Election Results, Inflation Data; Tesla hit a new low

Election Results, Inflation Data;  Tesla hit a new low
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Dow Jones futures were higher ahead of Tuesday’s open and US election results. Core inflation data, including the Consumer Price Index, is due later in the week.


Republicans are almost certain will take back the House in Tuesday’s midterm elections. They have an edge in winning the Senate, though it’s less clear-cut. Democrats currently hold a slim majority in the House of Representatives, while Vice President Kamala Harris has a 50-50 tie in the Senate.

On Thursday, the Consumer Price Index is expected to increase by 0.7% compared to October. previous month. Consumer inflation is expected to increase by 8% year-on-year.

Diamondback Energy (MUD), Lyft (LYFT), Mosaic (MOS) and Shockwave Medical (SWAV) were the main earnings reporters late Monday.

FANG shares traded slightly lower in extended trading, while Lyft shares lost more than 16%. Mosaic stocks are higher. Shockwave shares, meanwhile, lost more than 5%.

Stock Exchange Today

The Dow Jones Industrial Average gained 1.3%, or more than 400 points, on Monday, while the S&P 500 gained 1%. The technically heavy Nasdaq composite rose 0.85%.

between exchange traded fundsNasdaq 100 tracker Invesco QQQ Trust (QQQ) rose 1.1% and the SPDR S&P 500 (SPY) increased by 0.9%.

The EV giant Tesla (TSLA) slipped 5% on Monday. between Dow Jones stocks, apple (AAPL) increased by 0.4% and Microsoft (MSFT) increased by 2.9% stock market today.

Among the best stocks to buy and watch, Albemarle (ALB), IBD Leaderboard stock watch list Arista Networks (ANET), CF Industries (CF) and New Castle Energy (NFE) — as well as Dow Jones names Merck (MRK) and UnitedHealth Group (UNH) — are among the best stocks to buy and watch.

Arista Networks is one IBD Leaderboard stock watch list. Albemarle was demonstrated In this week’s Stocks Near Buy Zone column, along with three other top stock ideas.

4 Best Growth Stocks to Buy and Watch on Current Stock Market Rally

Today’s Dow Jones Futures: Treasury yields, oil prices

Dow Jones futures were little changed ahead of Tuesday’s opening bell, compared with S&P 500 futures and Nasdaq 100 futures. fair value. Don’t forget that it’s a one night stand Dow Jones futures and elsewhere does not necessarily become the actual trade on a regular basis Stock market session.

The 10-year Treasury yield rose to 4.21% on Monday, extending its winning streak to four sessions, and closed at its highest level since October. 24. Meanwhile, U.S. oil prices fell nearly 1% as West Texas Intermediate futures traded near $92 a barrel. WTI futures hit their highest level since mid-October last week.

IBD’s latest MarketDiem newsletter delivers actionable ideas for stocks, options and cryptocurrencies straight to your inbox.

Q3 Earnings The season

Third quarter earnings season This week continues, with more key reports to come Disney (DIS), DoubleVerify (DV), DR Horton (DHI), the west (OXY) and Roblox (RBLX).

Earnings reports drive many of the biggest moves in stocks, and they warrant special attention. A strong gain could boost top stocks above new buy points and into buy zones, while a less impressive announcement could cause stocks to fall below key support levels.

The stock market’s reaction to earnings announcements can often tell you more than the earnings themselves. If results look strong but the stock slips anyway, investors may worry about the sustainability of growth, rising costs or other potential downsides.

With the market in rally mode, investors should watch for companies that easily beat earnings results and have strong negative reactions. If the market can bounce back from recent losses, these stocks could be among the new leaders.

What to Do in a Struggle Stock Market Rally

Now is an important time to read IBD’s Big Picture column after the stock trend has changed from a “confirmed uptrend” to an “uptrend under pressure”.

At this point, investors should play defense; Don’t let a profitable trade turn negative. As The Big Picture reiterated last week, it makes sense to keep exposure at or below 20% until the uptrend resumes.

But it’s not time to walk away completely. The uptrend is still intact, so investors can still buy breaks, but should focus on stocks with strong fundamentals and technicals.

(Check IBD Stock Lists whom IBD 50 and Stocks close to the buy zonefor additional fund ideas.)

Five Dow Jones Stocks to Buy and Watch Now

Dow Jones Stocks to Watch: Merck, UnitedHealth

Member of Dow Jones and IBD 50 shares Merck has been out of line in the past double bottom93.12 point of purchase. The 5% buy range extended to 97.78.

Healthcare giant UnitedHealth continues to see a cup handle at 553.23 point of purchase, according to IBD MarketSmithafter last week’s breakout attempt. Shares closed up 1.3% on Monday, about 1% lower than the stock’s last entry.

Best stocks to buy and watch: Albemarle, Arista, CF, New Fortress

Lithium producer Albemarle is forming the right side of a bullish base with a 308.34 buy point. Shares rose 0.5% on Monday, extending their winning streak to three sessions.

IBD Leaderboard watchlist stock Arista Networks is trying to push past 132.97 point of purchase. Shares fell 0.4% on Monday.

CF Industries is struggling to find support around its 50-day moving average amid Monday’s 1% loss. Shares are forming a cup base with a buy point of 119.70, According to IBD MarketSmith model recognition.

New Fortress Energy is rapidly approaching the 63.16 buy point of the cup base. With shares about 6% away from new highs, watch for a spike to suggest an early entry. The energy leader reported results late Monday that brought a 1.5% gain.

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

Tesla shares

Tesla shares It slipped 5% on Monday, hitting a new 52-week low and the lowest level since June 2021.

Shares are more than 50% off their 52-week highs and sharply below their 50- and 200-day moving averages.

Dow Jones Leaders: Apple, Microsoft

between Dow Jones stocksApple shares rose 0.4% on Monday company warning decreased iPhone 14 production in China due to Covid-19 restrictions. Apple shares ended a five-day losing streak, but are still about 24% below their 52-week high.

Microsoft continued to rally from Friday’s 52-week low, rising 2.9% on Monday. The software giant remains about 35% below its 52-week high.

Be sure to follow Scott Lehtonen on Twitter @IBD_SLehtonen For more information on growth stocks and the Dow Jones Industrial Average.


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