The Dow Jones Industrial Average fell on Tuesday, after a tough session on Monday. China-based stocks alibaba (slime), jd.com (JD) Y pinduoduo (dpd) rallied sharply, as China eased Covid-19 concerns.
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Tuesday’s modest dose of economic news includes the Case-Shiller home price index for September and November consumer confidence figures from the Conference Board at 10 am the previous month.
Looking ahead to the rest of the week, the ADP National Employment Report and the Commerce Department’s Q3 GDP Flash Estimates will be released on Wednesday. Weekly jobless claims and inflation data are due Thursday, while the Labor Department’s November jobs report is due Friday.
Finally, Fed Chairman Jerome Powell will speak at the Brookings Institution on Wednesday.
Hibbett (HI BB) reported earnings before the open on Tuesday. HIBB shares fell more than 12% in morning trading.
Earnings reports later this week included crowdstrike (CRWD), general dollar (managing Director) Y to sense (INTU). Dow Jones stock is also included Sales force (CRM), With Snowflake (SNOW), Ulta Beauty (LAST) Y Workday (WDAY).
China stocks far outperformed early Tuesday as they Chinese health officials moved to ease concerns about Covid-19 lockdowns and policies. Alibaba jumped 6% and JD.com rose 8%. Pinduoduo added 4.3% to Monday’s breakout move.
Darden Restaurants (RDI) Y Roku (ROKU) both saw analyst downgrades early Tuesday, sending their respective stocks lower. DRI shares fell more than 1%, while Roku shares fell 4.5%. At the top, United Parcel Service (UPS) rose 2% after Deutsche Bank upgraded the stock’s rating to a buy rating.
electric vehicle giant tesla (TSLA) were trading 0.5% lower on Tuesday morning. Dow Jones Technology Leaders Apple (AAPL) Y Microsoft (MSFT) were modestly lower after stock market today open Both Tesla and Apple have strong exposure to circumstances in China.
IPO Leader matrix Technologies, IBD Classification Table Values Arista Networks (A NETWORK), Celsius (CELH) Y Chubb (BC), as well as the names of Dow Jones Boeing (LICENSED IN LETTERS), Caterpillar (CAT) Y Chevron (CLC), are among the top stocks to buy and watch.
Arista Networks is a IBD Classification Table stock and was a recent IBD stock of the day. Boeing is a IBD SwingTrader Stocks and was one of the four leaders Featured this week Column Stocks near a buy zone. centigrade was Monday’s IBD 50 Stock Picks to Watch.
Dow Jones Today: Oil Prices, Treasury Yields
After the opening bell on Tuesday, the Dow Jones industrial average fell 0.2%, while the S&P 500 lost 0.1%. The technology-heavy Nasdaq Composite was down 0.15% in morning action, with Chinese names propping up the index in early action.
Come in exchange traded fundsNasdaq 100 follower Invesco QQQ Trust (QQQ) fell 0.1% early Tuesday, and the SPDR S&P 500 ETF (TO SPY) lost 0.15%.
The 10-year Treasury yield rose to 3.75% Tuesday morning, holding close to recent lows. Last week, the 10-year Treasury yield closed at 3.69%, its lowest closing since October 1. 4. Meanwhile, US oil prices rallied 2% after hitting their lowest level since December 2021 on Monday. West Texas Intermediate futures traded just below $79 a barrel.
stock rally
On Monday, the stock market posted heavy losses as the Nasdaq tech composite sold off 1.6%. The Dow Jones Industrial Average fell 1.45% and the S&P 500 lost 1.5%.
The big picture for Monday commented: “The S&P 500 closed below the 4,000 level again, just three sessions after recovering it. The Nasdaq remained in a sideways range, still above its 50 day moving average. The Dow Jones, for its part, sank back below the 34,000 level.
Now is an important time to read. IBD’s The Big Picture column amid the current stock market volatility.
Five Dow Jones Stocks to Buy and Watch Now
Dow Jones Stocks to Buy and Watch: Boeing, Caterpillar, Chevron
Aerospace giant Boeing fell 3.7% on Monday, dipping back below the buy point of 173.95 of a cup basis. Look for a decisive retake of that input before considering a Boeing stock purchase. Boeing shares rose 1% on Tuesday.
Dow Jones member Caterpillar is close to retaking 238 from its cup base point of purchase, according to IBD MarketSmith Pattern Recognition, and is about 2% below the input. CAT shares gained 0.8% on Tuesday.
CAT shares boasts an impressive 96 out of a perfect composite score of 99 IBD, according to the IBD Stock Check.
Energy giant Chevron fell 2.9% on Monday, giving up its buy point of 182.50 on a consolidation basis. CVX shares rose 1.7% on Tuesday morning, rebounding along with oil prices.
4 Top Growth Stocks to Watch in the Current stock rally
Top Stocks to Buy and Watch: Array, Arista, Celsius, Chubb
Solar leader and IPO stock Array Technologies gave up its buy point of 22.40 in a mug with a handle during the dip on Monday, according to IBD MarketSmith Pattern Recognition. Shares are around 3% below entry. Further weakness would trigger the 7% to 8% Stop Loss Selling Rule. ARRY shares gained 0.6% on Tuesday morning.
IBD Classification Table Arista Networks shares remain in the buy range above a choppy base of 132.97 point of purchase despite Monday’s 1.5% loss. ANET shares traded 0.3% lower on Tuesday.
Energy drink maker Celsius fell back 1.3% on Monday as shares continue to form a cup basis with a buy point of 118.29. The weakness on Monday could be the start of a potential mango that would offer a lower entry. The stock was down 0.6% on Tuesday.
Chubb is trading just below the 216.10 buy point of a cup with a handle on Monday after slight losses for the session. The 5% buy area will top out at 226.91 if stocks recover entry. The insurance giant was down 0.1% on Tuesday morning.
Join IBD experts as they discuss the top stocks in the current stock market rally on IBD Live
Tesla Stock
tesla shares It inched higher on Monday as the stock continues to recover from its recent lows. Last week, the stock hit its lowest level since November 1. on January 23, 2020, hitting a new 52-week low price at 166.19. Tesla shares are around 55% below their 52-week high and well below their 50-day and 200-day moving average lines.
Shares of the electric vehicle giant were down 0.5% on Tuesday morning.
Dow Jones Leaders: Apple, Microsoft
Come in dow jones stock, Apple shares sold off 2.6% on Monday, breaking below their 50-day support level. Apple iPhone Pro production could fall short of 6 million units due to civil unrest and Covid restrictions in China, according to reports. The stock is more than 20% below its 52-week high.
Apple shares fell 0.2% on Tuesday.
Microsoft fell 2.3% on Monday, falling for the second session in a row. Stocks continue to hold above the 50-day line. The software giant remains around 30% below its 52-week high. Microsoft shares were down Tuesday morning.
Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more information on growth stocks and the Dow Jones Industrial Average.
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