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The Dow Jones Industrial Average plunged 800 points on Monday amid rising Covid-19 fears. Apple and Tesla shares were sold in the morning trade.
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Among the leaders of the Dow Jones, Apple (AAPL) fell nearly 3% on Monday, while Microsoft (MSFT) fell 0.7% in today’s stock market. Mcdonalds (MCD) passed a new buy point last week, but came back below the entry.
You’re here (TSLA) was on track to extend a four-day losing streak, slipping about 2.5% Monday morning.
Among the best stocks to buy and watch, Advanced micro-systems (AMD) and BioNTech (BNTX) can be found in or near new shopping areas.
Microsoft and Tesla are stocks in the IBD ranking. BioNTech is an IBD SwingTrader share.
Dow Jones today: fears related to Covid-19
The Dow Jones Industrial Average fell 2.2% on Monday, while the S&P 500 sold 1.8%. The tech-rich Nasdaq lost 1.4% in morning trading.
The recent resurgence of Covid-19 cases in many parts of the world – including highly vaccinated countries like the UK – could hamper economic growth. In the United States, coronavirus cases have jumped 37% in the past seven days to 203,082, according to Worldometer.
The stock market rally weakens
The S&P 500 continued to retreat from record highs on Monday, as the Nasdaq looked to extend its losing streak to five sessions. Dow Jones industrialists are again trying to find support around their 50-day moving average.
Friday’s Big Picture column noted: “An early attempt at a rebound quickly turned into another day of losses for stocks today. The weakening, not only among key indices but also vital sectors this year. , encourages a more cautious position. “
For more stock market commentary, check out The Big Picture from IBD.
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Dow Jones Stocks: McDonald’s
Dow Jones restaurant giant McDonald’s is trading below a buy point of 238.28 on a flat basis, according to IBD MarketSmith’s chart analysis, after the brief breakthrough attempt last week.
Shares fell nearly 1% on Monday.
Stocks to buy and watch: AMD, BioNTech
Chip giant Advanced Micro Devices plots a cup with a handle that shows a buy point of 95.54, according to graphical analysis from IBD MarketSmith. Shares fell 0.5% on Monday morning and are around 10% of the new buy point.
According to IBD Stock Checkup, AMD stock has a strong IBD Composite Rating of 95 out of 99. The IBD Composite Rating identifies stocks with a mix of strong fundamental and technical characteristics. AMD was one of the IBD actions of the day last week.
The IBD Leaderboard stock and Covid-19 vaccine leader BioNTech rebound from its key 50-day moving average, placing the stock in a new buy zone. The title reduced its losses to 0.5% Monday morning.
According to rank analysis, “BioNTech clears a trendline after a recent pullback near 222, offering a new entry. The stock also bounces off its 10-week moving average. It joins Leaders as a new position of half size. “
BioNTech is also an IBD SwingTrader share.
IBD Live: a new tool for daily stock market analysis
Tesla shares
Tesla stock slipped 2.5% Monday morning, in an attempt to extend a four-day losing streak. The electric vehicle giant is again testing support around its 200-day long-term moving average. Another strong show of support at these levels would look bullish for the stock’s outlook.
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 main Dow Jones stocks, Apple sold nearly 3% on Monday, as it extended a three-session losing streak. The stock hit an all-time high last week at 150.00.
Apple stock is extended beyond the 5% buy zone from an entry of 137.17 in a cup base, according to IBD MarketSmith’s chart analysis.
Microsoft continues to trade solidly above the buy point of 263.29 cups. Shares lost 0.7% on Monday. 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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