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December 31, 2022

Dow Jones Falls 275 Points; Tesla Stock Skids To End Historic 2022

The Dow Jones Industrial Average fell 275 points Friday morning at the start of the final trading session of 2022. Tesla stock reversed from early losses in morning trade, set to finish with its worst yearly performance on record, crashing more than 65{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}.

Electric-vehicle leader Tesla (TSLA) rose nearly 1{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} Friday. Dow Jones tech giants Apple (AAPL) and Microsoft (MSFT) traded lower after today’s stock market open.

Cardinal Health (CAH), Medpace (MEDP), IBD Leaderboard stock Tenaris (TS) and Texas Roadhouse (TXRH) — as well as Dow Jones names Amgen (AMGN), Caterpillar (CAT) and Chevron (CVX) — are among the top stocks to consider for investor watchlists. Keep in mind the ongoing market weakness should keep investors on the sidelines.

Tenaris is an IBD Leaderboard stock. Caterpillar and Medpace were recent IBD Stock Of The Day companies. And Cardinal Health is featured in this week’s Stocks Near A Buy Zone column.

IBD’s latest newsletter MarketDiem gives you actionable ideas for stocks, options and crypto right in your inbox

Dow Jones Today: Oil Prices, Treasury Yields

After Friday’s opening bell, the Dow Jones Industrial Average moved down 0.8{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}, while the S&P 500 lost 1{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}. The tech-heavy Nasdaq composite dropped 1.3{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} in morning action.

Among U.S. exchange-traded funds, the Nasdaq 100 tracker Invesco QQQ Trust (QQQ) fell 1{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} and the SPDR S&P 500 ETF (SPY) moved down 0.7{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} early Friday.

The 10-year Treasury yield rose to 3.84{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} Friday morning, with the yield on pace to rise sharply for a second straight week.

Meanwhile, U.S. oil prices traded less than 1{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} lower Friday, as West Texas Intermediate futures traded down about 2{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} on the week, near $78 a barrel, following a two-week advance.

Stock Market Correction

On Thursday, the Dow Jones Industrial Average rallied more than 1{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} and the S&P 500 rose nearly 1.8{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}. The Nasdaq and small-cap Russell 2000 both advanced 2.6{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} each. Through Thursday’s close, the Nasdaq declined 33{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} year to date, its worst annual performance since 2008. The Dow Jones industrials and S&P 500 are set to post 2022 losses of 8.6{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} and 19.2{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}, respectively.

Thursday’s The Big Picture column commented, “Despite Thursday’s gains, IBD’s stock market outlook remains at ‘market in correction’ due to the amount of weakness in recent weeks. That means investors should primarily be on the sidelines in preparation for a new confirmed uptrend. Thursday was Day 1 of a new rally attempt, so a potential follow-through day could occur as soon as next week (Day 4 or later of the rally attempt).”

Five Dow Jones Stocks To Watch Now

Dow Jones Stocks To Watch: Amgen, Caterpillar, Chevron

Drugmaker Amgen continues to trace a flat base amid a potential four-week losing streak. Shares ended a four-day losing streak with a 0.7{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} rise Thursday, but are still below their 50-day line. For now, the correct buy point is 296.77, but the stock needs to decisively retake its 50-day first. AMGN stock is up more than 16{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} for the year through Thursday. Shares traded up 0.1{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} Friday.

Dow Jones member Caterpillar finished back above a 239.95 buy point in a flat base Thursday, according to IBD MarketSmith pattern recognition. The buy zone goes up to 251.95. Bullishly, the stock’s relative strength line, a key technical indicator, is at new highs. CAT stock has a year-to-date gain of just over 16{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} and is one of the top-performing Dow Jones stocks this year. Shares inched lower Friday.

CAT stock shows a strong 98 out of a perfect 99 IBD Composite Rating, per the IBD Stock Checkup. The Composite Rating is designed to help investors easily find top growth stocks.

Energy giant Chevron is trying to again clear its 50-day line amid Thursday’s 0.8{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} gain, as the stock continues to trace the right side of a flat base that has a 189.78 buy point. CVX stock is the Dow’s year-to-date leader, up 52{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}. Shares were down 0.2{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} Friday morning.

4 Top Growth Stocks To Watch In The Current Stock Market Correction

Top Stocks To Watch: Cardinal Health, Medpace, Texas Roadhouse

Cardinal Health, a recent IBD Stock Of The Day, is holding close to a 81.67 buy point in a flat base. Shares declined 1.1{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} Thursday. CAH stock was down 0.1{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} Friday.

Medpace continues to rebound from its 50-day line, rallying more than 3.4{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} Thursday. For now, the correct buy point looms at 235.82, but an earlier entry at 220.09 is also in play. MEDP stock was down 1{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} Friday.

