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Dow Jones Falls On Strong Retail Sales; Target Dives On Earnings; Nvidia Earnings Due

by Ozva Admin

The Dow Jones Industrial Average fell Wednesday morning after stronger-than-expected retail sales data from the Commerce Department. Investors also digested a series of initial retail earnings reports. Target plunged more than 16% on weak earnings results, while Nvidia’s earnings will be released after the close.


Among the top stocks to buy and watch, IBD Classification Table Values Arista Networks (A NETWORK), IBD SwingTrader Values general motors (GM), GlobalFoundries (GFS), Mobileye (MBLY) Y Phillips 66 (psx), as well as the name Dow Jones Caterpillar (CAT), are among the top stocks to buy and watch.

Arista Networks is a IBD Classification Table stock and was Monday’s IBD stock of the day. GlobalFoundries appeared in this week Stocks near a buy zone column. And Mobileye was featured last week IPO leader.

IBD’s latest newsletter, MarketDiem, brings you actionable insights on stocks, options, and cryptocurrencies straight to your inbox.

Dow Jones Today: Oil Prices, Treasury Yields

After the opening bell on Wednesday, the Dow Jones industrial average fell less than 0.1%, while the S&P 500 lost 0.5%. The Nasdaq technology composite fell 1.1% in morning action.

Among exchange traded fundsNasdaq 100 tracker Invesco QQQ Trust (QQQ) was trading down 1.3% early Wednesday, and the SPDR S&P 500 ETF (TO SPY) fell 0.6%.

The 10-year Treasury yield ticked lower to 3.71%, threatening to extend Tuesday’s slide. Meanwhile, US oil prices erased early losses as oil continues to waver back and forth within its recent trading range. West Texas Intermediate futures held just below $87 a barrel.

stock rally

On Tuesday, the major stock indices finished well above their highs. The Nasdaq Composite led the way, rising 1.45%, while the Dow Jones Industrial Index and S&P 500 followed with gains of 0.1% and 0.9%, respectively.

Tuesday’s The Big Picture commented“The stock market rally continued Tuesday as Wall Street received more good news on the inflation front. Even better, several highly rated growth stocks closed with strong gains, though many closed well above highs after reports about the landing of Russian missiles in Poland.”

Now is an important time to read. IBD’s The Big Picture column.

Five Dow Jones Stocks to Buy and Watch Now

Dow Jones Stocks to Buy and Watch: Caterpillar

Dow Jones member Caterpillar is trying to break above 238 of a cup basis point of purchase, according to IBD MarketSmith Pattern Recognition. CAT shares fell 0.7% on Wednesday.

CAT shares boasts an impressive 97 out of a perfect composite score of 99 IBD, according to the IBD Stock Check.

4 Top Growth Stocks to Watch in the Current stock rally

Top Stocks to Buy and Watch: Arista, GM, GlobalFoundries, Mobileye, PSX

IBD Classification Table Arista Networks shares tried to break above a choppy base of 132.97 point of purchase amid Tuesday’s 1.1% rise. The stock again topped the entry before closing just below it. ANET shares were trading 1.4% lower on Wednesday.

automobile manufacturer and IBD SwingTrader General Motors stock is back above the 40.20 buy point of your tumbler with a handle. The buy area reaches a maximum of 42.21. GM shares fell 1.5% on Wednesday.

Chip foundry GlobalFoundries is trading in a buy range above a buy point of 66.06 on a base rate after rising 2.4% on Tuesday. GFS shares lost 3.6% on Wednesday morning.

IPO Leader Mobileye continues to aggressively try to break above the buy point of 29.96 on an IPO basis, according to IBD MarketSmith pattern recognition. The 5% chase zone peaks at 31.46. MBLY shares fell 0.3% early Wednesday.

Monday’s IBD 50 Stock Picks to WatchPhillips 66, is breaking past the 110.08 base of a mug with a handle point of purchase. The stock is in the 5% buy zone, which rises to 115.58. PSX shares were down 0.9% in morning trading.

Join IBD experts as they discuss the top stocks in the current stock market rally on IBD Live

Tesla Stock

tesla shares it advanced 1.8% on Tuesday, continuing to recover from last week’s 52-week low of 177.12. Still, the stock is more than 50% below its 52-week high and well below its 50-day and 200-day moving average lines.

Shares of the electric vehicle giant were down 3% on Wednesday morning.

Dow Jones Leaders: Apple, Microsoft

Among dow jones stockApple shares rose 1.2% on Tuesday, further breaking above its 50-day line after last week’s gains. Shares traded 0.5% lower on Wednesday.

Microsoft rallied on Tuesday, still holding above its recently recovered 50-day line. The software giant remains around 30% below its 52-week high. Microsoft shares rose 0.1% on Wednesday morning.

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


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