The Dow Jones Industrial Average fell on Tuesday morning, as the major stock indexes looked to recover from Monday’s stock market sell-off. Dow Jones financial giant JPMorgan jumped after being upgraded to double before the market opened.
automatic zone (AZO) and GitLab (GTLB) were the main earnings reports Tuesday morning. AZO stock fell 3% despite better-than-expected results in the first fiscal quarter, while GitLab stock gained more than 12% in morning trading.
chip manufacturer Taiwan Semiconductor Manufacturing (TSM) announced the opening of a second chip plant in Arizona, increasing its investment there from $12 billion to $40 billion. TSM stock has lost 1% since the beginning.
electric car giant Tesla (TSLA) traded down 2.8% on Tuesday. Dow Jones Technology Leader Apple (AAPL) and Microsoft (MSFT) is mixed later stock market today open. Meanwhile, JPMorgan Chase (JPM) was upgraded from underweight to overweight at Morgan Stanley, the so-called double upgrade, resulting in a gain of more than 1% in morning trading.
poison (CELH), Chubb (CB), IBD Rankings share Dexcom (DXCM) and KLA (KLAC) — as well as the name of Dow Jones caterpillars (CAT) and letter V (CVX) and warehouse at home (HD) — among the top stocks to buy and watch.
Dexcom is a IBD Rankings share. Caterpillar and Home Depot has been featured in this week Stocks near the Buy Zone column. degrees Celsius is a recent time IBD 50 stocks to view options and a New America share. The caterpillar is Thursday Stocks of the Day.
Dow Jones today: Oil prices, Treasury yields
After Tuesday’s opening bell, the Dow Jones Industrial Average fell 0.15%, while the S&P 500 lost 0.3%. The tech-heavy Nasdaq composite was down 0.7% in morning trade, with the China-based index JD.com (JD), Baidu (BIDU) and Trip.com (TCOM) announced the index’s earliest gain.
The yield on the 10-year Treasury note fell to 3.57% Tuesday morning, threatening to give up Monday’s gains. Meanwhile, US oil prices extended Monday’s decline, falling more than 1% on Tuesday. West Texas Intermediate futures are trading back below $76 a barrel.
Stock market recovers
On Monday, the stock market suffered heavy losses, as the tech-heavy Nasdaq composite fell 1.9%. The Dow Jones Industrial Average sold off 1.4%, while the S&P 500 fell 1.8%.
Monday’s Big Picture commented: “While defense is still better than offense at this point, the stock market is still in a confirmed uptrend. That means you can look for stocks to buy, but keep positions small to begin with, while keeping your overall exposure light. IBD Rankingsfor example, is 60% less invested at this point.”
Now is a great time to read IBD . Big Picture Column in the context of stock market volatility.
Dow Jones Stocks to Buy and Watch: Caterpillar, Home Depot, Chevron
Energy giant Chevron fell 2.5% on Monday, ending at just below an 182.50 buy point in a consolidated basis. CVX stock fell 0.2% Tuesday morning, as oil prices continued to fall this week.
Home improvement retailer Home Depot ended Monday below the cup base’s 333.08 buy point. HD shares traded down 0.4% on Tuesday.
Top stocks to buy and watch: C, Chubb, Dexcom, KLA
Energy drink maker Celsius took a three-day winning streak on Monday, slipping 3.5%. Shares are currently about 4% below the cup basis’s 118.29 buy point. Stocks were up 1% on Tuesday.
Chubb moved further above a 216.10 buy point of cup-with-handle on Monday after gaining 0.4% during the session. The 5% buying area peaked at 226.91. The insurance giant traded flat on Tuesday morning.
IBD Rankings Dexcom stock is approaching an alternative entry at 123.46 amid a bullish three-day streak. The stock is about 5% away from their latest stock buy points. Dexcom stock was up 1.3% early Tuesday.
Chip leader KLA ended Monday just below a 392.60 buy point, according to IBD MarketSmith . chart analysis. The key technical strength is the stock’s strong RS line. It hit a new high during Monday’s stock market sell-off. KLA stock was up 0.3% on Tuesday.
Tesla shares fell 6.4% on Monday, ending a three-day winning streak and losing all of the previous week’s gains. Despite recent gains, the stock is still down about 55% from its 52-week high. Meanwhile, the stock seems to be encountering some resistance around the 200 price level, which is an important area to watch.
Shares were down nearly 3% on Tuesday morning.
Leading the Dow Jones: Apple, Microsoft
Between Dow Jones stockShares of Apple fell 0.8% on Monday, but are still clinging to the 50-day moving average. Shares are down more than 20% from their 52-week high. Apple shares traded up 0.1% on Tuesday.
Microsoft fell 1.2% on Monday, as the stock continued to hold above its 50-day moving average. The software giant is still around 27% from its 52-week high. Shares of Microsoft were up 0.5% Tuesday morning.
Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones Industrial Average.
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