Dow Jones Futures: Headline Inflation Data, Big Banks Earnings Accrued; Apple, Pioneer, Tesla in focus

Dow futures were little changed ahead of Tuesday’s open, with key inflation data due on Wednesday and Thursday. Banks, meanwhile, kicked off first-quarter earnings later this week. Apple, Pioneer Natural Resources and Tesla stocks were in focus after wild swings on Monday.


On the economic front this week, inflation data is due for release in the middle of the week, with the release of the Consumer Price Index and the Producer Price Index. Wall Street expects CPI to rise 0.3% from March, at an annual rate of 5.2%.

Meanwhile, the first quarter earnings season begins with c. B. Morgan Chase (JPM), Citigroup (c) And Wells Fargo (WFC) And PNC Finance (PNC) start earnings bank. And Delta Airlines (DAL) And United Health (United nations) is the first airline and health insurer, respectively, to report for the first quarter.

stock market today

On Monday, the Dow Jones Industrial Average rose 0.3%, with Larva (cat) And daw (daw) big winners. CAT stock rose 3.1%, while Dow stock rose 2.1%. The S&P 500 rose 0.1%, while the Nasdaq Technology Composite fell less than 0.1%.

EV Commander Tesla (TSLA) fell 0.3% on Monday. Pioneer Natural Resources (PXD) by 5.8% on the back of the reports Exxon Mobil (xom) held early acquisition talks with an oil shale company.

Among Dow Jones stocks, apple (AAPL) sold 1.6% and Microsoft (MSFT) is down 0.8% in today’s stock market action.

five below (five), IBD Leaderboard Watchlist stock floor and decoration (FND), service now (now) And Vertex Pharmaceuticals (VRTX) – as well as Dow Jones shares Boeing (Bachelor’s), Cisco systems (CSCO) And visa (Fifth) – among the top-bought and watched stocks with continued market strength.

Floor & Decor and Visa appeared in stocks for the week near the Buy Zone column.

4 growth stocks to buy and watch in Cursstock market rally

Dow futures today: oil prices, treasury yields

Before the opening bell on Tuesday, the Dow Jones, S&P 500 and Nasdaq 100 futures contracts were little changed in overnight trading. Remember that overnight action in Dow Jones futures and elsewhere does not necessarily translate into actual trading in the next regular stock market session.

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The 10-year US Treasury yield rose to 3.41% on Monday. Last week, the 10-year yield hit its lowest level since mid-September. US oil prices fell on Monday, with West Texas Intermediate crude futures settling at just under $80 a barrel.

IBD’s latest newsletter, MarketDiem, gives you actionable ideas for stocks, options and cryptocurrencies directly in your inbox.

What to do in the stock market

Now is an important time to read IBD’s Big Picture column with the stock market headed in a “confirmed uptrend” after recent gains.

Amid the mixed action on Monday, the market outlook remains emphatically bullish, meaning investors continue to get the green light to buy the breakout stock. Recommended exposure to IBD currently sits at 40%-60%, but weakness in growth and other major stocks in recent sessions is concerning.

Two useful lists from IBD MarketSmith to check out right now are “Breaking Out Today” and “Near Pivot”. The latter shows stocks approaching buy points in the bases, while other sponsor stocks rise past buy points during the session.

To find more stock ideas, check out our IBD stock listings, such as defect 50And Big Cap 20 And stocks near the buy area. These features identify bullish patterns and buy pips and should be checked every day.

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

Dow Jones stocks to buy and watch: Boeing, Cisco Systems, Visa

Dow Jones leader Boeing is approaching the 221.43 buy point of the stable base, according to IBD MarketSmith pattern recognition. Shares fell 0.3% on Monday, just 5% from the most recent entry.

Cisco Systems is below 51.84 buy points for a flat base amid Monday’s slight rally. To the upside, the stock’s relative strength line has reached a new high in recent weeks, in a sign of the stock market’s outperformance.

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Visa shares rose 0.2% on Monday, still holding above the 50-day line. The stock continues to form a cup base with 234.40 buying points.

Top stocks to buy and watch: Five Below, Floor & Decor, ServiceNow, Vertex

Five Under was up 4.7% on Monday, topping out at 212.66 buy points on a flat base. The shares are in the 5% buy zone which rose to 223.29.

back storyON MARCH 15: Philadelphia-based FivePillow, which operates 1,292 teen- and mid-range-focused discount stores in 42 states, closed 2022 on profits and revenue. For the fourth quarter, Five Below earnings rose 23% to $3.07 a share, ending a three-quarter year-over-year streak of declines.

Floor & Decor stock on the IBD Leaderboard watch decisively regained its 50-day moving average with a gain of 5.8% on Monday. Last week, FND stock added a handle to the base of the cup, resulting in a buy of 99.47 points.

back storyFloor & Decor operates 191 warehouse format stores and six design studios in 36 states. It sells tile, wood, laminate, vinyl and natural stone flooring products. They also sell decorative accessories. Earnings are expected to decline by 2% this year before rising to 27% in 2024 and 24% in 2025.

IBD SwingTrader pick ServiceNow continues to climb to the right side of the cup base with 494.72 Buy points. Keep an eye out for a potential handle to make a lower entrance.

Back story: NOW tracks and manages the services provided by IT departments. The self-service technology portal also gives workers access to administrative tools and workflow tools.

Vertex Pharmaceuticals is trading at approximately 325.29 buy points to the cup base. VRTX stock rose 0.5% on Monday.

Back story: Vertex Pharmaceuticals researches and develops medical treatments for cystic fibrosis, sickle cell disease, muscular dystrophy, kidney disease and type 1 diabetes.

Join IBD experts as they analyze the leading stocks of the current stock market rally on IBD Live

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Tesla stock

Tesla stock fell another 0.3% on Monday, trimming losses after sliding as much as 4.8% on the open market. However, the losing streak has extended to five sessions. Last week, stocks triggered a 7%-8% loss rule from a buy point of 200.76 in a cup with handle. They fell sharply below the 50-day line, which is a key support level. On Monday, the stock closed 52% off its 52-week high.

TSLA stock fell after the company cut US prices on its Model S and Model X sedans by $5,000 each, to $84,990 and $94,990 for the base models, respectively. The company also lowered the price on its Model 3 sedan and some Model Y crossovers.

Meanwhile, the electric car giant has announced that it is Factory building in Shanghai to produce its Megapack battery.

Dow Jones leaders: Apple and Microsoft

Among Dow Jones shares, Apple shares fell 1.6 percent on the Monday after that IDC data showed Apple’s PC shipments fell more than 40% in the first quarter.

Microsoft shares are back in a buy range, topping out at 276.86 buy points to a flat base, with a decline of 0.8% on Monday. The buy area of ​​5% of the buy point has risen to 290.70.

Shares of Microsoft rose earlier this month after the company announced that it was adding artificial intelligence tools to its suite of popular Office productivity applications. It follows the company’s investment in artificial intelligence startup OpenAI, the company behind the worthwhile ChatGPT app.

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