The Dow Jones Industrial Average traded sharply lower on Monday morning, extending losses from the massive stock market sell-off on Friday.
Among the drivers of potential earnings this week are discount retailers general dollar (DJ) And the dollar tree (DLTR), along with Messi (M), nvidia (NVDA), sales force (CRM) And the Toll Brothers (TOL). Palo Alto Networks (bano) And the Video Zoom (ZM) report after Monday’s close.
Cruise operators were having a hard time working early with Norwegian Cruise Lines (NCLH4% discount. Boeing (BA) led declines among the Dow Jones Industrial Average with a 2% loss. Netflix (NFLX) slipped more than 3%, after downgrading to sell and lowering the modest price target from the CFRA.
Chinese stocks showed little response early Monday, after China’s central bank again It cut key lending rates in an effort to help revive economic growth. Ali Baba (Baba) the shares were fixed, while JD.com (Dinar) increased by 1%. Tencent (TCEHY) lost nearly 1%.
electric car leader Tesla (TSLA) is down about 2% on Monday morning. in another place, Technology Pioneers at Dow Jones apple (AAPL) And the Microsoft (MSFT) Both fell sharply after stock market today Open.
In the current healthy environment of the stock market, Albemarle (ALB), Arista Networks (Network), costco (cost) And the Initial deal executor (OLLI) – as well as the shares of Dow Jones coca cola (KO), merck (Mrk) And the McDonald’s (MCD) – among the top stocks to buy and watch.
Albemarle and Costco appeared In stock last week near the buy zone bar. Costco stock added to IBD Leaderboard And the SwingTrader Following last week’s breakout move. Albemarle was new IBD stock today.
Dow Jones today: Treasury yields and oil prices
Early Monday, the Dow Jones Industrial Average was down 1.4%, while the S&P 500 was down 1.7%. The tech-heavy Nasdaq Composite is down 2% in morning trading.
within Exchange Traded FundsNasdaq 100 Invesco QQQ Trust Tracker (QQQ(down 2%, the SPDR S&P 500 ETF)spy) is down 1.7% in early trading.
The 10-year Treasury yield settled at 2.98% early Monday, after a jump last week. The 10-year Treasury yield is approaching the 3% level for the first time since July 21.
Meanwhile, US oil prices fell after losses last week that saw West Texas Intermediate crude futures reach their lowest level since January. West Texas Intermediate crude futures fell 3%, to trade below $88 a barrel.
stock market rise
On Friday, the Nasdaq and S&P 500 broke a four-week winning streak with the worst session of the week on Friday. The Dow Jones Industrial Average fell 0.9%.
The next few days are likely to be key to the stock market’s direction, as the Nasdaq and Dow Jones Industrial Averages test support levels. Meanwhile, the S&P 500 is dropping after finding resistance at its long-term 200-day line, a key area to watch.
Friday big picture column He commented, “A rally could use a respite, and stock market losses suggest at least a respite for major indices. This isn’t necessarily a reason to completely flee investors into cash, but make sure your gains don’t evaporate.”
If you are new to IBD, consider taking a look at stock trading system And the CAN SLIM Basics. He distinguishes chart patterns It is one key to investment guidance. IBD offers a wide range of Stock Growth ListsSuch as leaderboard And the SwingTrader.
Investors can also create watch lists, find companies near a profile buy pointor develop custom screens in IBD Market Smith.
Five Dow Jones stocks to watch right now
Dow Jones stocks to watch: Coca-Cola, McDonald’s, Merck
Dow Jones soda giant Coca-Cola is building a flat base with 67.30 POIs. Handle entry at 65.14 is also in play. The stock rebounds from the 50-day streak and is trying to top the handle entrance. The stock fell 0.5 percent early on Monday.
McDonald’s shares are trading above the 265.56 entry level with a handle after last week’s breakout move. Middle East Clearing’s shares lost 0.6% on Monday morning.
Merck is also building a flat base, a pattern that shows a 95.82 buy point. according to IBD Market Smith Graph analysis. Merck shares fell 0.3 percent on Monday.
MRK Stock Shows a solid value of 94 out of 99 perfect IBD compound classification, for every IBD stock check. Investors can use the IBD composite rating to easily gauge the quality of a stock’s fundamental and technical metrics.
4 Growth Stocks You Should Buy and Watch on Cursstock market rally
Top stocks to watch: Albemarle, Arista, Costco, and Ollie’s
Lithium producer Albemarle gave up 273.78 buy point At the base of a cup with a large handle amid Friday’s decline of 3.4%. Stocks stay above a smaller cup with a handle worth 250.25 buy points. The stock fell more than 1% on Monday morning.
Arista Networks, One of last week’s picks of IBD’s 50 stocks to watch, continues to rise to the right side of the double bottom base showing 143.67 buying points. With the stock still about 9% from the current entry, look for a handle to offer a more ideal buy point for risk. Arista’s RS line is trending higher and approaching a new high. ANET stock was down 2% early Monday.
IBD Leaderboard Costco stock is still in a buying range above a cup with a handle at 552.81 buying points despite Friday’s down 1.15%. Shares were down 0.6% early Monday.
Ollie’s Bargain Outlet is testing it again 10 week streak Critical support level. Stocks found earlier support there in late July, putting the top discount retailer into new buying territory. Stocks are also carved Handle after a large cup base, and put the last buy point at 72.37. The current price action is about 11% away from this entry. Stocks fell on Monday morning.
Join IBD experts as they analyze the leading stocks in the current stock market rally on IBD Live
Tesla stock lost 2.05% on Friday, extending its losing streak into four sessions. Shares of the electric car giant were down 1.5% on Monday morning.
Tesla stock is battling to overcome the resistance around the 200-day line. Tesla is down about 28% from its 52-week high. The 3 for 1 stock split is set for Wednesday.
Dow Jones Leaders: Apple and Microsoft
within Dow Jones stockApple shares sold 1.5% on Friday, like stocks Continues to build the right side of the cup base Which has 179.71 buy points. Another explanation could be a big double bottom that extends into January. In both cases, the point of purchase is identical. The losses in the last couple of days could be the start of a potential handle, which would provide a lower entry point.
On the upside, the stock’s relative strength line has already reached new highs, indicating a significant stock market outperformance. Shares were down 1.2% on Monday morning.
Microsoft stock fell 1.4% on Friday, extending its losing streak into four sessions and moving further away from the long-term 200-day streak. The stock lost 1.5 percent early on Monday.
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