The Dow Jones Industrial Average fell Tuesday, while the other major stock indexes traded higher, as third-quarter earnings season kicked into gear. Two early earnings movers on the stock market today were Dow components Goldman Sachs (GS) and UnitedHealth (UNH).
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Ahead of the opening bell, Dow Jones futures fell 0.3% vs. fair value, as S&P 500 futures rose 0.1%. Tech-heavy Nasdaq 100 futures moved up 0.2% in early trading.
Early Tuesday, the 10-year Treasury yield ticked up to 4.08%. Oil prices dropped, with West Texas Intermediate futures trading around $70.60 per barrel.
Among exchange traded funds, the Invesco QQQ Trust (QQQ) was up 0.2%, as the SPDR S&P 500 ETF (SPY) gained 0.1% ahead of the open.
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Goldman Sachs jumped nearly 3% Tuesday premarket after beating earnings and sales estimates. Shares closed Monday above a 517.26 flat-base entry.
On the downside, UnitedHealth stock tumbled nearly 4% despite topping third-quarter earnings and sales targets.
Other key earnings movers Tuesday morning include Bank of America (BAC), Citigroup (C), Charles Schwab (SCHW) and Johnson & Johnson (JNJ).
Bank of America shares rallied 1.8%, further above a 41.05 buy point, while Citigroup tacked on 2%. Charles Schwab shares jumped nearly 9%, while J&J stock fell 1.1% in early action.
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On Monday, the Dow Jones Industrial Average climbed 0.5%, while the S&P 500 gained 0.8%. Both hit new highs. And the tech-heavy Nasdaq composite advanced 0.9%.
During Monday’s IBD Live show, the IBD Live team discussed the current trading conditions and how investors should handle the stock market rally.
Among the best companies to watch on the stock market today are Ryan Specialty (RYAN), Texas Roadhouse (TXRH), Toast (TOST) and Uber Technologies (UBER).
Notable Dow Jones components are Amazon.com (AMZN), Apple (AAPL), JPMorgan Chase (JPM) and Microsoft (MSFT).
Uber and JPMorgan featured in this Stocks Near A Buy Zone column.
There were four new stocks on IBD MarketSurge‘s “Breaking Out Today” list Monday. Notably, Eaton (ETN) topped a 345.19 entry. Check for more names on the site’s “Near Pivot” list. To find additional stock ideas, check IBD Stock Lists like IBD 50, Big Cap 20 and Stocks Near A Buy Zone.
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Dow Jones: JPMorgan Nears Buy Point
Dow Jones financial leader JPMorgan is approaching a flat base that has a 225.48 buy point, according to MarketSurge pattern recognition. Shares rose 0.5% early Tuesday.
Outside the Dow Jones index, insurance leader Ryan Specialty is at the top of a buy range above a 69.03 flat-base entry following a recent breakout move. Shares added 1% Tuesday.
Texas Roadhouse continues to hover at a 177.72 flat-base entry amid a recent rebound. Shares were slightly lower Tuesday.
Restaurant software provider Toast is in a buy zone above its 27.88 buy point despite three straight days of losses. The stock inched lower early Tuesday.
Finally, Uber Technologies remains in buy range past a 82.14 buy point in a consolidation. Uber stock was unchanged Tuesday morning.
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Stock Market Today: Companies To Watch
These are four stocks in or near buy zones in today’s stock market.
| Company Name | Symbol | Correct Buy Point | Type Of Buy Point |
|---|---|---|---|
| Ferrari | (RACE) | 498.23 | Flat base |
| Taiwan Semiconductor | (TSM) | 175.45 | Cup with handle |
| ServiceNow | (NOW) | 850.33 | Flat base |
| Uber Technologies | (UBER) | 82.14 | Consolidation |
Source: IBD Data as of Oct. 14
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Magnificent Seven Stocks: Alphabet, Meta, Nvidia, Tesla
Among Magnificent Seven stocks, Alphabet (GOOGL) rose 0.8%, while Meta Platforms (META) climbed 0.3% Tuesday.
Google-parent Alphabet is finding support around the 50-day moving average following a rebound in recent sessions. The stock has yet to offer a new buy point.
Meta stock hit a new high last week, further above a 544.23 alternate entry.
Nvidia shares dropped 0.8% Tuesday morning, still above a 131.26 buy point from an irregular handle. Shares are also approaching their all-time intraday high of 140.76, which was set on June 20.
Tesla shares looked to add to Monday’s rebound, as they rose a fraction. Last week, Tesla stock dived below its 50-day line, but is still trading in the handle portion of a cup base that has a 264.86 buy point.
Dow Jones Leaders: Amazon, Apple, Microsoft
Among Dow Jones components in the Magnificent Seven, Amazon shares are bouncing from their 50-day line, near a 195.37 buy point in a cup with handle. The stock climbed 0.4% Tuesday.
Apple is close to a V-shaped cup with handle that shows a 233.09 entry. Shares rose 1.3% Tuesday morning, on pace to break out.
Microsoft shares are trying to regain their 50-day line and are near a handle buy point at 441.85. And on Tuesday morning, the stock inched up 0.4%.
Be sure to follow Scott Lehtonen on X at @IBD_SLehtonen for more on growth stocks, the Dow Jones Industrial Average and the stock market today.
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