The Dow Jones Industrial Average and other major stock indexes traded mixed Tuesday as Wall Street digested President Donald Trump's announcement that the tariffs on Canada and Mexico will go into effect early March. Among stocks, Hims & Hers Health was a big earnings loser on the stock market today.
After the opening bell, the Dow Jones Industrial Average traded up 0.5%, while the S&P 500 lost a fraction. The tech-heavy Nasdaq composite moved down 0.5% in early morning trades.
The 10-year Treasury yield dropped to 4.32% early Tuesday. And oil prices sank, as West Texas Intermediate futures traded around $70.15 per barrel.
Among exchange traded funds, the Invesco QQQ Trust dropped 0.5%, while the SPDR S&P 500 ETF dipped a fraction after the open.
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Trump Tariffs, Earnings Movers
During a joint press conference with French President Emmanuel Macron on Monday, President Donald Trump said the tariffs on Canada and Mexico are "going forward on time, on schedule." The tariffs are set to start on March 4.
In stocks, Hims & Hers Health crashed nearly 20% even after the company reported bullish earnings and sales growth. Shares closed Monday almost 30% off their 52-week high.
Other big earnings movers Tuesday were Home Depot, Planet Fitness, Trip.com and Zoom Communications.
Home Depot stock added 2.7% in morning trading, while Planet Fitness sank 6%. Trip.com tumbled more than 12%, as shares of Zoom sold off 8% in early morning trading.
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Stock Market Today: Dow Jones Rises
On Monday, the Dow Jones Industrial Average rose 0.1%, while the S&P 500 lost 0.5% and the Nasdaq sold off 1.2%. Check out IBD's The Big Picture column for an updated recommended exposure level for the current stock market conditions.
Among the best companies to watch in the current stock market are eBay, Pinterest and Wells Fargo.
Along with Apple and Nvidia, Dow Jones components making notable moves were Amazon, Microsoft and Goldman Sachs.
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: Goldman Sachs In Buy Range
Dow Jones component Goldman Sachs is back in buy range above a flat base's 612.73 buy point, according to MarketSurge pattern recognition. The stock is trying to find its footing after three days of losses. Shares were up 0.5% Tuesday.
Outside the Dow, IBD Leaderboard name Wells Fargo is just below a cup base's 78.13 buy point amid recent losses. Wells Fargo stock gained 0.8% early Tuesday.
EBay stock is forming a cup base that has a 71.52 buy point. Shares rose 0.7% Tuesday morning.
And Pinterest stock is adding a handle to a big cup base following the earnings-fueled surge of 19% on Feb. 7. The buy point is 40.90. Shares lost 0.3% Tuesday.
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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 |
|---|---|---|---|
| Toast | 41.50 | Cup with handle | |
| Goldman Sachs | 612.73 | Flat base | |
| Wells Fargo | 78.13 | Cup base | |
| 40.90 | Cup with handle |
Source: IBD Data as of Feb. 21
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Nvidia Stock Below Key Level Ahead Of Earnings
Nvidia earnings are due Wednesday after the market close. Investors will be scrutinizing Nvidia's earnings and sales outlook, particularly what the artificial intelligence leader says about its Blackwell chip. Now Nvidia's showcase AI chip, Blackwell began shipping late last year. Any sign of an unimpressive Blackwell sales ramp could spell trouble for Nvidia.
Nvidia tumbled 3.1% Monday, breaching support at the 50-day moving average. That's a key level to watch. A decisive rebound from that level would be bullish for Nvidia stock's immediate prospects and could lead to another buying opportunity. Conversely, a sharp break of that level would likely lead to more downside.
Meanwhile, Nvidia stock declined 1.1% in Tuesday's action.
Tesla Stock Slides
Tesla skidded 2.2% Monday, tumbling below its Feb. 11 lows. Shares are more than 32% off their 52-week high and sharply below their 50-day line.
Tesla stock fell another 3.7% in early morning trading Tuesday.
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Dow Jones Leaders: Amazon, Apple, Microsoft
Dow Jones component and Magnificent Seven stock Amazon continues to fall further below its 50-day line after triggering a sell signal below a 233 buy point last week. Amazon stock lost 0.7% early Tuesday.
Apple stock, which rallied 0.6% Monday, is trying to move above an early buy point at 247.19 — its high on Jan. 31 — while building the right side of a new base. Shares rose 0.2% Tuesday.
Finally, software giant Microsoft moved down 0.9% Tuesday. Shares sold off Monday, hitting their lowest level since August.
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.
