Tuesday’s Dow Jones index futures fell 200 points after the stock market plunged Monday. Despite the slight losses on Monday, the market’s upside was strengthening. Among the top seven stocks to buy and watch is energy giant Dow Jones chevron (CVX) and IBD Leaderboard Inventory Quanta Services (PWR).
Arista Networks (Network), CF . Industries (CF), Devon Energy (DVN), Diamondback Energy (FANG) and mosaic (MOS) were the main earnings reports after Monday’s close.
ANET shares jumped 6% in extended trading on the back of strong second-quarter results. CF stock is down more than 1%. Devon’s stock is an inch lower. Diamondback is down less than 1%. Mosaic ratio decreased by 3%.
Meanwhile, Dow Jones Larva (CAT), along with Insight (INCY) and Uber Technologies (UBER), will report before Tuesday’s opening.
stock market today
On Monday, the Dow Jones Industrial Average was down 0.1%, and the S&P 500 Index was down 0.3%. The tech-heavy Nasdaq Composite fell 0.2%, ending a three-day winning streak.
US stock market overview today
|Dow Jones||(0 DJIA)||32799.18||-45.95||-0.14|
|Standard & Poor’s 500||(0S&P5)||4118.62||-11.67||-0.28|
|defect 50||(fifty fifty)||28.49||+0.04||+0.14|
Last update: 4:36 PM ET 8/1/2022
Among the exchange-traded funds, the Nasdaq 100-tracked Invesco QQQ Trust (QQQ) Index is down 0.1%, and the SPDR S&P 500 ETF (SPY) is down 0.3%.
Tesla (TSLA) cut gains to less than 0.1% on Monday. Among the leaders of Dow Jones, apple (AAPL) and Microsoft (MSFT) lost 0.6% and 1% respectively in the stock market today.
In a strong stock market environment, Dow Jones contributed Chevron shares and United Health (United Nations) – well Cheniere Energy (liquefied natural gas) , ExxonMobil (XOM), Quanta Services, Ulta Beauty (ULTA) and Vertex Pharmaceuticals (VRTX) – Among the top stocks to buy and watch.
Quanta, UnitedHealth and Vertex are IBD Leaderboard shares. Chevron and Exxon have appeared in the stock column near the buy zone this week.
Dow Jones futures contracts today: Treasury yields and oil prices
Ahead of Tuesday’s opening, Dow Jones futures lost 0.6% against stocks. Fair value, while S&P 500 futures fell 0.7%. Nasdaq 100 futures fell 0.8% against stocks. fair value. Remember that the overnight action in Dow Jones futures and elsewhere does not necessarily translate into actual trading in the next regular stock market session.
The 10-year Treasury yield fell on Monday to close at 2.6% and fall for the fifth consecutive session. The 10-year yield is at its lowest since early April. Meanwhile, US oil prices are down about 5%, with West Texas Intermediate crude futures trading below $94 a barrel.
What to do in the current stock market
Last week, the International Investment Bank raised its market outlook from “upside pressure” to “confirmed uptrend” due to improved stock market conditions.
Investors have the green light to enhance their exposure to stocks, with an eye on those breaking past valid buying points. Gradual commitment to capital in blue-chip stocks. However, it is not time to be overly aggressive.
Use each purchase as a response to the current strength of the market rally. Don’t panic if you miss your first escape. If the stock market uptrend is real, there will be plenty of time to buy stocks and make money. This is an important strategy because previous follow-ups failed this year and advances were cut short.
The big picture column commented Friday, “In a potentially dangerous week dominated by big tech earnings and the latest Federal Reserve meeting, indices still manage to rally. Wall Street appears increasingly inclined to believe the economy is turning a corner.”
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.
Investors can also create watch lists, find companies close to a point of purchase, or develop custom displays at IBD MarketSmith.
Five Dow Jones stocks to watch right now
Dow Jones stocks to watch: Chevron, UnitedHealth
Dow Jones energy giant Chevron is building the right-hand side of a Fenjan base with 182.50 POIs. Be on the lookout for a potential handle to offer a lower entry. Shares rose last week after the company’s strong earnings results. Chevron stock fell 2% on Monday.
Health insurance giant UnitedHealth and IBD Leaderboard stock are in a buying range above its double-handle base buy point at 518.80 after Monday’s 1.3% loss, according to IBD MarketSmith chart analysis.
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 on Cursstock market rise
Top Stocks to Watch: Cheniere, Exxon, Quanta, Ulta, Vertex
Cheniere Energy is in buy territory after crossing the trend line entrance around 140. The stock is now trying to break through the double bottom buy point 146.45. The relative strength line reached new highs, which is a positive sign. Shares were trading down 1.7% on Monday.
Today Friday IBD Stock Of The Day Exxon Mobil regained the 50-day streak and topped the strong early entry around 93.24, with shares up 4.6% on Friday. But the energy giant gave up some ground on Monday, dropping 2.5%. Meanwhile, the cup base entry at 105.67 is also in play.
Quanta Services for IBD Leaderboard stock returned to a buying point of 138.56 from a cup base with a handle after Monday’s slight loss, according to IBD MarketSmith chart analysis. Quanta earnings due on Thursday.
Ulta Beauty is building a flat base at 429.58 buying pips but is finding it difficult to decisively break the 50-day streak amid Monday’s 1.4% gain. The base comes on the heels of the failed breakout of Teacup with 426.93 entering the handle in June.
Vertex Pharmaceuticals ditched its cup with 279.23 handle buying points and dropped below the 50-day line after Monday’s 2.35% drop. The company will announce its earnings on Thursday.
Join IBD experts as they analyze the leading stocks in the current stock market rally on IBD Live
Tesla stock pared its gains to less than 0.1% on Monday but continued to extend its winning streak to four sessions. Stocks reached their highest level since early May and are finding resistance around the 200-day line, a key level to watch.
The stock is about 28% from its 52-week high.
Dow Jones Leaders: Apple and Microsoft
Among Dow Jones stocks, Apple shares fell 0.6% on Monday, ending a three-day winning streak. Last week, the stock retraced the 200-day streak for the first time since May 5th.
Microsoft stock fell 1% on Monday, but remained above the 50-day line. However, the software giant is still ticking below the 200-day long-term line. The stock has closed about 20% from its 52-week high.
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