Dow Jones futures were higher ahead of Tuesday’s open, as the Federal Reserve began its two-day meeting. The Dow Jones Industrial Average had its best month since 1976, rising nearly 14% in October.
late monday, Arista Networks (ANET) and Apple supplier NXP Semiconductors (NXPI) is the revenue generator. ANET stock fell 1% in late trading, while NXPI rose around 1%.
The Fed’s two-day meeting begins on Tuesday, with an interest rate decision set for Wednesday afternoon. Investor sentiment shows an 85% chance of a 75-basis-point hike, according to CME.
The Fed has said it will not move — meaning it slows rate hikes — until the strong labor market shows clear signs of slowing. But as the labor market begins to turn around, the Fed’s strategy and a host of economic factors could change. That puts Friday’s jobs report under further scrutiny.
Stock Market today
On Monday, the Dow Jones Industrial Average fell 0.4% and the S&P 500 lost 0.7%. The tech-heavy Nasdaq composite traded up 1%.
Among funds traded, the Nasdaq 100 tracker Invesco QQQ Trust ( QQQ ) fell 1.2% and the SPDR S&P 500 ( SPY ) fell 0.7%.
A giant EV Tesla ( TSLA ) was down 0.4% on Monday. Among the Dow Jones stocks, apple (AAPL) was down 1.5% and Microsoft (MSFT) lost 1.6% in the stock market today.
Among the top stocks to buy and watch, Dycom (DY), Cheniere Energy share price (LNG), Dollar General (DG) and Pure Storage (PSTG) – as well as the name Dow Jones Chevron (CVX) and UnitedHealth Group (UNH) – is one of the top stocks to buy and watch. Keep in mind that the ongoing rally in the stock market is the best time for investors to find stocks in the area to buy.
Cheniere is an IBD Leaderboard stock. Dollar General is an IBD SwingTrader stock. Pure storage was featured in this week’s Stocks Near A Buy Zone column, along with three other stock reviews.
4 Top Growth Stocks to Buy and View in Current Stock Market Rally
Dow Jones Futures Today: Treasuries, Oil Prices
Ahead of the opening bell on Tuesday, Dow Jones futures were up 0.5% over their fair value, while S&P 500 futures were up 0.8%. Nasdaq 100 futures gained 1.1% vs. Remember that overnight movements in the Dow Jones futures and elsewhere do not necessarily translate into actual trading in the next trading session.
The 10-year Treasury yield edged higher at 4.07% on Monday, recovering some of last week’s losses. At the same time, US oil prices fell 2% as West Texas Intermediate futures traded near $86 a barrel.
money Season: AMD Pay on Deck
Third quarter earnings season continues this week, with key reports from energy giants BP (BP), Eli Lilly (LLY), Uber Technologies (UBER) and Dow Jones stock Pfizer (PFE). The four should report on Tuesday morning. Advanced Micro Devices (AMD) and Airbnb (ABNB) will report after the end of Tuesday.
Earnings reports generate the biggest movements in stocks, and they require special attention. Strong earnings can push the stock above new buy rates and into buy territory, while less impressive announcements can send the stock below key support levels. .
The stock market’s reaction to cash outflows often tells you more than cash flows. If yields look strong but stocks are down, investors may be concerned about the sustainability of growth, inflation or other downsides.
With the market in rally mode, investors should keep an eye on companies that easily beat earnings and have strong sentiment. They can be among the leaders of the stock market if the market can extend their gains.
What to do with the ongoing stock market rally
Now is an important time to read IBD’s The Big Picture column. After the recent gains, investors have the green light to buy the top stocks breaking the right buy points. But not all controls work, so it is important to increase gradually and systematically, because new trends prove themselves.
But not all controls lead to a long-term increase, which is why investors need to measure their level in the days and weeks after this signal, especially with the additional risk of the upcoming Fed meeting. You want to buy in line with the market so you don’t overcommit to an uptrend that could turn against you.
Remember, don’t panic if you miss the first two breakouts. The Nasdaq is still more than 30% off its all-time high. If this stock market rally is real and meaningful, there will be plenty of opportunities to buy stocks and make money in the coming weeks and possibly months.
And if the stock market begins to deteriorate again, you can reduce the exposure without losing too much capital.
five Dow Jones Dailymoti Buy And Watch Now
Dow Jones Stocks to Watch: Merck, UnitedHealth
Member of the Dow Jones and IBD 50 Merck stocks are not in the price range of 93.12 lower two, according to the IBD MarketSmith model approval.
Health-care giant UnitedHealth fired a 553.23-point buy rate, according to IBD MarketSmith. Shares rose 0.75% on Monday, closing above their most recent entry.
Top stocks to watch: Cheniere, Dollar General, Dycom, Pure Storage
IBD Leaderboard Cheniere Energy stocks are just shy of a cup with a buy point of 178.69, according to IBD MarketSmith chart analysis. LNG stocks rose 1.1% on Monday.
IBD Swing Trader stock Dollar General is trying to break the price of 259.75 from the cup base. DG shares lost 2.1% on Monday, ending below the entry. If the stock retraces this key level, the 5% retracement area will rise to 272.74.
Dycom is trying to break away from the price level of 120.55. Shares fell 1.85% on Monday, falling below a buy point and exiting a 5% buy zone that tops out at 126.58.
Friday’s IBD Stock Of The Day, Pure Storage, is nearing a price of 31.62 after a three-day gain. was up 1.15% on Monday.
Join IBD’s experts as they analyze the top stocks in today’s stock market on IBD Live
Tesla stock fell 0.4% on Monday, snapping a four-day winning streak. The stock has rebounded after hitting a new 52-week low last week.
However, the share is at 45% of its 52-week high and below the 50- and 200-day lines.
Dow Jones Leaders: Apple, Microsoft
Among the Dow Jones stocks, Apple shares fell 1.5% on Monday and are about 16% off their 52-week high. Last week, the stock returned to its 50-day line. Now, the division is testing resistance at the 200-day resistance line.
Microsoft fell 1.6% on Monday, giving up a share of Friday’s 4% rebound. The stock is near its 52-week low on October 13. The software giant remains more than 30% off 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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