On Tuesday, the Dow Jones futures and other major stock indexes saw a decline, with the market eagerly awaiting reports on manufacturing and construction activity. Boeing and Tesla were notable movers in the stock market today.
As the day began, Dow Jones futures were 0.6% lower than fair value, with S&P 500 futures and Nasdaq 100 futures also showing declines. The 10-year Treasury yield dipped to 3.86%, while oil prices saw a drop with West Texas Intermediate futures trading around $71.80 per barrel.
Notably, Boeing experienced a significant tumble of over 4% after Wells Fargo downgraded the stock. Conversely, Tesla saw a 0.9% increase following strong sales in China during August.
Market watchers are looking forward to key economic data on manufacturing and construction spending, with reports expected later in the day. Additionally, the U.S. Labor Department’s employment report scheduled for Friday is highly anticipated. The report is predicted to show an increase of 160,000 jobs in August.
Stocks like Arista Networks, Costco Wholesale, Meta Platforms, and Netflix are among the companies to watch today. Meanwhile, Dow Jones components Amazon, Apple, Home Depot, IBM, and Microsoft are also on investors’ radar.
As for Dow Jones leaders, Home Depot and IBM are showing signs of movement, with Home Depot approaching a buy point and IBM already in buy range. Additionally, Arista Networks and Costco are making strides, while Netflix is hovering near a buy point.
In premarket trading, Meta Platforms, Nvidia, and Alphabet were on a downward trend. Similarly, Amazon, Apple, and Microsoft, among Dow Jones components, were modestly lower.
Staying updated on market trends, growth stocks, and potential buy points is crucial for investors looking to navigate the stock market effectively. As the market continues to evolve, be sure to follow experts for insights and analysis on the latest movements.
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