Stocks rose on US election day

The Dow Jones Industrial Average rose on Tuesday morning as US voters headed to the polls. Chip giant Nvidia (NVDA) jumped 3% after that high-end chip performance designed to meet US export restrictions to China.


The key drivers of earnings on Tuesday were Diamondback Energy (FANG), GlobalFoundries (GFS), Elevator (ELEVATOR), Mosaic (MOS) and Shockwave Medical (SWAV).

FANG stocks traded a fraction lower in morning trade, while GlobalFoundries grew by more than 6%. Lyft shares fell more than 16%. Mosaic shares rose. And Shockwave shares lost more than 6%.

Electric vehicle giant Tesla (TSLA) traded down nearly 3% Tuesday morning. Dow Jones Technology Leaders An apple (AAPL) and Microsoft (MSFT) were higher after today’s stock market open.

Among the best stocks to buy and watch, Albemarle (ALB), IBD ranking watch list stock Arista Networks (NETWORK), CF Industries (CF) and New fortress energy (NFE) — as well as Dow Jones names Merck (MRK) and UnitedHealth Group (UNH) — are among the best stocks to buy and watch.

Arista Networks is IBD ranking watch list stock. Albemarle was presented in this week’s column Stocks Near a Buy Zone, along with three other top stock ideas. UnitedHealth was IBD Stock of the day in Thursday.

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Dow Jones today: Treasury yields, oil prices

After Tuesday’s open, the Dow Jones Industrial Average rose 0.4%, while the S&P 500 rose 0.1%. The tech Nasdaq Composite gained 0.2% in morning action, with Nvidia and Amgen (AMGN) leading the index.

Between exchange traded fundsthe Nasdaq 100 tracker Invesco QQQ Trust (QQQ) traded up 0.2%, and the SPDR S&P 500 ETF (A SPY) grew by 0.4%.

The 10-year Treasury yield was trading lower at 4.19% on Tuesday morning, snapping a four-day winning streak that saw the 10-year Treasury yield near its 52-week high. Meanwhile, U.S. oil prices traded down nearly 1 percent, with West Texas Intermediate futures holding just above $91 a barrel. Last week, WTI futures hit their highest point since mid-October.

Stock market rally struggles

On Monday, the Dow Jones Industrial Average rose 1.3%, while the S&P 500 gained 1%. The technology Nasdaq Composite rose 0.85%.

Monday’s big picture comments“While Monday’s steps were encouraging, the stock market still has work to do to win back investor confidence. IBD last week moved the market’s outlook to ‘uptrend under pressure’ after the nascent rally came under selling pressure.”

Now is an important time to read IBD’s The Big Picture column. After a recent selloff, investors should be more focused on playing defensively than buying breakouts.

Five Dow Jones Stocks to Buy and Watch Now

Dow Jones stocks to buy and watch: Merck, UnitedHealth

Member of Dow Jones and IBD 50 Stocks Merck remains out of scope for purchase after a double bottom base 93.12 point of purchase, According to IBD MarketSmith pattern recognition. Merck shares fell on Tuesday.

Healthcare giant UnitedHealth is trying to top a cup with a handle at 553.23 point of purchase, According to IBD MarketSmith. Shares rose 1.3% on Monday, just below their last entry. Shares of UNH were down 0.2% Tuesday morning.

4 Highest Growth Stocks to Watch in the Courserstock market rally

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

Lithium producer Albemarle is building the right side of a cup base that has a 308.34 buy point. The stock rose 0.5 percent on Monday, extending its winning streak to three sessions. ALB shares were up 1.6% early Tuesday.

IBD ranking watchlist stock Arista Networks tries to break volatile base at 132.97 point of purchase. ANET shares lost 0.4% Tuesday morning.

CF Industries is trying to find support around its 50-day moving average amid Monday’s 1% loss. The stock is building a bowl base that has a 119.70 buy point, according to IBD MarketSmith pattern recognition. Shares of CF rose 0.3% on Tuesday.

New Fortress Energy is fast approaching the 63.16 cup buy point. With shares about 6% away from new highs, watch for a handle to suggest an early entry. The energy leader reported mixed results early Tuesdaycausing a retreat of 3%.

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

Tesla stock

Tesla shares fell 5% on Monday, hitting a new 52-week low and hitting its lowest level since June 2021. The stock is more than 50% off its 52-week high and sharply below its 50- and 200- daily moving average lines.

Shares of the EV giant were down 2.8% on Tuesday morning. Tesla delivered 71,704 electric cars made in China in October, down 14 percent from September, according to the China Automobile Association.

Dow Jones Leaders: Apple, Microsoft

Between Dow Jones Stocks, Apple shares rose 0.4% on Monday, snapping a five-day losing streak. Shares rose 0.3% on Tuesday after two analyst firms maintained their buy/overweight ratings on the tech titan. But UBS cut its price target to 180, while Morgan Stanley cut its price target to 175.

Microsoft jumped another 2.9% on Monday, continuing its recovery from Friday’s 52-week low. The software giant is about 35% off its 52-week high. Microsoft shares rose 0.5% on Tuesday morning.

Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more information on growth stocks and the Dow Jones Industrial Average.


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