, 2022-10-18 11:10:00,
The Dow Jones Industrial Average pared back gains to trade 0.7% higher at noon, after surging nearly 600 points in early trading.
The S&P 500, which matched the Dow’s early advance, also gave up the bulk of its gains to trade 0.7% higher. The Nasdaq rose over 2% in early trading but pared back to a 0.6% gain.
Volume on the NYSE and on the Nasdaq was higher compared to noon on Monday.
Crude oil fell to $82.50 per barrel.
The yield on the benchmark 10-year Treasury note climbed back above 4%. The small-cap Russell 2000 gave up half of its early gains to trade 1% higher. And the Innovator IBD 50 (FFTY) ticked 0.5% higher.
Stocks Moving Today
Energy stocks are setting up potential buy points.
Among IBD 50 stocks, Murphy USA (MUSA) is nearing a buy point of 303.19 in a flat base. It is testing its 50-day moving average.
The 300%+ increase over last year will likely offset soaring production costs while profits for the Chinese EV maker are expected to quadrupole.
Shares of Tesla are up 1% ahead…
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