Stock Market Today: Indexes Tumble As Tesla Rises And Nvidia Falls

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Fed and Powell’s Influence on Dow Jones Futures; MicroStrategy, Bitcoin Leader, Declines in Earnings

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The futures for the Dow Jones, S&P 500, and Nasdaq 100 were stable before the stock market opened on Tuesday. Investors are paying close attention to the Federal Reserve’s two-day policy meeting scheduled for this week.

After-hours earnings reports for Lattice Semiconductor, MicroStrategy, and NXP Semiconductor were released late Monday. Lattice shares decreased by almost 4%, MicroStrategy’s stock fell by 4% but had a previous dive of 6%, and NXP stock increased by 4.2% in extended trading.

This week, investors are keeping an eye on key economic reports, such as the consumer confidence reading on Tuesday, the ADP employment report on Wednesday, and the April jobs report on Friday which is expected to show a decrease in new jobs added compared to the previous month.

In Monday’s stock market, the Dow Jones increased by 0.4%, the S&P 500 climbed by 0.3%, and the Nasdaq composite gained 0.4%. Tesla was the standout performer, rising by over 15%, while Apple and Microsoft had mixed results.

With the upcoming stock market session, futures remained relatively unchanged compared to fair value. The 10-year U.S. Treasury yield decreased to 4.6%, and oil prices dipped, settling around $82.70 a barrel.

Key things to consider now include monitoring The Big Picture column of IBD for an updated exposure level following recent market gains, assessing signals from IBD MarketSurge, and watching out for stocks like American Express, Chipotle, Texas Roadhouse, and Tradeweb Markets, which are either in or near buy zones.

Nvidia stock inched higher above its 50-day line, while Apple and Microsoft of the Dow Jones stocks showed mixed trading trends on Monday. Apple stock rallied after an upgrade, while Microsoft shares slipped.

By closely following market insights and trends, investors can make informed decisions about their portfolios.

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