Dow Jones Futures: What To Do After Today’s Stock Market Sale Before The Key Inflation Report

Dow Jones futures changed slightly after Monday’s stock market sale. An important inflation report – the consumer price index – will be published on Tuesday morning before the market opens.


Stock exchange today

On Monday, the Dow Jones Industrial Average sold 1.2% and the S&P 500 fell 1.7%. The technology-heavy Nasdaq composite toppled 2.2 percent. Among exchange-traded funds, the Nasdaq 100 tracker Invesco QQQ Trust (QQQ) fell 2.4% and the SPDR S&P 500 ETF (SPY) lost 1.7% on Monday.

Head of electric cars Tesla (TSLA) slipped nearly 5% on Monday. Twitter (TWTR) returned from losses to end 1.7% higher after Tesla CEO Elon Musk decided not to be corporate director.

Overview of the US stock market today

Index Symbol Price Profit / loss % Change
Dow Jones (0DJIA) 34309.07 -412.05 -1.19
S&P 500 (0S & P5) 4412.83 -75.45 -1.68
Nasdaq (0NDQC) 13411.96 -299.04 -2.18
Russell 2000 (IWM) 196.54 -1.33 -0.67
IBD 50 (FFTY) 35.89 -0.71 -1.94
Last update: 16:30 ET 4/11/2022

Chip stocks were among the weakest results of the day. Nvidia (NVDA) fell 5.2% on an analyst downgrade. Advanced micro-devices (AMD) fell 3.6% to reach its lowest level since July 2021.

As the stock market’s upward trend continues to struggle, the Dow Jones is the financial leader American Express (AXP) – together with Alphabet (GOOGL), Broadcom (AVGO), IBD Leaderboard Watchlist Stock Edwards Lifesciences (THAT ONE), Raytheon technologies (RTX) and Must (SHEL) – is among Tuesday’s best stocks to buy and see.

Elsewhere among Dow Jones executives, Apple (AAPL) fell 2.55% and Microsoft (MSFT) fell 3.9% in today’s stock market.

Microsoft and Tesla are IBD Leaderboard shares. Edwards Lifesciences and Raytheon Technologies were featured in this week’s columns Stocks Near a Buy Zone.

Dow Jones Futures Today: Treasury Yields, Oil Prices, CPI

After Monday’s close, Dow Jones futures, S&P 500 futures and Nasdaq 100 futures changed only slightly at fair value. Keep in mind that overnight trading in Dow futures and elsewhere does not necessarily translate into actual trading in the next regular stock market session.

The 10-year US government bond extended a winning streak to seven sessions on Monday, rising to 2.78%, the highest level since January 2019. US oil prices fell more than 3% on Monday as West Texas Intermediate crude traded below $ 95 per barrel. . barrel. China’s worsening virus outbreak is also raising concerns about potential demand.

Consumer prices in March are expected to have risen 1.1% for a year-on-year rate of 8.4% – according to Econoday estimates – which would be the fastest rise since December 1981. The consumer price index measures the inflation rate. Meanwhile, the White House said it expects “the CPI’s overall inflation (figures) in March will be extraordinarily high due to Putin’s price increase.”

The Ministry of Labor will release CPI at. 8:30 ET.

Stock market rally matches: What to do now

On Monday, the stock market delivered another disappointing performance, with the major stock indices ending in heavy losses. Nasdaq stumbled further below its 50-day line, which had been an important level of support to see.

Although the underlying trend is still intact, it is time to proceed with a greater degree of caution. Be wary of most new purchases, and focus only on stocks that have exceptional fundamental values ​​and large volume outbursts past correct buying points. Also be flexible. The market may rise and move back to “confirmed uptrend”, or the heavy sales may continue and lead to a correction.

Monday’s The Big Picture column commented: “The S&P 500 tumbled 1.7% and closed slightly below the 50-day moving average. The index is now trying to find support at that level. But if Nasdaq is any indication, the composite melted right through its 50 -day line Monday after a preliminary team on it the previous two sessions. “

If you are new to IBD, consider taking a look at its stock trading system and CAN SLIM basics. Recognizing chart patterns is a key to investing guidelines. IBD offers a wide range of growth stock lists, such as Leaderboard and SwingTrader.

Investors can also create watchlists, find companies approaching a point of purchase, or develop custom monitors at IBD MarketSmith.

Four Dow Jones shares to see now

Dow Jones shares to buy and see: American Express

Dow Jones financial stock American Express tracks a cup with handles with a buy point of 194.45. Shares fell 3.3% on Monday, ending about 9% off the most recent entry.

Keep an eye on the stock’s relative strength line. In the midst of its recent descent, the RS line is beginning to fade further from its old heights, meaning it has been working on itself ahead of a potential eruption. The RS line measures a share price development relative to the S&P 500. The RS line should reach a new high on the breakout day or shortly thereafter to confirm the strength of a share breakout.

Four Top Growth stocks to see in Curenrrally in the stock market

Shares to buy and view: Alphabet, Broadcom, Edwards, Raytheon, Shell

The latest IBD 50 Shares To Watch, Alphabet, shows a buy point of 2,875.97 in a cup with handles, according to IBD MarketSmith chart analysis. GOOGL shares are about 10% off the entry after Monday’s 3.35% slide.

Broadcom fell a further 1.1% on Monday as the chip stock moved further below an early entry of 614.74. The stock is approaching a 7% -8% loss. The stock also gave up support on its 50-day line in recent sessions. Meanwhile, the stock has introduced another buy point, a handle of 645.41.

IBD Leaderboard Watchlist stock Edwards Lifesciences continues to move up the right side of a cup base showing a buyout point of 131.83. The stock fell nearly 2% on Monday. Monday’s weakness is likely to be the start of a leverage that would lower the risk-optimal entry to 125.21.

Defense contractor Raytheon Technologies is within striking distance of a flat base 104.44 buy points. Shares rose 1.7% on Monday and traded only 2% off the latest post.

Oil and gas maker Shell, the April 1 IBD Stock Of The Day, is just below a flat base’s 56.23 buy points after Monday’s fall of 1.4%.

Join IBD experts as they analyze leading stocks in the current stock market rally on IBD Live

Tesla shares

Shares of Tesla slipped 4.8% on Monday, increasing Friday’s 3% drop. Shares in the EV giant closed about 15% off a cup-with-handle buy point of 1,152.97 on Monday.

The stock traded as high as 1,243.49 on November 4 and closed about 22% off the highest level ever on Monday.

Dow Jones executives: Apple, Microsoft

Among Dow Jones shares, Apple shares fell 2.55% on Monday, further below a buy point of 176.75 in a double-bottom base. The stock is close to triggering the 7% -8% loss-reducing sales rule. Along with the double bottom entry, a handle buy point is also in play at 179.71. On the negative side, the AAPL stock gave up its 50-day support level on Monday, indicating that further weakness is likely.

Software leader Microsoft fell 3.9% on Monday as shares fell further below their 50- and 200-day lines. The stock is almost 20% lower than its 52-week high.

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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