The Dow Jones Industrial Average and other major stock indexes dropped Tuesday, as Wall Street braced for President Donald Trump's tariffs to go into effect Wednesday. Early movers included Newsmax, Nvidia and Tesla on the stock market today.
After the opening bell, the Dow Jones Industrial Average traded down 0.5%. The S&P 500 was down 0.1%. The tech-heavy Nasdaq composite rose 0.1%.
The 10-year Treasury yield ticked lower to 4.16% early Tuesday. And oil prices held steady, as West Texas Intermediate futures traded near $71.70 per barrel.
Among exchange traded funds, the Invesco QQQ Trust was up 0.1%, while the SPDR S&P 500 ETF lost 0.1% after the open.
In stocks, Nvidia inched higher in Tuesday's trading, still threatening to hit more lows. Nvidia stock had fallen another 1.2% Monday, extending a losing streak to five sessions.
Tesla stock bounced 2.6% in morning action Tuesday. Shares of the Elon Musk-led company are 47% off their record high of 488.54, reached on Dec. 18. Tesla stock lost 1.7% Monday after finding resistance at its 200-day line last week.
Tesla deliveries for the first quarter should be released on Wednesday.
Finally, Newsmax rocketed as much as 77% more in early action Tuesday before paring gains to 45%. The conservative news station made an explosive debut Monday, ending the session with a gain of more than 735%. The initial public offering was originally priced at $10 apiece. Newsmax stock ended the day at 83.51.
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Stock Market Today: Trump Tariffs Set To Go Into Effect
On Wednesday, President Trump is set to unveil "reciprocal" tariffs. The "Liberation Day" tariffs target other countries' duties and other trade barriers on U.S. goods.
Early Tuesday, the Washington Post reported that White House aides have created a proposal that would set tariffs of roughly 20% on most imports.
Late Monday, President Trump said that he had decided on a plan for Wednesday's latest round of tariffs but didn't reveal his decision.
Meanwhile, 25% auto tariffs, announced by Trump on March 26, go into effect Thursday. Further, Trump's one-month suspension of 25% tariffs on many Canadian and Mexican goods is set to end in early April.
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Dow Jones Rallies 400 Points
On Monday, blue chips on the Dow Jones Industrial Average rallied 1%, or 417 points, while the S&P 500 gained nearly 0.6% and the Nasdaq edged lower.
Following the sharp losses, now is an important time to read IBD's The Big Picture column for how to handle the current market and to track the updated exposure level.
Among the best companies to watch in the current stock market are Heico, Tradeweb Markets, Life Time and Uber Technologies.
Along with Apple and Nvidia, Dow Jones components making notable moves this week were Amazon.com, Microsoft and Travelers.
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 Stocks: Travelers Just Below Buy Point
Dow Jones component and insurance giant Travelers is tracing a flat base that has a 269.56 buy point, according to MarketSurge chart analysis. And shares are just above their 263.08 handle entry, as they inched higher in morning action Tuesday.
Outside the Dow, Tradeweb Markets is moving out of buy range past a cup-with-handle's 140.48 entry following a recent breakout move. Shares rose 0.3% Tuesday.
Recent IBD Stock Of The Day Heico is just below a 270.37 entry in a cup with handle, as shares moved 0.5% lower Tuesday.
IBD Leaderboard stock Life Time is trying to halt its recent decline at the 50-day line, a key level to watch. A short cup with handle offers a 32.85 buy point. Its relative strength line hit a new high last week. Life Time stock was up 0.3% in early action Tuesday.
Finally, ride-hailing giant Uber is attempting to find support at the 50-day line as a cup with handle takes shape. The official buy point is 82.10 with an early entry at 77.58. Uber stock sank 0.4% in Tuesday's trading.
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Stock Market: Companies To Watch
These are four stocks in or near buy zones in Tuesday's stock market, including a Dow Jones leader.
| Company Name | Symbol | Correct Buy Point | Type Of Buy Point |
|---|---|---|---|
| Life Time | 32.85 | Cup with handle | |
| Travelers | 269.56 | Flat base | |
| Heico | 270.37 | Cup with handle | |
| Tradeweb Markets | 140.48 | Cup with handle |
Source: IBD Data as of March 31
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Dow Jones Leaders: Amazon, Apple, Microsoft
Magnificent Seven stocks are back near their recent lows following heavy selling pressure last week. Dow Jones component Amazon hit a fresh recent low during Monday's losses. But Amazon stock reversed 0.4% higher early Tuesday.
Apple, which rallied sharply Monday, stayed below its 200-day moving average. Apple stock rose 0.2% in morning trades Tuesday.
Finally, software giant Microsoft gained 0.6% Tuesday. Shares reached a new 52-week low Monday.
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.
