Stocks slide ahead of key data

The Dow Jones Industrial Average fell more than 400 points on Tuesday as Wall Street awaited key economic data from the U.S. government. Tesla (Tesla) stocks plunged today after the company reported weak first-quarter deliveries.


The Dow Jones Industrial Average fell 1.1% in early trading and the S&P 500 fell 1%. The Nasdaq, which is dominated by technology stocks, fell 1.5% after the opening.

The 10-year Treasury yield rose to 4.39%. Oil prices also added to Monday’s gains, with West Texas Intermediate futures topping $85 a barrel for the first time since October.

between us exchange traded fundsNasdaq 100 Tracker Invesco QQQ Trust ETF (QQ) fell 1.5%, while the SPDR S&P 500 ETF (spy) fell 1%.

Earlier Tuesday, Tesla said it delivered 386,810 vehicles in the first quarter, with no deliveries Wall Street estimates The electric vehicle giant is expected to deliver 457,000 vehicles in the first quarter, according to FactSet.

That number started at 471,000 last week and was steadily declining before Tesla announced global deliveries. The consensus figure of 457,000 units likely includes analyst forecasts that haven’t been updated in weeks or months.

Tesla’s stock price plummeted nearly 6% on Tuesday, and may extend its decline to three consecutive trading days.

Today’s stock market

UnitedHealth (united nations institutes of health) and humana (snort) fell 5.7% and 10% respectively Biden administration announced Final Medicare Advantage rates for 2025 will not change from the initial plans in January.

The Labor Department’s JOLTS report will be released at 10 a.m. ET after the market opens on Tuesday. The Job Openings and Labor Turnover Survey predicts 8.8 million job openings in February, down from 8.863 million in January, according to Econoday estimates.

In addition, the Commerce Department expects factory orders to grow 1% in February, after falling 3.6% in January.The data is also released at 10 a.m.

Major profit reports include apparel brands PVH (PVH) and Paycheck (Alipay).

PVH shares plunged more than 20% in early trading, while Paychex shares fell nearly 6%.

Be sure to read how to adapt to changing market conditions based on IBD’s new risk levels.

Dow Jones drops

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

Monday’s Big Picture Column Comments: “In the case of the Nasdaq and S&P 500, they are both near the tops of their price channels. Over the past few months, both stock market indexes have experienced significant gains as they climbed into the upper regions of these channels. Both fell back. Meanwhile, both are rising.” Stay above 21-day exponential moving averageThis line has proven to be a dependent support level for both since the start of the confirmed uptrend in early November. “

Now is an important time to read IBD’s Big Picture Column As the stock market continues to rise. Be sure to read How to Adapt to Changing Market Conditions, New exposure levels for IBD.

Learn how to time the stock market with IBD’s ETF market strategy

The most noteworthy stocks in the stock market today

letter (Google), Arista Networks (Arnett), Draft king (East Ken NG) and Immediate service (Now) — plus Dow Jones constituents disney (DIS), International Business Machines Corporation (International Business Machines Corporation) and Verizon Communications (Wiz) – is one of the most noteworthy companies on the stock market today.

ServiceNow featured here Stocks near the buy zone bar.

A great resource for daily breakthroughs is IBD MarketSurge “Today’s Outbreak” list. Market surge 250 Stocks that break new buying points, such as Google stock. Meanwhile, MarketSurge’s “Near Pivot Points” list shows the stock is close to a bottom buy point.

To find more stock ideas, check out IBD stock list like IBD50, Market 20 and Stocks approaching the buy zone.These features identify bullish patterns and buy points and can be checked on a daily basis.

Get real-time buy and sell alerts from stock market leaders with the IBD Rankings

Dow Jones: Disney, IBM, Verizon

disney – Dow Jones’ strongest stocks in first quarter — Extends beyond 112.92 of cup base with handle buy someaccording to IBD market surges graph analysis. Although shares fell 0.7%, they closed outside buy range.The company is facing key shareholder vote The annual meeting is held on Wednesday. Shares were down 0.6% on Tuesday morning.

IBM stock remains below its flat bottom of 196.90, down 0.6% on Monday. Shares are trying to find support near the 50-day moving average. IBM shares fell 0.2% on Tuesday.

Telecommunications giant Verizon is establishing a cup base with a 43.21 entry point, with the stock bullish from its 50-day line. Verizon shares were slightly higher Tuesday morning.

4 Growth Stocks to Watch Stock market rebounds

Stock Market Today: Google About to Breakout

Google parent company Alphabet broke through the 153.78 buy point during consolidation, and the stock rose 3% on Monday. Google shares fell 1.3% on Tuesday.

Arista shares return to flat bottom at 292.66 buy someaccording to market surge On Monday, the stock rose 3.4%. On Tuesday, the stock fell 2.5% in early trading.

last week, Draft king It fell below the 46.52 buy point in the short-term consolidation. The sports betting giant fell further below that buy point on Monday, falling 1%. DraftKings shares fell 1.8% on Tuesday morning.

Finally, ServiceNow is trying to regain its 50-day moving average on a two-day winning streak. The stock price established a stable base with the entry point of 815.32. The stock fell 1.7% on Tuesday.

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Stocks to Watch

These are four stocks that are in or near buy territory in the stock market today.

Company Name symbol The right buying point Point of purchase type
disney (DIS) 112.92 cup with handle
Arista Networks (Arnett) 292.66 flat base
Draft king (East Ken NG) 45.62 merge
Immediate service (Now) 815.32 flat base
Source: IBD data as of April 1, 2024

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Top 7 Stocks: NVIDIA

One of the seven largest stocks, Nvidia (NVDA) shares fell 2.7% on Tuesday morning, ending a two-day streak of gains.This AI giant is a IBD Ranking Stocks.

Shares remain slightly below the all-time high reached on March 8.

Dow Jones Index leaders: Apple, Microsoft

among Dow Jones Stocks In the Seven Heroes, apple (AAPL) and Microsoft (Microsoft Corporation) traded lower After the stock market opens on Tuesday.

Apple shares fell 0.9% on Monday, back near recent lows. Shares remain well below the 200-day moving average. The stock fell 0.9% on Tuesday morning.

Microsoft shares rebounded 0.9% on Monday, ending a five-game losing streak. The software giant is just off new highs. Earlier on Tuesday, the stock fell 1.1%.

Be sure to follow Scott Lehtonen on X (formerly Twitter): @IBD_SLehtonen Learn more about growth stocks, the Dow Jones Industrial Average and today’s stock market.

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