The equity market saw mixed trading on Tuesday, with the Dow Jones Industrial Average making modest gains as third-quarter earnings season began in earnest. Two key players in early trading were Goldman Sachs (GS) and UnitedHealth (UNH), both Dow components.
Before the opening bell, Dow Jones futures saw a slight uptick, while S&P 500 futures dipped. Meanwhile, Nasdaq 100 futures were down 0.1% early in the trading day. The 10-year Treasury yield rose to 4.08%, while oil prices fell with West Texas Intermediate futures trading around $70.70 per barrel.
Goldman Sachs surged over 3% premarket after surpassing earnings and sales projections. Conversely, UnitedHealth stock took a hit, dropping 3.4% despite meeting third-quarter targets. Other notable movers included Bank of America (BAC), Citigroup (C), Charles Schwab (SCHW), and Johnson & Johnson (JNJ) in early trading.
Tech stocks like Nvidia, Apple, and Tesla were in focus as the market continued to show strength, with key indices hitting new highs. Amid the current trading conditions, investors are advised to stay vigilant and agile in navigating the market rally.
Among the stocks worth watching are Ryan Specialty (RYAN), Texas Roadhouse (TXRH), Toast (TOST), Uber Technologies (UBER), Amazon.com (AMZN), Apple (AAPL), JPMorgan Chase (JPM), and Microsoft (MSFT). Additionally, there are new stock opportunities emerging, as highlighted in IBD MarketSurge’s lists like “Breaking Out Today” and “Near Pivot.”
Overall, it’s essential for investors to remain informed about market trends, stay updated on stock movements, and make well-informed decisions in this dynamic trading environment. Stay connected with experts and leverage tools like IBD’s stock screener to identify potential opportunities and manage risk effectively.
