Dow Jones futures were lower ahead of Tuesday’s open after the Dow Jones Industrial Average rose more than 400 points on Monday. Tech giants Alphabet, Apple, Meta Platforms and Microsoft will report earnings this week.
But first, Dow Jones stock 3M (um) and Coca Cola (KO) will report early Tuesday. General Motors (General Motors), Halliburton (Hal), Raytheon Technology (RTX) and ups (UPS) will also be one of the leading reporters on Tuesday morning.
Stock Market Today: Chinese stocks plunge
On Monday, the Dow Jones Industrial Average rose 1.3% and the S&P 500 gained 1.2%. The tech-heavy Nasdaq Composite rose 0.9%. The small-cap Russell 2000 rose 0.35%.
Among exchange-traded funds, Nasdaq 100 tracker Invesco QQQ Trust (QQQ) rose 1.1% and the SPDR S&P 500 (SPY) rose 1.2%.
Chinese stocks tumbled on Monday, with China’s Hang Seng down 6.4 percent to close at its lowest level since April 29, 2009. Chinese leader Xi Jinping continues to consolidate his power, appointing some supporters to the party’s most powerful decision-making body after securing a third term in violation of the pact.
Alibaba (Baba) and Baidu (BIDU) fell more than 12%. big new energy (DQ) fell nearly 7%, ideal car (LI) plunged 17%.and Pinduoduo (PDD) plummeted 24%.
electric car giant Tesla (TSLA) pared losses to 1.5% after hitting a fresh 52-week low. In Dow Jones stock, apple (AAPL) rose 1.5%, Microsoft (MSFT) rose 2.1% in shares today.
automatic zone (azo), basic health (CAH), Eli Lilly (LLY) and Texas Inn (TXRH) — and Dow Jones stock Chevron (CVX) and UnitedHealth (UNH) — is one of the best stocks to buy and watch. Remember, a fresh stock market rally is the perfect time for investors to put their watchlists into action.
Cardinal and Texas Roadhouse are IBD leaderboard stocks. Eli Lilly is an IBD SwingTrader stock. UnitedHealth is featured in this week’s “Stocks Near the Buy Zone” column along with three other hot stock ideas.
4 Fastest-Growing Stocks to Watch Right Nowrent stock market rebound
Dow Jones futures today: Treasury yields, oil prices
Dow Jones futures were down 0.4% from fair value ahead of Tuesday’s open, while S&P 500 futures were down 0.3%. Nasdaq 100 futures were down 0.1% from fair value. Keep in mind that overnight action in Dow Jones futures and elsewhere doesn’t necessarily translate into actual trading on the next regular stock market day.
The 10-year U.S. Treasury yield edged up to 4.23 percent on Monday, its highest level since June 2008. Meanwhile, U.S. oil prices edged lower on Monday, pausing after three straight days of gains. West Texas Intermediate crude futures were trading near $85 a barrel.
third quarter earnings Season: Alphabet, Apple, Meta, Microsoft To Report
Q3 earnings season kicks off this week, with major reports coming from tech giants letter (Google), apple (AAPL), meta platform (yuan) and Microsoft (Microsoft).
because. . .result Boeing (BA), Chevron, Merck and visa (V) will also expire throughout the week.
Earnings reports cause many of the biggest moves in stocks, and they require special attention. Strong earnings can push top stocks to previously untouched levels — and beyond new buy points — while a less impressive announcement could send shares tumbling.
The stock market’s reaction to an earnings release often tells you more than the earnings themselves. If the results look strong but the stock price slips anyway, investors may worry about the sustainability of growth, rising costs or other potential negative impacts.
With the market in rebound attempt mode, investors should track companies that easily beat earnings results and have strong upside reactions. If the market can bounce back, they could be the bellwethers of the stock market.
What to do in a new stock market rally
Despite the recent gains, now is not the time to get back into stocks with both feet in a big way, but a cautious approach. For most investors, exposure should be limited to a maximum of 20% of the portfolio. Aggressive investors should keep their exposure below 40% until the market starts to prove itself.
Now is a great time to read IBD’s The Big Picture column. After Friday’s strong gains, investors are looking to put their carefully curated watchlists into action for a jump on future breakouts. But not all follow-ups work, so it’s important to slowly and methodically increase exposure as the new upward trend proves itself.
If the uptrend is real and meaningful, there will be plenty of time to make money with a successful breakout. Now, with the new stock market rally intensifying, it’s important to be disciplined when increasing your exposure.
Five Dow Jones Stocks to Watch Right Now
Dow Jones Stocks to Watch: Merck, UnitedHealth
Dow Jones member and IBD 50 stock Merck & Co breaks double bottom at 93.12 buy point, According to IBD MarketSmith pattern recognition. Shares rose 1.8% to settle in 5% buy territory on Monday, rising to 97.78. Third-quarter earnings results will be released before the market opens on Thursday.
Healthcare giant UnitedHealth is approaching a 553.23 buy point for cup with handle, According to IBD MarketSmith pattern recognition. Shares rose 1.5% on Monday, near the stock’s latest entry point.
Popular stocks to watch: AutoZone, Cardinal, Eli Lilly, Texas Roadhouse
Auto-parts leader and most recent IBD daily stock AutoZone broke out of the cup base’s 2,362.34 buy point, up 4.6% on Monday. The 5% chase zone rose to 2,480.46.
According to IBD MarketSmith chart analysis, IBD Leaderboard stock Cardinal Health is in buy territory, surpassing the 71.22 entry point of the short cup with the handle. Shares also breached the flat-bottomed 72.38 buy point. Earnings are scheduled for November 4.
IBD SwingTrader stock Eli Lilly’s buying range closed further at a flat-bottomed 335.43 buy point, up 2.1% on Monday.
Texas Roadhouse is trying to reclaim a largely flat 95.52 buy point after a brief breakout last week. Shares closed above the entry point on Monday. Earnings will be released on Thursday.
Analyze the leading stocks in the current stock market rally with an IBD expert on IBD Live
Tesla shares tumbled as much as 7.4% on Monday, before falling to 1.5% after China slashed the prices of its Model 3 and Model Y vehicles by 9%. Shares hit their lowest level since June 2021.
The stock closed down about 49% from its 52-week high.
Dow Jones Leaders: Apple, Microsoft
Among Dow Jones stocks, Apple shares rose 1.5% on Monday, down about 18% from a 52-week high. Despite the recent rally, the stock remains below its 50- and 200-day lines. After the market closes on Thursday, Apple will report earnings.
Microsoft rose 2.1% on Monday, its second day of gains. Shares are in rebound mode after hitting a 52-week low on Oct. 13. The software giant is still about 30% below its 52-week high. Microsoft’s earnings report is due later on Tuesday.
Be sure to follow Scott Lehtonen on Twitter @IBD_SLehtonen More on growth stocks and the Dow Jones Industrial Average.
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