Dow Jones declines as inflation report approaches; Covid Vaccine Maker Hangs on Profits

The Dow Jones Industrial Average fell on Tuesday ahead of Wednesday’s key inflation report – the Labor Department’s Consumer Price Index. vaccine maker Novavax (NVAX) crashed 31% after cutting revenue guidance for 2022 due to lack of demand for a Covid-19 vaccine.


American International (AIG), PERIGO (PRGO), Planet Fitness (PLNT) and Ralph Lauren (RL), Shock Wave Medical (SWAV) and Interactive Take-Two (TTWO) were the major companies that reported earnings on Tuesday.

AIG gained 0.9% as Perrigo gained more than 2%. Planet Fitness lost nearly 2%, while Ralph Lauren gained about 1%. Shockwave jumped 8% in early trade. And video game maker Take-Two slices about 5%.

Chip stocks fell sharply again on Tuesday after a revenue warning on Monday from nvidia (NVDA). Nvidia shares fell another 2.6%. Advanced Micro Devices (AMD) is down 2.4%. The VanEck Semiconductor ETF (SMH) was down 2.4% early Tuesday.

Tesla TSLA stock was trading down nearly 2% early Tuesday. Elsewhere, technology leaders at Dow Jones apple (AAPL) and Microsoft (MSFT) is down 0.4% and 0.3%, respectively, after the stock market opened today.

nike (NKE) posted the biggest drop on the Dow, down 2.6% after downgrading BNP Paribas’ rating and target price, due to increased uncertainty in the company’s guidance.

In the enhanced stock market environment, Dow Jones shares coca cola (KO) and United Health (United Nations) – well monolithic power systems (MPWR), Initial deal executor (OLLI) and Vertex Pharmaceuticals (VRTX) – Among the top stocks to buy and watch.

UnitedHealth and Vertex are IBD Leaderboard shares. Ollie’s and Vertex in this week’s column featured stocks near the buying zone. Monolithic Power was IBD’s stock today Thursday. Vertex is also the idea of ​​IBD SwingTrader.

Dow Jones today: Treasury yields, oil prices, CPI

The Dow Jones Industrial Average was down 0.2% in morning trading. The S&P 500 was down 0.4%, and the Nasdaq Technology Composite was down 1.1%.

Among the exchange-traded funds, the Nasdaq 100 tracker Invesco QQQ Trust (QQQ) is down 1.1%. The SPDR S&P 500 ETF (SPY) was down 0.4%.

The 10-year Treasury yield rose to 2.80% on Tuesday morning, and rose after Monday’s dip to 2.76%. The 10-year Treasury yield is recovering after hitting its lowest level since early April last week.

Meanwhile, US oil prices appeared to be recovering from recent losses, as West Texas Intermediate crude futures rose about 1% on Tuesday, to trade above $91 a barrel. Last week, West Texas Intermediate crude fell below $88 a barrel for the first time since mid-February.

The Labor Department’s Consumer Price Index will be released early Wednesday. Econoday estimates that consumer prices rose 0.2% in July, down from June’s 1.3% jump. Inflation is expected to rise 8.7% in July from a year ago, reversing the 9.1% year-on-year rise it recorded in June.

stock market rise

On Monday, the Nasdaq wiped out a 1.6% increase and closed 0.1% lower. The S&P 500, up as much as 1%, also lost 0.1%. The Dow Jones Industrial Average narrowly missed a 0.1% gain.

Monday’s The Big Picture column commented, “The stock market faded and closed near session lows. The bearish reversal was a sign of a rapid change in character from Friday: The surprisingly strong jobs report for July boosted prospects for a 75-point rate hike. basis in September. With that, the market regained its composure and closed near session highs.”

If you are new to IBD, consider taking a look at the CAN SLIM Stock Trading System and Basics. Recognizing chart patterns is one of the keys to investing guidance. IBD offers a wide range of developing stock listings, such as Leaderboard and SwingTrader.

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Five Dow Jones stocks to watch right now

Dow Jones stocks to watch: Coca-Cola, UnitedHealth

Dow Jones soda giant Coca-Cola builds the right-hand side of a flat base that holds 67.30 POIs. Stocks are testing the 50-day line after last week’s losses. KO’s stock rose 0.2% on Tuesday.

Health insurance giant UnitedHealth and IBD Leaderboard stock remain in a buying range above its double-handle base buy point at 518.80 amid Monday’s 0.3% gain, according to IBD MarketSmith chart analysis. Shares rose 0.65% on Tuesday.

UN stock shows 94 solids of Class 99 IBD compounds, per IBD stock check. Investors can use the IBD composite rating to easily gauge the quality of a stock’s fundamental and technical metrics.

4 growth stocks to watch at Cursstock market rise

Top stocks to watch: Monolithic, Ollie’s, Vertex

Thursday, IBD Stock Of The Day Monolithic Power Systems continues to build the right side of the consolidation with 580.10 buying points. Meanwhile, shares are up about 3% above the early entry level of 514.80. Keep an eye out for a potential handle to offer another alternative purchase point. Shares fell 3.1% on Tuesday.

The bargain executor of Ollie’s Bargain Outlet is recovering from its 10-week streak – a critical support level – putting the top discount retailer into new buying territory. The stocks are also carving a handle after a large cup base, making the last point of purchase at 72.37. The current price action is about 10% away from this entry. Shares rose early Tuesday.

IBD SwingTrader stock at Vertex Pharmaceuticals is up 2.1% on Monday, moving outside the buying range past the cup with the handle entering at 279.23. Stalking area 5% up 293.19. The stock’s June 23 breakout is back on track after last week’s second-quarter earnings results. Vertex stock is up 0.5% Tuesday morning.

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

Tesla Stock

Tesla stock pared its gains to 0.8% on Monday, reclaiming a small portion of Friday’s 6.6% slide. Shares lost 1.9% on Tuesday morning.

Last week, Tesla shares reached their highest level since early May, but are now finding resistance around the 200-day line, a key level to watch. On Friday, the company announced that a 3-for-1 stock split would take place on August 3. 24. The stock is down about 30% from its 52-week high.

Dow Jones Leaders: Apple and Microsoft

Among Dow Jones stocks, Apple shares fell 0.3% on Monday, extending its losing streak into three sessions. The arrow builds the right side of a new base. Shares were down 0.4% on Tuesday morning.

Microsoft stock fell 0.9 percent on Monday, falling for the second day in a row. The software giant is still in the lower 200-day long-term range. The stock closed on Monday about 20% from its 52-week high, and was down 0.3% early Tuesday.

Make sure to follow Scott Lehtonen on Twitter at Tweet embed Learn more about developing stocks and the Dow Jones Industrial Average.

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