Daily Trade News

Dow Jones Today, Tech Futures Rise After Monday Sell-Off: Tesla,


Dow Jones futures rose modestly Tuesday morning, along with S&P 500 futures and Nasdaq futures, after Facebook (FB), Nvidia (NVDA), Apple stock and other techs led Monday’s market sell-off.




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Crude oil prices and Treasury yields nudged higher Tuesday, continuing to support energy stocks and financials such Devon Energy (DVN) and Bank of America (BAC). Meanwhile, Tesla (TSLA) kept rising.

Facebook stock rose about 1% in premarket trading, after tumbling 4.9% on Monday, nearing its 200-day line amid a massive outage that affected various Facebook properties. That outage, which ended Monday evening, overshadowed the latest whistleblower revelations regarding Facebook practices. But the whistleblower, Francis Haugen, will testify before the Senate today .

Apple (AAPL) advanced just a fraction in the premarket after slumping 2.5% on Monday. AAPL stock is approaching its 200-day line as well.

Nvidia stock climbed just over 1% before the open after skidding 4.7% on Monday, losing sight of its 50-day line. KeyBanc maintained an overweight rating and lifted NVDA’s price target to 260 from 245.


The 200-Day Average: The Last Line Of Support?


On the upside, Devon stock rose more than 2% after popping 5.3% to a new high on Monday, along with many other energy plays. But it’s significantly extended now. BAC stock edged up about 1%, within a buy zone after rising slightly Monday, well off highs.

Tesla stock climbed a fraction Tuesday. The IBD Leaderboard stock topped 800 on Monday, the best since February, following Tesla’s strong Q3 deliveries, but faded for a 0.8% gain to 781.53. That’s still in range from a 764.55 handle buy point.

A San Francisco federal jury late Monday ordered Tesla to pay former employee Owen Diaz $137 million, for racist remarks and more in a hostile work environment. The jury awarded more than attorneys had sought. Tesla will almost certainly appeal.

Dow Jones Futures Today

Dow Jones futures were up 0.5% vs. fair value. S&P 500 futures climbed 0.5%. Nasdaq 100 futures gained 0.4%.

Crude oil futures rose 1.5% or more after Monday’s solid gains to multi-year highs. The 10-year Treasury yield climbed a couple basis points after giving up most of Monday morning’s gains.

Remember that overnight action in Dow futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.


Join IBD experts as they analyze actionable stocks in the stock market rally on IBD Live


Stock Market Monday

The stock market suffered another big sell-off Monday, with the S&P 500 and Nasdaq composite undercutting Friday’s lows. That means their rally attempts that started Friday are over and have to start again. The Dow Jones did not undercut its recent low, so Monday was day two of a stock market rally attempt.

The Dow Jones Industrial Average fell 0.9% in Monday’s stock market trading. The S&P 500 index lost 1.3%. The Nasdaq composite gave up 2.1%, closing in on its 200-day line. The small-cap Russell…



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