) all received analyst upgrades.
Among the Dow Jones leaders, shares of Apple (NASDAQ: AAPL) gained 1.31% today while Microsoft (NASDAQ: MSFT) is up by 0.62%. Furthermore, top Dow Jones stocks to watch like American Express (NYSE: AXP) and Chevron (NYSE: CVX) ticked lower during Monday morning’s trading session.
Shares of electric vehicle (EV) leader Tesla (NASDAQ: TSLA) are up by over 6% during Monday morning’s trading session. This surge comes from news this morning that the EV maker has received an analyst upgrade by Credit Suisse (NYSE: CS), which also saw a bump in share price Monday morning up 1.40%.
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Dow Jones Today: Stock Market Looking To Rebound
Following the stock market opening on Monday, the markets opened mix. The Dow Jones dropped 0.4%, while the S&P 500, and Nasdaq are trading higher off the open. Among exchange-traded funds, the Nasdaq 100 tracker Invesco QQQ Trust (NASDAQ: QQQ) is up 1.56% on Monday, while the SPDR S&P 500 ETF (NYSEARCA: SPY) is also seeing gains of 0.57%.
The 10-year Treasury inched higher to above 1.8% on Monday morning after closing just above 1.8% yesterday. This past Friday, the 10-year Treasury yield dropped for the second consecutive day, closing right over 1.78%. Moving on, oil prices have increased again, driving West Texas Intermediate higher by 0.9%, at a level hovering near $88 a barrel. This would the highest levels we’ve seen in the last seven years.
Tesla Stock Surges On Upgrade
During Monday morning’s trading session, shares of TSLA stock moved higher by over 6%. This surge comes after the electric vehicle market leader was upgraded by Credit Suisse analyst Dan Levy as he changed his perspective to bullish, stating the recent selloff has created “attractive” levels for investors who are looking for an opportunity to buy. He also commented that Tesla’s fundamentals remain “highly favorable.”
Just last week, TSLA stock reached its lowest levels since October 11. Shares of Tesla stock traded as high as $1,243 on November 4th, 2021, despite closing Friday’s trading session nearly 32% off it’s 52-week high.
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Spotify & Netflix Jump On Analyst Upgrades
During Monday morning’s trading session, shares of streaming giants Netflix, and Spotify jump over 7%, and 10% as of 10:13 a.m ET Monday morning. These surges come after Citigroup Inc. (NYSE: C) upgraded both stocks from neutral to buy.
Also, Edward Jones gave NFLX an upgrade from hold to buy. NFLX stock closed Friday’s trading session roughly 45% off it’s 52-week high. As well as shares of SPOT stock are nearly 55% from their previous highs.
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