Dow Jones Futures Rise: What To Do After Today’s Stock Market Plunge; Powell Speech Ahead

Dow Jones futures were higher after Monday’s stock market plunge ahead of Federal Reserve Chairman Jerome Powell’s speech at Jackson Hole on Friday.


Palo Alto Network ,PANW) And zoom video ,ZM) were the major earnings movers after the Monday close. Palo Alto shares jumped more than 7% on better-than-expected results, while Zoom stock jumped more than 7% in extended trading after cutting back on its earnings and sales outlook for the year.

stock market today

The Dow Jones Industrial Average lost 1.9% on Monday, while the S&P 500 lost 2.1%. The tech-heavy Nasdaq Composite sold 2.55%. And the small-cap Russell 2000 dropped 2.1%.

US Stock Market Today Overview

index sign, symbol worth profit loss % Change
Dow Jones ,0djia, 33065.52 -641.22 -1.90
S&P 500 ,0S&P5, 4138.37 -90.11 -2.13
Nasdaq ,0NDQC , 12381.57 -323.65 -2.55
Russell 2000 ,IWM, 190.65 -4.00 -2.05
IBD 50 ,ffty, 28.91 -0.17 -0.58
Last Updated: 4:28PM ET 8/22/2022

Among exchange traded funds, the Nasdaq 100 Tracker Invesco QQQ Trust (QQQ) dropped 2.1%, and the SPDR S&P 500 (Detective) fell 1.7%.

EV Giant Tesla ,TSLA) slipped 2.3% on Monday. Among the leaders of the Dow Jones, Apple ,AAPL) And Microsoft ,msft) Today’s stock market has lost 2.3% and 2.9% respectively.

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In the ongoing stock market volatility, Albemarle ,album, Arista Network ,A trap, Exelis Technologies ,ACL) And costco ,cost) – as well as Dow Jones stocks coco cola ,KO, Merck ,MRK) And McDonald’s ,Delhi Municipal Corporation) – are among the top stocks to buy and watch.

Albemarle is an IBD leaderboard stock. Arista and Exelis were featured in this week’s Stocks Near a Buy Zone column.

Dow Jones Futures Today: Treasury Yields, Oil Prices, Powell Speech

Before Tuesday’s open, Dow Jones futures, along with S&P 500 futures, rose 0.2% each versus fair value, while Nasdaq 100 futures rose 0.4%. Remember that overnight action in Dow Jones Futures and elsewhere does not necessarily entail actual trading in the next regular stock market session.

Extending last week’s jump, the 10-year Treasury yield rose to 3.03% on Monday. The 10-year Treasury yield is above the 3% level for the first time since July 21. Meanwhile, US oil prices edged higher, with West Texas Intermediate futures trading near $91 a barrel.

Fed chief Powell will deliver a speech Friday from Jackson Hole, Va., on the central bank’s economic outlook. The Fed has raised interest rates this year in an effort to tame inflation and has signaled further increases are on the way.

Last week’s Fed minutes appeared to be trailing market expectations for a dovish pivot that helped spark a six-week stock market rally following the June 14-15 meeting. market place a Nearly 56% chance of a 75-basis-point rate increase on 21st September. A week ago, there was a 39% chance.

What to do in the current stock market pullback?

Stock market volatility continued on Monday as major stock indexes sold off sharply, ending the session at lows.

With the market showing more signs of continued weakness, investors should hedge more with current positions. This doesn’t mean you should run out of cash entirely, but make sure your profits don’t evaporate and be quick to leave a losing position.

Nevertheless, the overall trend remains upward, so be on the lookout for stocks that hold best during current stock market weakness. An easy way to identify stock market lead is to use the relative strength line. A strong RS line while the stock market struggles is a strong technical indicator.

Monday’s The Big Picture column commented, “Sellers came back from the weekend with great appetite, sending stock market indices with sharp losses for the second day in a row. After two sessions, investors had reason to make some defensive adjustments.” Is.”

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Five Dow Jones stocks to watch now

Dow Jones Stocks to Watch: Coca-Cola, McDonald’s, Merco

Dow Jones soda giant Coca Cola is manufacturing a flat base with a 67.30 buy point. There is also a handle entry going on at 65.14. Shares fell below their opening entry during Monday’s fall of 1.5%.

McDonald’s shares are trading below a 265.56 cup-with-handle entry after falling 1.35% on Monday.

Merck is forming a flat base, a pattern showing a 95.82 buy point. Shares remain above their 50-day line amid Monday’s 1% decline, according to IBD MarketSmith chart analysis.

MRK Stock Shows a solid 94 out of 99 overall ratings per IBD IBD Stock Checkup. Investors can use the IBD composite rating to easily measure the quality of a stock’s fundamental and technical metrics.

4 Top Growth Stocks To Look ForRstock market rally

Top stocks to watch: Albemarle, Arista, Exelis, Costco

IBD leaderboard stock and lithium maker Albemarle is in a buying range after retaking the handle of a large cup with 273.78 buy points on Monday. The 5% buy zone goes up to 287.47. Over the past weeks, the shares topped a short cup with a 250.25 buy point.

Arista Networks, one of last week’s IBD 50 Stocks to Watch picks, continues to move to the right of the double-bottom base that provides 143.67 buy points. With the stock about 11% off current entry, look for a handle to provide a more risk-optimal buying point. Arista’s RS line is moving higher and reaching a new high. Shares of ANET dropped 2.2% on Monday.

Retail giant Costco surrendered its cup on Monday with Handel’s 552.81 buying points, down 1.6%. Wait for a bullish retake of the entry before buying the stock.

According to IBD MarketSmith chart analysis, chip-equipment maker Excellis Technologies continues to manufacture a cup with a handle that offers 79.93 buy points. The stock fell 4.8 per cent on Monday.

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Tesla Stock

Tesla’s stock fell 2.3% on Friday, extending a losing streak in five sessions. The EV giant’s shares are facing stiff resistance near its 200-day line.

Tesla’s stock is down about 30% from its 52-week high. Its 3-for-1 stock split is scheduled for Wednesday.

Dow Jones Leaders: Apple, Microsoft

Among Dow Jones shares, Apple shares sold 2.3% on Monday, as the stock continues to build the right side of a one-cup base with 179.71 buy points. Another explanation could be a large double bottom that extends to January. Either way, the buying point is the same. The loss of the last three days could be the opening part of a potential handle, which would offer a short entry.

Bullishly, the stock’s relative strength line is at new highs, indicating an outperformance in the larger stock market.

Microsoft fell 2.9% on Friday, extending a losing streak to five sessions and falling further away from its 200-day line.

Be sure to follow Scott Lehton on Twitter @IBD_SLehtonen For more information on growth stocks and the Dow Jones Industrial Average.

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