Dow Jones futures were lower at Tuesday’s open after the Dow Jones industrial average rose 528 points on Monday. Tesla stock slid more than 6% on Monday, closing at its 2022 low.
Inflation data, central bank meeting
Consumer inflation data will be released on Tuesday morning. According to Econoday estimates, the CPI is expected to rise 0.3% in November and 7.3% for the year. Additionally, the next Federal Reserve policy meeting takes place on Tuesday and Wednesday.
With the central bank already forecasting a 50-basis-point hike, investors will be looking for further guidance on the central bank’s plans. A pivot from aggressive tightening seems unlikely, but some respite from punishing rate hikes would be welcome. As stated therein CME’s FedWatch toolTraders are placing a 74% chance of a 50-basis-point rate hike.
The 10-year Treasury yield rose to 3.61% on Monday.
Stock market today
On Monday, the Dow Jones industrial average rose 1.6%, or 528 points, and the S&P 500 rose 1.4%. The tech-heavy Nasdaq composite followed with a 1.3% gain. in the middle Exchange Traded FundsNasdaq 100 tracker Invesco QQQ Trust (QQQ) 1.3% and the SPDR S&P 500 (espionage1.4% up.
Allegro Microsystems (ALGM), IBD Leaderboard Stock Dexcom (DXCM), KLA (KLAC) and Tran Technologies (TT) — as well as Dow Jones names caterpillar (CAT), Home Depot (HD) and UnitedHealth Group (UNH) — are among the best stocks to buy and watch.
Dexcom and Trane IBD Leaderboard Shares. United Health featured During this week Stocks near a buy zone column. Allegro is the latest Pick the IBD 50 Stocks to Watch. Caterpillar and Dexcom are the latest IBD stock of the day Companies.
Dow Jones Futures Today: Oil Prices
Before the opening hours on Tuesday, Dow Jones futures lost 0.1% and fair value, while S&P 500 futures fell 0.2%. Tech-heavy Nasdaq 100 futures fell 0.3% versus fair value. Remember that it is an overnight operation Dow Jones futures The next routine elsewhere doesn’t necessarily translate into actual trading stock market session.
US oil prices rose more than 3% on Monday, recovering from their lowest levels of the year. West Texas Intermediate futures traded above $73a a barrel.
What to Do in a Stock Market Rally
Now is an important time to study IBD’s The Big Picture column The stock market trend is once again in a “Confirmed Uptrend”.
Although the Nasdaq and S&P 500 indexes are bullish, they are still better than safe at this point due to current market volatility. That said, it’s OK to look for stocks to buy, but keep your overall exposure light and keep small positions to begin with.
When it comes to new purchases, what kind of feedback are you getting from the market? Are your recent purchases making solid progress? If so, it’s okay to give them some space. But don’t be afraid to take partial profits if a gain is at least 10%. If new purchases go the wrong way, or if immediate selling occurs, cut losses instead of waiting when stocks fall 3% to 4%. 7%-8% rule stimulus.
Dow Jones stocks to buy and watch: Caterpillar, Home Depot, UnitedHealth
Dow Jones member Caterpillar is moving near 238 of a cup base Point to buy, According to IBD MarketSmith model recognitionThat followed Monday’s 2.5% gain. CAT share A perfect 99 shows a solid 95 on the IBD composite score IBD Stock Checkout.
Home improvement retailer Home Depot ended Monday less than 1% below a cup-with-handle base’s 329.77 buy point following the session’s 2.3% advance.
Healthcare major UnitedHealth Group is finding a flat base with a buy point of 558.20. Shares are up just 2% from their latest entry Monday.
Best stocks to buy and watch: Allegro, Dexcom, KLA, Trane
Allegro Microsystems closed Monday, crossing a cup with a 32.07 buy point on the handle. ALGM stock traded up 0.1% on Monday. And the 5% chase zone goes up to 33.67.
IBD Leaderboard Shares of Dexcom attempted to break out above a 123.46 buy point on a flat floor, but are 5% below entry after recent losses. Dexcom shares rose 0.3% on Monday.
Chip leader KLA is moving up a cup with the handle’s 392.60 entry after Monday’s 1.9% advance. Bullishly, the relative strength line continues to make new highs in the current market volatility.
Trane Technologies ended Monday 4% below a buy point of 181.72 in a cup with a handle after a small drop in the session.
Tesla stock It slipped 6.3% on Monday, giving up all of Friday’s gains and returning to its recent lows.
In recent weeks, TSLA stock hit its lowest level since November 23, 2020, hitting a new 52-week low of 166.19. Shares closed Monday at 167.82, 58% off their 52-week high.
Dow Jones Leaders: Apple, Microsoft
in the middle Dow Jones Stocks, Apple shares rose 1.6% on Monday, but are still below the 50-day line after last week’s losses. The stock is more than 20% above its 52-week high.
Microsoft rose 2.9% on Monday as shares continued to hold above the 50-day line. The software company is about 27% off its 52-week high.
Don’t forget to follow Scott Lehtonen on Twitter @IBD_SLehtonen Learn more about growth stocks and the Dow Jones Industrial Average.
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