The Dow Jones Industrial Average rose modestly Tuesday after a pair of housing reports showed gains in home prices. An early mover was Tesla, which is rallying toward a new buy point on the stock market today.
After the opening bell, the Dow Jones Industrial Average moved up 0.1%, while the S&P 500 inched lower. The tech-heavy Nasdaq composite rose 0.2% in early trading.
Early Tuesday, the 10-year Treasury yield ticked higher to 3.79%. Oil prices rose, with West Texas Intermediate futures trading around $72.30 per barrel.
Among exchange traded funds, the Invesco QQQ Trust was up 0.2%, as the SPDR S&P 500 ETF moved down a fraction after the open.
Tesla stock rallied another 2.6% Tuesday morning, set to add to Monday's 4.9% advance. The electric-vehicle giant is forming a cup base with a 274 buy point after moving past an early entry at 235.
In overnight trading, China's central bank launched a number of initiatives to energize the country's economy. And Chinese stocks reacted positively. Alibaba, Baidu and JD.com all rallied sharply.
Apple Seeks Support As Netflix Tries To Stop Buffering And Break Out
Stock Market Today: AutoZone, Thor Earnings
Early Tuesday, AutoZone and Thor Industries were key earnings movers. AutoZone stock dropped nearly 3%, while Thor shares rose 2.4% in morning trading.
Ahead of Tuesday's market open, the Case-Shiller home price index rose 0.3% for the month of July, with a 5.9% year-over-year rise that was in line with estimates. Further, the Federal Housing Finance Agency home price index climbed 0.1% for the month of July, with an annual increase of 4.5%. It was expected to fall 0.1% on the month, according to Econoday.
Due out at 10 a.m. ET, the Conference Board's consumer confidence index is anticipated to dip to 103.0 in September, down from a reading of 103.3.
Nvidia, Apple And Tesla Highlight How To Handle This Market
On Monday, the Dow Jones Industrial Average moved up nearly 0.2% to hit an all-time high. The S&P 500 gained 0.3%, as the tech-heavy Nasdaq composite rose 0.1%.
During Monday's IBD Live show, the IBD Live team discussed the current trading conditions and how investors should handle the stock market.
Microsoft Nipping At Apple. Tesla's Mag 7 Card Threatened.
Best Stocks To Watch
Among the best companies to watch on the stock market today are Arista Networks, DoorDash and Spotify.
Notable Dow Jones components are Amazon.com, Apple, Home Depot, Microsoft and Visa.
Spotify and Visa featured in Investor's Business Daily's Stocks Near A Buy Zone column.
There were two new stocks on IBD MarketSurge's "Breaking Out Today" list Monday. Notably, Unum Group topped a 58.17 flat-base entry Monday and edged higher Tuesday. And there are more names on the site's "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: Home Depot, Visa Near Buy Points
Dow Jones payments stock Visa is back below a 290.96 flat-base entry. Shares were down more than 3% Tuesday morning on reports of a looming antitrust lawsuit from the U.S. Justice Department.
Further, Home Depot is in buy range past a handle buy point at 378.58, according to MarketSurge pattern recognition. Shares rose 1% early Tuesday.
Outside the Dow Jones index, Arista Networks is in a buy zone past a 376.50 buy point in a consolidation, according to IBD MarketSurge pattern recognition. Shares gained 0.4% Tuesday morning.
DoorDash ended Monday out of buy range above a cup-with-handle's 131.21 buy point. Shares added 1.1% early Tuesday.
Finally, Spotify shares are in buy range above a consolidation's 359.38 entry. The music streaming platform gained 1.6% Tuesday.
Find The Best Stocks To Buy And Watch With IBD Stock Screener And IBD Screen Of The Day
Stock Market Today: Companies To Watch
These are four stocks in or near buy zones in today's stock market.
| Company Name | Symbol | Correct Buy Point | Type Of Buy Point |
|---|---|---|---|
| Ferrari | 442.80 | Flat base | |
| Taiwan Semiconductor | 175.45 | Cup with handle | |
| ServiceNow | 850.33 | Flat base | |
| Uber Technologies | 75.40 | Double bottom |
Source: IBD Data as of Sept. 23
Join IBD Experts As They Analyze Leading Stocks In The Stock Market Today On IBD Live
Magnificent Seven Stocks: Alphabet, Meta, Nvidia
Among Magnificent Seven stocks, Alphabet and Meta Platforms traded up 0.4% and 0.1%, respectively, Tuesday.
Google-parent Alphabet is testing resistance at the 50-day line following a strong rebound in recent weeks, as it reversed 1.1% lower Monday.
Fellow Magnificent Seven stock Meta is in buy range above a 544.23 alternate entry.
Another stock in the group, Nvidia, held right at its 50-day line Monday and added 1% Tuesday.
Dow Jones Leaders: Apple Eyes Buy Point
Among Dow Jones components in the Magnificent Seven, Amazon shares are nearing a 201.20 cup-base entry. The stock fell 0.5% Tuesday.
Apple is close to a V-shaped cup with handle that shows a 232.92 entry. Shares gained 0.5% Tuesday morning.
Microsoft shares are also back above their 50-day line and building a new cup base. And on Tuesday morning, the stock dropped 0.5%.
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.
