The Dow Jones Industrial Average rose Tuesday morning as blue chips Johnson & Johnson and Travelers released their earnings results. Later, Netflix earnings will be released after the close of trading.
X
Giant for oilfield services Halliburton (HAL) and defense giant Lockheed Martin (LMT) reported gains ahead of the market open on Tuesday and announced quarterly results for their respective groups. HAL shares are down 1.1% in the early morning and Lockheed Martin shares are down 1.2% in morning trade.
Lululemon (LULU) was up more than 3% early Tuesday after Truist upgraded the stock from hold to buy. Twitter (TWTR) is down nearly 2% after rising 7.5% on Monday. And electric vehicle icon Tesla (TSLA) was up 0.7% on Tuesday morning.
Among Dow Jones executives Apple (AAPL) and Microsoft (MSFT) lost a fraction in today’s stock market.
Despite the difficult stock market rally, the Dow Jones is the leader American Express (AXP) and Caterpillar (CAT) – along with IBD Leaderboard watchlist holdings Edward’s Biological Sciences (EW), Murphy Oil (MUR), Raytheon technologies (RTX), sleeve (SHEL) and Ultimate beauty (ULTA) – are among the top stocks to buy and watch on Tuesday.
Microsoft and Tesla are IBD Leaderboard stocks. Caterpillar and Edwards Lifesciences were featured in this week’s ‘Stocks Near a Buy Zone’ column. Edwards was also the IBD stock of the day on Monday. And Caterpillar is an IBD SwingTrader stock.
Dow Jones Today: Treasury Yields, Oil Prices
After Tuesday’s open, the Dow Jones Industrial Average was up 0.6%, while the S&P 500 was up 0.5%. The tech-heavy Nasdaq Composite rose 0.3% in morning trade.
Among exchange-traded funds, Nasdaq 100 tracker Invesco QQQ Trust (QQQ) gained 0.3%. The SPDR S&P 500 ETF (SPY) was up 0.5%.
The 10-year Treasury yield rose to 2.9% Tuesday morning after rising to 2.86% on Monday, the highest since December 2018. Meanwhile, US oil prices fell more than 3% as crude oil Texas Intermediate traded below $104 a barrel.
Stock market rally continues struggle
On Monday, the stock market ended with modest losses, extending Thursday’s sharp declines.
Monday’s The Big Picture column commented, “Holding the S&P 500 at the 4,400 level is doubtful. But the index bottomed out at 4,370. This is significant as it is 13 points above the close of 4,357 on March 16th when the S&P followed – confirming the rally. So technically, the shaky uptrend survives. The same cannot be said for the Nasdaq, which undercut its March 18 follow-through more than a week ago. The tech-heavy index should be viewed as in correction. And the general weakness in tech stocks only reinforces that notion.”
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
Dow Jones Earnings: Johnson & Johnson, Travelers
Dow Jones Stocks Johnson&Johnson (JNJ) and traveler (TRV) released their quarterly results early Tuesday.
JNJ stock rose nearly 2% after the company cut its full-year earnings and revenue outlook. Shares are in the buy range above the buy point of a double bottom at 173.72.
Travelers shares fell nearly 2% after the insurance giant posted better-than-expected earnings and sales in the first quarter. The stock is extended past the entry of a flat base of 163.39.
Dow Jones stocks to buy and look at: American Express
Dow Jones financials American Express is following a cup and handle basis and shows a buy point of 194.45. AXP shares were up 0.5% Tuesday morning.
Meanwhile, IBD SwingTrader stock Caterpillar is range-bound beyond the 227.15 mug buy point after Thursday’s breakout move. The 5% buy area extends to 238.51. A bullish indicator is that the stock’s RS line is at its highest level since June 2021. Shares were flat on Tuesday.
Four top growth stocks to buy and watchrightde Stock market rally
Stocks to buy and watch: Edwards, Murphy, Raytheon, Shell, Ulta
Edwards Lifesciences IBD leaderboard watch list now shows a mug with a handle with a buy point of 125.21 as a result of last week’s weakness. EW shares rose nearly 1% Tuesday morning after falling 0.6% on Monday.
Murphy Oil broke above the buy point of an ascending base of 43.30 amid Monday’s 3.2% gain. MUR stock has a perfect IBD Composite Rating of 99 according to the IBD Stock Checkup. Shares fell 1% early Tuesday.
Defense manufacturer Raytheon Technologies closed just below the buy point of a flat base of 104.44 after shares edged higher on Monday. RTX shares were slightly higher Tuesday morning.
Oil & gas producer Shell, IBD stock of the day April 1 is range bound above the buy point of a flat base of 56.23 after rising 0.4% on Monday. The 5% buy range goes until 04/59. SHEL shares are up nearly 1% Tuesday morning.
Ulta Beauty shares are in the 5% buy range behind a cup with Handle’s buy point of 408.83, according to chart analysis by IBD MarketSmith. Buy area rises to 429.27. The stock’s relative strength line is at a new high, which is an important sign of market leadership. ULTA shares were up 0.4% early Tuesday.
Netflix earnings
Netflix earnings are expected late Tuesday, and analysts say the company could expect its slowest growth in 10 years. The company’s earnings are expected to fall 22% to $2.92 per share on sales of $7.93 billion. Sales are expected to increase by 11% compared to the same period last year.
NFLX shares are more than 50% off their 52-week high after falling 1% on Monday.
Join IBD experts as they analyze leading stocks from the current stock market rally on IBD Live
Tesla stock
Tesla shares rose 0.7% Tuesday morning, about to add to Monday’s 2% gain. The EV titan is set to release its quarterly earnings results late Wednesday.
Shares of Tesla closed about 13% off Monday’s mug buy point of 1,152.97. The stock traded as low as 1,243.49 on Nov. 4 and closed about 19% off that all-time high on Monday.
Dow Jones Leaders: Apple, Microsoft
Among Dow Jones shares, Apple shares triggered the 7%-8% loss cap rule from a buy point of 176.75 on a double bottom basis last week. Meanwhile, a grip buy point at 179.71 is the last entry to watch. The stock was down 0.3% Tuesday morning.
Software leader Microsoft was up 0.25% on Monday but remains well below its 50- and 200-day moving averages. The stock is down about 20% from its 52-week high. MSFT shares fell 0.2% early Tuesday.
Follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones Industrial Average.
YOU MAY ALSO LIKE:
Top growth stocks to buy and watch
Learn how to time the market with IBD’s ETF market strategy
Find the best long-term investments with IBD Long-Term Leaders
MarketSmith: Research, charts, data and coaching in one place
How to Research Growth Stocks: Why This IBD Tool Makes Finding Top Stocks Easier%