Dow futures rose ahead of Tuesday’s open after the Dow Jones Industrial Average rose more than 550 points on Monday. Netflix earnings were announced late Tuesday, and Tesla’s earnings are scheduled for Wednesday.
Stock Market Today: Bank of America Earnings Charles Schwab
On Monday, the Dow Jones Industrial Average rose 1.9% and the Standard & Poor’s advanced 2.65%. The technology-heavy Nasdaq Composite is up 3.4%. Small cap Russell 2000 rose 3.2%.
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.
Dow futures today: Treasury yields, oil prices
Before the opening bell on Tuesday, Dow Jones futures were up 1.35%, while S&P 500 futures were up 1.6%. Nasdaq 100 futures are up 1.8% against fair value. Remember to work overnight in Dow Jones futures contracts and elsewhere that does not necessarily translate into actual circulation in the next regular session Stock market session.
The 10-year Treasury yield rose to 4.01% to close above 4% for the second consecutive session. Meanwhile, US oil prices extended losses from Friday’s fall, retreating on Monday. West Texas Intermediate crude futures were trading at less than $86 a barrel.
Q3 earnings season
Third quarter earnings season It’s heating up this week, with major reports coming in from Lockheed Martin (LMT), Netflix (NFLX), Procter & Gamble Company (PG), travelers (TRV), Alcoa (AA), IBM (IBM), Tesla, American Express (AXP) And the Verizon Communications (VZ), along with a number of other notable companies.
Earnings reports cause many of the biggest moves in stocks, and require special attention. Strong earnings can push big stocks to previously untouched levels – and above new buying points – while a less impressive announcement can send stocks lower.
The stock market’s reaction to the earnings release can often tell you more than the earnings themselves. If the results look strong but the stock is falling anyway, investors may be concerned about the sustainability of growth, higher costs, or other potential downsides.
As the market enters bullish mode, investors should track companies that easily outperform earnings results and have strong bullish reactions. They could be among the stock market leaders if the market is able to recover.
What to do in the stock market today: look for this key signal
Despite the big gains made on Monday, the market trend is still correcting amid sharp losses in recent sessions. Investors remain on the lookout for the follow-up day, which is the main signal that could lift the market direction into a confirmed uptrend. The Nasdaq and S&P 500 could launch this trend change day on Tuesday (the fourth day of the current rally attempt) at the earliest. With the trend of IBD “market correcting” investors are safer on the sidelines.
Now is the perfect time to build Powerful watchlist A high performance stock. Many long-term leaders tend to breakout on or near the follow-up day, which is the market’s signal to a bottom. Missing this early opportunity can be a costly mistake.
Friday big picture column He commented, “Technically speaking, an attempt to rally is sound but a reversal reduces the potential for an upside Follow-up. The 21 day exponential moving averages It remains strong resistance, so investors should monitor the return of buyers.”
Dow Jones stocks to watch: Chevron, Merck
Energy giant Chevron continues to consolidate above the 50-day line, building a base showing 182.50 buying points. An early entry at 166.93 is also in play. Chevron stock rose 0.7% on Monday.
CVX stock boasts 98 strong out of 99 perfect IBD Compound Classificationfor 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. Shares rose 2.1% on Monday, to close above the buying point. Keep in mind that a continuous correction in the market is a reason to remain neutral; However, the stocks are showing abnormal signs of strength. The line relative force It hit a new high last week. Third-quarter earnings results are due on October 27, before the opening bell.
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 rose 1.5% on Monday.
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.
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.
Netflix earnings are due on Tuesday after the stock market closes. The streaming giant’s adjusted EPS ratio is expected to drop 33% to $2.14 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 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%.
Third-quarter results from the electric car giant 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.
Microsoft advanced 3.9%, continuing its recovery from last week’s 52-week low. The software giant is about 32% from its 52-week high.
Apple earnings are expected on October 27, while Microsoft is due on October 25.
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