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The Dow Jones Industrial Average briefly lost 280 points on Monday, as data showed a slowing Chinese economy. Tesla’s shares got out of hand after the National Highway Safety Administration opened a formal investigation into Tesla’s autopilot system.
X
Among the leaders of the Dow Jones, Apple (AAPL) sold 1.5% before cutting losses on Monday, while Microsoft (MSFT) was down 0.4% in today’s stock market. Home deposit (HD) is just below a new point of purchase, while Disney (DIS) tries to exit an entry.
You’re here (TSLA) appeared to worsen Friday’s 0.7% loss, slipping more than 5% on Monday morning. The electric vehicle giant fell below a recent point of purchase.
Among the best stocks to buy and watch, Nvidia (NVDA), HR (HR) and Shopify (SHOP) are in or near new shopping areas.
Nvidia, Microsoft and Tesla are stocks in the IBD ranking. Apple is an IBD SwingTrader share.
Dow Jones Today: China’s Economy Slows Down
The Dow Jones Industrial Average lost 0.2% on Monday, while the S&P 500 was down 0.4%. The tech-rich Nasdaq composite sold 0.9% at midday, even after cutting some losses.
Snapshot of the US Stock Market Today |
||||
|---|---|---|---|---|
| Index | symbol | Price | Loss of profit | % Change |
| Dow jones | (0DJIA) | 35377.28 | -138.10 | -0.39 |
| S&P 500 | (0S & P5) | 4443.01 | -24.99 | -0.56 |
| Nasdaq | (0NDQC) | 14652.82 | -170.08 | -1.15 |
| Russel 2000 | (IWM) | 219.53 | -1.60 | -0.72 |
| MICI 50 | (FFTY) | 44.86 | -0.94 | -2.05 |
Last updated: 10:50 AM ET 8/16/2021 |
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Early Monday, China’s economy slowed more than expected in July, according to data released by China’s National Bureau of Statistics.
Among exchange-traded funds, the Innovator IBD 50 (FFTY) traded down 2.3% on Monday. The Nasdaq 100 tracker Invesco QQQ Trust ETF (QQQ) lost 0.8%. Meanwhile, the SPDR S&P 500 ETF (SPY) fell 0.4%.
Stock exchange rally
Dow Jones Industrials and the S&P 500 retreated from Friday’s record highs on Monday, as the Nasdaq sought to end a two-day winning streak.
Big Picture of Friday commented: “Profits season continues next week with big chip leader results Applied Materials (AMAT) and Nvidia, IPO Robin Hood Markets (HOOD), as well as numerous retailer revenues. “
For more stock market commentary, check out The Big Picture from IBD.
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Dow Jones Stocks to Buy and Watch: Disney, Home Depot
Disney stock is going up on the right side of a new base. Stocks are approaching a buy point of 203.12 on a consolidation, while an early entry at 186.39 is also in play. company in the third quarter.
Dow Jones leader Home Depot continues to trade above and below a cup with the buy point of 333.55 years, according to IBD MarketSmith’s chart analysis. The 5% buy zone goes up to 350.23.
Shares lost nearly 2% on Monday morning and are about 3% below the buy point.
Stocks to buy and watch: Nvidia, HR, Shopify
IBD Leaderboard Nvidia stock is plotting a flat base with a buy point of 208.85, according to the analysis of the IBD MarketSmith chart. According to the ranking analysis, “Unlike the previous base which failed, the previous base spent more time above the 50 day line. Because the previous base reduced a previous model, the number of base has been reset. So the last model was the first step. These have a higher chance of success. ” Nvidia shares fell 1.7% on Monday. Nvidia releases its second quarter results Tuesday evening.
RH is trying to get past a buy point of 724.11 in a handle cup. The 5% buy zone peaks at 760.32. Shares lost 3.2% on Monday morning.
Shopify is back at a buy point of 1,499.85 in a cup base, while trying to find support at its key 50-day moving average. Stocks rose nearly 1% on Monday morning. The IBD stock balance sheet shows the SHOP stock with a strong composite IBD rating of 95 out of a perfect rating of 99. The IBD composite rating identifies stocks exhibiting a mix of strong fundamental and technical characteristics.
Tesla Shares
Tesla stock plunged nearly 5% on Monday after the National Highway Safety Administration opened a formal investigation into Tesla’s autopilot system. The government agency said it had identified 11 accidents since the start of 2018 in which a Tesla vehicle using the company’s autopilot or cruise control warning of traffic struck vehicles with flashing lights, flares, an Bright arrow or cones warning of dangers.
Stocks are again testing an aggressive buy point of 700.10 deep in a correction. Meanwhile, a wide and deep base continues to take shape.
On January 25, Tesla stock hit an all-time high at 900.40, after climbing 93% from a buy point of 466 in a handle mug.
Dow Jones Executives: Apple, Microsoft
Among the top stocks in the Dow Jones, IBD SwingTrader Apple stock fell 0.5% on Monday, seeking to end a three-day streak of straight wins. Apple stock is in a new buy zone above a 148 trendline buy point. The stock hit an all-time high on July 15 at 150.
Software giant Microsoft lost 0.4% early Monday, but remains just short of last week’s records. Microsoft continues to trade solidly above the buy point of 263.29 cups. The stock is extended above the 5% buy zone, which climbs to 276.45.
Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen to learn more about growth stocks and the Dow Jones Industrial Average.
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