The Dow Jones Industrial Average and other major stock indexes traded higher Tuesday as Wall Street digested economic data showing the early impact of the President Donald Trump's tariffs. Three early movers were Nvidia, Tesla and Bank of America, the latter of which which beat earnings estimates.
After the opening bell, the Dow Jones Industrial Average climbed 0.5%. The S&P 500 rose 0.6%, while the tech-heavy Nasdaq composite gained 0.7%.
The 10-year Treasury yield ticked higher to 4.37% early Tuesday. And oil prices dipped, as West Texas Intermediate futures traded near $61.10 per barrel.
Among exchange traded funds, the Invesco QQQ Trust moved up 0.7%, while the SPDR S&P 500 ETF gained 0.6% after the open.
Tesla stock moved 1.1% higher Tuesday, threatening to erase Monday's modest gain. Shares of the Elon Musk-led company remain around 48% off their record high of 488.54, reached on Dec. 18.
Nvidia stock moved up 0.7% in Tuesday's trading, bouncing back from Monday's 0.2% fall. The artificial intelligence giant is approaching its 50-day and 200-day moving averages, which are key levels to watch.
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Trump Tariff News
The fast-moving impact of Trump's tariffs on the economy failed to show a negative impact in the Empire State manufacturing survey. The manufacturing index fell less than expected, at -8.1 on the month. It was expected at -10.0 in April vs. March's -20.0 reading. Despite the better-than-expected results, underlying components and expectations anticipate sustained pressure on the manufacturing sector.
Meanwhile, import prices fell 0.1% in March, with a year-over-year rise of 0.9%. Import prices were expected to come in flat on the month, according to Econoday estimates.
In stocks, Bank of America, Citigroup and Johnson & Johnson were key earnings movers.
Bank of America shares jumped 4.9% after the company reported better-than-expected results for its first quarter, while Citigroup stock gained 3.6%. Finally, J&J stock slipped 0.6% in early action.
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Dow Jones, Major Indexes Rebound
On Monday, blue chips on the Dow Jones Industrial Average advanced 0.8%, or 312 points, while the S&P 500 gained 0.8% and the Nasdaq climbed 0.6%.
Due to current market volatility, 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 MercadoLibre, Netflix, Spotify and TJX.
Along with Apple and Nvidia, Dow Jones components making notable moves this week were Amazon.com, Microsoft and UnitedHealth.
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: UnitedHealth Above Buy Point
Shares of Dow Jones component UnitedHealth was down 0.2% in morning action Tuesday. The stock snapped a four-day win streak Monday, holding above a 553.91 buy point, according to MarketSurge chart analysis. A cup base is also forming that has a 630.73 entry.
Outside the Dow, e-commerce giant MercadoLibre offers a 2,202 buy point in a double bottom, according to IBD MarketSurge. But shares are about 8% below their entry as they look to retake their 50-day line. MercadoLibre stock added 2.1% Tuesday.
Streaming giant Netflix is building a double bottom that offers a 998.70 buy point. Shares climbed 3.7% after the opening bell Tuesday. Earnings are due out late Thursday.
Music streaming leader Spotify has formed a double-bottom base with a 621.20 buy point. Spotify stock was up 2.6% in early action Tuesday.
Finally, off-price retailer TJX is moving further above a 127.58 buy point in a double bottom and the stock hit a new high Monday. TJX stock edged up in morning trades.
Keep in mind that now is not a good time to buy stocks amid heavy selling in recent weeks. IBD currently recommends 0% to 20% stock exposure under current conditions.
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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 |
|---|---|---|---|
| UnitedHealth | 553.91 | Double bottom | |
| Spotify | 621.20 | Cup with handle | |
| TJX | 127.58 | Double bottom | |
| Ollie's Bargain Outlet | 115.42 | Double bottom |
Source: IBD Data as of April 14
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Dow Jones Leaders: Amazon, Apple, Microsoft
Magnificent Seven stocks are rebounding from their lows after Trump's 90-day pause on tariffs. Dow Jones component Amazon inched up early Tuesday, keeping the stock sharply below its 200-day line.
And iPhone maker Apple moved up 0.2% Tuesday morning. Its shares had rallied 2.2% Monday, closing at their highest level since April 3.
Finally, software giant Microsoft added 0.9% Tuesday. Shares reached a new 52-week low last week before rebounding back to their 50-day line, a key resistance level to watch.
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.
