The stock market opened higher Tuesday, with cease-fire talks between Russia and Ukraine underway in Turkey. Treasury yields inched slightly lower, while U.S. oil prices leaned lower following Monday's dive. Shares of Dow Jones tech titan Apple, along with Tesla are rapidly approaching buy points.
Amid a strengthening stock market uptrend, investors have the green light to continually raise exposure by buying top stocks breaking out past proper buy points. You can find stock ideas by monitoring IBD's proprietary watchlists, like the IBD 50 and the IBD Big Cap 20.
Among the Dow Jones leaders, Apple rallied 1% Tuesday morning and Microsoft inched higher in today's stock market. UnitedHealth, a Dow Jones stock to watch, remains in buy range after a recent breakout.
Electric-vehicle leader Tesla climbed around 1.3% Tuesday in the wake of Monday's surge after the company announced plans to split its stock.
Amid the volatile, headline-driven market, IBD Leaderboard stock Arista Networks, Broadcom, CVS Health, European Wax Center and Regeneron Pharmaceuticals are Tuesday's top stocks to buy and watch.
Microsoft and Tesla are IBD Leaderboard stocks. Arista is an IBD SwingTrader stock. Apple was featured in this week's Stocks Near A Buy Zone column. European Wax Center was last week's IPO Stock Of The Week.
Dow Gains Amid Lower Oil Prices, Russia-Ukraine Talks
The Dow Jones Industrial Average broke the 35,000 barrier. The S&P 500 gained 1.1%. The Nasdaq 100 gained 1.4%. All three of the big benchmark indexes are angling toward a third-straight weekly advance.
The 10-year U.S. Treasury yield ticked lower to 2.41% Tuesday, still near its highest level since May 2019. U.S. oil prices dipped 6% Tuesday, following a pullback on Monday. West Texas Intermediate crude traded below $100 a barrel.
Russia-Ukraine cease-fire talks — being held in Istanbul — started Tuesday morning. Expectations for any real progress were reportedly low heading into the negotiations. Previous talks between the Russian and Ukrainian foreign ministers ended with no agreements on a cease-fire or other humanitarian issues.
Stock Market Rally Continues
For more daily stock market commentary, check out IBD's The Big Picture column.
Monday's The Big Picture column commented, "The S&P 500 rallied for the fourth time in five sessions and for the eighth time 10 days. A 0.7% ascent gave the large-cap benchmark further distance above its 50-day moving average. The 21-day exponential moving average, meanwhile, poked above the 50-day line for the first time since Jan. 18."
If you're new to IBD, consider taking a look at its stock trading system and CAN SLIM basics. Recognizing chart patterns is one key to the investment guidelines. IBD offers a broad range of growth stock lists, such as Leaderboard and SwingTrader.
Investors also can create watchlists, find companies nearing a buy point, or develop custom screens at IBD MarketSmith.
Managed care giant UnitedHealth shows a 500.10 buy point with a handle entry on a double-bottom base. Shares ended Monday in buy range above their latest entry after the session's slight rise. The stock gained 0.7% Tuesday.
Bullishly, the stock's relative strength line is near new highs, indicating significant stock market outperformance.
Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones Industrial Average.
