The Dow Jones Industrial Average and other major stock indexes traded lower Wednesday, as Wall Street reacted to President Donald Trump's speech to Congress and weaker-than-expected February jobs data. CrowdStrike was a big earnings loser, while Nvidia and Tesla were lower in morning action on the stock market today.
Early Wednesday, the Dow Jones Industrial Average edged lower while the S&P 500 lost 0.2%. The tech-heavy Nasdaq composite fell 0.4% in early morning trades.
The 10-year Treasury yield ticked higher to 4.26% early Wednesday. And oil prices fell, as West Texas Intermediate futures traded below $67 per barrel.
Among exchange traded funds, the Invesco QQQ Trust fell 0.2%, while the SPDR S&P 500 ETF edged lower after the open.
Nvidia stock reversed and moved 1.7% higher Tuesday, in a rally that came after it hit its lowest level since Sept. 11. Shares, however, remain well below their 50-day and 200-day moving averages. Nvidia stock lost 0.9% in morning trading Wednesday.
Meanwhile, Tesla skidded 4.4% Tuesday, closing below its 200-day line for the first time since Aug. 14. Tesla stock fell 0.6% in morning trades on Wednesday.
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Trump Tariffs, ADP Jobs Data, Earnings Movers
President Trump's speech to Congress focused on tariffs, which have hit the stock market hard in recent weeks. "Whatever they tariff us, we tariff them," Trump said. "Whatever they tax us, we tax them."
Trump went on to say: "We will take in trillions of dollars and create jobs like we have never seen before." However, he conceded that tariffs will cause a "little disturbance, and we're OK with that."
Meanwhile, Commerce Secretary Howard Lutnick said Trump may roll back tariffs on Mexico and Canada as soon as Wednesday. He said Tuesday on Fox Business that the U.S. might meet Canada and Mexico somewhere "in the middle" to "work something out."
In other economic news, the ADP employment report for February showed much weaker growth than expected, with private payrolls up 77,000. They were expected to rise 162,000, still down from January's 183,000. The ADP data is a precursor to the Labor Department's jobs report due out Friday.
Late Tuesday, CrowdStrike delivered fourth-quarter earnings and revenue that beat estimates, but the cybersecurity firm's fiscal 2026 sales and profitability outlook was less upbeat. CrowdStrike stock plunged nearly 8% in morning trading.
Other earnings movers were Abercrombie & Fitch, Flutter Entertainment, Foot Locker and Ross Stores.
Abercrombie shares tumbled 12% in morning trading, while Flutter added 0.9%. Foot Locker stock moved 12% higher. Finally, Ross Stores dropped more than 2.5% in early morning action.
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Stock Market Today: Dow Jones Sells Off
On Tuesday, the Dow Jones Industrial Average sold off 1.6%, or 670 points, while the S&P 500 lost 1.2% and the Nasdaq ended a volatile session down 0.4%.
Among the best companies to watch in the current stock market are Booking, Tradeweb Markets, Uber Technologies and Eli Lilly.
Along with Apple and Nvidia, Dow Jones components making notable moves Tuesday were Amazon.com, Microsoft and McDonald's.
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: McDonald's Below Buy Point
Dow Jones component McDonald's is trying to break out past a cup-with-handle's 311.59 buy point, according to MarketSurge pattern recognition. Shares were down 0.6% in morning action Wednesday.
Outside the Dow, IBD Leaderboard name Eli Lilly is in buy range above a handle entry at 889.36. Shares sank 0.5% early Wednesday.
Travel site Booking is building a cup with handle that has a 5,282 buy point. Shares lost 0.1% Wednesday.
Tradeweb Markets is tracing a flat base that has a 141.69 entry and, so far, firm support at its 50-day line. Shares are back below an early entry at 134.85, the high on Feb. 21, with a sharp decline Tuesday. Shares added 0.2% Wednesday.
Finally, Uber has a handle entry at 82.10 following a recent pullback. The stock was a recent IBD Stock Of The Day. Uber stock gained 0.8% Wednesday.
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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 |
|---|---|---|---|
| Booking | 5,282 | Cup with handle | |
| Goldman Sachs | 612.73 | Flat base | |
| Wells Fargo | 78.13 | Cup base | |
| Tradeweb Markets | 141.69 | Cup base |
Source: IBD Data as of March 4
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Dow Jones Leaders: Amazon, Apple, Microsoft
Magnificent Seven stocks continue to face heavy selling pressure as investors rotate out into fresh sectors or defensive names. Dow Jones component Amazon triggered a sell signal after falling below a 233 buy point in recent weeks. Amazon inched lower early Wednesday, rebounding further from the 200-day line.
Apple, which declined 0.9% Tuesday, is back below its 50-day line. Shares are building a cup with handle that has a 250 entry. Apple stock ticked down 1.6% in morning trades Wednesday.
Finally, software giant Microsoft rose 0.2% Wednesday. Shares, however, remain sharply below their 50-day line and at their lowest level since January 2024.
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.
