The Dow Jones Industrial Average and other major indexes traded lower Wednesday, as Wall Street braced for an interest rate decision from the Federal Reserve and comments from Fed Chairman Jerome Powell. Meanwhile, Meta Platforms and Tesla were in focus on the stock market today, with their fourth-quarter earnings reports due after the market close.
After the opening bell, the Dow Jones Industrial Average fell less 0.1%, while the S&P 500 dropped 0.2%. The tech-heavy Nasdaq composite traded down 0.5% in morning trades.
The 10-year Treasury yield ticked lower to 4.52% early Wednesday. And oil prices eased, with West Texas Intermediate futures trading around $73.35 per barrel.
Among exchange traded funds, the Invesco QQQ Trust was down 0.5%, as the SPDR S&P 500 ETF eased 0.2% after the open.
Tesla reversed from sharp losses to move up a fraction Tuesday, as shares continued to seek support at their 50-day moving average. A decisive rebound would put the Elon Musk-led company in a new buying area. But Tesla stock sank 1% in morning trades Wednesday.
And social media platform Meta is out of buy range past a 638.40 entry. Meta stock declined 0.7% in Wednesday's trading.
Meta stock is on IBD Leaderboard, with Tesla stock on the Leaderboard watchlist.
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Stock Market Today: Fed Decision, Powell
Today's big economic news is the Fed's interest rate decision set for 2 p.m. ET. Markets currently don't expect a rate cut until June, though the odds are close to even for a reduction at the May meeting. Meanwhile, Fed Chair Powell's planned news conference after the decision will shape expectations for the next Fed gathering in March and in the months to come.
Elsewhere, key earnings movers Wednesday morning include ASML, Stifel Financial and T-Mobile US.
ASML shares jumped 5% in morning trading, while Stifel stock is trying to break out past a 116.40 entry. And T-Mobile stock surged more than 7% in early trading.
Up next, big earnings reports anticipated after the close are Microsoft and ServiceNow.
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Dow Jones Rises
On Tuesday, the Dow Jones Industrial Average climbed 0.3%, while the S&P 500 gained 0.9% and the Nasdaq rebounded 2%.
Among the best companies to watch in the current stock market are Netflix, Royal Caribbean, Shopify and Spotify.
Along with Apple and Nvidia, Dow Jones components making notable moves were Amazon.com, Microsoft and Walmart.
Meta and Walmart are featured in this Stocks Near A Buy Zone column.
Check out IBD MarketSurge's "Breaking Out Today" list for top growth stocks that are moving above correct buy points. Check for potential breakouts on the "Near Pivot" list. To find additional stock ideas, check IBD Stock Lists like IBD 50, Big Cap 20 and Stocks Near A Buy Zone.
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Dow Jones: Walmart Breaks Out
Dow Jones retail giant Walmart broke out past a flat base's 96.18 buy point this week and is buy range, according to MarketSurge pattern recognition. Shares inched higher Wednesday.
Outside the Dow Jones index, streaming giant Netflix is in a buy zone past a 941.75 buy point in a flat base following last week's earnings-fueled gains. Shares gained 0.5% Wednesday.
Cruise operator Royal Caribbean soared by 12% Tuesday after strong earnings results, breaking out past a 258.79 flat-base entry. The stock inched downward Wednesday morning.
Shopify surged more than 9% on Tuesday to break out past a 115.37 double-bottom entry. An alternative entry is at 120.72. Shopify shares dipped 0.2% Wednesday.
Finally, Spotify is also in buy range past a flat base's 506.47 entry amid a six-day win streak. Shares tacked on 0.5% Wednesday morning.
Shopify is on IBD Leaderboard, while Royal Caribbean is on SwingTrader.
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Stock Market Today: Companies To Watch
These are four stocks in or near buy zones in today's stock market, including a Dow Jones leader.
| Company Name | Symbol | Correct Buy Point | Type Of Buy Point |
|---|---|---|---|
| Netflix | 941.75 | Flat base | |
| Walmart | 96.18 | Flat base | |
| Spotify | 506.47 | Flat base | |
| Meta Platforms | 602.95 | Flat base |
Source: IBD Data as of Jan. 28
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Nvidia Stock
Nvidia jumped nearly 9% Tuesday, snapping back from Monday's plunge. Shares regained their 200-day line, but are still sharply below the 50-day line.
The artificial intelligence giant gave up 2.4% Wednesday as Wall Street continued to digest the impact of China's DeepSeek.
Dow Jones Leaders: Amazon, Apple, Microsoft
Besides Nvidia, another Dow Jones component in the Magnificent Seven is Amazon stock, which rallied last week to break out above a 233 buy point in a flat base. That's a new buying opportunity for the e-commerce giant. It rose 0.4% in morning action Wednesday after hitting a new high Tuesday.
Shares of Apple rallied 3.7% Tuesday, nearly recovering their 50-day line. But shares sold off 1.3% early Wednesday after Oppenheimer downgraded the stock to perform from outperform.
Microsoft shares eased 0.5% Wednesday morning. On Tuesday, the software giant jumped from support at its 50-day moving average. Microsoft stock is on IBD Long-Term Leaders.
Be sure to follow Scott Lehtonen on X at @IBD_SLehtonen for more on growth stocks, the Dow Jones Industrial Average and the stock market today.
