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Dow Jones pares anticipated gains as stock market falters; Microsoft revenue due after hours

 


Key market indices posted small gains, but traded near session lows at noon Tuesday, as the Dow Jones Industrial Average erased much of a 152-point move.




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The Nasdaq rose 0.2%, the S&P 500 rose 0.3% and the Dow Jones Industrials added 0.2% on the stock market today. Small caps followed by the Russell 2000 fell 0.3%. Volume was higher on the two major exchanges compared to the same time on Monday.

Among the exchange traded funds, Innovator IBD 50 (FFTY) fell 0.9%, while the Nasdaq 100-tracking Invesco QQQ Trust (QQQ) gained 0.5%. The IBD 50 ETF recovered a buy point of 50.06 following a failed breakout on Monday.

The US economy continues to recover from the Covid-19 pandemic, which triggered nationwide lockdowns more than a year ago. A resurgence of cases fueled by the more contagious delta variant has recently started to slow as vaccinations increase.

Cumulative cases of Covid-19 around the world are approaching 245 million, with nearly 5 million deaths, according toWorldometer. In the United States, cases topped 46 million with more than 757,000 deaths.

In income today

Facebook (FB) fell more than 4% in significant volume and slipped below its 200-day moving average. On Monday evening, the social media giant reported third-quarter revenue that exceeded views but revenue that lacked. The company reported adjusted earnings of $ 3.22 per share on revenue of $ 29 billion. Analysts expected earnings of $ 3.19 per share on revenue of $ 29.6 billion.

Snapshot of the US Stock Market Today

Index symbol Price Loss of profit % Switch
Dow jones (0DJIA) 35792.99 +51.84 +0.15
S&P 500 (0S & P5) 4579.53 +13.05 +0.29
Nasdaq (0NDQC ) 15259.88 +33.17 +0.22
Russel 2000 (ETC.) 228.95 -0.62 -0.27
MICI 50 (FFTY) 49.69 -0.47 -0.94
Last Modified: 12:10 PM ET 10/26/2021

Facebook shares fell more than 5% on Friday following disappointing earnings and advice from rival Break (BREAK).

UPS (UPS) widened and climbed 8% in revenue fast to pass the buy point of 215.03 of a cup base. It’s also close to a higher buy point of 219.69 from a longer setup. The air cargo delivery giant easily exceeded third-quarter expectations and increased its financial targets for 2021. UPS increased profits 19% to $ 2.71 per share with sales up 9% to 23,114 billions of dollars. Analysts expected EPS of $ 2.55 on revenue of $ 22.573 billion.

Other big names worth mentioning include Advanced micro-systems (AMD), Alphabet (GOOGL) and Twitter (TWTR) after today’s close.

Growth stocks to watch

Nvidia (NVDA) widened and jumped over 7% in heavy trading to a new high. Shares are now extended from a buy point of 230.53 from a six-week shallow cup base, according to Smith Market graphical analysis. The buy range peaked at 242.06. Nvidia is a IBD Ranking and MICI 50 Stock. Its relative strength line, which compares a stock’s performance against the S&P 500, is at an all-time high.

Also in IBD 50, CrowdStrike (CRWD) rose nearly 5% in twice normal trade to pass the buy point of 289.34 on a cup base. The stock remains in the buy range up to 303.81. Early Tuesday, the cybersecurity firm announced a deeper relationship with Amazon Web Services to better protect customers against ransomware attacks and identity-based threats.

On the decline, MP materials (deputy), Reached (UPST) and Confluence (LFLT) lost more than 5% each. Jefferies lowered his Upstart rating to no longer buy.

Dow Jones Movers

On the Dow Jones index, Microsoft (MSFT) and Visa (V) announce after the closing bell. Apple (AAPL) reports after hours Thursday.

Software giant Microsoft climbed 0.9% on Tuesday ahead of earnings. Stocks remain in the buy range above its last buy point. The flat base had a buy point of 305.94 and the 5% buy area caps at 321.24. When Microsoft reports Tuesday night, analysts expect it to earn $ 2.08 a share on around $ 44 billion in revenue.

Among the other Dow winners, Cisco (CSCO), Dow Inc. (DOW) and UnitedHealth (A H) grew by more than 1% each.

Corn Intelligence (INTC) fell 2.5%, while Walgreens (WBA) and American Express (AXP) dropped out about 1% each.

Other news

Acquisition of the digital world (DWAC), a specialist acquisition company (SPAC) merging with Trump Media & Technology Group, sank 18% on Tuesday. This extended Monday’s 11% drop. On Friday, stocks jumped 107%. Last week Donald Trump announced his intention to launch a social media company called Truth Social. There will also be a subscription video-on-demand service called TMTG +.

Follow Nancy Gondo on Twitter at@IBD_NGondo

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