Stocks mixed as Tesla jumped in Elon Musk’s Twitter poll

The Dow Jones Industrial Average fell on Monday, as major stock indexes continued to fall after heavy losses incurred last week. Tesla stock rebounded on Monday, as CEO Elon Musk’s poll on Twitter showed most users wanted him to “step down as chairman of Twitter.”


This week’s earnings reports include: general mills (GIS), Hey there (it’s me), micron technology (MU) and Dow Jones stock Nike (the).

electric car giant Tesla (TSLA) stock was trading up 2% Monday morning, on track to rebound from a 52-week low on Friday. Technology pioneers at Dow Jones an Apple (AAPL) and Microsoft (MSFT) was down after the stock market opened today.

IBD Stock Leaderboard Neurobiological Sciences (NBIX), Kosovo Liberation Army (KLAC), O’Reilly Motors (orly) f United Rentals (URI) – So are the Dow Jones names Larva (Cat), Home Depot (HD) f United Health Group (UN) – Among the top stocks to consider on investors’ watchlists.

Neurocrine and United Rentals are shares of the IBD Leaderboard. UnitedHealth featured a stock column near the buy zone last week. Caterpillar and United Rentals were two recent companies to today’s IBD inventory.

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Dow jones today: oil prices and treasury yields

After Monday’s opening bell, the Dow Jones Industrial Average fell 0.1%, while the S&P 500 lost 0.4%. The high-tech Nasdaq Composite fell 0.8% in the morning move, with Tesla and modern (MRNA) records the highest pre-market gain for the index. Shares of Moderna rose 3% after Jefferies upgraded the stock from a hold status to a buy, citing optimism about the company’s cancer vaccine.

Among exchange-traded funds, the Nasdaq 100 Tracking Invesco QQQ Trust (QQQ) fell 0.8% and the SPDR S&P 500 ETF (SPY) fell 0.4% early Monday.

The 10-year US Treasury yield rose to 3.54% Monday morning, still trading near recent lows after last week’s drop.

Meanwhile, US oil prices traded less than 1% higher on Monday, but were still on track to end a two-day decline that saw WTI futures drop below $74 a barrel. WTI futures traded near $75 in morning trade.

The stock market is under pressure

On Friday, the Nasdaq Composite ended the day down 1%. The tech-heavy index fared worse than the S&P 500 as it slid nearly 3% for the week. After taking a beating for the week, it has now lost more than 32% so far in 2022. The Nasdaq has finished the past two sessions below the 50-day moving average.

Meanwhile, the Dow Jones Industrial Average lost 0.85% on Friday, with a weekly loss of 1.7%.

The Big Picture column commented on Friday, “With general sentiment deteriorating amid fears of a mounting recession, stock market bulls are hoping a last-minute Christmas rally will help narrow painful losses. The market is oversold.”

Now is an important time to read IBD’s Big Picture column amid the ongoing volatility in the stock market.

Five Dow Jones stocks to buy and watch now

Dow Jones stocks to buy and watch: Caterpillar, Home Depot, UnitedHealth

Dow Jones member Caterpillar continues to trade near 239.95 buy point in a flat base, According to IBD MarketSmith pattern recognition, on the heels of Friday’s 0.9% rally. Stocks found support at the stock’s 21-day exponential moving average and the stock’s RSI is heading to new highs. CAT Corporation stock rose 1% on Monday.

CAT stock shows a strong 97 out of 99 IBD perfect composite rating, as per an examination of IBD stock.

Home Depot, a home improvement retailer, is about 2% lower than the $329.77 buy point for a mug coaster with a handle after reversing last week’s breakout move. HD stock was trading down 1% Monday morning.

Healthcare giant UnitedHealth Group is tracking a flat base with 558.20 buy points. The shares are about 6% away from the most recent entry after giving up support near the 50-day line last week. The UN stock is now trying to stop its recent slide around the 200-day line. Shares fell early on Monday.

4 growth stocks to watch in Cursstock market rally

Top stocks to buy and watch: KLA, Neurocrine, O’Reilly, United Rentals

Chip equipment leader KLA was holding mostly amid market weakness, about 2% below the 392.60 cup handle entry level after Friday’s 0.2% gain. KLA shares lost 0.5% on Monday.

IBD Leaderboard’s Neurocrine stock is trying to find support at the 50-day level amid a two-week losing streak. A strong rebound may be bullish for the immediate outlook of the stock and is likely to lead to the formation of a new base. Meanwhile, a sharp breakout could mean that the stock needs more consolidation. NBIX stock rose 1.1% on Monday.

O’Reilly Automotive also rolled back last week to its 50-day production line. Stocks are still right above the flat 750.98 entry level. A big bounce off the 50-day line may lead to a follow-up entry point, but the uptrend in the market is under pressure at present, which increases the risk of buying stocks. ORLY shares were up 0.1% on Monday.

United Rentals holds less than 368.04 buy points in a cup with handle pattern. The shares are about 5% below the buy point, and further weakness would result in a 7%-8% loss base. URI stock was slightly higher on Monday.

Stocks to watch

These are the top five stocks to watch in the stock market today, including three Dow leaders.

The Company’s name Code The right point of purchase base type
Kosovo Liberation Army (cling on) 392.60 mug with handle
United Rentals (URI) 368.04 mug with handle
Larva (Cat) 239.95 Flat base
Home Depot (HD) 329.77 mug with handle
United Health (United nations) 558.20 Flat base
Source: IBD data as of December 16, 2022

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

Tesla stock

Tesla shares slid 4.7% on Friday, bringing its weekly loss to 16.1%. Shares traded up 2% on Monday, picking up the pace of recovery from last week’s 52-week low. Over the weekend, CEO Elon Musk created a Twitter poll“Should I step down as chairman of Twitter? I will abide by the results of this poll,” he tweeted. The poll closed with 57.5% saying he should leave the position of company president.

Meanwhile, Oppenheimer downgraded the stock from outperforming to outperforming.

On Friday, TSLA stock hit its lowest level since November 2020, reaching a 52-week low of 150.04. The shares closed about 63% from their 52-week high.

Dow Jones leaders: Apple and Microsoft

Among Dow Jones shares, Apple shares sold 1.5% on Friday and 5.4% for the week, tumbling to their lowest level since June. The stock is up about 26% from its 52-week high. Apple stock was trading up 0.2% on Monday.

Microsoft stock fell for the second straight day on Friday, down 1.7%. To the upside, the stock fell just 0.2% last week, but found strong resistance at the 200-day line over the long term. The software giant is still nearly 30% off its 52-week high. Microsoft shares fell 0.2 percent early on Monday.

Be sure to follow Scott Lehtonen on Twitter at @employee Learn more about developing stocks and the Dow Jones Industrial Average.

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