Dow Jones Falls Ahead of Economic Data Tesla stock hits another low with price cuts targeted

The Dow Jones Industrial Average fell on Tuesday morning, as global markets struggled after a A sudden shift in monetary policy by the Bank of Japan. The Dow Jones Industrial Average has fallen for four straight days, with Walt Disney and Nike leading the declines. Tesla stock saw its price target lower on several analyst firms on Tuesday.




X



Economic data due for release on Tuesday includes Consumer Confidence and Existing Home Sales. December Consumer Confidence is expected to rise to 101.0 vs. November’s 100.2. Meanwhile, the Econoday consensus number sees existing home sales for November falling further, to an annualized rate of 4.20 million versus October’s 4.43 million. Both readings are due at 10 a.m. ET.

hiko (it’s me) rose 1.5% on Tuesday after the company reported better-than-expected quarterly earnings and sales results. general mills (Geographic information systems) fell 4% despite beating Wall Street’s earnings and sales targets.

More earnings reports include this week micron technology (mo) and Dow Jones stock Nike (NKE).

steel dynamics (STLD) to the S&P 500 and Super microcomputer (SMCI) will join the S&P MidCap 400 Index, which takes effect before the market opens on Thursday, according to the S&P Dow Jones Indices. Steel Dynamics jumped 0.7%, while SMCI jumped 6.7% in morning trading.

electric car giant Tesla (TSLA) fell more than 3% Tuesday morning after several price target cuts from Daiwa, Evercore ISI and Mizuho. Technology pioneers at Dow Jones an Apple (AAPL) And the Microsoft (MSFT) were lower yet stock market today Open.

IBD Leaderboard stock Neurobiological Sciences (nbix), Kosovo Liberation Army (KLAC), O’Reilly Auto Parts (Orly) And the United Rentals (URI) – as well as the names of the Dow Jones Larva (cat), Home Depot (HD) And the United Health Group (United nations) – among the top stocks to consider on investor watchlists.

Neuro and United Rents IBD Leaderboard Stores. United Health were featured last week Arrows near the buy zone column. Caterpillar and United Rentals were recent IBD stock today comp.


IBD’s newest MarketDiem service gives you actionable ideas for stocks, options and cryptocurrencies directly in your inbox.


Dow jones today: oil prices and treasury yields

After the opening bell on Tuesday, the Dow Jones Industrial Average fell 0.2%, and the S&P 500 lost 0.4%. The heavy Nasdaq Composite fell 0.7% in the morning move.

See also  Tesla's smaller two-door Cybertruck was hiding in plain sight

US trade largely resisted the sell-off that hit markets across Asia on Monday, after the Bank of Japan doubled the yield ceiling on its 10-year bonds to 5%. The move sent ripples through the global bond markets and caused a sharp rise in the yen. Nikkei 225 in Tokyo fell 2.6%, while other major markets in Asia closed broadly lower.

European markets recovered from the early hit and turned mixed near the middle of the session. US bonds fell, sending the 10-year yield up nine basis points to 3.66%, marking a third straight rise.

Between us Exchange traded fundsNasdaq 100 Invesco QQQ Trust Tracker (QQQ(down 0.6% and the SPDR S&P 500 ETF)spy) fell 0.3% early on Tuesday.

Meanwhile, US oil prices traded less than 1% higher on Tuesday, but were still on track to extend Monday’s gains. West Texas Intermediate crude futures rose to nearly $76 a barrel in morning trading. Natural gas prices fell more than 5% in early measures, heading for a third straight decline after falling 11% on Monday.

The stock market is under pressure

On Monday, technology and small-cap stocks underperformed again, with the Nasdaq Composite down 1.5% and the Russell 2000 down 1.4%. The Dow Jones Industrial Average held up at best, losing just 0.5%. The S&P 500 lost 0.8%, closing below the 50-day moving average for the second day in a row.

Monday’s Big Picture column He commented, ‚ÄúSanta Claus’s legendary high refers to the period between Christmas and the first two trading days of 2023. The Dow Jones Industrial Average has averaged 1.38% for this period since 1950 while the S&P 500 has averaged 1.32%, according to data collected By Dow Jones Market Data Both indices traded higher about 78% of the time. Still no signs buyers are ready to hold onto the falling knives until the end of the year, but skepticism could be high enough to trigger some short pressure.”

Now is an important time to read IBD’s The Big Picture column Amidst the constant fluctuations in the stock market.


