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Dow Jones rises ahead of Microsoft earnings; Tesla rises after warning of ‘unexpected headwinds’.

The Dow Jones Industrial Average turned higher on Tuesday, as blue chips 3M and Coca-Cola reported their quarterly results. Then the Microsoft earnings come out after the close.


The stock market today: Earnings season continues

Dow Jones stocks 3M (MMM) and Cola (KO) reported on Tuesday. General Motors (GM), Halliburton (HAL), Raytheon Technologies (RTX) and United Parcel service (UPS) is also among the key reporters on Tuesday morning.

MMM shares fell 4% after missing earnings estimates and lowering the outlook for the full year. KO stock jumped 2.4% after posting better-than-expected revenue and sales results.

GM shares rose 3.5% in early trading, while Halliburton was up nearly 2%. Raytheon fell 3% after its earnings results, while UPS shares jumped 2.5%.

Electric vehicle giant Tesla (TSLA) rose 3% Tuesday morning, while Dow Jones tech leaders apple (AAPL) and Microsoft (MSFT) was higher after today’s market opening.

AutoZone (AVOID), Cardinal health (CAH), Eli Lilly (LLY) and Texas Roadhouse (TXRH) – as well as Dow Jones stocks Merck (MRK) and UnitedHealth Group (UNH) — is among the best stocks to watch. Remember, the new stock market rally is the perfect time for investors to start their watch lists and to hone their pyramid scheme.

Young rallies, especially those battling bear markets, often fail. Pyramiding provides a method of moving into new equity positions incrementally, to minimize the risk to the capital.

Cardinal and Texas Roadhouse are IBD Leaderboard stocks. UnitedHealth was featured in this week’s Stocks Near A Buy Zone column, along with three other top stock ideas.

Dow Jones today: Treasury yields, oil prices

After Tuesday’s opening bell, the Dow Jones Industrial Average was up 0.35% after erasing early losses, while the S&P 500 rose 0.8%. The technology-heavy Nasdaq composite rose 1.4% in morning action.

Among exchange-traded funds, Nasdaq 100 tracker Invesco QQQ Trust ( QQQ ) traded up 1.2%, and the SPDR S&P 500 ETF ( SPY ) rose 0.6%.

The 10-year government yield ticked down to 4.07% on Tuesday morning. On Monday, the 10-year Treasury yield rose to 4.23%, settling at its highest level since June 2008.

Meanwhile, US oil prices rose nearly 1% on Tuesday, recovering from Monday’s small losses. West Texas Intermediate futures traded near $85 a barrel.

The stock market rally continues

On Monday, the Dow Jones Industrial Average rose 1.3% and the S&P 500 rose 1.2%. The tech-heavy Nasdaq composite climbed 0.9%.

Monday’s The Big Picture warned: “The amount of institutional-quality stocks making solid bases or breakouts is relatively small. But the opportunities are growing. On Monday, more than 20 stocks appeared on MarketSmith’s breakout list. Most, however, were unimpressive.”

Now is an important time to read IBD’s The Big Picture column. After Friday’s gains, investors want to put their curated watchlists to work, to jump on future breakouts. But not all follow-ups work, so it’s important to increase your exposure slowly and methodically as the new uptrend emerges.

Check out IBD stock lists, such as the IBD 50 and stocks near a buy zone, for stock ideas.

Five Dow Jones stocks to watch now

Dow Jones stocks to buy and watch: Merck, UnitedHealth

Dow Jones member and IBD 50 stock Merck is at the top of its buy range above the double-bottom buy point at 93.12, according to IBD MarketSmith pattern recognition, following Monday’s 1.8% advance. The 5% buy range goes up to 97.78. Earnings results for the third quarter are due Thursday before the opening bell.

Merck shares were down almost 1 percent on Tuesday morning.

UnitedHealth healthcare is approaching the buy point for a cup with a handle at 553.23, according to IBD MarketSmith pattern recognition. Shares rose 1.5% on Monday, moving closer to the stock’s last close. UNH shares fell 0.5% on Tuesday morning.

4 top growth stocks to watch right nowra stock market rally

Top Stocks to Buy and Watch: AutoZone, Cardinal, Eli Lilly, Texas Roadhouse

Auto parts leader and recent IBD Stock Of The Day AutoZone breaks out past a cupbase’s 2,362.34 buy point, riding 4.6% higher Monday. The 5% hunting zone goes up to 2,480.46. AutoZone shares rose 0.3 percent on Tuesday.

IBD Leaderboard stock Cardinal Health is in buy territory past a short cup handle at 71.22, according to IBD MarketSmith chart analysis. Shares are also breaking out past a flat base buy point of 72.38. Earnings are estimated for 4 November. CAH shares were down 0.9% early Tuesday.

IBD SwingTrader stock Eli Lilly closed further in buy territory past a flat base buy point of 335.43, climbing 2.1% on Monday. The stock fell 0.6 percent on Tuesday morning.

Texas Roadhouse is trying to regain a flat base of 95.52 buy points after a brief breakout move last week. The shares ended Monday just above the entry. The earnings are posted on Thursday. The stock rose 0.1 percent on Tuesday.

Join IBD experts as they analyze leading stocks in the current stock market rally on IBD Live

Tesla stock: Price target lowered

Tesla shares plunged as much as 7.4% on Monday before paring losses to 1.5%. The early loss came as stocks with heavy exposure to Chinese markets took a beating, and after Tesla’s expected price cut of as much as 9% for its Model 3 and Model Y cars sold in China. Shares hit their lowest level since June 2021. The stock closed about 49% off its 52-week high.

Shares in the EV giant rose 3% on Tuesday morning, even as Berenberg Bank and Morgan Stanley lowered their price targets. Morgan Stanley analyst Adam Jonas lowered the company’s price target on Tesla from 350 to 330, while maintaining an overweight rating. Jonas warned of “unexpected headwinds” into the fourth quarter and 2023.

Dow Jones Leaders: Apple, Microsoft

Among the Dow Jones stocks, Apple shares rose 1.5% on Monday and are about 19% off their 52-week high. Despite a recent rally, the stock is holding below its 50- and 200-day lines. Apple earnings are Thursday after the close. AAPL shares rose 0.6 percent on Tuesday morning.

Microsoft rose 2.1% on Monday, rising for the second day in a row. Shares are still in rebound mode after hitting a 52-week low on October 13. The software giant is still around 30% off its 52-week high. Shares rose 0.2 percent on Tuesday.

Microsoft revenue is due after closing. The company is expected to earn $2.31 per share on sales of $49.6 billion.

Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones Industrial Average.


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