Dow Jones Falls Tech Stocks Sell As T-Bill Yields Hit New Highs; Apple, Tesla Stock Slide | Daily Investor Business


The Dow Jones industrial average fell 100 points, while tech stocks stumbled, as Treasury yields hit new highs on Tuesday. Apple and Tesla shares opened sharply lower, while Dow giant Boeing is in the buy range.


Among the leaders of the Dow Jones, Apple (AAPL) fell 1.6% on Tuesday, while Microsoft (MSFT) lost 0.8% in the current stock market. Boeing (BA) is back in the buy range after Monday’s bullish move and rebounded 0.3% in morning trading.

You’re here (TSLA) slipped more than 3% on Tuesday, on pace to extend a three-session losing streak.

Among the best stocks to watch, FANG leaders Alphabet (Google T Facebook (FB) are approaching new points of purchase.

Microsoft is an IBD Leaderboard action. Boeing was the IBD headline for Monday, while Alphabet and Facebook were listed in this week’s Stocks Near A Buy Zone column.

Dow Jones Today: Treasury Bill Yields

After the market opened on Tuesday, the Dow Jones Industrial Average fell 0.2%, while the S&P 500 lost 0.45%. The highly technological Nasdaq composite fell 0.8% in morning trading.

Early Tuesday, the 10-year Treasury yield hit 1.776%, hitting a 14-month high before pushing gains back to 1.744%. On March 19, the yield on the 10-year Treasury climbed to 1.754%.

Among exchange-traded funds, the Innovator IBD 50 (FFTY) fell 0.2% early on Tuesday. The Nasdaq 100 tracker Invesco QQQ Trust ETF (QQQ) lost 0.6% on Tuesday, while the SPDR S&P 500 ETF (SPY) fell 0.3%.

Stock rally: is the Nasdaq ready for another test?

Amid the current stock rally, the Dow Jones Industrial Average hit all-time highs on Monday, while the S&P 500 Index broke a two-day winning streak.

Meanwhile, the tech-heavy Nasdaq remains below its key 50-day moving average. The Nasdaq will need to overcome this major hurdle in order to maintain its upward trajectory. The 50 day line is a critical potential resistance level. If the Nasdaq decisively erases it, new highs could be on the horizon.

Monday’s Big Picture commented: “With a follow-up signal on the S&P 500 on Friday, the stock market’s position has improved. Investors should build their portfolios, adding institutional grade companies that are emerging from solid foundations or other appropriate entries. But the pesky stock market problem this year is a lack of consistency, and it hasn’t gone away with the follow-up. (The follow-up confirmed an attempted rally that began in early March.) “

Despite a resumption of the uptrend, the turmoil in the stock market made progress difficult. Given these difficulties, it is best to maintain a more conservative stance until the market proves that its recent strength is not fleeting.

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Bitcoin price

Bitcoin peaked on March 13, reaching $ 61,556. The price rose about 2% on Tuesday to trade around $ 59,000, according to CoinDesk.

The Grayscale Bitcoin Trust (GBTC) looked to continue its rebound from the 50-day moving average after Monday’s 6.5% rise. The Bitcoin tracking ETF rose 2% on Tuesday morning.

Dow Jones Stocks: Boeing

In the Dow Jones Industrial Average, Boeing is back in the buy range above a buy point of 244.18 in a cup base. The 5% buy range goes up to 256.39. Stocks rebounded about 0.3% on Tuesday.

Boeing was billed as the IBD title of the day Monday.

Stocks close to purchasing areas: Alphabet, Facebook

IBD Leaderboard Alphabet stock continues to form a flat base with a new buy point at 2,145.24, according to chart analysis from IBD MarketSmith. Shares are about 5% off the new entry amid Monday’s 1% gain. The title rose 0.3% on Tuesday.

According to the rankings commentary, “Alphabet has made better strides than other large cap tech lately. Support at the 21-day line is now shaky. Watch the stock for support as it tests the line. of 50 days. The last base was Stage Two. “

Facebook, another FANG stock leader, plots a cup with a handle with a buy point of 299.81. Shares rose 2.8% on Monday and are around 3% of the new entry. Early Tuesday, Facebook stock lost 0.1%.

According to IBD Stock Checkup, the FB stock shows a strong 92 on a perfect IBD composite rating of 99. The IBD composite rating helps investors easily measure the quality of a stock’s fundamental and technical indicators.

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Tesla stock

Tesla stock slipped more than 3% on Tuesday, adding to Monday’s 1.2% loss and threatening to extend a three-session losing streak.

Tesla shares closed around 32% of their 52-week high on Monday. Tesla stock could form a new base, but it’s too early for a new risk-based optimal buy point.

On February 22, Tesla broke its main line 10-week moving average, a critical support level. On January 25, Tesla stock hit a record high at 900.40, after climbing 93% from a buy point of 466 in a cup.

Dow Jones Executives: Apple, Microsoft

Among the major stocks in the Dow Jones, Apple fell about 1.6% on Tuesday, on the verge of breaking a three-day streak in a row. Apple stock is rebounding from its 40 week line and may soon try to recover its 10 week line again.

On February 18, Apple stock triggered the 7% to 8% loss reduction sell rule when it fell more than 7% below its buy point of 138.89 in a cup with handle.

Meanwhile, software giant Microsoft fell 0.7% on Tuesday. Stocks are back above their buy point of 232.96 and move closer to a buy point of 246.23 in a new flat base.

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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