Five Dow Jones stocks to buy and watch now


Dow Jones stocks to watch: Caterpillar, Home Depot, United Health

Dow Jones member Caterpillar continues to trade near 239.95 buy point in a flat base, to me IBD MarketSmith Pattern Recognition, following a slight decline on Monday. Stocks found support at the stock’s 21-day exponential moving average and the stock’s RSI is heading to new highs. CAT stock rose on Tuesday.

See also  Stocks are falling, heading for a third straight losing week

CAT stock Shows 97 strong out of 99 perfect IBD composite classificationfor every IBD stock check.

Home Depot, a home improvement retailer, is about 4% lower than the $329.77 buy point of a mug with a handle after reversing last week’s breakout move. HD shares fell 1.1% Tuesday morning after Credit Suisse downgraded the rating from outperforming to neutral, with a slowing housing market as the main risk.

Healthcare giant UnitedHealth Group is tracking a flat base with 558.20 buy points. The shares are about 6% away from the most recent entry after giving up support near the 50-day line last week. The UN stock is now trying to stop its recent slide around the 200-day line. Shares rose 0.4% early on Tuesday.


4 growth stocks to watch in Cursstock market rally


Top stocks to watch: KLA, Neurocrine, O’Reilly, United Rentals

Chip equipment leader KLA held mostly amid market weakness, about 2% below the 392.60 entry level in the cup with the handle after Monday’s modest loss. KLA shares fell 1% on Tuesday.

IBD Leaderboard Neurocrine stocks are trying to find support at the 50-day level amid a two-week losing streak. A strong rebound may be bullish for the immediate outlook of the stock and is likely to lead to the formation of a new base. Meanwhile, a sharp breakout could mean that the stock needs more consolidation. NBIX stock rose 0.9% on Tuesday.

O’Reilly Auto Parts is trying to find support at the 50 day line this week and the entry above 750.98 is holding steady. A big bounce off the 50-day line may lead to a follow-up entry point, but the uptrend in the market is under pressure at present, which increases the risk of buying stocks. ORLY shares were up 0.1% on Tuesday.

United Rentals remained directly below 368.04 buy points in A mug with handle pattern. The shares are about 5% below the buy point, and further weakness would result in a 7%-8% loss base. URI arrow It rose 0.1% on Tuesday.

Stocks to watch

These are the top five stocks to watch in the stock market today, including three Dow leaders.

The Company’s name Code The right point of purchase base type
Kosovo Liberation Army (KLAC) 392.60 mug with handle
United Rentals (URI) 368.04 mug with handle
Larva (cat) 239.95 Flat base
Home Depot (HD) 329.77 mug with handle
United Health (United nations) 558.20 Flat base
See also  Elon Musk says Trump will return to Twitter after more than 15 million users voted in the poll
Source: IBD data as of December 19, 2022

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


Tesla stock

Tesla shares It fell as much as 2.9% on Monday before cutting losses to just 0.2%. Shares fell more than 3% Tuesday morning, as the stock saw its price target cut at Daiwa, Evercore ISI and Mizuho. TSLA stock hit a 52-week low of 144.17.

Daiwa lowered her target from 240 to 177, in part due to “distraction on Twitter”. Evercore lowered its target from 300 to 200, citing weak demand. And Mizuho lowered its target from 330 to 285, due to the challenging global auto market.

On Monday, TSLA stock hit its lowest level since November 2020. Shares closed about 63% off their 52-week high.

Dow Jones leaders: Apple and Microsoft

in between Dow Jones stockApple shares sold 1.6% Monday, hitting their lowest level since mid-June. AAPL stock ended at a 52-week low, set on June 16, at 129.04. The stock is down about 27% from its 52-week high. Shares fell 1.4% on Tuesday.

Microsoft stock fell 1.7% on Monday, as shares looked to find support around the 50-day line amid a three-day losing streak. The software giant is still about 30% off its 52-week high. MSFT shares fell 0.1% early on Tuesday.

Be sure to follow Scott Lehtonen on Twitter at @tweet Learn more about developing stocks and the Dow Jones Industrial Average.

You may also like:

Top growth stocks to buy and monitor

Learn how to time the market with IBD’s ETF market strategy

Find the best long-term investments with IBD’s long-term leaders

MarketSmith: Research, charts, data and training in one place

How to Find Growth Stocks: Why the IBD Tool Simplifies Your Search for Top Stocks

Leave a Reply

Your email address will not be published.