Texas Roadhouse shows a new buy point at 101.85 in a flat base, but is now consolidating below its 50-day line. The restaurant leader will look to recover that key benchmark over the coming sessions, but the stock is at its recent lows. TXRH stock traded down 0.4{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} Friday morning.

IBD Leaderboard stock Tenaris is trying to break out past a 35.15 flat-base entry. Shares rose 1.4{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} Thursday to retake the entry. The RS line hit a new high this week. TS stock fell 1.3{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} Friday morning. Keep in mind the weak stock market outlook means investors should avoid new stock buys.

Stocks To Watch

These are six top stocks to watch in today’s stock market, including three Dow Jones leaders.

Company Name	Symbol	Correct Buy Point	Type Of Base
Cardinal Health	(CAH)	81.67	Flat base
Tenaris	(TS)	35.15	Flat base
Texas Roadhouse	(TXRH)	101.85	Flat base
Caterpillar	(CAT)	239.95	Flat base
Chevron	(CVX)	189.78	Flat base
Amgen	(AMGN)	296.77	Flat base

Source: IBD Data As Of Dec. 28, 2022

Join IBD experts as they analyze leading stocks in the current stock market correction on IBD Live

Tesla Stock

Tesla stock extended its rebound Thursday, surging more than 8{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}. Shares hit a 52-week low this week at 108.76. And they closed about 70{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} off their 52-week high.

Shares looked to to their recent rebound, rising nearly 1{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} after reversing from early losses Friday morning.

TSLA stock is set to finish 2022 with its worst annual performance on record, losing more than $700 billion in market valuation amid investor concerns about production disruptions, demand worries and Chief Executive Elon Musk’s focus on Twitter (TWTR). Tesla stock is down more than 65{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} this year.

Dow Jones Leaders: Apple, Microsoft

Among Dow Jones stocks, Apple shares jumped 2.8{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}, ending a four-day losing streak and rebounding from their lowest level since June 2021. The stock is around 30{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} off its 52-week high and down 27{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} since the start of the year. Shares lost 0.8{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} Friday morning.

Microsoft stock rallied 2.8{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} Thursday, but is still below the 50-day line. The software giant is about 30{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} off its 52-week high with a year-to-date loss of more than 28{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}. MSFT stock moved down 0.9{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} early Friday.

Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones Industrial Average.

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December 29, 2022

Luka Doncic destroys Knicks in unprecedented fashion: Seven numbers to know from Mavs star’s historic night

USATSI

Luka Doncic put on one of the greatest performances in NBA history on Tuesday night, tallying a stat line that’s impossible to believe even as I sit here and write it: 60 points, 21 rebounds and 10 assists in the Mavericks’ absolutely wild 126-121 overtime victory over the Knicks.

This marks the first 60-point, 20-rebound triple-double in NBA history, and just the second 60-point triple-double of any kind, joining James Harden’s 60-11-10 line from a 2018. Here are seven numbers to know from Luka’s unprecedented night:

First 60-point, 20-rebound, 10-assist game all-time
Second 60-point triple-double all-time (James Harden, 60-11-10)
First 60-point, 20-rebound game since Shaq in 2000
NBA’s first 60-point game this season
Mavericks single-game scoring record
Doncic career high (points and rebounds)
Doncic’s 56.3 Game Score sixth best since 1983-84

That last number is per our CBS Sports research department. Game Score reflects the full box score in identifying the best single-game performances. Here are the only five that have topped Doncic’s 56.3 since 1883-84:

Michael Jordan (64.6): 69 pts, 23-37 FG, 18 Reb, 6 Ast, 4 Stl
Kobe Bryant (63.5): 81 pts, 28-46 FG, 18-20 FG, 3 Stl
Karl Malone (60.2): 61 pts, 21-26 FG, 19-23 FT, 18 Reb
David Thompson (57.0): 73 pts, 28-38 FG, 17-20 FT, 7 Reb
James Harden (56.6): 60 pts, 10 Reb, 11 Ast, 17-18 FT, 4 Stl
Luka Doncic (56.3): 60 pts, 21 Reb, 10 Ast, 21-31 FG, 16-22 FT

Wilt Chamberlain’s numbers are supposed to be mythical. Doncic is out here topping them. The most points Wilt ever scored in a game in which he also tallied 20 rebounds was 53.

I mean this was just crazy how easy Luka made this look. There is no way that a Mavericks victory should have been possible. They were down by nine with 33 seconds to play. With 4.2 seconds remaining and Dallas trailing by two, Luka missed a free throw on purpose, wound up winning the tip-drill rebound, and scored to tie the game.

