Dow Jones Futures Fall As Biden, Xi Meet; Elon Musk Sells More Tesla
Dow Jones futures were slightly lower early Tuesday, as President Biden met virtually with Chinese President Xi Jinping. Tesla stock continued its recent fall, while Rivian extended its torrid run. And Lucid Motors jumped on earnings results late, while Home Depot and Walmart will report ahead of Tuesday’s open.
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On Monday, the Dow Jones Industrial Average moved down less than 0.1%. The S&P 500 inched lower, while the Nasdaq also eased less than 0.1% lower.
Among the Dow Jones leaders, Apple (AAPL) rose a fraction Monday, while Microsoft (MSFT) lost 0.2% in today’s stock market. American Express (AXP), JPMorgan Chase (JPM) and Nike (NKE) continue to trade near new buy points in the current rally.
Among the EV leaders, Tesla (TSLA) declined 1.9% Monday, while Rivian (RIVN) surged nearly 15%. Lucid Motors (LCID) reported Monday night. And Xpeng Motors (XPEV) is near a buy point.
Among the top stocks to buy and watch, Alphabet (GOOGL), On Holding (ONON) and Shopify (SHOP) are in or near buy zones.
Microsoft, On Holding and Tesla are IBD Leaderboard stocks. Xpeng Motors was featured in this week’s Stocks Near A Buy Zone story. And Alphabet was featured in Friday’s IBD Sector Leaders story.
Dow Jones Today: Biden, Xi Meeting
Ahead of the stock market close Tuesday, Dow Jones futures, along with S&P 500 futures, fell 0.1% vs. fair value. Nasdaq 100 futures moved down 0.1% vs. fair value. Remember that premarket action in Dow Jones futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.
U.S. Stock Market Today Overview |
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|---|---|---|---|---|
| Index | Symbol | Price | Gain/Loss | % Change |
| Dow Jones | (0DJIA) | 36087.98 | -12.33 | -0.03 |
| S&P 500 | (0S&P5) | 4682.88 | +0.03 | +0.00 |
| Nasdaq | (0NDQC ) | 15853.85 | -7.11 | -0.04 |
| Russell 2000 | (IWM) | 238.45 | -1.05 | -0.44 |
| IBD 50 | (FFTY) | 50.31 | -0.84 | -1.64 |
Last Update: 4:36 PM ET 11/15/2021 |
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Among exchange-traded funds, the Nasdaq 100 tracker Invesco QQQ Trust (QQQ) inched lower Monday. And the SPDR S&P 500 ETF (SPY) edged higher.
President Biden and President Xi met virtually Monday evening with lowered expectations for concrete progress. Discussion topics include Taiwan, human rights and Chinese economic practices.
Stock Market ETF Strategy And How To Invest
Stock Market Rally
The stock market rally took a breather Monday, as the major stock indexes logged minor losses.
On Friday, The Big Picture commented, “Yet, the stock market’s recovery healed much of the week’s earlier damage, and a prolonged slump now seems less likely. The past week’s moderate contraction served as a healthy shakeout, after the major indexes raced to record highs.”
For daily stock market commentary, be sure to check out IBD’s The Big Picture.
For now, the current pullback is completely normal, so investors should remain upbeat about the health of the uptrend. Continue to buy breakouts in top growth stocks. And watch for stocks that are holding up the best during this week’s weakness; they…
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