Dow futures rose ahead of Tuesday’s opening. A new attempt to rally began in the stock market on Monday, with the Dow Jones Industrial Average rising 765 points.
stock market today
On Monday, the Dow Jones Industrial Average rose 2.7%, sending the stock market higher. The S&P 500 is up 2.6% and the high-tech Nasdaq Composite is up 2.3%. Small-cap Russell 2000 advanced by 2.65%.
General motors (GM) I mentioned to her Car sales in the third quarter On Monday, it beat expectations about strong consumer demand and better vehicle availability. GM shares are up 2.4% Monday, but are still more than 50% off their 52-week high.
In light of the continued weakness of the stock market, Murphy United States of America (Musa), Neurobiological Sciences (NBIX), Vertex Pharmaceuticals (VRTX) And the world wrestling entertainment (WWE) – as well as Dow Jones stock United Health (United nations) – Among the top stocks to watch. Keep in mind that the ongoing correction in the stock market is a time to sit on the sidelines and create watch lists.
Dow futures today: Treasury yields, oil prices
Before the opening bell on Tuesday, Dow Jones futures were up 0.5% against fair value, while S&P 500 futures were up 0.6%. Nasdaq 100 futures are up 0.9% against fair value. Remember to work overnight in Dow Jones futures contracts and elsewhere that does not necessarily translate into actual circulation in the next regular session Stock market session.
The 10-year Treasury yield fell significantly to 3.65% on Monday. Last week, the 10-year Treasury yield briefly crossed 4%, which it hasn’t in more than a decade.
Meanwhile, US oil prices jumped more than 4% on Tuesday, with West Texas Intermediate crude futures trading above $83 a barrel. Last week, they fell to their lowest level in the year. Wednesday, OPEC + will meet Consider cutting production in order to help support falling oil prices.
What to do to try the new stock market rally
Despite Monday’s strong gains, the market trend of IBD remains “market correct”, with heavy selling in recent weeks. This means that investors should stay in cash.
With that said, Monday’s gains started a new attempt to rally in the stock market, and it’s your first day. The action on Day 2 and Day 3 is not relevant as long as the index does not make its recent lows. If this low is trimmed, the rally will be attempted and the market will need to try again.
Next, investors should wait for the follow-up day, which occurs on or after the fourth day. Starting Thursday (Day 4), you are looking at the NASDAQ or S&P 500 index rising sharply in higher trading volumes than the previous session. this Follow-up day. It gives investors the green light to start buying blue-chip stocks that crossed a previous correction buy points. You must keep your portfolio and mindset in sync with the movement of the stock market by gradually committing your capital to leading stocks.
Now, before the possible follow-up day, is the perfect time to build Powerful watchlist A high performance stock. Many long-term leaders tend to breakout at or near follow-through, which is a bearish market signal. Missing this early opportunity can be a costly mistake.
Friday big picture column He commented, “The market averages have now fallen for the third consecutive quarter for the first time since 2009. The comforting bits for investors are the truth. Find IBD Bear markets are formed over three or four waves of intense selling. This appears to be the third stop.”
Dow Jones stocks to watch: UnitedHealth
UnitedHealth stock in Dow Jones advanced 2.1% on Monday, once again finding support around the long-term 200-day line. The stock is building a flat base that has 553.23 buying points, according to IBD Market Smith Graph analysis. The stock is about 7% from its last buying point and is facing a test of resistance at the 50-day line.
UN stock Shows a strong 95 out of a perfect 99 IBD Compound Classificationfor every IBD stock check. Investors can use the IBD composite rating to easily gauge the quality of a stock’s fundamental and technical metrics.
Top stocks to watch: Murphy USA, Neurocrine, Vertex, WWE
Murphy USA gas station and mini-market builds a flat base with 303.19 points of purchase. Shares are up 3.1% on Monday and are approaching potential resistance at the 50-day line. A decisive recovery to this level will be bullish for the base-building prospects for the stock.
Stock pick on Wednesday from 50 IBD to watchNeurocrine Biosciences builds a flat base with 109.36 pts, according to IBD Market Smith Graph analysis. Stocks are just 2% off the buying point after Monday’s 0.5% gain. The RS line reached a new high on Friday, which is a bullish signal.
IBD stock leaderboard Vertex Pharmaceuticals Decisively restore the 50-day streak last week. Stocks build a flat base with 306.05 buy points and early entry at 296.24. The stock topped the early entry during Monday’s gain of nearly 3%. While a weak market condition may keep you on the sidelines, the stock’s resilience makes it a great idea to watch. The RS line is at new highs, a possible sign of an outperformance in the stock market.
World Wrestling Entertainment continues to build a flat base that has entry 75.33. The stock is back above the 50-day line and just 4% away from the buy point. The RS line continues to record new highs.
Tesla stock It fell 8.6% on Monday, closing at its lowest level since July 18, after the company missed estimates on auto deliveries over the weekend.
The electric car giant delivered 343,830 electric vehicles in the third quarter, up 42% from a year earlier and surpassing the first-quarter record of 310,048. It was also 35% higher than 254,695 in the second quarter. The Shanghai factory faced prolonged shutdowns and a slow recovery in the second quarter due to the Covid shutdown.
But analysts expected Tesla to deliver 350,000 to 370,000, with the consensus just above 360,000. Tesla indicated an increase in the number of passing vehicles. But this may reflect weak Chinese demand, spurring an earlier-than-usual export boost from Shanghai.
Shares are down more than 40% from their 52-week high.
Dow Jones Leaders: Apple and Microsoft
within Dow Jones stockApple shares rose 3.1% on Monday, ending a three-day losing streak. However, shares are down more than 20% from their 52-week highs and below their 50 and 200-day lines.
Microsoft stock rose 3.3% on Monday, recovering from Friday’s 52-week low. The software giant is still more than 30% off its 52-week high.
Make sure to follow Scott Lehtonen on Twitter at Tweet embed Learn more about developing stocks and the Dow Jones Industrial Average.
You may also like:
“Beer aficionado. Gamer. Alcohol fanatic. Evil food trailblazer. Avid bacon maven.”