Another number for your consideration: 13,884. That’s the number of games in which a team led by at least nine points with 35 or fewer seconds remaining coming into Tuesday. Want to know how many of those teams lost the game? Zero. Not one. Sorry, Knicks fans.

“I’m tired as hell,” Doncic said in his postgame interview. He should be. It’s not often that we can say something like this, but we may never see another game like this in our lifetime. That includes everyone reading this. Everyone on the planet, in fact. Regardless of age. I know records are made to be broken and all, but a 60-point, 20-rebound triple-double could feasibly stand forever.

Is this showing enough to move Doncic to the front of a crowded early MVP race? It’s hard to argue against it. On a night when Joel Embiid dropped 48 and 10, Doncic made that line look downright childish in drawing basically even with Embiid as the league’s top scorer (33.7 to 33.6). But this goes beyond the numbers. A night like this hits on a gut level. Doncic is the most mesmerizing player we have in today’s game. He took our breath away yet again on Tuesday.

December 9, 2022

New York Times journalists stage historic 24-hour strike after management and union fail to reach deal

New York
CNN Organization
—

A 24-hour strike at The New York Occasions, a historic demonstration in which more than 1,100 employees are predicted to participate, began Thursday at midnight, just after administration and the union representing staffers unsuccessful to attain an settlement for a new agreement following a lot more than a calendar year and a fifty percent of negotiating.

“It’s disappointing that they are using these drastic action, offered the apparent motivation we’ve demonstrated to negotiate our way to a agreement that provides Periods journalists with substantial pay out will increase, industry-foremost added benefits, and adaptable operating circumstances,” Meredith Kopit Levien, president and main govt of The Occasions, said in an e-mail to the organization Wednesday night time.

The NewsGuild of New York, which signifies journalists and other staffers at The Occasions, reported in a statement that the walkout was “due to the company’s failure to bargain in excellent religion, access a good contract arrangement with the workers, and meet their demands.”

The act of protest, which has not been staged by staff at the newspaper of report in decades, will depart many of its important desks depleted of their personnel, developing a challenge for the news group that thousands and thousands of visitors count on.

Stacy Cowley holds a sign outside the New York Times building in Manhattan, New York, U.S., December 8, 2022.

An government at The Occasions, who asked for anonymity to talk candidly, acknowledged to CNN on Wednesday that the operate stoppage would undoubtedly build issues. But, the executive reported, management has readied for the second and could depend on the newspaper’s other resources, this sort of as its intercontinental team which mostly are not part of the union, to fill the voids.

Joe Kahn, government editor of The Occasions, said in a be aware to team, “We will make a robust report on Thursday. But it will be harder than standard.”

Kopit Levien added in her e-mail to the company that The Situations has “plans in area to make certain that we fulfill our obligation to our viewers and the common public by reporting the news as entirely as feasible by means of any disruption prompted by a strike.”

But some staffers at The Times went as much on Wednesday as to urge audience not to take in the outlet’s content material in the course of the walkout.

“We’re inquiring audience to not engage in any [New York Times] platforms tomorrow and stand with us on the digital picket line!,” Amanda Hess, a critic-at-huge for the newspaper, wrote on Twitter. “Read local news. Hear to public radio. Make a thing from a cookbook. Break your Wordle streak.”

At a rally held Thursday afternoon outside The Times’ places of work in Occasions Square, dozens of union users held picket indications, handed out pamphlets, and demanded far better wages.

New York Times reporter Nikole Hannah-Jones speaks outside the Times' office, Thursday, Dec. 8, 2022, in New York. Hundreds of New York Times journalists and other staff protested outside the Times' office after walking off the job for 24 hours, frustrated by contract negotiations that have dragged on for months in the newspaper's biggest labor dispute in more than 40 years.

“We make the paper, we make the earnings!” the crowd chanted.

The strike comes as the Grey Lady and the NewsGuild of New York continue being at odds over a amount of problems, particularly wages, amid a backdrop of layoffs and cuts throughout the media field.

In modern months, CNN laid off hundreds of staffers, newspaper chain Gannett reduce 200 workers, NPR reported it will want to find $10 million in personal savings, and other news businesses have explored the require to trim budgets and freeze using the services of.

The Situations has managed that it supplied the guild “significant boosts,” but the union countered that the newspaper’s management has “frequently misrepresented its have proposals.”

The Union Periods, a e-newsletter printed by the NewsGuild, described The Times’ wage concessions on Wednesday as “paltry” and stated management has “barely budged” on the difficulty.

The two parties have been bargaining due to the fact the last agreement expired in March 2021. Past Friday, the NewsGuild educated The Times about its options to stage a walkout, a go aimed at making use of pressure to administration to offer supplemental concessions in negotiations.

The union has asked The Instances to meet up with in the middle on wage raises, but the newspaper believes the union commenced from an excessive situation, generating carrying out so a non-starter.

