On Tuesday, the Dow Jones Industrial Average fell as key housing data was released, while Coinbase (COIN) saw a surge in stock prices due to a rise in bitcoin prices.
The Dow lost 0.3%, while the S&P 500 rose slightly. The Nasdaq composite went up 0.2% after the market opened. Exchange-traded funds like the Invesco QQQ Trust (QQQ) and the SPDR S&P 500 ETF (SPY) also saw minor gains. Oil prices remained steady near $78 a barrel.
Cryptocurrency exchange Coinbase saw a 5% increase in its stock price as bitcoin prices rose by 11% in the last 24 hours. Bitcoin was trading at around $57,000.
Housing data reports were released in the morning, showing an increase in both the Case-Shiller home price index and the Federal Housing Finance Agency house price index. Earnings movers included Trex (TREX), Unity Software (U), Workday (WDAY), and Zoom Video Communications (ZM).
Stocks like Trex and Unity saw decreases, while Zoom experienced a 7.4% increase. Home improvement company Lowe’s (LOW) gained 1.3% in morning trading.
Disney, Procter & Gamble, and Dow were among the top stocks to watch. Disney and Weatherford were featured in the “Stocks Near A Buy Zone” column. Disney’s stock was up 0.4%, while Procter & Gamble fell 0.6% and Dow saw a 0.7% increase.
Stocks like Birkenstock, Lennar, Toll Brothers, and SharkNinja were also performing well in the stock market rally. Birkenstock was trying to break out past a 51.09 buy point, while Toll Brothers rallied 0.6% early Tuesday.
Nvidia and Tesla were also in focus, with Nvidia dropping 0.8% and Tesla climbing 1.8% on Tuesday. Apple and Microsoft, part of the Dow Jones leaders, saw some fluctuations in their stock prices. Apple is forming a base with a buy point at 199.62, while Microsoft remains out of buy range.
