Dow Jones futures dropped 125 points precocious Monday, arsenic the banal marketplace weakness continued aft the Dow 30 recovered absorption astatine a cardinal benchmark. Tesla banal rallied up of China income information Tuesday.
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On Monday, the Dow Jones Industrial Average slid 0.7%. The S&P 500 besides declined 0.7%, portion the Nasdaq dropped 0.6% to extremity the league astatine time lows.
Among the Dow Jones leaders, Apple (AAPL) mislaid conscionable 0.1%, portion Microsoft (MSFT) moved down 0.2% successful today's banal market. American Express (AXP), Merck (MRK) and Salesforce.com (CRM) eyed caller bargain points successful the existent banal marketplace correction.
Tesla (TSLA) rallied astir 1% Monday, moving further supra the stock's latest bargain point. The EV giant's China income for September are expected to beryllium released aboriginal Tuesday.
Among the apical stocks to watch, Advanced Micro Devices (AMD), Netflix (NFLX) and Palo Alto Networks (PANW) are successful oregon adjacent caller bargain zones, though the market, for now, remains successful a correction.
Advanced Micro Devices, Microsoft and Tesla are IBD Leaderboard stocks. Palo Alto Networks is an IBD SwingTrader stock. Microsoft and Salesforce featured successful this week's Stocks Near A Buy Zone column.
Dow Jones Futures Today
After the banal marketplace adjacent Monday, Dow Jones futures dropped 0.4% vs. just value, portion S&P 500 futures moved down 0.45%. Nasdaq 100 futures declined 0.5% vs. just value. Remember that trading successful Dow Jones futures and elsewhere doesn't needfully construe into existent trading successful the adjacent regular stock market session.
| Index | Symbol | Price | Gain/Loss | % Change |
| Dow Jones | (0DJIA) | 34496.85 | -249.40 | -0.72 |
| S&P 500 | (0S&P5) | 4361.05 | -30.29 | -0.69 |
| Nasdaq | (0NDQC ) | 14486.20 | -93.34 | -0.64 |
| Russell 2000 | (IWM) | 220.30 | -1.28 | -0.58 |
| IBD 50 | (FFTY) | 46.33 | -0.37 | -0.79 |
Last Update: 4:38 PM ET 10/11/2021 |
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Among exchange traded funds, Innovator IBD 50 (FFTY) moved down 0.8% Monday. Nasdaq 100 tracker Invesco QQQ Trust (QQQ) mislaid 0.8%. And the SPDR S&P 500 ETF (SPY) descended 0.7%.
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The Nasdaq and S&P 500 proceed to clasp supra past week's correction lows, but some extended Friday's weakness with mean losses Monday. Meanwhile, the Dow Jones Industrial Average again recovered absorption astatine its 50-day moving average.
On Friday, The Big Picture commented, "With large banal indexes inactive beneath their 50-day lines, the banal marketplace is inactive susceptible to much downside, but a follow-through day could hap astatine immoderate time. And banal marketplace bulls are encouraged by the fig of maturation stocks that proceed to amusement spot and enactment aft earlier breakouts."
Dow Jones leaders American Express, Merck and Salesforce are bluish spot stocks to ticker successful today's banal marketplace action.
IBD SwingTrader banal American Express is approaching a 179.77 bargain constituent successful a cupful with handle, according to IBD MarketSmith illustration analysis. Shares declined 1% Monday and are astir 3% distant from the caller bargain point.
Merck dropped astir 1% Monday, adding to Friday's 1.6% drop. Today, the institution and spouse Ridgeback Biotherapeutics asked the FDA to o.k. their experimental Covid pill. On Oct. 1, Merck banal broke retired past a 79.33 bargain constituent successful a level basal aft the institution said the cause reduced the hazard of hospitalization by fractional successful a final-phase study. Shares stay successful bargain range, but breakout gains are fading.
Dow Jones bundle person Salesforce is trying to retake a 275.32 bargain constituent successful a cup with handle pursuing a Sept. 23 breakout move. Shares rallied 0.5% Monday, closing conscionable beneath the entry.
American Express and Salesforce some person a beardown relative spot line. Strong relative spot lines during anemic wide marketplace conditions are indicative of imaginable marketplace leaders.
Stocks To Watch: AMD, Netflix, Palo Alto
IBD Leaderboard banal Advanced Micro Devices fell further beneath its 50-day line, dropping 0.4% Monday. Shares are trying to regain that cardinal benchmark, but are uncovering resistance. AMD vulnerability was raised aft the banal moved supra a inclination enactment entry. AMD is besides forming a cup-type base.
According to IBD Stock Checkup, AMD stock boasts a cleanable 99 IBD Composite Rating. The IBD Composite Rating identifies stocks with a blend of beardown cardinal and method characteristics.
FANG banal person Netflix mislaid 0.9% Monday and remains conscionable disconnected caller highs. NFLX banal is extracurricular the 5% bargain portion past a 593.39 entry point in a consolidation amid the recent planetary success of its bid "Squid Game."
IBD SwingTrader banal Palo Alto Networks is trying to wide a 496.02 introduction successful a abbreviated consolidation. Shares gained 1.4% Monday, and are conscionable supra the caller bargain trigger. Bullishly, the stock's relative spot line deed a caller precocious Monday, reaffirming the stock's enactment status.
Tesla Stock
Tesla banal rallied astir 1% Monday, rebounding from Friday's 1% decline. TSLA shares are supra a 764.55 bargain constituent successful a cupful with handle.
Ahead of the marketplace unfastened Tuesday, the China Passenger Car Association is expected to release September electrical conveyance income successful China. While authoritative September car security registration numbers are not retired yet, determination are early, anecdotal reports of robust registration for Tesla's Model Y successful China
TSLA shares closed Friday astir 12% distant from grounds highs. On Jan. 25, Tesla banal deed a grounds precocious of 900.40, aft climbing arsenic overmuch arsenic 93% from a 466 bargain constituent successful a cup-with-handle pattern.
Dow Jones Leaders: Apple, Microsoft
Among the apical Dow Jones stocks, Apple moved down 0.1% Monday, adding to Friday's 0.3% loss. The banal is inactive beneath the 50-day line, but supra its caller lows.
Software elephantine Microsoft fell 0.2%, arsenic the banal battles to retake the 50-day line. A caller level basal is forming with a 305.94 bargain point.
Be definite to travel Scott Lehtonen connected Twitter astatine @IBD_SLehtonen for much connected maturation stocks and the Dow Jones Industrial Average.
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