The Dow Jones Industrial Average sold 360 points Monday morning, extending Friday’s sharp stock market loss. The Twitter share rose after news reports said that the company and Tesla CEO Elon Musk are close to entering into an agreement. And the Dow Jones stock Coca-Cola was a major earnings move Monday morning.
Twitter (TWTR) jumped 4% after Friday’s increase of 3.9%. Bloomberg reported that an agreement could be finalized as early as Monday. Electric vehicle giant Tesla (TSLA) slipped 3% Monday morning.
Among the Dow Jones executives, apple (AAPL) and Microsoft (MSFT) were both down around 1% in today’s stock market.
In the midst of a new stock market correction, Dow Jones is leading American Express (AXP) – along with IBD Leaderboard Storage LPL Financial (LPLA), Expedia (EXPE), Raytheon technologies (RTX) and Shell (SHEL) – is among Monday’s best stocks to see.
Microsoft and Tesla are IBD Leaderboard shares. Caterpillar and Edwards Lifesciences were featured in this week’s columns for stocks close to a buyout zone. And Expedia was Thursday’s IBD Stock Of The Day.
Dow Jones today: Treasury interest rates, oil prices
After Monday’s opening, the Dow Jones Industrial Average fell 1%, while the S&P 500 fell 1.1%. Nasdaq reduced its losses to 0.5% in morning trading.
Among exchange-traded funds, the Nasdaq 100 tracking Invesco QQQ Trust (QQQ) lost 0.7%. The SPDR S&P 500 ETF (SPY) was down 0.75%.
The 10-year government interest rate fell to 2.81% on Monday after closing at 2.91% on Friday. Last week, the 10-year government interest rate reached its highest level since December 2018. Meanwhile, oil prices in the US fell almost 5%, as Texas Intermediate oil traded just over $ 97 per barrel.
New stock market correction
On Friday, the stock market ended sharply, when the large stock indices sold out with large losses.
Friday’s The Big Picture column commented: “After being rejected on its 200-day moving average on Thursday, the S&P 500 plunged 2.8%, taking out Monday’s lowest level. weak action was enough to change IBD’s market outlook into a market correction. “
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Five Dow Jones shares to see now
Dow Jones revenue: Coca-Cola
Dow Jones action Coca Cola (KO) reported better than expected results for the first quarter Monday morning, stocks climbed 2.6% in trading early in the morning.
The KO shares ended on Friday about 13% above a buy point of 57.66 in a flat base.
Dow Jones shares to buy and see: American Express
The Dow Jones financial stock American Express ended Friday about 7% away from a cup with traded 194.45 buy points after the company’s first quarter result. AXP shares fell 0.8 percent Monday morning.
Four top growth stocks to see in timerent stock market correction
Shares to look at: LPL, Expedia, Raytheon, Shell
The IBD Leaderboard stock LPL Financial is still above a 191.08 buy point in a cup with a handle, but double-digit gains faded over a three-day losing streak. On April 21, the stock climbed as much as 15.5% above the entry level, meaning the stock is close to triggering the round-trip rule, according to IBD MarketSmith’s chart analysis. LPLA shares fell 1% Monday morning.
Thursday’s IBD Stock Of The Day, Expedia, builds a cup with handles with a buy point of 204.08. Stocks are trying to regain their 50-day line, but have some issues at the central resistance level. The EXPE stock shows a 90 of a perfect 99 IBD Composite Rating, according to the IBD Stock Checkup. Expedia shares fell 0.4% early Monday.
Defense contractor Raytheon Technologies gave up a flat base 104.44 buy points after heavy losses last week. The RTX stock fell more than 1% on Monday morning. Raytheon reports earnings April 26.
Oil and gas producer Shell fell below a flat base buying point of 56.23 after Friday’s fall of 2.15%. SHEL shares fell more than 3% on Monday morning.
Join IBD experts as they analyze leading stocks in the current stock market correction on IBD Live
Tesla shares fell 3% on Monday morning, threatening to increase Friday’s decline of 0.4%.
The shares in the EV giant ended on Friday about 13% away from a cup-with-handle buy point of 1,152.97. The stock traded as high as 1,243.49 on November 4 and is approximately 19% away from the record high time.
Dow Jones executives: Apple, Microsoft
Among Dow Jones shares, Apple shares have triggered the 7% -8% loss reduction rule from a buy point of 176.75 in a double-bottom base in recent weeks. Apple stock fell further below its 50-day line on Friday and may be about to set up for a test of the long-term 200-day line. The stock fell 1 percent Monday morning.
Software leader Microsoft sold 2.4% on Friday, further below its 50- and 200-day lines. The stock is more than 20% of its 52-week high. MSFT shares fell 0.8% early Monday.
Apple and Microsoft report revenue this week.
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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