The Dow Jones Industrial Average rose more than 600 points on Tuesday, as Goldman Sachs and Johnson & Johnson reported earnings results and global markets posted healthy gains. Netflix earnings are due after the market closes.
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Stock market today: earnings season continues
Third-quarter earnings season continues with Dow Jones stock results Goldman Sachs (p) And the Johnson & Johnson (JNJ) early Tuesday. Netflix (NFLX) Technology earnings will start after the market closes.
Goldman Sachs shares jumped 4.5% after it beat earnings and sales estimates. J&J shares fell more than 1% after the company reported strong results, but it trimmed its full-year sales guidance.
electric car leader Tesla (TSLA) rose more than 4% on Tuesday as electric car shares rallied in early trading. Among the Dow Jones industrial companies, technology giants apple (AAPL) And the Microsoft (MSFT) was also sharply higher after stock market today Open.
AutoZone (AZO), Cardinal’s health (CAH), Molina Healthcare (Ministry of Health) And the Vertex Pharmaceuticals (VRTX) – as well as the shares of Dow Jones chevron (CVX) And the merck (Mrk) – Among the top stocks to watch. Keep in mind that an ongoing stock market correction is a time when investors sit on the sidelines and build watch lists of the top growth stocks.
Cardinal Health and Vertex IBD Leaderboard Stores. Merck and Molina Healthcare appeared In the stocks column near the buy zone for this week, along with two other ideas for the hottest stocks. AutoZone was IBD stock of Dray Thursday. Cardinal’s health It was stock on friday.
Dow Jones today: Treasury yields and oil prices
After the opening bell on Tuesday, the Dow Jones Industrial Average rose 1.95%, trading over 600 points. The S&P 500 rose 2%, with Tesla, targeting (TGT) And the Etsy (ETSY) trading near the top of the list. The heavy Nasdaq Composite is up 2.3% in the morning’s move.
Overseas, markets across Asia generally closed with solid gains. In Europe, the markets were trading sharply higher in the afternoon action.
within Exchange Traded FundsNasdaq 100 Invesco QQQ Trust Tracker (QQQ(Up 2.6%, the SPDR S&P 500 ETF)spy) 2.2%.
The 10-year Treasury yield reversed early losses to trade just above 4%, even by Monday’s close. US oil prices fell more than 1% on Tuesday, threatening to add to the recent string of losses. West Texas Intermediate crude futures settled just above $83 a barrel.
Continuing to try to rise in the stock market
On Monday, the Nasdaq Composite Index led with a 3.4% gain. The S&P 500 rose 2.7% and the Dow Jones Industrial Average rose 1.9%.
Monday the big picture He commented: “Indicators hold above Thursday’s lows, which currently signal the start of an upward attempt. Resistance tests at 21 day exponential moving averages Come next for the big indexes. The last few attempts haven’t gone well, so the 21 day streaks are definitely worth a look. Also keep in mind that indicators bounce from oversold levels. This is why waiting to follow up is the first step in converting exposure to stocks.”
Psychologically, observing the functioning of the market through repeated attempts to rise can be a difficult process. Investors like to keep watchlists on hand, in order to jump on daily breakouts to follow. But not all follow-ups work, so buying too soon or with too much conviction can lead to frustration.
This is why it is important to increase exposure slowly and methodically, as the uptrend proves itself.
paying off IBD Stock ListsLike the defect 50 And the Stocks near the buying areastock ideas.
Five Dow Jones stocks to watch right now
Dow Jones stocks to watch: Chevron, Merck
Energy giant Chevron continues to hold above the support at the 50-day line and consolidate below 182.50 buying points ahead of the company’s earnings announcement on October 28. Shares of Chevron rose 0.6% early Tuesday, ignoring lower oil prices.
CVX stock boasts 98 strong 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.
Member of Dow Jones and IBD 50 . stock Merck outperforms A double bottom93.12 buy pointAnd the to me IBD MarketSmith Pattern Recognition. The line relative force It hit a new high last week. Third-quarter earnings results are due on October 27, before the opening bell.
Merck stock rose 0.3% on Tuesday morning, well above the buying point.
4 growth stocks to watch at Cursstock market correction
Top stocks to watch: AutoZone, Cardinal, Molina, Vertex
Auto parts leader and Today’s latest stock of IBD AutoZone is approximately 3% away from the cup base purchase point of 2,362.34. Keep an eye out for a potential handle to offer a lower entrance. AutoZone shares slid 0.2% early Tuesday.
IBD Leaderboard Leading equities and medical firm Cardinal Health is forming a flat base with 72.38 points of purchase, according to IBD Market Smith Graph analysis. With dividends payable November 4, shares rose 1.8% on Tuesday.
Molina Healthcare ended Monday just 2% below 361.35 buying points from a flat base. The stock’s RS line hit a new high last week, confirming that the healthcare stock is the leader to watch. Molina’s earnings are expected on October 26th. Shares of the Department of Health rose 1.4% early Tuesday.
Leading biotech company Vertex Pharmaceuticals continues to build a flat base with a buy point of 306.05 and an early entry at 296.90. Its RS line has hit a new high in recent sessions, which is a sign of an outperformance in the stock market. Profits are scheduled for October 27th. Shares are trading up 1.8% on Tuesday morning.
Netflix earnings
Netflix earnings are due on Tuesday after the stock market closes. The streaming giant’s streaming earnings are expected to drop 33% to $2.14 per share on revenue of $7.83 billion.
Netflix stocks are building a double bottom base with 250.49 buy points. The stock is about 65% off its 52-week high.
Tesla Stock
Tesla stock It rose 7% on Monday, nearly erasing Friday’s 7.55% drop. Shares closed Friday at their lowest level since June 2021. Despite Monday’s rally, the stock is still off its 52-week high by about 47%. Tesla stock rose 4.2% on Tuesday.
The electric car giant’s third-quarter results are due out late Wednesday. Tesla is expected to earn $1.01 per share on adjusted sales of $22.1 billion.
Dow Jones Leaders: Apple and Microsoft
within Dow Jones stockApple shares rose 2.9% on Monday, rebounding from Friday’s 3.2% sell-off. With that said, shares are down nearly 23% from 52-week highs and 50- and 200-day lows. AAPL stock advanced 2.7% Tuesday morning.
Microsoft stock rose 3.9% Monday, extending its recovery from last week’s 52-week low. The software giant is about 32% from its 52-week high. Shares advanced 2.3% early Tuesday, as the company reportedly cut nearly 1,000 jobs. Meanwhile, Barclays maintained a plus rating on Dow Jones, lowering its target price from 335 to 310.
Apple earnings are expected on October 27, while Microsoft is due on October 25.
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