Dow Jones futures and other major stock indexes fell on Tuesday amid the morning release of the housing report and consumer confidence data. Kava Group (Kava) shares plummeted after its CEO and other executives announced they were selling shares.
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Dow Jones hits all-time high; Sprouts, Netflix, and MercadoLibre in the spotlight
As of early trading, Dow Jones futures were down 0.2% by market capitalization, while S&P 500 futures were down 0.4%. Futures for the tech-heavy Nasdaq 100 index also fell 0.5% in early trading.
The yield on the 10-year Treasury rose to 3.86% early Tuesday. Oil prices took a breather after a recent rally, with West Texas Intermediate oil futures dropping to near $76.75 a barrel.
Among exchange-traded funds, Invesco QQQ Trust (Hehehe) fell 0.5%, while the SPDR S&P 500 ETF (spy) was down 0.4% in early trading.
Kava's shares plunged nearly 9% on Tuesday morning after CEO Brent Schulman sold 210,504 shares for $24.87 million, according to a Securities and Exchange Commission filing made public Monday night. Other key executives and directors also sold some shares.
Step aside Tesla. This stock needs your Mag 7 card.
Stock Market Today
Two housing indexes were released early Tuesday morning: the Case-Shiller Home Price Index and the Federal Housing Finance Agency (FHFA) Home Price Index. Later in the morning, the Conference Board's Consumer Sentiment Index is scheduled to be released at 10 a.m. ET.
The Case-Shiller Index rose 0.4% in June, bringing its year-over-year increase to 6.5%. Econoday estimates that the index is expected to rise 0.2% month-over-month, slowing from May's 0.3% increase. Meanwhile, the FHFA Home Price Index fell 0.1% in June, bringing its year-over-year increase to 5.1%.
Finally, the consumer confidence index for August is expected to fall to 100.1 from 100.3 in July.
Tuesday morning earnings fluctuations Trip.com (TCOMThe company's strong performance sent its shares soaring more than 9%.
Tesla is defeated, NVIDIA beats Apple and Microsoft
The Dow Jones Industrial Average hits a new record high
On Monday, the Dow Jones Industrial Average rose 0.2% to a record high, while the S&P 500 lost 0.3%. The tech-heavy Nasdaq Composite Index fell nearly 0.9%.
During Monday's IBD Live showThe IBD Live team discussed current trading conditions and how investors should approach the stock market today.
As market action continues, now is an important time to read “The Big Picture” column, and be sure to read about how IBD's new exposure levels can help you adapt to changing market conditions.
NVIDIA and Microsoft Team Up, Both Mag 7 Stocks Take Targets at Apple
Stock Market Today: Best Stocks to Watch
Companies to watch in the stock market today include: Birkenstock (Birk), Meta Platform (Meta), Netflix (NFLX) and Shake Shack (Shack).
The list also includes stocks that make up the Dow Jones. Amazon (Amazon), apple (AAPL), Home Depot (High resolution), IBM (IBM) and Microsoft (MSFT).
This “Stocks Near Buy Zone” column features Home Depot and Meta.
There were two new strains IBD Market Surgewas featured on the “Breaking Out Today” list on Monday. Shift4 Payments (4) rose above a cup-with-handle buy point of 83.64 before turning lower. Shares were down 1.4% in premarket trading on Tuesday.
Additionally, the site offers several stock investment ideas. “Near Pivot” ListHere are some top stocks approaching new buy points: Transdigm (TDGTransDigm shares were trading slightly lower on Tuesday morning, nearing the cup base entry price of 1,369.58.
To find more stock ideas, check out the IBD Stock List. IBD50, Big Cap 20 Stocks near the buy zone.
Get real-time buy and sell alerts for stock market leaders with IBD Leaderboard
Dow Jones: Home Depot, IBM
Among Dow Jones components, Home Depot is just below a buy point at 375.74. MarketSurge Pattern RecognitionShares were down 0.4% on Tuesday morning.
Meanwhile, IBM rose above a buy point at 196.26 at its latest entry. IBM shares were down slightly on Tuesday.
Outside the Dow Jones index, Birkenstock is at a flat-base buy point at 61.83 after a sharp rally last week. Shares were up 1.3% as of early Tuesday morning.
Streaming giant Netflix is trading below a late-stage cup-base buy point of 697.49. Netflix shares were up 0.3% in premarket trading on Tuesday.
And Shake Shack is back on track, having recently topped the 105.68 cup-to-handle price gap. Shares were down 0.6% early Tuesday.
Find the best stocks to buy and watch with IBD Stock Screener and IBD Screen of the Day
Stock Market Today: Companies to Watch
These are four stocks that are in or near the buy zone on the stock market today.
| Company Name | symbol | The right purchase point | Types of purchase points |
|---|---|---|---|
| Ferrari | (Race) | 442.80 | Flat Base |
| Shake Shack | (Shack) | 111.29 | Cup Base |
| Service Now | (now) | 806.52 | Handle Entry |
| Birkenstock | (Birk) | 61.83 | Flat Base |
Source: IBD data as of August 27th
Watch IBD Live as IBD experts break down the biggest names on the stock market today.
7 Great Stocks: Meta, Nvidia, Tesla
Among the Magnificent Seven stocks, Meta Platform is NVIDIA (NVDA) and Tesla (TSLA) fell in premarket trading.
Meta shares attempted a breakout above a 542.81 buy point last week but fell just short of the entry. In pre-market trading on Tuesday, Meta fell further below the buy point, resulting in a loss of 0.6%.
Nvidia shares fell more than 1% in premarket trading Tuesday, forming a cup base at 140.76, an official buy point. Early entry is looming at the July 11 high of 136.15. The company's earnings report is due later Wednesday. Wall Street expects the artificial intelligence giant to earn 65 cents a share on sales of $28.7 billion, according to FactSet.
Shares of electric vehicle giant Tesla Inc. fell 3.2% on Monday after the stock closed below its 50-day moving average. The stock was down 0.4% in premarket trading on Tuesday.
Nvidia stock is facing two tests this week, and investors are facing a third.
Dow Jones Leaders: Amazon, Apple, Microsoft
Among the Dow Jones “Magnificent Seven” stocks, shares of Amazon, Apple and Microsoft fell before the stock market opened on Tuesday.
Amazon shares decisively recovered above its long-term 200-day moving average on August 15, but are still below its 50-day moving average, a key level to watch. The stock was down 0.6% on Tuesday morning.
Apple shares have reclaimed their 50-day line in recent weeks and are building to the right of a new base. Apple was down 0.7% on Tuesday.
Microsoft shares continue to trade below their 50-day moving average as a new base is formed, and shares were down 0.4% on Tuesday morning.
Follow Scott Lehtonen on X Translator Learn more about growth stocks, the Dow Jones Industrial Average and today's stock market here.
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