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Stock market today: Dow Jones is ahead of important figures; Tesla anticipates deliveries in the first quarter

Dow Jones futures fell more than 275 points on Tuesday as Wall Street awaited key economic data from the US government. In the meantime, Tesla (TSLA) shares fell on the stock market today, ahead of the company’s first quarter deliveries.


Dow Jones futures fell 0.7% from fair value in morning action, while S&P 500 futures fell 0.6%. Tech-focused Nasdaq 100 futures lost 0.8% to fair value ahead of the opening bell.

The interest rate on ten-year government bonds rose to 4.35%. Further, oil prices added to Monday’s gains as West Texas Intermediate futures traded above $85 a barrel for the first time since October.

Among U.S. exchange-traded funds, the Nasdaq 100 tracker Invesco QQQ Trust ETF (QQQ) fell 0.8%, while the SPDR S&P 500 ETF (SPY) fell 0.6%.

Early Tuesday, Wall Street expects the electric car giant to report first-quarter deliveries of 457,000 units, according to FactSet. This number started at 471,000 last week and has been steadily declining before Tesla announced global delivery numbers. The consensus figure of 457,000 likely includes several analyst forecasts that haven’t been updated in weeks or months.

Tesla shares fell 1.4% premarket on Tuesday, threatening to extend its losing streak to three sessions.

Fair today

United Health (UNH) and Human (HUM) plummeted 4.7% and 10.8%, respectively, after the Biden administration announced that the final Medicare Advantage rates will not change in 2025 from the original plans in January.

Just after Tuesday’s stock market opens, the Labor Department’s JOLTS report is expected at 10 a.m. ET. The Job Openings and Labor Turnover Survey is expected to measure 8.8 million open positions in February, up from 8.863 million in January, according to Econoday estimates.

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Further, the Commerce Department’s factory orders are expected to rise 1% in February, up from January’s 3.6% decline. That data is also available at 10 a.m

The major earnings reports include clothing brands PVH (PVH) and Paychex (PAYX).

PVH shares fell more than 21% in premarket action, while Paychex shares were down 1.5% ahead of the company’s results.

Be sure to learn how to adapt to changing market conditions, with IBD’s new exposure levels.

Dow Jones falls

On Monday, the Dow Jones Industrial Average fell 0.6% and the S&P 500 fell 0.2%. The technology indicator Nasdaq rose 0.1%.

Monday’s Big Picture column noted: “The Nasdaq and the S&P 500, in turn, are near the top of the price channels. In recent months, both stock indexes have softened as they move toward the upper reaches of those channels climbed. Currently, both are holding above the 21-day exponential moving averages. The line has proven to be a reliable support level for both since the confirmed uptrend began in early November.”

This is an important time to read IBD’s The Big Picture column, amid the ongoing stock market rally. Be sure to learn how to adapt to changing market conditions, with IBD’s new exposure levels.

Learn how to time the stock market with IBD’s ETF market strategy

Best stocks to watch in the stock market today

Alphabet (GOOGL), Arista Networks (A NET), DesignKings (DKNG) and Service now (NOW) – plus Dow Jones components Disney (DIS), IBM (IBM) and Verizon Communications (VZ) – are among the best companies to watch in the stock market today.

ServiceNow displays in this column Stocks near a buy zone.

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An essential resource for everyday breakouts is IBD MarketSurge’s “Breaking Out Today” list. It shows MarketSurge Growth 250 stocks breaking past new buy points, like Google stock. Meanwhile, the MarketSurge “Near Pivot” list shows stocks that are near buy points in fundamentals.

For more stock ideas, check out IBD stock lists such as IBD 50, Big Cap 20, and Stocks Near a Buy Zone. These features identify bullish patterns and buy points and can be checked every day.

Get real-time buy and sell alerts on stock market leaders with IBD Leaderboard

Dow Jones: Disney, IBM, Verizon

Disney — the strongest performer on the Dow Jones in the first quarter — has grown past the 112.92 buy point of a large handle base cup, according to IBD MarketSurge chart analysis. And shares closed out of buy range despite falling 0.7%. The company will face a critical vote from shareholders during its annual meeting on Wednesday. Shares were down 0.7% on Tuesday morning.

IBM shares remain below the 196.90 buy point on a flat basis, down 0.6% Monday. Stocks are trying to find support around their 50-day line. IBM shares lost 0.2% on Tuesday.

Telecom giant Verizon is building a cup base with a score of 43.21 as the stock rebounds bullishly from its 50-day line. Shares of Verizon moved higher Tuesday morning.

4 top growth stocks to watch Stock market rally

Stock market today: Google nears breakout

Google parent Alphabet is breaking out in a consolidation past a 153.78 buy point as the stock rose 3% on Monday. Google shares fell 0.9% on Tuesday.

According to the MarketSurge charts, Arista shares regained a flat-base buy point of 292.66, rising 3.4% Monday. And on Tuesday, the stock fell 0.2% during morning action.

Last week, DraftKings plummeted below the 46.52 buy point during a brief consolidation. And the sports betting giant fell even further below that figure on Monday, down 1%. DraftKings stock fell 0.5% Tuesday morning.

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Finally, ServiceNow is looking to recapture its 50-day line during a two-day rally. The shares are building a flat base with an entry of 815.32. The stock fell 0.7% on Tuesday.

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Stocks to watch

These are four stocks in or near buy zones in today’s stock market.

Company Name Symbol Correct purchase point Purchase point type
Disney (DIS) 112.92 Cup with handle
Arista Networks (A NET) 292.66 Flat base
DesignKings (DKNG) 45.62 Consolidation
Service now (NOW) 815.32 Flat base
Source: IBD data as of April 1, 2024

Join IBD experts as they analyze leading stocks in today’s stock market rally on IBD Live

Beautiful seven stocks: Nvidia

Among the Magnificent Seven shares, Nvidia (NVDA) shares fell 0.9% premarket Tuesday, which would snap a two-day winning streak. The AI ​​giant is an IBD Leaderboard stock.

Shares remain just below their all-time highs set on March 8.

Dow Jones Leaders: Apple, Microsoft

Among the Dow Jones stocks in the Magnificent Seven, Apple (AAPL) and Microsoft (MSFT) was trading lower ahead of Tuesday’s stock market open.

Apple shares fell 0.9% on Monday, back near their recent lows. The shares remain sharply below their long-term 200-day limit. The stock fell 0.3% on Tuesday morning.

Shares of Microsoft ended a five-day losing streak on Monday as they rebounded 0.9%. The software giant just reached new highs. And shares were down 0.3% early Tuesday.

Make sure you follow Scott Lehtonen on X, formerly known as Twitter, at @IBD_SLehtonen to learn more about growth stocks, the Dow Jones Industrial Average, and the current stock market.


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