The Dow Jones Industrial Average notched its fourth straight day in the red while the other major indexes managed a second consecutive session in the black on Tuesday. Super Micro Computer and Nvidia ended up as two of the biggest gainers on the stock market today.
The Dow lost more than 350 points at one point Tuesday morning, but trimmed the larger loss to 120 points, or 0.3%. The 30-stock index is testing its 21-day exponential moving average after dipping below it Tuesday morning.
The tech-heavy Nasdaq led the way, rising more than 1%, and pushing its way back above its 21-day line.
The benchmark S&P 500 added 0.4% and joined the Nasdaq in cracking the 21-day mark. In addition, the small-cap Russell 2000 gained momentum and lifted 0.7% higher.
Volume rose slightly on the New York Stock Exchange and fell on the Nasdaq vs. Monday.
On the Nasdaq exchange, rising stocks topped falling issues by 5-to-4. On the New York Stock Exchange, losers beat gainers by roughly 9-to-8.
Oil Dips, Then Rises, Amid Geopolitical Conflict
Markets shook off the effects of the Russia-Ukraine war, which escalated after President Joe Biden Monday evening approved U.S. long-range missiles to be used against Russia.
Ukraine reportedly launched missiles to strike a Russian ammunition storage facility early Tuesday morning. Russia responded by heightening its nuclear threat.
Crude oil reversed 0.7% higher to $69.63 a barrel. The 10-year Treasury yield shed two basis points to 4.39% Tuesday.
Stock Market Today: Nvidia, Super Micro Shine
Nvidia stock was the biggest gainer on the Dow Jones today. Newly added Dow Jones stock Nvidia, jumped 4.9%. The IBD 50 and SwingTrader name's earnings are due Wednesday after the market close. Shares are in a buy zone up to 147.78 from a 140.76 buy point.
Super Micro Computer led the S&P 500 today, followed by Nvidia in second place. Super Micro soared more than 31% in huge volume, after the company announced it filed a plan to keep it from getting delisted from the Nasdaq exchange. Shares hit a 52-week low Monday and have lost around 77% from their record high set in March.
Elsewhere, Berry Global Group jumped sharply early in the session on news its fiscal fourth-quarter adjusted earnings and sales exceeded projections. But the stock reversed as the day wore on and it was down 1.6% by the closing bell.
3:16 p.m. ET
AI Stock Soars On Microsoft News
C3.ai spiked on news that the artificial intelligence application software company and Microsoft are expanding their partnership. Their joint effort will speed up the adoption of C3.ai's Enterprise AI on Microsoft Azure.
C3.ai stock reached a 52-week high in massive volume. The stock is on pace for its largest increase since May 30, 2023, when it rocketed 33.42% higher.
Magnificent Seven stock Microsoft ticked up on the stock market today. The Big Tech icon is in a long choppy base with an official buy point at 468.35 and an early entry at 441.85. Microsoft stock has underperformed as reflected in its mediocre 47 Relative Strength Rating.
A new IBD SwingTrader component, Reddit powered up 6% after Piper Sandler raised its price target to 150 from 115. The brokerage held its overweight rating on the online discussion platform stock.
1:57 p.m. ET
Stock Market Today: These IBD 50 Stocks Rally
Three IBD 50 stocks were big gainers on the stock market today.
Lemonade catapulted higher in heavy trading as the insurance company hosted its Investor Day. The stock quickly gained 65% after it broke out from its 24.55 buy point of a long undefined base, following the company's upbeat third-quarter results on Oct. 30.
The climb of more than 20% from its entry within 15 days earned it a power-from-pivot flag, according to MarketSurge pattern recognition. Shares revisited levels not seen since January 2022.
Vertiv Holdings surged sharply on news it's in collaboration with Compass Datacenters on a new cooling system to be used in artificial intelligence data centers. The news prompted several analysts to raise their price targets on the digital infrastructure stock.
Shares topped the profit zone of a 109.27 cup base buy point. The stock has climbed 183% so far this year, earning it a 97 IBD Relative Strength Rating. Vertiv stock also boasts Composite and Earnings Per Share Ratings of 98.
Hims & Hers Health popped as it tried to climb back from a steep two day sell-off that started Thursday in which the stock surrendered 37%. The stock is nearing the 23.74 buy point of a cup-with-handle base. The online pharmacy and telehealth stock has seen volatile trade in heavy volume this month.
12:17 p.m. ET
Incyte Plunges; Trump Media Sinks
Incyte plunged in heavy volume on news it paused enrollment in a study of one drug and stopped developing another. The stock is on track for its largest decrease since April 6, 2018, when it fell 22.9%, according to Dow Jones Market Data. The biotech stock gave back a 19% gain from the 70.36 buy point, causing a round-trip sell signal.
Trump Media & Technology gave back more than 8% of Monday's 16.6% gain. Shares rocketed Monday on news it is in discussions to buy crypto trading platform Bakkt Holdings. On Tuesday, Bakkt said its policy "is not to comment on market rumors or speculation," according to MarketWatch.
Trump Media stock retreated below its 21-day line on the stock market today. Bakkt stock popped around 10% in enormous volume, adding to Monday's 162% gain.
Byrna Technologies surged and reached a three-year high. Shares are slightly extended from a 19.42 cup base buy point.
10:41 a.m. ET
Stock Market Today: Symbotic Stock Surges
Symbotic soared around in heavy trading, following the company's better than expected fiscal fourth-quarter profit and revenue. Fiscal 2025 estimates show the company turned profitable with a profit of 35 cents per share. Shares retook their 200-day moving average on the stock market today. The stock has lost 40% so far this year and holds a dismal 24 IBD Relative Strength Rating. The company specializes in warehouse automation and robotics.
Lowe's pulled back more than 4% in huge volume after the home improvement company's beat fiscal third-quarter adjusted profit and revenue but gave fiscal 2024 sales guidance below estimates. The stock undercut its 50-day moving average. Home Depot skidded in sympathy.
Viking Holdings sank despite beating third-quarter earnings and sales forecasts. Shares are extended from a 37.25 buy point and climbed to a profit zone before Tuesday's tumble.
Futures: Nvidia Due With AI Giant Back In Buy Zone
Stocks On the Move
Trip.com Group advanced after it announced higher than expected third-quarter adjusted profit and revenue. Shares are forming a base-on-base pattern with a 69.67 buy point.
Dow Jones stock Walmart climbed after the retailer topped fiscal third- quarter adjusted earnings and sales estimates. Shares are extended from a three-weeks-tight pattern with an 83.34 buy point.
Follow Kimberley Koenig for more stock market news on X/Twitter @IBD_KKoenig.
