The Dow Jones Industrial Average and other major indexes rose on Tuesday, as stocks appeared to rebound from Monday's losses. Celebrity investor Cathie Wood bought more than $28 million worth Tesla (TSLA). Former President Donald Trump's social media platform, Truth Social, rose 50% in its stock market debut today.
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The Dow Jones Industrial Average rose 0.1% in morning trading, while the S&P 500 rose 0.3%. The Nasdaq Composite Index, which is dominated by technology stocks, rose 0.5% after the opening bell.
The yield on 10-year Treasury bonds rose to 4.26%. Furthermore, oil prices rose, with WTI futures adding 0.4% to trade above $82 per barrel.
Among the US exchange-traded funds is the Nasdaq 100 Tracker Invesco QQQ Trust ETF (QQQ) by 0.3%, while the SPDR S&P 500 ETF rose (spy) by 0.3%.
Stock Market Today: Cathie Wood Buys Tesla and Trump Debuts
Magnificent Seven Nvidia stock rose 0.2% in Tuesday morning trading, looking to extend its winning streak to seven sessions and move closer to new highs. Nvidia is an IBD Leaderboard stock.
Cathie Wood's Ark Invest funds bought more than 163,000 shares of Tesla stock on Monday, or about $28.2 million worth using the closing price, according to daily trading disclosures. Tesla stock snapped a two-day slide on Monday, but is still more than 40% below its 52-week high.
Tesla shares rose more than 5% on Tuesday afterward CEO Elon Musk tweeted Full Self Driving, Tesla's self-driving software, will be offered to customers as a free one-month trial.
Elsewhere, the digital world is now taking over Trump Media and Technology Group (DJT) after Digital World was successfully integrated with Trump's technology and social media platform.
The common stock and common warrants began trading on Nasdaq on Tuesday under the symbols “DJT” and “DJTWW,” respectively. Shares of Trump Media under the symbol DJT rose 50% in morning trading Tuesday.
Be sure to read about how to adapt to changing market conditions, with IBD's new exposure levels.
Dow Jones Falls
On Monday, the Dow Jones Industrial Average fell 0.4%, and the S&P 500 fell 0.3%. The Nasdaq Composite Index, which is dominated by technology stocks, lost 0.3%.
“The S&P has risen 9.4% year to date, posting its best first-quarter performance since 2019,” commented his Big Picture column on Monday, “Whenever it rises by at least 8% in the first quarter, the S&P 500 averages “Profit of 9.7% for the first quarter of the year.” the rest of the year, according to Dow Jones Market Data. Going back to 1950, it also ended the year higher 94% of the time.
Now is an important time to read IBD's “Big Picture” column amid the ongoing stock market rally. Be sure to read about how to adapt to changing market conditions, with IBD's new exposure levels.
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Top stocks to watch in today's stock market
the alphabet (Google), Arista Networks (network), Duolingo (Ragdoll) And Kings Project (DKNG) – in addition to the components of the Dow Jones Index Disney (Dis), IBM (IBM) And Verizon Communications (VZ) – is among the best stocks to watch in the stock market today.
Google and DraftKings are displayed in the stock column near the buy zone.
An essential resource for your daily escape IBD MarketSurge Check out today list. He appears Market growth 250 Stocks breaking through new buy points. There was one hack on Monday: Allstat (everyone). Shares topped a 168.95 entry from the cup base. Shares rose in early trading Tuesday.
Meanwhile, MarketSurge's “Near Pivot” list shows stocks that are approaching buy points in the bases.
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Dow Jones: Disney, IBM, Verizon
Disney has surpassed a significant cup-with-handle base buy point of 112.92 in recent weeks, according to IBD MarketSurge chart analysis. Shares closed outside the buy range, up 3%. Shares rose 0.3% Tuesday morning.
IBM stock remains below its steady buy point of 196.90, with a 1.1% decline on Monday. Shares rose 0.2% in morning trading on Tuesday.
Telecom giant Verizon is building a flat base entering 43.21, as the stock struggles to find support at its key 50-day moving average. Verizon shares were flat on Tuesday.
4 Higher Growth Stocks to Watch in Stock market pool
Stock Market Today: Google is close to a breakout
Alphabet, Google's parent company, is quickly approaching a consolidated buy point of 153.78, even as the stock fell 0.5% on Monday. Google shares rose 0.3% on Tuesday.
Arista shares fell 0.3% on Monday, in a buy range above a flat 292.66 buy point, according to Marketsorg Graphs. Arista stock was down 0.7% early Tuesday.
IPO leader Duolingo is trying to break above the cup-with-handle entry level of 241.86, but is about 6% below the buy level after Monday's 2.4% drop. More losses would trigger the 7% sell rule. The stock rose modestly Tuesday morning.
Finally, DraftKings holds at the top of its buying range above the 46.52 buy point in a short consolidation, with a 0.3% gain on Monday. On Tuesday morning, the sports betting giant's stock rose 3.3%.
Stocks to watch
These are four stocks that are in or near buy zones in the stock market today.
| Company Name | Code | Correct point of purchase | Point of purchase type |
|---|---|---|---|
| Disney | (Dis) | 112.92 | Cup with handle |
| Arista Networks | (network) | 292.66 | Flat base |
| Kings Project | (DKNG) | 45.62 | Merger |
| Duolingo | (Ragdoll) | 241.86 | Cup with handle |
Source: IBD data as of March 25, 2024
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Dow Jones leaders: Apple, Microsoft
Among the Dow Jones stocks in Magnificent Seven, apple (Camel) And Microsoft (MSFT) traded mixed after the stock market opened on Tuesday.
Apple stock fell 0.8% on Monday, approaching its recent lows. Shares remain sharply below their long-term 200-day line. Apple shares fell 0.5% on Tuesday morning.
Microsoft shares have found support at the 50-day line in recent weeks, sending them to new highs. The stock rose 0.3% early Tuesday.
Be sure to follow Scott Lehtonen on X, formerly known as Twitter, at @IBD_SLehtonen To learn more about growth stocks, the Dow Jones Industrial Average, and today's stock market.
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