Dow Jones futures fell 180 points Tuesday morning, as blue chips 3M and Coca-Cola reported their quarterly earnings results. Next, Microsoft’s earnings are due after closing.
Stock market today: Continued 3rd quarter earnings season
Dow Jones Securities 3M (MMM) and Coca-Cola (KO) was reported on Tuesday. Synthetic engine (GM), Halliburton (HAL), Raytheon Technologies (RTX) and United Parcel Service (UPS) were also among the key reporters Tuesday morning.
MMM stock fell 2.8% after it missed revenue estimates and downgraded its full-year outlook. KO stock rose 2.8% after posting better-than-expected earnings and results.
GM shares rose 3.4% in pre-market trading, while Halliburton gained nearly 2%. Raytheon fell 0.5% after the results, while UPS shares rose 3%.
AutoZone (AZO), Cardinal Health (CAH), Eli Lilly (ONLY) and Texas Roadhouse (TXRH) – as well as Dow Jones stock Merck (A) and UnitedHealth Group (UNH) – is one of the top stocks to watch. Remember that the new stock market rally is the perfect time for investors to put their watchlists to work and hone. tower technique.
Youth rallies, especially those against bear markets, often fail. Pyramiding provides a method of gradually moving into new stock positions, to minimize risk to capital.
Dow Jones today: Treasury yields, oil prices
Before the opening bell on Tuesday, Dow Jones futures were down 0.6%, while S&P 500 futures were down 0.45%. Nasdaq 100 futures fell 0.2% in morning trading.
The yield on the 10-year Treasury note fell to 4.16% on Tuesday morning. On Monday, the yield on the 10-year Treasury note rose to 4.23%, reaching its highest level since June 2008.
Meanwhile, US oil prices fell more than 1% on Tuesday, adding to Monday’s slight losses. West Texas Intermediate futures trade near $83/barrel.
The stock market continues the race
On Monday, the Dow Jones Industrial Average rose 1.3% and the S&P 500 gained 1.2%. The tech-heavy Nasdaq composite index rose 0.9 percent.
Big picture of Monday warned, “The number of institutional-quality stocks forming a solid base or breakout is relatively small. But the opportunities are growing. On Monday, more than 20 stocks appeared on the market,” warned. MarketSmithBreakthrough list of. However, most are not impressed. “
Now is a great time to read IBDSs Large Image Column. After Friday’s rally, investors want to put their curated watchlists to work, for possible future breakouts. But not all followings work, so it’s important to increase visibility slowly and methodically, as the new uptrend has proven itself.
Dow Jones Stocks to Buy and Watch: Merck, UnitedHealth
Dow Jones members and IBD 50 shares Merck tops its buy range on double bottomof 93.12 buy points, based on IBD MarketSmith . Pattern Recognition, followed by a 1.8% prepayment on Monday. 5% buy area increased to 97.78. Third-quarter earnings results will come into effect on Thursday before the opening bell.
Merck stock traded unchanged on Tuesday morning.
Healthcare giant UnitedHealth is approaching cup with handle 553.23 buy points, based on IBD MarketSmith . Pattern Recognition. Shares rose 1.5% Monday, moving closer to the stock’s latest entry. UNH stock inched lower on Tuesday morning.
Top stocks to buy and watch: AutoZone, Cardinal, Eli Lilly, Texas Roadhouse
Auto parts leader and Recent IBD Stocks of the Day AutoZone is breaking through 2,362.34 cup base buy points, racing 4.6% higher on Monday. 5% Chasing Zone increased to 2,480.46. AutoZone stock is inactive on Tuesday.
IBD Rankings Cardinal Health stock is in a buy range after a 71.22 entry of the short cup with handle, according to IBD MarketSmith chart analysis. The stock is also breaking out past a 72.38 buy point of the flat base. Expected earnings for Nov. 4. CAH stock was flat early Tuesday.
IBD SwingTrader Eli Lilly stock closed continuing in a buying range past a 335.43 buy point of flat base, up 2.1% Monday. Shares were flat on Tuesday morning.
Texas Roadhouse is attempting to regain a 95.52 buy point of a flat base after a brief breakout move last week. Stocks ended Monday just above entry. Earnings are due on Thursday. Stocks were flat on Tuesday.
Tesla shares fell as much as 7.4% on Monday before paring losses to 1.5%. The initial loss comes as stocks with high exposure to the Chinese market suffer a drop in price, and after Tesla plans to slash prices of up to 9% on Model 3 and Model Y vehicles sold in China. Shares hit their lowest level since June 2021. Shares closed down about 49% from their 52-week high.
Shares of the EV giant fell 1.1% on Tuesday morning, as Berenberg Bank and Morgan Stanley lowered their price targets. Morgan Stanley analyst Adam Jonas lowered the company’s price target for Tesla from 350 to 330, while keeping the rating overvalued. Jonas warned of “unexpected winds” in the fourth quarter and 2023.
Dow Jones Leaders: Apple, Microsoft
Between Dow Jones SecuritiesShares of Apple rose 1.5% on Monday and are down about 19% from their 52-week high. Despite a recent rally, the stock remains below the 50 and 200-day lines. Apple earnings are Thursday after closing. AAPL stock was down 0.3% Tuesday morning.
Microsoft rose 2.1% on Monday, the second straight day of gains. The stock is still in recovery mode after hitting a 52-week low on Oct. 13. The software giant is still down about 30% from its 52-week high. Shares rose 0.2% on Tuesday.
Microsoft earnings are due after the close. The company is expected to earn $2.31 a share on sales of $49.6 billion.
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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