By Yasin Ebrahim
Investing.com-Dow closed just below the flat line on Thursday as the strength of technology led by Intel (NASDAQ :) and Apple in the rally was offset by weak energy.
It fell by 0.04%, or 12 points. Increased by 0.03%, but increased by 0.55%. S & P and Nasdaq closed record highs.
Apple (NASDAQ :) rose 4% as analysts continued to talk about stock prices prior to the quarterly report through January 27.
Morgan Stanley (NYSE :) Apple’s price target has been raised from $ 144 to $ 152 because high demand for the iPhone 12 is expected to boost unit growth and services to be boosted by telecommuting trends. ..
“Given the slowdown in quarterly positioning after the rotation of high-quality stocks in the last few months, we expect strong follow-through post-earnings and are print buyers,” said Morgan Stanley. “.
Consumer stocks were also one of the biggest drivers of the rise, driven by Ford’s surge.
Ford (NYSE :) outperformed revenue by 6% as investors expected more guidance from automakers on many key models, including new EV strategies. Ford will report earnings on February 4th.
However, energy fell 4% as oil prices fell following Wednesday’s data.
Sector was also lowered by Exxon mobile (NYSE :) fell 3% after Jeffreys (NYSE :) started underperforming oil major coverage with a $ 39 target, fearing dividend coverage.
The industry was in the red after United Airlines (NASDAQ :) showed that air travel recovery was unlikely to recover as quickly as many would expect.
United Airlines said 2021 will be a “transition year focused on preparing for recovery.”
American Airlines Group (NASDAQ :), Southwest Airlines (NYSE :), and Delta Air Lines (NYSE :) also fell.
In other news, homebuilders rebounded after data showed that housing starts rose at the fastest pace since 2006. iShares US Home Construction ETF (NYSE :) surged 1.5%.
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Dow ends flat as energy slip by Investing.com offsets technology
https://www.investing.com/news/stock-market-news/dow-ends-flat-as-energy-slip-offsets-tech-strength-2395509 Dow ends flat as energy slip by Investing.com offsets technology