Market futures decline ahead of important data release

Market futures decline ahead of important data release

Dow Jones futures fell more than 275 points on Tuesday as Wall Street awaited key economic data from the U.S. government. In the meantime, You’re here (TSLA) stock fell on the stock market today ahead of the company’s first quarter deliveries.


Dow Jones futures fell 0.7% from fair value in morning action, while S&P 500 futures fell 0.6%. Tech-heavy Nasdaq 100 futures lost 0.8% from their fair value before the opening bell.

The yield on the 10-year Treasury rose to 4.35%. Additionally, oil prices added to Monday’s gains, with West Texas Intermediate futures trading above $85 a barrel for the first time since October.

Among us exchange traded fundsthe Invesco QQQ Trust tracker Nasdaq 100 ETF (QQQ) was down 0.8%, while the SPDR S&P 500 ETF (TO SPY) fell by 0.6%.

Tuesday early, Wall Street expects The electric vehicle giant will announce deliveries of 457,000 units in the first quarter, according to FactSet. That number started last week at 471,000 and steadily declined before Tesla announced global delivery figures. The consensus number of 457,000 likely includes several analyst forecasts that haven’t been updated in weeks or months.

Tesla stock fell 1.4% premarket Tuesday, threatening to extend its losing streak to three sessions.

Stock market today

UnitedHealth (A H) And Human (HUM) fell by 4.7% and 10.8% respectively after the Biden administration announced that the final Medicare Advantage rates in 2025 will not change from the initial plans in January.

Just after the stock market opens Tuesday, the Department of Labor’s JOLTS report is scheduled to be released at 10 a.m. ET. The Job Openings and Labor Turnover Survey is expected to measure 8.8 million unfilled job openings for February, down from 8.863 million in January, according to estimates. ‘Econoday.

Additionally, Commerce Department factory orders are expected to increase 1% in February, compared to a 3.6% decline in January. This data is also available at 10 a.m.

Top earnings reports include clothing brand PVH (PVH) And Paychex (PAYX).

PVH stock plunged more than 21% premarket, while Paychex stock lost 1.5% ahead of the company’s earnings release.

Be sure to read about how to adapt to changing market conditions, with IBD’s new exposure levels.

Dow Jones falls

On Monday, the Dow Jones Industrial Average fell 0.6% and the S&P 500 fell 0.2%. The tech-heavy Nasdaq Composite Index rose 0.1%.

Monday’s Big Picture Column commented: “For their part, the Nasdaq and the S&P 500 are located near the top of the price channels. Over the past few months, both stock indexes have declined as they climbed toward the upper regions of these channels. holding above the 21-day exponential moving averages. The line has proven to be a reliable support level for both since the confirmed uptrend began in early November.

Now is an important time to read Chronicle The Big Picture by MII amid the continuing stock market rally. Be sure to read how to adapt to changing market conditions, with New levels of IBD exposure.

Learn to Time the Stock Market with IBD’s ETF Market Strategy

Best Stocks to Watch in the Stock Market Today

Alphabet (GOOGLE), Arista Networks (Aneta), DraftKings (DKNG) And ServiceNow (NOW) — plus Dow Jones components Disney (SAY), IBM (IBM) And VerizonCommunications (VZ) – are among the best companies to watch on the stock market today.

ServiceNow featured in this Column Stocks close to a buying zone.

An essential resource for daily escapes is IBD MarketSurge’s “Breaking Out Today” list. This shows MarketSurge Growth 250 stocks that exceed new buy points, such as Google stock. Meanwhile, MarketSurge’s “Near Pivot” list shows stocks near buy points in the bases.

To find more action ideas, check out IBD Stock Lists as MII 50, Large cap 20 And Stocks close to a buy zone. These features identify uptrends and buy points and can be checked daily.

Receive real-time buy and sell alerts on stock market leaders with IBD Leaderboard

Dow Jones: Disney, IBM, Verizon

Disney- the best performer on the Dow Jones in the first quarter – extends beyond the 112.92 of a large cup base with handle point of purchaseaccording to Increase in ITN market graphical analysis. And shares closed out of buy range, despite falling 0.7%. The company is faced with a critical shareholder vote at its annual meeting on Wednesday. Shares were down 0.7% Tuesday morning.

IBM stock remains below the 196.90 buy point, down 0.6% on Monday. Stocks are trying to find support around their 50-day line. IBM shares lost 0.2% on Tuesday.

Telecom giant Verizon builds a cup base with a 43.21 entry, as the stock rebounds bullishly from its 50-day line. Shares of Verizon rose slightly Tuesday morning.

4 Most Important Growth Stocks to Watch in the Stock market rally

Stock market today: Google is close to breaking

Google parent Alphabet surpasses the 153.78 buy point in a consolidation as the stock rose 3% on Monday. Google stock fell 0.9% on Tuesday.

Arista shares returned to a flat base of 292.66 point of purchaseaccording to Market increase charts, with an advance of 3.4% on Monday. And on Tuesday, the stock fell 0.2% in morning action.

Last week, DraftKings fell below its 46.52 buy point during a short consolidation. And the sports betting giant fell further below that figure on Monday, losing 1%. DraftKings stock fell 0.5% Tuesday morning.

Finally, ServiceNow is attempting to retake its 50-day line amid a two-day rally. Stocks build a flat base with an entry of 815.32. The stock fell 0.7% on Tuesday.

IBD’s latest newsletter, MarketDiem, delivers real-world ideas on stocks, options and crypto right to your inbox.

Stocks to watch

These are four stocks that are in or near buy zones in the current stock market.

Company NameSymbolCorrect purchase pointPoint of purchase type
Disney (SAY)112.92Cup with handle
Arista Networks (Aneta)292.66Flat base
DraftKings (DKNG)45.62Consolidation
ServiceNow (NOW)815.32Flat base
Source: MII data as of April 1, 2024

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

Seven Magnificent Stocks: Nvidia

Among the actions of the Magnificent Seven, Nvidia (NVDA) stock fell 0.9% premarket Tuesday, on track to end a two-day winning streak. The AI ​​giant is a IBD Ranking Stocks.

Stocks remain just above their all-time highs, set on March 8.

Dow Jones leaders: Apple, Microsoft

Among Dow Jones Stocks in the Magnificent Seven, Apple (AAPL) And Microsoft (MSFT) traded lower before the stock market opens on Tuesday.

Apple stock fell 0.9% on Monday, back near its recent lows. Stocks remain significantly below their long-term 200-day line. The stock fell 0.3% Tuesday morning.

Microsoft shares ended a five-day losing streak on Monday, rebounding 0.9%. The software giant is poised to reach new heights. And the stock was down 0.3% early Tuesday.

Be sure to follow Scott Lehtonen on X, formerly known as Twitter, at @IBD_SLehtonen to learn more about growth stocks, the Dow Jones Industrial Average and the stock market today.


Top Growth Stocks to Buy and Watch

Learn to Time the Market with IBD’s ETF Market Strategy

Find the best long-term investments from IBD Long-Term Leaders

Partner Nvidia Rides AI Megatrends to 3,594% Gain – With More to Come

Spot Buy Points and Sell Signals with MarketSurge Pattern Recognition

Source Reference

Latest stories