Election results, inflation data in sight; Tesla hits a new low

Dow Jones futures were little changed ahead of Tuesday’s open and the US election results. Key inflation data, including the consumer price index, will be released later in the week.


almost certainly republicans he will retake the House of Representatives in Tuesday’s midterm elections. They seem to have the advantage of winning the Senate, although that is not so clear. Democrats currently hold a slim majority in the House, with Vice President Kamala Harris holding the tiebreaking vote in the Senate 50-50.

The consumer price index, to be released on Thursday, is expected to rise 0.7% in October from a month earlier. Consumer inflation is expected to rise 8% year over year.

diamond back energy (CANINE), lyft (LYFT), Mosaic (MOS) Y medical shock wave (SMASH) were key earnings reporters on Monday night.

FANG shares traded a fraction lower in extended trading, while Lyft shares sank more than 16%. Mosaic shares edged up. 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, and the S&P 500 gained 1%. The tech-heavy Nasdaq Composite rose 0.85%.

Among exchange traded fundsNasdaq 100 tracker Invesco QQQ Trust (QQQ) rose 1.1% and SPDR S&P 500 (TO SPY) rose 0.9%.

giant EV Tesla (TSLA) slipped 5% on Monday. Among dow jones stocks, Apple (AAPL) traded 0.4% higher and Microsoft (MSFT) jumped 2.9% in stock market today.

Among the top stocks to buy and watch, shelter him (SUNRISE), IBD classification table action watch list Arista Networks (sides), CF Industries (HR) Y new energy fortress (NFE), as well as the names of Dow Jones Merck (MRK) Y United Health Group (UNH), are among the top stocks to buy and watch.

Arista Networks is a IBD classification table watchlist actions. shelter him it was presented in the Stocks column near a buy zone this week, along with three other top stock ideas.

4 Top Growth Stocks to Buy and Watch in the Current stock market rally

Dow Jones Futures Today: Treasury Yields, Oil Prices

Before the opening bell on Tuesday, Dow Jones futures, along with S&P 500 futures and Nasdaq 100 futures, were little changed against fair value. Remember that the overnight action in Dow Jones Futures and elsewhere does not necessarily translate to actual trading in the next regular stock Exchange session.

The 10-year Treasury yield rose to 4.21% on Monday, extending a winning streak to four sessions and closing at its highest level since Oct. 24. Meanwhile, US oil prices. Last week, WTI futures hit their highest point since mid-October.

IBD’s latest newsletter, MarketDiem, brings actionable insights on stocks, options, and cryptocurrencies straight to your inbox.

Third Quarter Earnings Season

Third Quarter Earnings Season continues this week, with more key reports coming from Disney (DIS), double check (YOU), dr horton (DHI), Western (OXY) Y Roblox (RBLX).

Earnings reports drive many of the biggest moves in stocks and require special focus. Strong earnings can push major stocks above new buy points and into buy zones, while a less-than-impressive announcement can send shares below key support levels.

The stock market’s reaction to an earnings release can often tell you more than the earnings themselves. If results look strong but stocks are still down, investors may be concerned about the sustainability of growth, rising costs, or other potential downsides.

With the market in rally mode, investors should be following companies that easily outperform earnings results and have strong bullish reactions. These stocks could be among the new leaders if the market is able to recover from its recent losses.

What to do in the distressed stock market rally

Now is an important time to read. IBD’s The Big Picture column after the transition of the stock market trend from a “confirmed uptrend” to a “uptrend under pressure”.

At this point, investors should be playing defense; don’t let profitable trades turn negative. As The Big Picture reiterated last week, it makes sense to hold exposure at or below 20% until the uptrend resumes.

But now 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-tier fundamental and technical metrics.

(Verify IBD Stock Lists As the IBD 50 Y Stocks near a buy zonefor more stock ideas).

Five Dow Jones Stocks to Buy and Watch Now

Dow Jones Stocks to Watch: Merck, UnitedHealth

Dow Jones member and Stock of IBD 50 Merck is out of buy range after a false bottom93.12 point of purchase. The 5% buying range rose to 97.78.

Health care giant UnitedHealth keeps looking at a cup with a handle 553.23 point of purchase, according to IBD MarketSmithafter last week’s breakout attempt. The shares rose 1.3% on Monday, closing about 1% below the stock’s last entry.

Top Stocks to Buy and Watch: Albemarle, Arista, CF, New Fortress

Lithium producer Albemarle is building the right side of a cup base that has a buy point of 308.34. Shares rose 0.5% on Monday, extending a winning streak to three sessions.

IBD classification table watchlist shares Arista Networks are trying to break above a choppy base of 132.97 point of purchase. Shares fell 0.4% on Monday.

CF Industries is trying to find support around its 50-day moving average amid Monday’s 1% loss. Stocks are building a cup base that has a buy point of 119.70, based on IBD MarketSmith pattern recognition.

New Fortress Energy is rapidly approaching the 63.16 base cup buy point. With shares 6% off new highs, keep an eye out for a handle to offer an earlier entry. The energy leader reported results on Monday night, leading to a 1.5% gain on the day.

Join IBD experts as they discuss the top stocks in the current stock market rally on IBD Live

Tesla Stock

tesla shares fell 5% on Monday, hitting a new 52-week low and hitting its lowest level since June 2021.

The stock is more than 50% below its 52-week high and well below its 50- and 200-day moving average lines.

Dow Jones Leaders: Apple, Microsoft

Among dow jones stocksApple shares rose 0.4% on Monday despite the company warns that it has reduced iPhone 14 production due to Covid-19 restrictions in China. Apple shares ended a five-day losing streak but are still 24% off their 52-week high.

Microsoft jumped 2.9% on Monday, continuing its recovery from Friday’s 52-week low. The software giant is still 35% down from its 52-week high.

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


Top Growth Stocks to Buy and Watch

Learn to time the market with IBD’s ETF market strategy

Find the best long-term investments with IBD’s long-term leaders

MarketSmith: research, charts, data and advice all in one place

How to Research Growth Stocks: Why This IBD Tool Simplifies Finding Top Stocks

Leave a Comment

Your email address will not be published. Required fields are marked *