The Dow Jones industrial average traded lower in the afternoon after reversing early gains as Tilray shares soared to 58%. Tesla slipped by 5%. General Motors is tumbling after a warning for a shortage of chips, while Twitter is rising sharply with earnings. Nvidia is breaking out today.
X
Among the Dow Jones leaders, appeal (AAPL) decreased by 0.6%, while Microsoft (MSFT) has fallen by 1% in today’s stock market. Disney (DIS) is in the buying range after the outbreak of Monday, while Nike (NKE) is approaching a new buying point after last week’s strong move.
Tesla (TSLA) threatened to extend the 1.6% loss on Tuesday and drop more than 4% in the afternoon trade. Tesla stock is nearing a new high.
General Motors (GM), Dow Jones Member Coca-Cola (KO) and Twitter (TWTR) reported earnings before the open stock market.
Palo Alto Networks (PANW) and Nvidia (NVDA) is one of the leading stocks in or near the buying zones in the action on Wednesday.
Apple, Microsoft and Tesla are IBD Leaderboard shares. Nvidia was the IBD Stock Of The Day, while Palo Alto Networks was the IBD 50 Stocks To Watch choice on Tuesday. Meanwhile, Nike was seen in the Stocks Near A Buy Zone.
Dow Jones Today
On Wednesday, the Dow Jones Industrial Average fell less than 0.1%, while the S&P 500 fell 0.2%. The technology-heavy Nasdaq composition fell 0.25% in afternoon trading, despite reducing losses.
US stock market overview today |
||||
|---|---|---|---|---|
| Index | Symbol | Price | Profit / loss | % Change |
| Dow jones | (0DJIA) | 31370.44 | -5.39 | -0.02 |
| S&P 500 | (0S & P5) | 3904.49 | -6.74 | -0.17 |
| Nasdaq | (0NDQC) | 13953.26 | -54.44 | -0.39 |
| Russell 2000 | (IWM) | 227.55 | -0.83 | -0.36 |
| IBD 50 | (FFTY) | 47.89 | -0.24 | -0.50 |
Last updated: 11:46 ET 20/10/2021 |
||||
Among exchange-traded funds, Innovator IBD 50 (FFTY) fell 0.1% on Wednesday. The Nasdaq 100 tracker Invesco QQQ Trust ETF (QQQ) fell 0.5%. Meanwhile, the SPDR S&P 500 ETF (SPY) fell 0.25%.
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Are stock market rallies overheated?
Looking back at the current rise, November was an important month for the stock market. IBD’s The Big Picture led the new uptrend after the bullish follow – up day of the market on 4 November. Meanwhile, the Dow Dow Industrial, Nasdaq and S&P 500 have meanwhile reached a record high. But is the stock market overheated?
In Tuesday’s Big Picture, it said: “The Nasdaq composite claimed a technical milestone on Tuesday, gaining 0.1% over and above three consecutive days of profit, closing above 14,000 for the first time. But overall the market has shown a light, mixed performance. “
Due to the recent strength, investors may return to a breach, with the understanding that there are still good reasons for caution. Look for stocks breaking out above new buying points, such as Disney, Dropbox and Nvidia.
Focus on stocks that have shown strong relative strength during the recent weakness. They can be some of the leaders of the market if the indices are able to continue their record methods.
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Dow Jones shares: Disney, Nike
Dow Jones shares at Disney broke out on Monday and, according to the IBD MarketSmith chart analysis, passed a buying point of 183.50 in a flat base. The buying area of 5% rises to 192.68. Disney shares fell 1% on Wednesday and are about 4% above the listing.
Disney will report its earnings after Thursday.
Elsewhere in the Dow 30, Nike follows a new flat base with a buying point of 148.05. The stock fell 0.4% on Wednesday afternoon, at a rate of a two-day loss.
Nike has regained its 50-day moving average line strong in recent sessions.
Dow Jones earnings: Coca-Cola
Dow Jones stock Coca-Cola reported mixed results early Wednesday, beating earnings targets but missing revenue estimates. Shares rose less than 1% in response.
The stock follows a flat base with a buy point of 55.03 but remains below the 50-day line.
Tilray Stock
Tilray (TLRY) soared by as much as 58% on Wednesday morning before rising to 25% in the afternoon, increasing Tuesday by almost 41%. Shares are up more than 400% from a buy point of 12.25 in a cup base.
This week, Tilray reached an agreement with Grow Pharma to import and distribute Tilray’s medical cannabis products in the UK, which will be available to patients by March. Patients can be prescribed via the National Health Service or private practice.
Stock market earnings: GM, Twitter
General Motors slipped nearly 4% on Wednesday despite strong Q4 earnings and sales results ahead of the stock market. The company warned that a global shortage of chips would affect profits.
GM share is up about 19% from a 46.81 buyout in a cup base after an outbreak on January 12th.
Twitter share rose 7% after beating Street’s Q4 targets late Tuesday.
Shares broke above a buy point of 56.21 in a recent session and have already been extended after the subscription.
Shares to watch: Palo Alto, Nvidia
Tuesday’s IBD 50 Stocks To Watch selection, Palo Alto Networks, is at a buying distance of more than 375.10 points in a flat base. The stock rose 0.8% on Wednesday afternoon and was almost extended.
The IBD 50 share is expected to report its fiscal earnings in the second quarter of 2021 on February 22, after the market closes.
According to IBD Stock Checkup, Palo Alto shares boast a 96 out of a perfect 99 IBD Composite Rating. The compound valuation – an easy way to identify top-growth stocks – is a mix of key fundamental and technical measures to help investors determine the strengths of a stock.
IBD Leaderboard shares Nvidia breaks above a buy point of 587.76 from a flat base amid a 3.1% rise. Shares are within the buy price above the buy point and are higher than an early entry at 560.07. Investors can start with a small position at this alternative buying point and add more shares to the regular entry.
According to Leaderboard’s comments, “Nvidia cleared an alternative entry of its highs in January. The stock is still operating on a flat basis. Nvidia was cut to a quarter position on January 27 and rose to half a position on Monday.”
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Tesla Stock
Tesla shares threatened to contribute to Tuesday’s losses and fall more than 4% on Wednesday afternoon. Shares are just 4% away from overall highs.
The January 8 IBD Stock Of The Day column indicated that Tesla has flashed several signs of a highs-top amid a sharp vertical run over the past few weeks. The stock has shown tremendous resilience so far after reaching a record high last week.
On January 25, Tesla shares reached a record high of 900.40. Shares are about 83% above a 466 buy in a handle with handle amid Monday’s action.
Dow Jones Leaders: Apple, Microsoft
Among the top Dow Jones shares, Apple fell 0.6% on Wednesday and remains below its 138.89 buy point in a handle with a handle. Shares resigned on January 28.
Meanwhile, Microsoft fell 1% on Wednesday afternoon, with a fast-paced three-day series. Shares of the software giant have broken out to a 232.96 buy point in recent sessions. The stock is at the top of the 5% buying zone rising to 244.61.
Follow Scott Lehtonen on Twitter @IBD_SLehtonen for more information on growth stocks and the Dow Jones industrial average.
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