Dow Jones futures, S&P 500 index futures and Nasdaq 100 index futures remained almost unchanged after the stock market crash late on Monday. Tech giants Apple, Microsoft, Nvidia, PayPal and Square fell sharply, while Tesla shares rose due to strong deliveries on Monday.
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On Monday, the Dow Jones Industrial Average fell 0.9%. The Standard & Poor’s 500 Index fell 1.3%, while the Nasdaq Index still fell 2.1% after recovering some of its losses.
Among the leaders of Dow Jones, Apple (AAPL) fell 2.5%, while Microsoft (MSFT) fell 2.1% in today’s stock market. American Express (AXP) and Merck (MRK) has performed well in the current stock market correction.
Tesla (TSLA) rose by nearly 1% supported by strong deliveries, further above the stock’s latest purchase point.Tech giants Nvidia (NVDA), Paypal (PYPL) and square (SQ) All were sold substantially.
Among the most noteworthy stocks, Netflix (NFLX) and Serve immediately (NOW) performed relatively well during Monday’s weak stock market.
Microsoft, ServiceNow and Tesla are IBD ranking stocks. American Express is IBD SwingTrader stock. Netflix appeared in this week’s “Stocks Near the Buy Zone” column.
Dow Jones Futures Today
After the stock market closed on Monday, the fair value of Dow Jones futures, S&P 500 index futures and Nasdaq 100 index futures remained almost unchanged. Please keep in mind that trading in Dow Jones futures and elsewhere does not necessarily translate into actual trading in the next regular stock market trading session.
U.S. stock market overview today |
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|---|---|---|---|---|
| index | Symbol | Price | Gain/loss | % Change |
| Dow Jones | (0DJIA) | 34,003.58 | -322.88 | -0.94 |
| Standard & Poor’s 500 Index | (0S&P5) | 4,300.48 | -56.56 | -1.30 |
| Nasdaq | (0NDQC) | 14,255.49 | -311.21 | -2.14 |
| Russell 2000 | (IWM) | 220.27 | -2.01 | -0.90 |
| Inflammatory bowel disease 50 | (FFTY) | 45.85 | -1.27 | -2.70 |
Last Update: 10/4/2021 4:34 PM EST |
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Among exchange-traded funds, the innovator IBD 50 (FFTY) fell 2.8% on Monday. The Nasdaq 100 tracking index Invesco QQQ Trust (QQQ) fell 2.1%. The SPDR S&P 500 ETF (SPY) fell 1.3%.
Stock market adjustment
Due to the deterioration of the current stock market correction, the Nasdaq index and the S&P 500 index fell to recent lows on Monday. The Nasdaq Index closed at its lowest level since June 22 and may test its long-term 200-day moving average. At the same time, the Dow Jones Industrial Average gave up almost all of Friday’s 1.4% gains, but remained above recent lows.
Friday’s The Big Picture commented: “As the stock market is in a correction, avoid the temptation to buy stocks in a downtrend. There will always be stocks showing strength, but a weak market may eventually cause everything to fall. If market conditions are in If the new signs of institutional purchases continue to improve, new settings should appear. Confirmation of strength may come as early as next week.”
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Dow Jones stocks to watch: American Express, Merck
Dow Jones leaders, American Express and Merck, are blue-chip stocks that deserve attention in today’s stock market trends.
According to IBD MarketSmith chart analysis, the buying point of IBD SwingTrader stock American Express is close to 179.77 points. But the stock price reversed from its early gains on Monday, falling 0.7%, about 4% from the new entry point.
Merck continued Friday’s gains, rising 2.1% on Monday. On Friday, Merck said that its Covid pills cut the risk of hospitalization by half in the final phase of the study. Merck shares broke through the 79.33 buying point on a stable basis.
Stocks on the move: Nvidia, PayPal, Square
Technology giants Nvidia, PayPal and Square sold sharply on Monday.
Nvidia shares fell 4.85% on Monday. On September 20, the stock triggered a round-trip sell signal from the 207.43 purchase point of the cup with a handle. When a stock completely gives up double-digit gains, investors should sell to avoid losses. Now, the stock is about 5% lower than the old buy point.
PayPal fell 3.6%, further falling below its long-term 200-day line. The stock price is down nearly 20% from its 52-week high.
Square plunged 5.45% and decisively fell below the 200-day moving average. The top payment stocks are about 22% lower than their all-time high on August 5.
Stocks to watch: Netflix, ServiceNow
Despite a 1.6% bearish reversal on Monday, FANG stock leader Netflix continues to remain in the new buying zone. Due to the recent global success of its series “Squid Game”, the stock price is in the 5% buying range, exceeding the entry point of 593.39.
According to the IBD stock check, NFLX stock shows a strong 97 in the perfect 99 IBD comprehensive rating. The IBD comprehensive rating identifies stocks with strong fundamental and technical characteristics.
Despite the overall market weakness, the IBD ranking stock ServiceNow is trying to find support near its critical 50-day moving average. But the stock price fell more than 2% on Monday and closed below that key benchmark.
Optimistically, the relative strength and weakness line of the stock hit a recent high at the end of September, indicating that the stock has performed well under the current volatility of the stock market. But now the stock is under pressure again. In a weak market, look for the best performing stocks. When the market rebounds, these names may be the next top stocks to watch.
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Tesla stock
Tesla shares rose 0.8% on Monday after the company announced a record third-quarter deliveries on Saturday. The electric car giant reported that the total number of car deliveries in the third quarter was 241,300, up from 201,250 in the second quarter and 184,800 in the first quarter. FactSet analysts’ estimates are between 218,000 and 246,000, with a consensus of 232,000.
The stock price ended its two consecutive days of decline on Monday and closed further above the 764.55 buying point of the handle cup.
TSLA’s stock price closed about 13% from its historical high. On January 25th, Tesla’s share price hit a record high of 900.40 points. Prior to this, the stock rose 93% from the 466 point cup handle mode buying point.
Dow Jones leaders: Apple, Microsoft
Among the top Dow Jones stocks, Apple fell 2.5% on Monday, giving up all of Friday’s 0.8% gain. The stock is still below the 50-day line.
Software giant Microsoft fell 2.1% on Monday as the stock continued to trade below the 50-day line. A new flat bottom is forming, and the buy point is 305.94.
Be sure to follow Scott Lehtonen on Twitter @IBD_SLehtonen More information about growth stocks and the Dow Jones Industrial Average.
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