Both equally sides have labored throughout the 7 days to avert the 24-hour strike. But it was to no avail.

Management at The Periods experienced developed annoyed with how the NewsGuild has sought to conduct negotiations and partly blamed the absence of progress on it.

“They refuse to fulfill in man or woman,” the executive instructed CNN. “It’s a seriously essential issue. I simply cannot emphasize it sufficient. We have negotiations on Zoom. There are 8 or so people today from administration, as many as 18 people today on the bargaining committee from the NewsGuild, and as a lot of as 200 union users viewing as ‘observers.’”

“Negotiations are essentially public,” the govt continued. “And that changes the complete dynamic of negotiations. It turns into incredibly performative and extremely theatrical. It’s actually challenging to get issues completed. It’s like a exhibit. And we need productive negotiations to get to a deal.”

Susan DeCarava, president of the NewsGuild of New York, stated in reaction, “Union democracy is essential to union electrical power. That is why we don’t do shut-door negotiations, which administration carries on to demand from customers.”

“All associates who will be influenced by the determination created at the bargaining table should really be privy to these discussions,” the representative included. “When Moments management arrives to the bargaining table with their insulting and disrespectful offers, they have to explain it to a area total of their have employees—and they hate it. The outcome of management’s general public actions is the powerful strike that is taking place tomorrow.”

May 25, 2022

World Health Assembly agrees historic decision to sustainably finance WHO

Currently, at the 75th Earth Wellbeing Assembly, Member States agreed to adopt a landmark decision to increase the Globe Overall health Organization’s financing product.

The conclusion adopted, in full, the recommendations of a Sustainable Funding Performing Team made up of WHO’s Member States, which was established up in January 2021 and chaired by Björn Kümmel, from Germany.

In one of the important suggestions in the Performing Group’s report to the Health and fitness Assembly, Member States target a gradual improve of their assessed contributions (membership dues) to represent 50{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} of WHO’s main finances by the 2030-2031 spending budget cycle, at the most up-to-date. In the last price range biennium, 2020-2021, assessed contributions represented only 16{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} of the approved programme price range.

The report incorporates other suggestions, this sort of as discovering the feasibility of a replenishment mechanism to broaden the funding foundation. It also asks the WHO Secretariat to perform with a Member States task team to strengthen WHO’s governance, which will make tips on transparency, efficiency, accountability and compliance. The activity group’s operate will help assure that boosts to Member States’ assessed contributions will be accompanied by even more reforms to the way the Corporation operates.

WHO’s present financing model has been recognized by many authorities as posing a chance to the integrity and independence of its get the job done. WHO’s over-reliance on voluntary contributions, with a big proportion earmarked for distinct spots of do the job, outcomes in an ongoing misalignment amongst organizational priorities and the ability to finance them. The suggestions today are designed to significantly handle these shortcomings.

It is supposed that the gradual raise to assessed contributions will get started with WHO’s 2024-25 finances, with a proposed 20{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} raise above the assessed contributions in the accredited 2022-23 base finances. The goal is to attain 50{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} of WHO’s finances by 2028-2029 if attainable, and by 2030-31 at the hottest, up from the present 16{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} in 2020-21. This would signify that by 2028-2029, WHO would see an increase of roughly US$ 600 million a yr in the element of its income that arrives from the most sustainable and predictable resources.

Much more predictable and sustainable funding for WHO would make economic perception for the Organization’s contributors, with its new investment decision case ‘A Nutritious Return’ exhibiting that just about every US greenback invested in WHO delivers a return on financial commitment of at the very least 35 US bucks. Sustainable financing will superior equip WHO to provide more properly for all its Member States and their populations, for example by for a longer time-expression programming in international locations and attracting and retaining experience.

WHO Director-Basic Dr Tedros Adhanom Ghebreyesus claimed, “This determination addresses head-on the many years-very long problem WHO has confronted on predictable, flexible and sustainable funding. Providing on the target they have agreed now will signify our Member States are empowering WHO to satisfy their expectations and really satisfy our mandate as the world’s foremost worldwide wellbeing authority.” “Coming on the working day I am re-elected, this final decision offers all of us at WHO renewed assurance as we deal with the potential,” he included.

Björn Kümmel, deputy head of the world-wide overall health division at Germany’s Federal Ministry of Wellness and chair of WHO’s Performing Team on Sustainable Funding, explained. “This choice is about nothing significantly less than the long run position of WHO in global health. Even past that, it is about what we envisage for the worldwide overall health architecture: a a lot less fragmented, improved coordinated, a lot more efficient and truly inclusive international well being governance with a essentially strengthened WHO at its centre as the enabled main and coordinating authority.”