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Other key earnings reporters include Dynatrace (DT) and TJX (TJX). Dynatrace jumped more than 6% in premarket trade, while TJX edged lower. As you can see, both Dow averages tend to rise and fall in fairly close lockstep with the S&P 500. For the full fiscal year, the company said to expect between $500 million and $506 million in revenue, a range that contains the Wall Street estimate of $501.8 million. The company expects adjusted EBITDA for the year to come in between $216 million and $222 million, while analysts anticipate $215.7 million. The company said to expect between $106.5 million and $107.5 million in revenue and between $39 million and $40 million in adjusted EBITDA for the first fiscal quarter.

Dow Jones futures rose Wednesday morning, as President Biden and House Speaker Kevin McCarthy struck optimistic tones on a debt ceiling deal. Big retailer Target (TGT) rose on earnings, while Tesla (TSLA) rallied in the wake of the company’s shareholder meeting. Chief Executive Elon Musk said Tesla would start rolling out “production Cybertrucks” later this year. The company reported 20 cents in earnings per share excluding items, above the 17 cents expected by analysts.

A collaboration deal helped send the Chinese biotech stock higher. Get this delivered to your inbox, and more info about our products and services.

Webull Financial LLC is a member of the Financial Industry Regulatory Authority (FINRA), Securities Investor Protection Corporation (SIPC), The New York Stock Exchange (NYSE), NASDAQ and Cboe EDGX Exchange, Inc (CBOE EDGX). Among U.S. exchange-traded funds, the Nasdaq 100 tracker Invesco QQQ Trust (QQQ) rose 0.25%, while the SPDR S&P 500 ETF (SPY) traded up 0.3% early Wednesday. Amid Tuesday’s talks, McCarthy told reporters the two sides remained apart on an agreement to lift the debt ceiling. But he said, “It is possible to get a deal by the end of the week. It’s not that difficult to get to an agreement.” Meanwhile, the White House called the talks “productive and direct.” Their rationale is that the transportation sector is a good leading indicator of the stock market.

BeiGene Ltd. ADR

BeiGene Ltd. said Monday it had entered an agreement with Swiss drug company Novartis Pharma AG to develop its investigational TIGIT inhibitor ociperlimab in North America, Europe, and Japan and to market five Novartis o… Fundamentally, the driving catalyst for biotech stocks to buy centers on the possibility of supporting paradigm-shifting medical breakthroughs. For example, a report published by the JAMA Network indi… The value each BGNE share was expected to gain vs. the value that each BGNE share actually gained. There are multiple ways to fund your Public account—from linking a bank account to making a deposit with a debit card or wire transfer.

Financial services made the biggest losses, down 1.3%, followed by autos, which dropped 0.9%. “While the equal-weight S&P and Russell 2000 closed right on crucial support, transports haven’t been as fortunate, as downside momentum accelerates…not exactly what the equity or economic bulls want to see,” Rob Ginsberg wrote Tuesday. BeiGene’s shares are down this year, but it has two potential blockbusters.

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Revenue also beat expectations at $111 million compared with a $110.1 million forecast. Adjusted EBITDA came in at $48.9 million, ahead of the $45.7 consensus estimate. For the current quarter, the company said to expected between $2 and $2.06 in earnings per share for the current quarter, while analysts forecasted $1.96. Keysight guided revenue for the quarter to come in between $1.37 billion and $1.39 billion, a range that contains Wall Street’s consensus estimate of $1.38 billion. In its fiscal second quarter, the company reported $2.12 in earnings per share without items and $1.39 billion in revenue. By comparison, analysts polled by FactSet expected $1.96 per share and revenue to come in slightly lower at $1.38 billion.

BeiGene

A close below that level may signal a potential change toward the downside. “While McCarthy said a deal is possible by end of this week, the timeline may be by the end of next week ahead of the Memorial Day,” JPMorgan traders wrote. “With that in mind, Equities may trade in a tight range until an outcome is observed with the biggest downside risk coming if we enter Memorial Day weekend without a solution, given the early June x-date.”

• Electric-vehicle giant Tesla (TSLA) rose 1.5% Wednesday morning.
• You can sign up for an account directly on our website or by downloading the Public app for iOS or Android.
• The WSJ Dollar Index gained 0.4%, on pace to finish higher for the sixth session in the last eight trading days.
• Data may be intentionally delayed pursuant to supplier requirements.

And this rationale does seem plausible, since transportation stocks, especially those of freight transportation companies, should be among the first to weaken when the economy begins to lose steam — earlier even than industrial stocks. PacWest Bancorp and Western Alliance Bancorp led gains, with both rising more than 12% premarket, while others such as Comerica and Zions Bancorporation also rose. Western Alliance shares have been on a recent upswing, up 17% over the past week – and posting a gain of 15% since this week has begun. Traders at JPMorgan expect the market to remain in a tight trading range as lawmakers try to reach a deal on the U.S. debt ceiling. Data are provided ‘as is’ for informational purposes only and are not intended for trading purposes. Data may be intentionally delayed pursuant to supplier requirements.

J.P. Morgan Analysts Say These 2 Stocks Are Their Top Picks for 2023

Concerns over a potential default has weighed on markets recently. The Dow is down more than 3% this month, including a 1% decline on Tuesday. No content on the Webull Financial LLC website shall be considered as a recommendation or solicitation for the purchase or sale of securities, options, or other investment products.

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You can sign up for an account directly on our website or by downloading the Public app for iOS or Android. You can practice and explore trading BGNE stock methods without spending real money on the virtual paper trading platform. On Tuesday, the Dow Jones Industrial Average sold off 1% to break below its 50-day line. Some elaborate market timing systems key off divergences between these two averages. Though the specific rules of how to apply the Dow Theory are beyond the scope of this column, I note that Dow theorists interpret the rules differently.

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Securities products offered by Open to the Public Investing are not FDIC insured. Apex Clearing Corporation, our clearing firm, has additional insurance coverage in excess of the regular SIPC limits. Target traded more than 2% lower in the premarket after the retailer reported total revenue of $25.32 billion for the first quarter, which represented year-over-year growth of just 1%. To be sure, that revenue figure, along with the company’s earnings per share, exceeded analyst expectations.

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Meanwhile, new data offered a mixed picture about the health of the U.S. housing market. Housing starts for April rose 2.2% on a monthly basis, beating expectations of a 1.4% decline. Finally, Musk said he has no plans to step down as Tesla CEO. The 50-day moving average is a short-term technical indicator of where an asset or an index is trading.

Webull Financial LLC is a member of SIPC, which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash). An explanatory brochure is available upon request or at Our clearing firm, Apex Clearing Corp., has purchased an additional insurance policy.. Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones Industrial Average. Now is an important time to read IBD’s The Big Picture column after last week’s bullish change in market outlook. On the economic front, the Commerce Department said housing starts and permits for April came in at 1.401 million and 1.416 million.

Regional bank shares rebounded on Wednesday, helping market sentiment, as Western Alliance Bancorp detailed improving deposit growth. The SPDR S&P Regional Bank ETF jumped 2%, while Western Alliance soared 11% in early trading. Options trading entails significant risk and is not appropriate for all investors. Option investors can rapidly lose the value of their investment in a short period of time and incur permanent loss by expiration date.

The two-year Treasury yield bucked the trend, rising to 4.095%, from 4.072%. The Dow ended the trading session below a key threshold on Tuesday. Singapore’s total trade fell to SG$100.3 billion in April, a 18.8% year-on-year drop and extending the 8.6% decrease in March. A look under the hood in stocks continues to build on the bear case, according to Wolfe Research. April housing starts came in line with expectations, at 1.4 million.