The Dow Jones Industrial Average fell and other major stock indexes were higher on Tuesday, Apple (AAPL) lost a $14 billion lawsuit over an Irish tax law. An early stock market winner today was artificial intelligence company Oracle (ORCL).
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Stocks Rise After Horrible Week; Flutter Entertainment, Axon, General Dynamics in the Spotlight
After the opening bell, the Dow Jones Industrial Average fell less than 0.1%, while the S&P 500 gained 0.3%. The tech-focused Nasdaq Composite also rose 0.3% in early trading.
On Tuesday morning, the 10-year Treasury yield ticked higher to 3.72%. Oil prices fell more than 1% as West Texas Intermediate futures traded around $68 a barrel.
Among exchange-traded funds, the Invesco QQQ Trust (QQQ) rose 0.3%, while the SPDR S&P 500 ETF (SPY) rose 0.2% after the open.
Apple asks for support as Netflix tries to stop buffering and break out
Stock Market Today: Apple Down, Oracle Up
Apple shares fell nearly 2% on Tuesday morning after the company lost a lawsuit over more than $14 billion in Irish taxes. The European Court of Justice, the bloc’s top court, upheld an order for Ireland to reclaim up to 13 billion euros, equivalent to $14.35 billion, plus interest from Apple. The share is shaped like a V-shaped cup with a handle.
Early Tuesday, AI leader Oracle rose 13% after the company reported better-than-expected fiscal Q1 earnings and sales results, with shares breaking out above a flat base’s 146.59 buy point.
Another profit maker from Tuesday is Academy of Sports & Outdoors (ASO), which rose more than 3% in morning trading.
Tuesday night, meme stocks GameStop (GME) is expected to report earnings results. Shares rose 1.2% in early trading.
Nvidia stumbles, Tesla slides as this Mag 7 stock is ripe for a breakout
Dow Jones recovers
On Monday, the Dow Jones Industrial Average rose 1.2%, recovering from Friday’s selloff. The S&P 500 and the tech-heavy Nasdaq composite also rose 1.2% each.
During Monday’s IBD Live broadcast, the IBD Live team discussed current trading conditions and how investors should approach the stock market today.
This is an important time to read The Big Picture column amid the ongoing market action. Also read how to adapt to changing market conditions, with IBD’s new exposure levels.
Nvidia loses ground to Apple and Microsoft. Tesla beats Broadcom.
Stock Market Today: Best Stocks to Watch
Some of the best companies to watch on the stock market today include: Costco Wholesale (COSTS), Meta platforms (META text), Netflix (NFLX), Taiwanese semiconductor production (TSM) and Uber Technologies (UBER).
Notable Dow Jones components include: Amazon.nl (AMZN), Apple, Home Depot (HD image) IBM (IBM) and Microsoft (MSFT), which has had a harder time.
Apple and Uber were mentioned in this column ‘Stocks Near A Buy Zone’.
There was only one new stock on IBD MarketSurge’s “Breaking Out Today” list on Monday, despite the stock market’s recovery. Notably, General dynamics (GD) is attempting to break through the flat base of 302.75 as shares rose 0.3% on Tuesday morning.
Furthermore, there are only a handful of stock ideas on the site’s “Near Pivot” list. To find more stock ideas, check out IBD Stock Lists like IBD 50, Big Cap 20 and Stocks Near A Buy Zone.
Get real-time buy and sell alerts on stock market leaders with IBD Leaderboard
Dow Jones: Home Depot, IBM
Among Dow Jones components, Home Depot added a new handle buy point at 378.58, according to MarketSurge pattern recognition. Shares were fractionally lower Tuesday morning.
Meanwhile, IBM is in a buying range after its last entry, a buy point of 196.26. IBM stock rose slightly on Tuesday.
Outside the Dow Jones Industrial Average, retail giant Costco remains just shy of its 896.67 cup-base entry. Shares fell 0.3% Tuesday morning.
Streaming giant Netflix is ​​below the 697.49 buy point of its late-stage cup base after last week’s losses. Netflix shares rose 0.6% on Tuesday.
And Taiwan Semiconductor Manufacturing builds a cup with a handle with an entry of 175.45, but lost 0.7% on Tuesday morning.
Finally, Uber stock is approaching a double bottom of 75.40. Uber shares were up 0.4% Tuesday morning.
Find the best stocks to buy and watch with IBD Stock Screener and IBD Screen Of The Day
Stock Market Today: Companies to Watch
These are four stocks that are in or near buy territory on the current stock market.
| Company name | Symbol | Right point of purchase | Point of sale type |
|---|---|---|---|
| Ferrari | (RACE) | 442.80 | Flat base |
| Shake hut | (SHAKE) | 111.29 | Cup base |
| ServiceNow | (NOW) | 806.52 | Process input |
| Birkenstock | (BYZER) | 61.83 | Flat base |
Source: IBD data as of August 27
Join IBD experts as they analyze the leading stocks in the stock market today on IBD Live
Magnificent Seven Stocks: Meta, Nvidia, Tesla, Alphabet
Among the Magnificent Seven stocks are Meta Platforms, Alphabet (GOOGL page), Nvidia (NVDA) and Tesla (TSLA) all rose in early trading.
Meta stock is trying to stop its recent decline at the 50-day line. And shares were up 1.3% Tuesday morning.
Google parent Alphabet gave up support around the 200-day line. After falling on Monday, shares rose 0.9% in early trading on Tuesday.
On Monday, Nvidia rebounded from its lowest level since early August. Shares looked to extend that rebound, rising 0.5% in Tuesday’s action.
Tesla rose 2.5% on Tuesday morning, nicely adding to Monday’s gains.
Dow Jones Leaders: Amazon, Microsoft
Among the Dow Jones components in the Magnificent Seven, Amazon and Microsoft rose after the stock market opened on Tuesday.
Amazon shares are back to potential support at their 200-day moving average. The stock rose 1.8% Tuesday morning.
Microsoft shares are below their 200-day line. And on Tuesday morning, the stock was up 1.8%.
Be sure to follow Scott Lehtonen on X @IBD_SLehtonen for more information about growth stocks, the Dow Jones Industrial Average and today’s stock market.
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