Dow Jones Futures Rally As Tesla Gives Up Key Level; Baidu Jumps On Earnings – Investor’s Business Daily
Dow Jones futures, along with S&P 500 futures and Nasdaq 100 futures, were higher early Tuesday. Tesla stock broke down through a key support level with sharp losses Monday. Baidu (BIDU) jumped after reporting earnings ahead of the open.
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The stock market slashed losses Monday. The tech-heavy Nasdaq composite closed down 0.4%. The S&P 500 lost 0.25%, while the Dow Jones Industrial Average eased 0.2% lower.
Among the Dow Jones leaders, Apple (AAPL) sold off 0.9% Monday, while Microsoft (MSFT) declined 1.2% in today’s stock market. Goldman Sachs (GS) and JPMorgan (JPM) are in buy zones after recent breakouts.
Tesla (TSLA) continues to struggle, sliding over 2% Monday to again fall below its key long-term 200-day moving average line.
Among the top stocks to buy and watch, Alphabet (GOOGL), ASML (ASML), Jefferies Financial Group (JEF) and Cameco (CCJ) are in or near buy zones.
ASML and Microsoft are IBD Leaderboard stocks. Jefferies was Wednesday’s IBD 50 Stocks To Watch pick. Cameco was Monday’s IBD Stock Of The Day, while Alphabet was featured in this week’s Stocks Near A Buy Zone column.
Dow Jones Futures Today
Ahead of the stock market open Tuesday, Dow Jones futures rose 0.15% vs. fair value, while S&P 500 futures gained 0.1%. Nasdaq 100 futures moved up 0.5% vs. fair value. Remember that trading in Dow Jones futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.
Among exchange traded funds, the Innovator IBD 50 (FFTY) traded up 0.2% Monday. Nasdaq 100 tracker Invesco QQQ Trust ETF (QQQ) lost 0.6%. Meanwhile, the SPDR S&P 500 ETF (SPY) dropped 0.25%.
Split Stock Market Rally
The Dow Jones Industrial Average and S&P 500 eased further from their recent all-time highs following Monday’s modest losses, but remain within striking distance. Meanwhile, the tech-heavy Nasdaq remains below its 50-day line Monday. The composite is about 6% off its record high.
Friday’s Big Picture column commented, “The stock market ended the week on a high note Friday …….