Dow Jones futures had been increased early Tuesday after the inventory market rally hit report ranges Monday. Tesla inventory surged to extra all-time highs. And Mosaic, NXP Semiconductor and ZoomInfo had been three earnings movers after the shut.
On Monday, the Dow Jones Industrial Average moved up 0.3%. The S&P 500 rose 0.2%, whereas the Nasdaq led the best way, rising 0.6%.
Among the Dow Jones leaders, Apple (AAPL) declined 0.6%, whereas Microsoft (MSFT) misplaced 0.7% in at present’s inventory market. American Express (AXP), Goldman Sachs (GS) and JPMorgan Chase (JPM) proceed to commerce close to new purchase factors within the present rally.
Tesla (TSLA) surged 8.5% Monday to hit extra report highs.
Microsoft, ServiceNow and Tesla are IBD Leaderboard shares. Albemarle was featured on this week’s Stocks Near A Buy Zone story.
Dow Jones Futures Today
Ahead of the inventory market open Tuesday, Dow Jones futures rose 0.1% vs. honest worth, whereas S&P 500 futures inched increased. Nasdaq 100 futures misplaced 0.2% vs. honest worth. Remember that buying and selling in Dow Jones futures and elsewhere would not essentially translate into precise buying and selling within the subsequent common inventory market session.
U.S. Stock Market Today Overview
Last Update: 4:30 PM ET 11/1/2021
Stock Market ETF Strategy And How To Invest
Stock Market Rally
The inventory market rally strengthened additional Monday, because the Dow Jones Industrial Average, Nasdaq and S&P 500 notched extra all-time highs. The Dow 30 briefly topped the 36,000 stage earlier than closing beneath it.
On Monday, The Big Picture commented, “The Nasdaq holds a quarter-to-date gain of 7.9%. That’s equally respectable. Credit this gain in large part to strength in the chip, business software, automotive, retail and financial sectors of the market. The S&P 500 has advanced 7.1%.”
With the Nasdaq at all-time highs and a restricted quantity of distribution, buyers ought to stay bullish on the constructive pattern out there. So, buyers needs to be on the lookout for new shopping for alternatives to incrementally enhance market publicity. And, like all the time, be disciplined about your purchases. Don’t chase prolonged shares, and you’ll want to reduce losses after promote indicators.
For each day inventory market commentary, you’ll want to take a look at IBD’s The Big Picture.
Five Best Dow Jones Stocks To Watch Now
Dow Jones Stocks To Buy And Watch: Amex, Goldman, JPMorgan
American Express ended Monday about 3% under a 178.90 purchase level in a cup with deal with, in line with IBD MarketSmith chart evaluation. Shares rose 0.25% Monday, snapping a five-day shedding streak.
Goldman Sachs is inside putting distance of a 420.86 purchase level in a flat base following Monday’s 0.8% achieve. The high Dow Jones inventory featured on this week’s Stocks Near A Buy Zone column.
Meanwhile, JPMorgan stays on the high of the 5% purchase zone previous a 163.93 entry in a cup with deal with after a current bounce off the 50-day transferring common. The 5% purchase space tops out at 172.13. JPM inventory was down lower than 0.1% Monday.
Stock Market Earnings: Mosaic, NXP, ZoomInfo
Mosaic missed Q3 earnings and gross sales targets late Monday, sparking a 2% retreat in shares in premarket commerce. Mosaic shares ended Monday about 9% above a 38.33 purchase level in a cup base.
NXP Semiconductor fell 1.5% Tuesday morning after the corporate reported diluted EPS of $1.91 a share on income of $2.86 billion. The inventory is tracing a double-bottom base that shows a 218.24 purchase level. Shares bullishly regained their 50-day line on Monday.
ZoomInfo climbed over 6% in premarket commerce after reporting robust Q3 earnings and gross sales outcomes after the shut. ZoomInfo inventory continues to carry above its key 50-day line within the wake of a failed breakout previous a 67.73 purchase level.
Stocks To Buy And Watch: Albemarle, Alphabet, ServiceNow
Lithium miner Albemarle is on the high of the purchase vary previous a cup with deal with’s 244.46 purchase level following final week’s breakout. The 5% purchase space goes as much as 256.68. Shares rallied 2.2% Monday. Earnings outcomes are due out Wednesday, so this breakout carries extra threat.
IBD SwingTrader inventory Alphabet gave up a brand new purchase level — a 2,925.18 entry in a flat base — in line with IBD MarketSmith chart evaluation — amid Monday’s 3.1% stumble.
The IBD Stock Checkup reveals that Alphabet inventory boasts a 98 out of an ideal 99 IBD Composite Rating. The IBD Composite Rating identifies shares with a mix of robust elementary and technical traits.
IBD Leaderboard inventory ServiceNow is clinging to its 681.20 flat-base entry amid Monday’s 2.3% slide. The software program maker is within the 5% purchase space that runs as much as 715.26.
Per Leaderboard evaluation, ServiceNow’s newest base is a second stage sample, after shares climbed a little bit greater than 20% from the earlier base. Earlier-stage formations — first and second stage — provide extra upside and are much less more likely to fail than later-stage bases.
Tesla inventory slid over 5% premarket Tuesday after CEO Elon Musk tweeted that no contract with Hertz has been signed but. Last week, the EV large’s shares moved above a $1 trillion valuation milestone on information that Tesla had partnered with Hertz, one of many largest automobile rental corporations on this planet, to offer it with 100,000 autos by the top of 2022.
Meanwhile, Tesla is recalling practically 12,000 U.S. autos resulting from a software program communication error that will trigger surprising activation of the emergency braking system, in line with a discover filed with the National Highway Traffic Safety Administration.
Shares raced 8.5% increased Monday, hitting extra all-time highs. The firm introduced it was opening up its supercharging community to different EVs in Europe for the primary time. The pilot venture takes place at 10 supercharger places within the Netherlands.
The inventory traded as excessive as 1,209.75 Monday. TSLA shares are sharply above a 764.55 purchase level in a cup with deal with, in addition to earlier entries at 700.10 and 730. An alternate entry at 900.50 additionally may very well be recognized.
Dow Jones Leaders: Apple, Microsoft
Among the highest Dow Jones shares, Apple inventory is forming a brand new cup base with a 157.36 purchase level, in line with IBD MarketSmith chart evaluation. Shares misplaced 0.6% Monday. The present weak spot may very well be the beginning of a possible deal with, which might provide a decrease entry if the inventory is ready to proceed to bounce from its 50-day line.
Software large Microsoft dropped 0.7% Monday, snapping a four-day win streak. On Oct. 18, Microsoft broke out previous a flat base’s 305.94 purchase level. The 5% purchase zone tops out at 321.24, so the inventory is now prolonged.
Be positive to observe Scott Lehtonen on Twitter at @IBD_SLehtonen for extra on progress shares and the Dow Jones Industrial Average.
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