Dow Jones Drops Ahead of Fed Minutes; Tesla Stock Plunges to New Lows

Dow Jones Drops Ahead of Fed Minutes;  Tesla Stock Plunges to New Lows
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Dow Jones Futures rose ahead of Tuesday’s open after the Dow Jones Industrial Average ended with modest losses on Monday. Tesla stock has bottomed, hitting a 52-week low and approaching a two-year low. The minutes of the Federal Reserve’s latest policy meeting will be released on Wednesday.


The short holiday week will receive a flood of economic data on Wednesday, including consumer sentiment, durable goods orders, first-time jobless claims, PMI readings and new home sales. The stock market will be closed on Thursday for Thanksgiving and there will be a shortened trading session on Friday.

Dell (DELL), city ​​plumbers (URBAN) and Zoom video (ZM) were major earnings carriers late Monday. DELL stock fell 2.5% in expanded trading, while Urban shares rose nearly 3%. Zoom Video stock fell more than 5% in late trading.

Third quarter earnings season continues this week. reports from Baidu (BIDU), best buy (BBY), Deere (Germany), Dick’s Sporting Goods (DKS), dollar tree (DLTR) and Nordström (JWN).

Stock Market Today

On Monday, the Dow Jones Industrial Average lost 0.1%, or 45 points, and the S&P 500 fell 0.4%. The tech-heavy Nasdaq composite sold at 1.1%.

between exchange traded fundsNasdaq 100 followers Invesco QQQ Trust (QQQ) fell 1% and SPDR S&P 500 (SPY) fell 0.4%.

electric vehicle giant tesla (TSLA) slipped 6.8% on Monday. between Dow Jones stocks, Apple (AAPL) traded down 2.2% and Microsoft (MSFT) increased 0.3% today’s stock market.

IBD Leaderboard stock available Arista Networks (A NETWORK), Global Foundries (GFS), CLA (BAT) and Swarm Technologies (SHLS) – as well as the Dow Jones name caterpillar (CAT) — among the best stocks to buy and watch.

Arista Networks a IBD Leaderboard it was stock and a new IBD share of the day. Global Foundries published last week The Stocks Near a Buying Zone column. there were flocks Thursday’s selection of IBD 50 Stocks to Watch.

4 Best Growing Stocks To Buy And Watch Over Timeyearkt Stock Market Rally

Dow Jones Futures Today: Treasury Yields, Oil Prices

Before the opening bell on Tuesday, Dow Jones futures were up 0.2% above fair value, while S&P 500 futures were up 0.25%. Technology-heavy Nasdaq 100 futures rose 0.3%. reasonable value. Remember, overnight action Dow Jones futures and elsewhere it doesn’t necessarily turn into real trade on the next regular trade Exchange session.

The 10-year Treasury yield rose 3.82% on Monday, ending a two-day winning streak.

U.S. oil prices fell shortly after Monday. The Wall Street Journal reported That OPEC is considering a production increase of up to 500,000 barrels per day. Later, Saudi Arabia denied the report and sent oil prices sharply from their bottoms. West Texas Intermediate futures traded below $76 a barrel on Monday before cutting losses.

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

What is done in the Stock Market Rally?

Now is an important time to read IBD’s Big Picture column the stock market trend has returned to a “confirmed uptrend”.

It is important to be flexible during this period. Despite the recovery in early November, investors should take a cautious stance and limit risk to no more than 40%. Wait for further confirmation of sustained power before adding more exposure. Immediate distribution in major stock indices will be a sign of staying more defensive.

If your recent stock purchases continue to make progress, you should feel more confident in the stock market rally. But sharp reversals and losing trades will of course be signs to keep your dust more dry.

(Payment IBD Stock Lists as IBD 50 and Stocks Close to the Buying Zonefor additional stock ideas.)

Five Dow Jones Stocks to Buy and Watch Now

Dow Jones Stocks to Watch: Caterpillar

Dow Jones member Caterpillar is below 238 of a coupe floor point of purchase, according to this IBD MarketSmith pattern recognition, after one last breakout attempt. Caterpillar shares rose 0.3% on Monday.

cat stock It has an impressive 95 out of an excellent 99 IBD Compound Rating. IBD Stock Control.

Best Stocks to Buy and Watch: Arista, GlobalFoundries, KLA, Shoals

IBD Leaderboard Arista Networks stock stays above a volatile bottom 132.97 point of purchase Despite Monday’s 0.6% drop.

Chip foundry GlobalFoundries is still in buying range above a buy point of 66.06 on a mug basis, after losing 2.05% on Monday. according to this IBD MarketSmith pattern recognition.

KLA is building a handle mug with a buy point of 392.60 amid Monday’s 1.1% drop. Like the bulls, the stock’s relative strength line hit a new high last week, a sign of great performance against the US. S&P 500.

Shoals Technologies stayed out of buying range above a buy point of 28.57, despite the second straight drop on Monday. The 5% buy zone peaked at 30. Wait for a regular pullback to the buying range before considering buying the stock.

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

Tesla Stock

Tesla stock It slid 6.8% on Monday, extending its losing streak to four sessions and falling to its lowest level since November 1st. 23, 2020.

The stock is about 58% down from its 52-week high and sharply below the 50- and 200-day moving average lines. Meanwhile, the stock’s RS line continues to hit new lows, showing the major stock market underperforming. S&P 500.

Dow Jones Leaders: Apple, Microsoft

between Dow Jones stocksApple shares sold 2.2% on Monday, but still holding above the recently recaptured 50-day line. The stock is about 20% down from its 52-week high.

Microsoft rose 0.3% on Monday, ending a three-day streak of losses. Stocks continue to hold above the 50-day line. The software giant is down more than 30% from its 52-week high.

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


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