Dow Jones futures were lower after Monday’s trading session. Dow Jones Stocks home depot (HD) and Walmart (WMT) will report ahead of Tuesday’s open, followed by key economic data – Fed minutes and US retail sales – on Wednesday.
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factory (FN) and ZipRecruiter (ZIP) were the key gainers after the close on Monday. Fabrinet shares are up 12%, while ZipRecruiter shares are down 5% in extended trading.
Dow Jones earnings: Home Depot, Walmart
Home improvement retailer Home Depot will release its Q2 results early Tuesday. Analysts expect the company to earn $4.95 per share on sales of $43.3 billion. HD shares closed about 25% below their 52-week high on Monday.
Discounter Walmart extended its winning streak to seven sessions on Monday, rising 0.3%. Walmart’s second-quarter earnings are expected to fall 9% year over year to $1.62 per share on sales of $150.9 billion.
stock market today
On Monday, the Dow Jones Industrial Average rose 0.45% while the S&P 500 gained 0.4%. The tech-heavy Nasdaq Composite rose 0.6%, extending Friday’s gains.
Overview of today’s US stock market | ||||
|---|---|---|---|---|
| index | symbol | Price | loss of gain | % change |
| Dow Jones | (0DJIA) | 33912.63 | +151.58 | +0.45 |
| S&P500 | (0S&P5) | 4297.14 | +16.99 | +0.40 |
| Nasdaq | (0NDQC) | 13128.05 | +80.86 | +0.62 |
| Russell 2000 | (IWM) | 201.07 | +0.71 | +0.35 |
| IBD 50 | (FFTY) | 29.83 | -0.12 | -0.40 |
Last updated: 4:34pm ET 8/15/2022 | ||||
Among exchange-traded funds, Nasdaq 100 tracker Invesco QQQ Trust (QQQ) was up 0.8% and SPDR S&P 500 (SPY) was up 0.4%.
EV giant Tesla (TSLA) rose 3.1% on Monday. Among Dow Jones executives Apple (AAPL) and Microsoft (MSFT) are up 0.6% and 0.5% respectively in today’s stock market.
Dow Jones shares are rising in a healthy stock market environment Coke (KO) and note (MRK) — as well Albemarle (ALB), Costco (COSTS), Monolithic Energy Systems (MPWR) and Ollie’s Bargain Outlet (OLLI) – are among the top stocks to buy and watch.
Albemarle is an IBD Leaderboard stock. Albemarle and Costco were featured in this week’s “Stocks Near a Buy Zone” column.
Dow Jones Futures Today: Treasury Yields, Oil Prices, Fed Minutes
Ahead of Tuesday’s open, Dow Jones futures, along with the S&P 500 futures and Nasdaq 100 futures, were each down 0.1% from fair value. Keep in mind that overnight action in Dow Jones futures and elsewhere does not necessarily result in actual trading in the next regular trading session.
The 10-year government bond yield traded lower on Monday, closing at 2.79%, extending Friday’s losses. In early August, the 10-year yield hit its lowest level since early April but is now attempting to recover. Meanwhile, US oil prices fell more than 3%, with West Texas Intermediate futures trading below $89 a barrel.
The Federal Reserve’s minutes from its last meeting are due Wednesday morning. The minutes are likely to include references to the central bank’s thoughts on possible rate hikes at the September meeting. At the most recent Fed meeting, the central bank announced a 75 basis point rate hike for the second straight meeting, and Fed Chair Jerome Powell hinted that a third such hike in September “may be appropriate”.
What to do with the current stock market rally?
The stock market rally remains healthy with the Dow Jones Industrial Average enjoying a four-day winning streak. The Nasdaq and S&P 500 indexes shrugged off Thursday’s decline and are up for two straight sessions.
As the market shows signs of strength, investors have the green light to increase exposure, but keep positions small for now. As a new purchase progresses, systematically increase exposure. There’s still a lot of uncertainty for the stock market, so it still makes sense to have a decent amount of cash on hand.
Friday’s The Big Picture column commented: “The stock market roared to cap its fourth straight week on Friday.
If you are new to IBD, you should take a look at the CAN SLIM stock trading system and basics. Recognizing chart patterns is a key to investing guidelines. IBD offers a wide range of growth stock lists such as Leaderboard and SwingTrader.
Investors can also create watch lists, find companies approaching a buy point, or develop custom screens at IBD MarketSmith.
Five Dow Jones stocks to watch right now
Eyes on Dow Jones stocks: Coca-Cola, Merck
Dow Jones soda giant Coca Cola is building a flat base with a buy point of 67.30. A handle entry at 65.14 is also in play. Stocks are recovering from their 50-day moving average and nearing early entry amid Monday’s 1.3% rally.
Merck is also building a flat base, a pattern that shows a buy point at 95.82. Stocks are attempting to hold above their 50-day moving average amid Monday’s 0.5 percent decline, according to IBD MarketSmith chart analysis.
MRK stock is showing a solid 94 out of 99 perfect IBD Composite Ratings, according to the IBD Stock Checkup. Investors can use the IBD Composite Rating to easily gauge the quality of a stock’s fundamental and technical metrics.
4 Top Growth Stocks to Watchrightde Stock market rally
Top stocks to watch: Albemarle, Costco, Monolithic, Ollie’s
IBD leaderboard stock and lithium producer Albemarle is range-buying with Handle’s 273.78 buy point after breaking out of a major cup on Friday. The 5% buy zone extends to 287.47. Early last week, shares surpassed a minor cup with Handle’s buy point at 250.25. Shares rose 0.9% on Monday, extending a winning streak to four sessions.
Retail giant Costco builds a mug with a handle that has a buy point of 552.81. The stock is up 1.6% on Monday and is about 3% off its last entry.
The latest IBD stock of the day Monolithic Power Systems added a grip to a cup base last week, moving the correct buy point to 541.49 from 580.10. Meanwhile, shares remain above an entry of 514.80. The stock rose 1.7% on Monday.
Ollie’s Bargain Outlet bounces back from its 10-week line – a critical level of support – and places the top discounter in a new buying zone. Stocks are also carving out a grasp for a major cup base, setting the final buy point at 72.37. The current price action is about 10% away from this entry. Shares lost 0.4% on Monday.
Join IBD experts as they analyze leading stocks from the current stock market rally on IBD Live
Tesla stock
Tesla shares rose 3.1% on Monday to close at their highest level since May 4. Stocks are attempting a decisive move back above the resistance around their 200-day moving average, which is an important level to watch. The 3:1 stock split will take place on August 24th.
The stock is down about 25% from its 52-week high.
Dow Jones Leaders: Apple, Microsoft
Among Dow Jones stocks, Apple shares rose 0.6% on Monday, climbing for the second straight day. The stock continues to form the right side of a cup base that has a buy point of 179.71. Another interpretation could be a large double bottom going back to January. In each case, the point of purchase is identical. Be on the lookout for a potential hold that is forming and offer a lower entry.
On an optimistic note, the stock’s relative strength line is already at fresh highs, suggesting a major outperformance from the stock market.
Microsoft gained 0.5% on Monday, closing just below its 200-day long-term moving average, which is a key resistance area to watch. The stock closed about 16% below its 52-week high.
Follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones Industrial Average.
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