Dow Jones futures were higher at Tuesday’s open and ahead of US election results. Key inflation data, including the Consumer Price Index, will be released later in the week.
Republicans of course It will retake the House of Representatives in Tuesday’s midterm elections. They appear to have the edge to win the Senate, although that is far from clear. Democrats currently hold a slim majority in the House, with Vice President Kamala Harris holding the tiebreaking vote in the 50-50 Senate.
On Thursday, the consumer price index was expected to rise 0.7% in October from the previous month. Consumer inflation is expected to rise by 8% per year.
FANG stock traded a fraction lower in extended trading, while Lyft shares fell more than 16%. Mosaic shares soared. And Shockwave shares lost more than 5%.
Stock market today
On Monday, the Dow Jones Industrial Average advanced 1.3%, or more than 400 points, while the S&P 500 gained 1%. The technology-based Nasdaq composite rose 0.85%.
Among the best stocks to buy and watch, Albemarle (ALB), IBD Leaderboard Watch list share Arista Networks (On the sides), CF Industries (CF) and New Fortress Energy (NFE) — as well as Dow Jones names Merck (MRK) and UnitedHealth Group (UNH) — are among the best stocks to buy and watch.
Dow Jones Futures Today: Treasury yields, oil prices
Dow Jones futures were little changed, along with S&P 500 futures and Nasdaq 100 futures ahead of the opening bell on Tuesday. fair value. Remember that it is an overnight operation Dow Jones futures The next routine elsewhere doesn’t necessarily translate into actual trading stock market session.
The 10-year Treasury yield rose to 4.21% on Monday, extending its winning streak to four sessions and ending at its highest level since Oct. 24. Meanwhile, U.S. oil prices fell nearly 1% as West Texas Intermediate futures traded near $92 a barrel. . Last week, WTI futures hit their highest point since mid-October.
Q3 earnings the season
Earnings reports cause many big moves in stocks and require special attention. Strong earnings could fuel stocks above new buy points and buy zones, while a less-than-impressive announcement could send stocks tumbling below key support levels.
The stock market’s reaction to an earnings release can often tell you more than earnings. If results look strong but the stock falls, investors may worry about the sustainability of growth, rising costs or other potential downsides.
As the market rallies, investors should keep an eye on 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 Market Rally
Now is an important time to study IBD’s The Big Picture column After the trend of the stock market changed from “Confirmed Bullish” to “Bull under Pressure”.
At this point, investors should play it safe; Don’t turn a profitable trade into a negative. As The Big Picture reiterated last week, it makes sense to keep exposure at or below 20% until the boom resumes.
But this is no time to walk away completely. The bullishness is still intact, so investors can still buy breakouts but should focus on stocks with high fundamental and technical metrics.
Dow Jones stocks to watch: Merck, UnitedHealth
Health care company UnitedHealth continues to track the trophy with a handle of 553.23. Point to buy, According to IBD MarketSmithFollowing last week’s breakout effort. Shares gained 1.3% on Monday, closing 1% below the stock’s most recent entry.
Best stocks to buy and watch: Albemarle, Arista, CF, New Fortress
Lithium producer Albemarle is forming the right side of a cup base with a 308.34 buy point. Shares rose 0.5% on Monday, extending a winning streak to three sessions.
CF Industries is trying to find support around its 50-day moving average amid Monday’s 1% loss. Shares are forming a cup base with a buy point of 119.70, According to IBD MarketSmith model validation.
New Fortress Energy is fast approaching the 63.16 buy point per cup base. As shares are 6% away from new highs, consider the handle to deliver an earlier entry. The energy leader reported results late Monday, prompting a 1.5% gain on the day.
Tesla stock It slid 5% on Monday, hitting a new 52-week low and its lowest level since June 2021.
Shares are more than 50% above their 52-week highs and below their 50- and 200-day moving average lines.
Dow Jones Leaders: Apple, Microsoft
in the middle Dow Jones StocksApple shares rose 0.4% on Monday The company has warned that it has decreased iPhone 14 production due to Covid-19 restrictions in China Apple stock ended a five-day losing streak, but is still 24% off its 52-week high.
Microsoft rose 2.9% on Monday, continuing its rebound from Friday’s 52-week low. The software company is 35% off its 52-week high.
Don’t forget to follow Scott Lehtonen on Twitter @IBD_SLehtonen Learn more about growth stocks and the Dow Jones Industrial Average.
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