Dow Jones Drops Ahead Of Fed Minutes; Tesla Stock Dives To New Low

Dow Jones futures were little changed ahead of Tuesday’s open after the Dow Jones Industrial Average ended with modest losses on Monday. Tesla stock plunged, hitting a 52-week low and approaching a two-year low. Minutes of the Federal Reserve’s latest policy meeting are due out on Wednesday.


The short holiday week will see a flood of economic data on Wednesday, including consumer sentiment, durable goods orders, early jobless claims, PMI readings and new home sales. The stock market will be closed Thursday for Thanksgiving, with a shortened trading session on Friday.

Dell (Dell), Urban outfitters (URBN) and Enlarge video (ZM) were the main drivers of earnings on Monday night. DELL stock fell 2.5% in extended trade, while Urban stock rebounded nearly 3%. Zoom Video’s stock fell more than 5% late in the session.

Third Quarter Earnings Season continues this week, with reports of Baidu (BIDU), best buy (BBY), Deere (OF), Dick Sporting Goods (SDKs), dollar tree (LTRD) and Nordström (JWN).

stock market today

On Monday, the Dow Jones Industrial Average lost 0.1%, or 45 points, and the S&P 500 fell 0.4%. The tech-heavy Nasdaq composite fell 1.1%.

Among exchange traded fundsNasdaq 100 tracker Invesco QQQ Trust (QQQ) fell 1% and the SPDR S&P 500 (TO SPY) fell 0.4%.

Electric vehicle giant You’re here (TSLA) slipped 6.8% on Monday. Among Dow Jones Stocks, Apple (AAPL) are trading down 2.2% and Microsoft (MSFT) increased by 0.3% in stock market today.

IBD classification Stock Arista Networks (A NET), GlobalFoundries (SFP), KLA (KLAC) and Shoal technologies (SHLS) — as well as the Dow Jones name caterpillar (CAT) – are among the best stocks to buy and watch.

Arista Networks is a IBD classification stock and was a recent IBD Stock of the day. GlobalFoundries was presented last week Stocks column near a buy zone. The shoals were Thursday’s IBD 50 Stocks To Watch pick.

4 most important growth stocks to buy and watch in the currentrStock market rally

Dow Jones Futures Today: Treasury Yields, Oil Prices

Before Tuesday’s opening bell, Dow Jones futures, S&P 500 futures and technology-heavy Nasdaq 100 futures were little changed from fair value. Remember that overnight action in Dow Jones Futures and elsewhere does not necessarily translate into actual trading over the next stock Exchange session.

The 10-year Treasury yield rose to 3.82% on Monday, ending a two-day winning streak.

U.S. oil prices briefly dipped on Monday after the The Wall Street Journal reported that OPEC is considering an increase in production up to 500,000 barrels per day. Saudi Arabia later denied the report, causing oil prices to plummet from their all-time lows. West Texas Intermediate futures traded below $76 a barrel on Monday before paring losses.

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What to do during the stock market rally

This is an important time to read IBD’s The Big Picture column with the stock trend back into a “confirmed uptrend”.

At this stage, it is important to be flexible. Despite the rebound in early November, investors should remain cautious by limiting their exposure to more than 40%. Wait for more confirmation of continued strength before adding more exposure. An immediate distribution in major equity indices would be a sign to stay more defensive.

If your recent stock purchases continue to progress, you should feel more confident in the stock market rally. But sharp reversals and losing trades would of course be signs to keep more of your powder dry.

(Check IBD Action Lists as the INN 50 and Stocks near a buy zonefor additional stock ideas.)

Five Dow Jones Stocks to Buy and Watch Now

Dow Jones Stocks to Watch: Caterpillar

Caterpillar, member of the Dow Jones, remains below 238 of a cutting base point of purchase, according IBD Pattern Recognition MarketSmith, after a recent escape attempt. Caterpillar shares rose 0.3% on Monday.

cat stock boasts an impressive 95 out of a perfect IBD composite score of 99, according to the IBD inventory check.

Top stocks to buy and watch: Arista, GlobalFoundries, KLA, Shoals

IBD classification Arista Networks stock remains above choppy 132.97 base point of purchase despite Monday’s 0.6% drop.

Chip foundry GlobalFoundries is still in buy range above a buy point of 66.06 in a cup basis after Monday’s 2.05% loss, according IBD MarketSmith Pattern Recognition.

KLA is building a mug with handle that has a buy point of 392.60 amid Monday’s 1.1% decline. On the upside, the stock’s relative strength line hit a new high last week, signaling a strong outperformance against the S&P 500.

Shoals Technologies remains out of the buy range past a buy point of 28.57 despite posting a second straight decline on Monday. The 5% buy zone peaked at 30. Wait for an orderly move back into the buy range before considering a stock purchase.

Join IBD experts as they analyze the top stocks of the current stock market rally on IBD Live

Tesla Stock

Tesla Stock slipped 6.8% on Monday, extending a losing streak to four sessions and falling to its lowest level since November 23, 2020.

The shares are around 58% off their 52-week high and significantly below their 50- and 200-day moving averages. Meanwhile, the stock’s RS line continues to reach new lows, indicating a sharp underperformance of the stock market against the S&P 500.

Dow Jones Leaders: Apple, Microsoft

Among Dow Jones Stocks, Apple shares sold 2.2% on Monday but still hold above their recently recovered 50-day line. The stock is around 20% off its 52-week high.

Microsoft rose 0.3% on Monday, ending a three-day losing streak. Stocks continue to hold above the 50-day line. The software giant remains more than 30% off its 52-week high.

Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen to learn more about growth stocks and the Dow Jones Industrial Average.


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