Futures: Election results, inflation data on deck

Dow futures rose ahead of Tuesday’s opening and US election results. Key inflation data, including the Consumer Price Index, is due later in the week.


Republicans are almost certain to reclaim the House in Tuesday’s midterm elections. They seem to have an advantage in winning the Senate, although that is less clear. Democrats currently have a slim majority in the House of Representatives, with Vice President Kamala Harris holding a 50-50 deciding vote in the Senate.

The Consumer Price Index is due on Thursday, and is expected to rise 0.7% in October from the previous month. Consumer inflation is expected to rise by 8% year over year.

Diamondback Energy (FANG), Lift (LYFT), mosaic (Moose) and Shock Wave Medical (SWAV) was the main earnings reporter late Monday.

FANG stock traded slightly lower in extended trade, while Lyft stock is down more than 16%. Mosaic stocks rose slightly. Shockwave shares lost more than 5%.

stock market today

On Monday, the Dow Jones Industrial Average advanced 1.3%, or more than 400 points, and the S&P 500 gained 1%. The tech-heavy Nasdaq Composite is up 0.85%.

Among the exchange-traded funds, the Nasdaq 100 index-tracked Invesco QQQ Trust (QQQ) rose 1.1% and the SPDR S&P 500 (SPY) rose 0.9%.

Giant EV Tesla (TSLA) slipped 5% on Monday. Among Dow Jones stocks, apple (AAPL) up 0.4% and Microsoft MSFT stock jumped 2.9% in the stock market today.

Among the top stocks to buy and watch, Albemarle (ALB), IBD Leaderboard Watch List Arista Networks (Network), CF . Industries (CF) and New Fortress Energy (NFE) – so do the names of Dow Jones merck (MRK) and United Health Group (UN) – Among the top stocks to buy and watch.

Arista Networks is an IBD Leaderboard watchlist. Albemarle featured in this week’s column stocks near the buy zone, along with three other ideas for top stocks.

4 Growth Stocks You Should Buy and Watch on Cursstock market rally

Dow futures today: Treasury yields, oil prices

Before the opening bell on Tuesday, Dow futures, along with S&P 500 and Nasdaq 100 futures, were up about 0.1% against fair value. Remember that the overnight action in Dow Jones futures and elsewhere does not necessarily translate into actual trading in the next regular stock market session.

The 10-year Treasury yield rose to 4.21% on Monday, extending its winning streak to four sessions and closing at its highest level since Oct. 24. Meanwhile, US oil prices fell nearly 1% as West Texas Intermediate crude futures were trading near $92 a barrel. . Last week, West Texas Intermediate crude futures hit their highest level since mid-October.

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Q3 earnings season

Third-quarter earnings season continues this week, with more key reports coming in Disney (DIS), double check (DV), Dr. Horton (DHI), Occidental (OXY) and Roblox (RBLX).

Earnings reports cause many of the biggest moves in stocks, and they require special focus. Strong earnings can fuel big stocks above new buying points and into buy zones, while a less than impressive announcement can push stocks below key support levels.

The stock market’s reaction to the earnings release can often tell you more than the earnings themselves. If the results look strong but the stock is falling anyway, investors may be concerned about the sustainability of growth, higher costs, or other potential downsides.

With the market entering bullish mode, investors should track companies that easily outperform earnings results and have strong bullish reactions. These stocks may be among the new leaders if the market is able to recover from its recent losses.

What to do in a troubled stock market rally

Now is an important time to read the IBD big picture column after the stock market trend has gone from “confirmed uptrend” to “uptrend under pressure”.

At this point, investors should play the defensive role; Don’t let profitable trades turn negative. As The Big Picture reiterated last week, it makes sense to maintain exposure at 20% or less until the uptrend resumes.

But it wasn’t time to get away completely. The upside is still intact, so investors can still buy breakouts but should focus on stocks with top-tier fundamental and technical metrics.

(See IBD stock listings such as IBD 50 and stocks near the buy zone, for additional stock ideas.)

Five Dow Jones stocks to buy and watch now

Dow Jones stocks to watch: Merck, UnitedHealth

Dow Jones member and IBD 50 Merck stock is out of buy after 93.12 double bottom buy point. Buying range rose 5% to 97.78.

Healthcare giant UnitedHealth continues to consider a cup with its 553.23 point-of-purchase handle, According to IBD MarketSmith, after the attempted breakout last week. Shares rose 1.3% Monday, to close about 1% below the stock’s latest entry.

Top stocks to buy and watch: Albemarle, Arista, CF and New Fortress

Lithium producer Albemarle builds the right side of the base of a teacup with 308.34 points of purchase. Shares rose 0.5% on Monday, extending the winning streak to three sessions.

Arista Networks stock on the IBD Leaderboard watchlist is trying to surpass the 132.97 buy point for a choppy base. On Monday, shares were down 0.4%.

CF Industries is trying to find support around its 50-day moving average amid Monday’s 1% loss. Stocks build a cup base with 119.70 buy points, According to IBD MarketSmith Pattern Recognition.

New Fortress Energy is fast approaching its 63.16 cup base buy point. As the stock is about 6% away from new highs, keep an eye out for a handle to offer an early entry. The leading energy company reported results late Monday, up 1.5% on the day.

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

Tesla Stock

Tesla stock fell 5% on Monday, hitting a new 52-week low and reaching its lowest level since June 2021.

Stocks are down more than 50% from their 52-week highs and sharply below the 50- and 200-day moving average lines.

Dow Jones Leaders: Apple and Microsoft

Among Dow Jones shares, Apple shares rose 0.4% on Monday despite the company’s warning that it has cut iPhone 14 production due to Covid-19 restrictions in China. Apple stock ended a five-day losing streak, but is still nearly 24% below its 52-week high.

Microsoft stock jumped 2.9% on Monday, extending its recovery from a 52-week low on Friday. The software giant is still about 35% of its 52-week high.

Make sure to follow Scott Lehtonen on Twitter at Tweet embed Learn more about developing stocks and the Dow Jones Industrial Average.

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