Later on Monday, after the stock market sold off, Dow Jones futures briefly fell 150 points. Tech giants Apple, Microsoft, Nvidia, PayPal and Square all fell, while Tesla shares rose on Monday due to strong deliveries.
X
On Monday, the Dow Jones Industrial Average fell 0.9%. The Standard & Poor’s 500 Index fell 1.3%, while the Nasdaq Index fell 2.1% after reducing some 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 nearly 1% due to strong deliveries, further above the stock’s last buy point.Tech giants Nvidia (NVDA), Paypal (PYPL) and square (SQ) They are all sold out.
Among the main actions to be considered, Netflix (NFLX) and Serve immediately (NOW) performed relatively well during Monday’s weak stock market.
Microsoft, ServiceNow and Tesla are the IBD stock rankings. American Express is an IBD stock swing trader. Netflix appeared in the buy zone near the stock bar this week.
Dow Jones Futures Today
After the stock market closed on Monday, the fair value of the Dow Jones futures fell less than 0.1%, while the S&P 500 index futures rose slightly. The relative fair value of Nasdaq 100 futures rose 0.3%. Please keep in mind that trading in Dow Jones futures and elsewhere does not necessarily translate into actual trading in the next stock market trading session.
U.S. stock market overview |
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|---|---|---|---|---|
| index | Symbol | Price | Gains and losses | % Change |
| Dow Jones | (0DJIA) | 34,003.58 | -322,88 | -0,94 |
| Standard & Poor’s 500 Index | (0S and P5) | 4,300.48 | -56,56 | -1,30 |
| Nasdaq | (0NDQC) | 14,255.49 | -311,21 | -2,14 |
| Russell 2000 | (and many more.) | 220,27 | -2,01 | -0,90 |
| Inflammatory bowel disease 50 | (FFTY) | 45,85 | -1,27 | -2,70 |
Last updated: 10/4/2021 4:34 PM EST |
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Among exchange-traded funds, Innovador IBD 50 (FFTY) fell 2.8% on Monday. The Nasdaq 100 tracking index Invesco QQQ Trust (QQQ) fell 2.1%. SPDR S&P 500 ETF (ESPIAR) fell 1.3%.
Stock market adjustment
As the current stock market correction intensified, the Nasdaq and S&P 500 indexes 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% gain, but it was still higher than the recent low.
Friday’s overall comment said: “As the stock market is in a correction, avoid the temptation to buy stocks in a falling market. There will always be stocks that show strength, but a weak market will eventually cause them all to fall. If the market conditions are in institutions If you continue to improve under the new signs of purchase, new configurations should appear. The strength may be confirmed next week.”
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Dow Jones stocks to watch: American Express, Merck
The leaders of Dow Jones, American Express and Merck are first-class stocks that deserve attention in today’s stock market trends.
According to IBD MarketSmith chart analysis, SwingTrader IBD American Express is approaching the buying point of the $179.77 cup with a handle. But on Monday, the stock price reversed from the initial gain to a 0.7% drop and fell 4% from the new entry.
Merck continued Friday’s gains, rising 2.1% on Monday. On Friday, Merck said that its Covid Pill cut the risk of hospitalization by half in a final study. Merck’s share price was flat and broke through the purchase point of 79.33.
Stocks on the move: Nvidia, PayPal, Square
Technology giants Nvidia, PayPal and Square sold off in a big way this week.
Nvidia shares fell 4.85% on Monday. On September 20, the stock triggered a sell signal back and forth from the buy point 207.43 on the handle mug. When a stock gives up all double-digit profits, investors must sell to avoid losses. Now, the stock is about 5% lower than the previous purchase 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 fell 5.45%, decisively breaking the 200-day moving average. The highest-earning stocks are about 22% below their historic high on August 5.
Follow-up actions: Netflix, ServiceNow
Despite a 1.6% bearish reversal on Monday, FANG stock leader Netflix is still in a new buying range. Due to the recent global success of its “Squid Game” series, the stock is in the 5% buying range, entering the consolidation point of 593.39.
According to IBD stock reviews, NFLX Stocks showed a strong 97 in the perfect 99 IBD comprehensive ranking. The IBD comprehensive rating identifies stocks with strong fundamentals and technical characteristics.
Despite the overall market weakness, ServiceNow, the IBD stock ranking list, is trying to find support near its critical 50-day moving average. But the stock market fell more than 2% on Monday and closed below that key benchmark.
It is bullish, and the relative strength and weakness line of the stock hit a recent high in late September, indicating that the stock has performed well under the current volatility of the stock market. But now the stock is under pressure again. During periods of market weakness, look for stocks that perform better. When the market recovers, these names may be the next top action 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 ended its two consecutive days of decline on Monday and closed above the buy point of 764.55 on the handle cup.
TSLA stock price closed at around 13% of its all-time high. On January 25th, Tesla’s share price hit a record high of 900.40 points. Previously, it rose by 93% from the 466 points in the handle cup form.
Dow Jones leaders: Apple, Microsoft
Among Dow Jones stocks in early trading, Apple fell 2.5% on Monday and gave 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 being formed, with a purchase point of 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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