Dow Jones futures rose ahead of Tuesday’s opening and US election results. Key inflation data, including the Consumer Price Index, will be released later this week.
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Republicans almost certainly He will retake the House of Representatives in Tuesday’s midterm elections. While less clear, they seem to have the upper hand in winning the Senate. Democrats currently have a weak majority in the House, with Vice President Kamala Harris holding a 50-50 tiebreak vote in the Senate.
The Consumer Price Index, which will be released on Thursday, is expected to rise 0.7% in October. last month. Consumer inflation is expected to increase by 8% year-on-year.
Diamond Back Energy (FANG), Lyft (TO PICK UP), Mosaic (MOS) and shock wave medical (SWAV) were key earnings reporters late Monday.
FANG stock traded slightly lower in extended trading, while Lyft shares fell more than 16%. Mosaic shares rose. And Shockwave shares lost more than 5%.
Stock Market Today
On Monday, the Dow Jones Industrial Average rose 1.3%, or over 400 points, and the S&P 500 gained 1%. The tech-heavy Nasdaq composite was up 0.85%.
between exchange-traded fundsNasdaq 100 tracker Invesco QQQ Trust (QQQ) rose 1.1% and the SPDR S&P 500 (SPY) rose 0.9%.
electric vehicle giant tesla (TSLA) Monday shifted 5%. between Dow Jones stocks, Apple (AAPL) rose 0.4% and Microsoft (MSFT) increased by 2.9% today’s stock market.
Among the best stocks to buy and watch, albemarle (ALB), IBD Leaderboard stock watch list Arista Networks (A NETWORK), CF Industries (CF) and New Castle Energy (NFE) — and also Dow Jones names Merck (MRK) and United Health Group (UNH) — among the best stocks to buy and watch.
Arista Networks is a IBD Leaderboard stock watch list. albemarle came to the fore In this week’s Shares Near Buy Zone column, along with three other key stock ideas.
Top 4 Stocks to Buy and Watch on Curyearen Stock Rally
Dow Jones Futures Today: Treasury Yields, Oil Prices
Ahead of Tuesday’s opening bell, Dow Jones futures were little changed against Dow Jones futures, along with S&P 500 futures and Nasdaq 100 futures. reasonable value. Remember that 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 4.21% on Monday, extending its winning streak to four sessions and closing at its highest level since October. 24. Meanwhile, US oil prices fell almost 1% as West Texas Intermediate futures traded near $92 per barrel. Last week, WTI futures hit their highest level since mid-October.
3rd Quarter Earnings Season
Third quarter earnings season continues this week, with more important reports coming Disney (EXTERNAL), DoubleVerify (DV), Doctor Horton (DHI), western (OXY) and roblox (RBLX).
Earnings reports cause many of the biggest moves in stocks and require special focus. Strong gains could feed top stocks above new buy points and into overbought zones, while an unimpressive announcement could cause shares to drop below key support levels.
The stock market’s reaction to a earnings release can often tell you more than the earnings themselves. If results look strong but the stock still slides, investors may be concerned about the sustainability of growth, rising costs, or other potential downsides.
When the market is in rally mode, investors should watch for companies that easily beat earnings results and have strong upside reactions. If the market can recover from its recent losses, these stocks could be among the new leaders.
What to Do in a Struggling Stock Rally
Now is an important time to read IBD’s Big Picture column transition from a “confirmed uptrend” to a “pressured uptrend” after a stock market trend.
At this point, traders need to play defense; Don’t let profitable trades turn negative. As The Big Picture repeated last week, it makes sense to keep exposure at 20% or below until the uptrend continues.
But this is not the time to walk away completely. The uptrend is still intact, so investors can still buy breakouts, but should focus on stocks with top-notch fundamental and technical metrics.
(Payment IBD Stock Lists as IBD 50 and Stocks Near a Buying Zonefor additional stock ideas.)
Five Dow Jones Stocks to Buy and Watch Now
Dow Jones Stocks To Watch: Merck, UnitedHealth
Dow Jones member and IBD 50 stock Merck is out of purchasing range double bottom point93.12 point of purchase. 5% buying range increased to 97.78.
Health giant UnitedHealth continues to look at a 553.23-handled mug point of purchase, according to this IBD MarketSmithafter last week’s breakout attempt. Shares rose 1.3 percent on Monday and closed about 1 percent below the stock’s recent entry.
Best Stocks to Buy and Watch: Albemarle, Arista, CF, New Fortress
Lithium manufacturer Albemarle is building the right side of a cup base with 308.34 intake points. Shares rose 0.5% on Monday, extending their winning streak to three sessions.
IBD Leaderboard watchlist stock Arista Networks tries to surpass 132.97 of a volatile base point of purchase. Shares were down 0.4% on Monday.
CF Industries is trying to find support at its 50-day moving average amid Monday’s 1% loss. The shares form a bottom of the cup with 119.70 buying points, According to IBD MarketSmith pattern recognition.
New Fortress Energy is fast approaching the 63.16 point of purchase of a cup bottom. Watch out for a lever that will offer an earlier entry as the stock is about 6% off new highs. The energy leader reported results late Monday, posting a 1.5% gain on the day.
Tesla Stock
Tesla stock It slipped 5% on Monday to a 52-week low and hit its lowest level since June 2021.
Shares are down more than 50% at 52-week highs and sharply below the 50- and 200-day moving average lines.
Dow Jones Leaders: Apple, Microsoft
between Dow Jones stocksApple shares rose 0.4% on Monday company alert down iPhone 14 production due to Covid-19 restrictions in China. Apple stock has ended a five-day streak but is still down about 24% from its 52-week high.
Microsoft rose 2.9% on Monday and continued its recovery from Friday’s 52-week low. The software giant is about 35% off 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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