The Dow Jones Industrial Average and other major indexes traded mixed in morning action Tuesday as artificial intelligence giant Oracle (ORCL) plunged on its earnings report. Another important AI name to watch is Nvidia (NVDA), which is teetering on a key support level. Meanwhile, investors awaited critical inflation data later in the week.
After the opening bell, the Dow Jones Industrial Average fell 0.4%, while the S&P 500 edged lower. The tech-heavy Nasdaq composite gained 0.5% in morning trades.
↑ XEarly Tuesday, 10-year Treasury yield ticked higher to 4.23%. Oil prices were up, as West Texas Intermediate futures traded around $68.40 per barrel.
Among exchange traded funds, the Invesco QQQ Trust (QQQ) rose 0.5%, while the SPDR S&P 500 ETF (SPY) edged down 0.1% after the open.
Nvidia stock climbed 1.6% Tuesday morning. The stock sold off 2.6% Monday, closing right at the 10-week moving average line, a critical level to watch.
A sharp rebound would place Nvidia stock in a new buy zone, while a decisive close below that level would be a sell signal.
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Oracle tumbled 9% in morning trading after the company missed earnings and sales estimates late Monday. Oracle shares opened at their 50-day line.
Other key earnings movers include AutoZone (AZO), C3.ai (AI), MongoDB (MDB) and Ollie's Bargain Outlet (OLLI).
AutoZone stock inched higher, while shares of C3.ai plunged more than 13%. MongoDB stock tumbled 10% in early trading. Ollie's stock jumped more than 10% after the bell.
Inflation reports take centerstage this week, with Wednesday's expected consumer price index and Thursday's producer price index. These offer a preview of the core personal consumption expenditures — or PCE — price index, due on Dec. 20. That index is seen as the Fed's primary inflation gauge.
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On Monday, the Dow Jones Industrial Average declined 0.5%, while the S&P 500 and Nasdaq both dropped 0.6%.
Among the best companies to watch on the stock market today are Broadcom (AVGO), BlackRock (BLK), Embraer (ERJ) and Trip.com (TCOM).
Dow Jones components making notable moves were Amazon.com (AMZN), Apple (AAPL), Microsoft (MSFT) and Travelers (TRV).
Travelers was featured in this Stocks Near A Buy Zone column.
Check out IBD MarketSurge's "Breaking Out Today" list for top growth stocks that are moving above correct buy points. Check for potential breakouts on the "Near Pivot" list. To find additional stock ideas, check IBD Stock Lists like IBD 50, Big Cap 20 and Stocks Near A Buy Zone.
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Dow Jones leader Travelers is just below a 269.05 buy point in a cup-with-handle base, according to MarketSurge pattern recognition. Shares fell 0.4% Tuesday.
Outside the Dow Jones index, AI giant Broadcom is approaching a 185.05 double-bottom entry after Monday's bullish move. Broadcom stock moved down 2.5% early Tuesday.
BlackRock is rapidly approaching a 1,068.34 buy point in a four-weeks-tight pattern. BlackRock stock moved up 0.1% in early trading.
Embraer is in buy range above a 37.30 flat-base entry after a three-day win streak. Shares dropped 1% Tuesday morning.
Trip.com shares soared 8.7% Monday, staging a breakaway gap past a 69.67 buy point. During a breakaway gap, investors can use the high price of the first five-minute bar as a reasonable entry. For Trip.com, that places the buy point at 76.75. The Chinese travel stock dropped more than 3% Tuesday morning.
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These are four stocks in or near buy zones in today's stock market, including a Dow Jones leader.
| Company Name | Symbol | Correct Buy Point | Type Of Buy Point |
|---|---|---|---|
| Tradeweb | (TW) | 136.13 | Flat base |
| Sherwin-Williams | (SHW) | 392.57 | Flat base |
| Broadcom | (AVGO) | 185.05 | Double bottom |
| TJX | (TJX) | 121.13 | Flat base |
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Electric-vehicle giant Tesla (TSLA) rallied 3% Tuesday, on pace to extend a win streak to four sessions.
Tesla stock topped out Monday at 404.80, its highest price since November 2021 when Tesla stock traded as high as 414.50.
Among Dow Jones components in the Magnificent Seven, Amazon stock has rallied sharply in recent sessions, decisively retaking a 201.20 buy point and hitting new highs. It was slightly lower in morning trading Tuesday.
Shares of Apple are in buy range above a flat base's 237.49 entry as they hit new highs this week. The stock was down 0.2% Tuesday morning.
Microsoft shares rose 0.2% Tuesday morning. The stock closed Monday at its highest level since late July.
Be sure to follow Scott Lehtonen on X at @IBD_SLehtonen for more on growth stocks, the Dow Jones Industrial Average and the stock market today.
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