Dow Jones Futures: Nasdaq Breaks Lower As Bond Yields Soar; Apple,

Dow Jones futures rose slightly overnight, along with S&P 500 futures and Nasdaq futures. The stock market suffered sharp losses once again on Tuesday,  as the 10-year Treasury yield jumped to a fresh two-year high.

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The Nasdaq, Russell 2000 and Dow Jones broke below recent lows while the S&P 500 suffered sharp losses in a broad market sell-off.

Apple stock, Qualcomm (QCOM), CF Industries (CF), Builders FirstSource (BLDR) and Advance Auto Parts (AAP) are five stocks trying to find support at their 50-day or 10-week line. Apple (AAPL) retreated back to its 10-week line, while QCOM stock and Builders FirstSource found support at their 50-day lines. CF Industries and, to a lesser extent, AAP stock bounced off those key levels.

None of these stocks is actionable, given the current market environment, though CF stock is flashing some positive signals. But all are worth watching closely. The relative strength lines are strong for all five names.

J.B. Hunt Transportation Services (JBHT) reported earnings after the close. The trucking firm comfortably beat views, with EPS up 58% and revenue 28%. JBHT stock was little changed overnight. Shares dipped Tuesday but have found support at their 50-day line in recent sessions, unlike many other trucking stocks. The RS line for J.B. Hunt is at new highs.

JBHT stock and BLDR stock are on the IBD 50.

The video embedded in this article analyzed the market action as well as Apple stock, Builders FirstSource and CF Industries.

Dow Jones Futures Today

Dow Jones futures rose 0.1% vs. fair value. S&P 500 futures advanced 0.1%. Nasdaq 100 futures climbed 0.2%.

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

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Stock Market Tuesday

The stock market started off weak and stayed that way. The Dow Jones Industrial Average fell 1.5% in Tuesday’s stock market trading. The S&P 500 index sank 1.8%. The Nasdaq composite dived 2.6%. The small-cap Russell 2000 plunged 3.1%.

The 10-year Treasury yield soared more than 9 basis points to 1.865%, hitting a two-year high. U.S. crude oil prices climbed 1.9% to $85.43 a barrel, the highest close since 2014.

ETFs

Among the best ETFs, the Innovator IBD 50 ETF (FFTY) tumbled 4%, while the Innovator IBD Breakout Opportunities ETF (BOUT) skidded 2.5%. The iShares Expanded Tech-Software Sector ETF (IGV) fell 1.8%. The VanEck Vectors Semiconductor ETF (SMH) gave up 4.5%, with QCOM stock a notable holding.

SPDR S&P Metals & Mining ETF (XME) lost 1.6% and Global X U.S. Infrastructure Development ETF (PAVE) 2.1%. U.S. Global Jets ETF (JETS) descended 1.8%. SPDR S&P Homebuilders ETF (XHB) retreated 2.85%. The Energy Select SPDR ETF (XLE) eked out a 0.4% gain and the Financial Select SPDR ETF (XLF) fell 2.2%. The Health Care Select Sector SPDR Fund (XLV) declined 1.4%

Reflecting more-speculative story stocks, ARK Innovation…