Dow Jones Drops Out While Pelosi Goes to Taiwan; Uber skyrockets on strong sales

The Dow Jones Industrial Average fell 200 points Tuesday morning on rising tensions between the US and China as House Speaker Nancy Pelosi heads for Taiwan. Machinery giant Caterpillar slipped on weak sales results, while Uber shares were up more than 14% on better-than-expected sales and cash flow positive for the first time.


Arista Networks (A NET), caterpillar (CAT), CF Industries (CF), Devon Energy (DVN), Diamondback energy (FANG), Mosaic (MOS) and Uber technologies (UBER) were the top revenue movers Tuesday.

ANET shares rose 4% in morning trading on strong second quarter results. CAT shares are down more than 4%. CF shares rose more than 2%. Devon shares rose higher. Diamondback won less than 1%. And Mosaic was down nearly 4%.

Tesla (TSLA) fell nearly 1% early Tuesday. Elsewhere, Dow Jones Tech Leaders Apple (AAPL) and Microsoft (MSFT) fell after today’s stock market open.

In the strengthening stock market environment, Dow Jones stocks Chevron (CVX) and UnitedHealth (UNH) — as well as Cheniere Energy (LNG), Exxon Mobil (XOM), Quanta Services (PWR), Ulta Beauty (ULTA) and Vertex Pharmaceuticals (VRTX) — are among the stocks to watch. Keep in mind that continued volatility in stock markets is a reason to remain more conservative despite recent signs of strength.

Quanta, UnitedHealth and Vertex are IBD Leaderboard stocks. Chevron and Exxon were featured in the Near Buy Zone Equities section this week. Exxon Mobil was Friday’s IBD stock of the day.

Dow Jones Today: Treasury Yields, Oil Prices, Pelosi Visit

After Tuesday’s opening, the Dow Jones Industrial Average fell 0.5% and the S&P 500 fell 0.3%. The tech-heavy Nasdaq composite lost 0.45% in morning trading.

Of the exchange-traded funds, the Nasdaq 100 tracker Invesco QQQ Trust (QQQ) lost 0.5%. And the SPDR S&P 500 ETF (SPY) fell 0.3%.

The yield on 10-year Treasuries fell to 2.57% Tuesday morning, threatening to fall for the sixth straight session. Ten-year government bond yields are at their lowest level since early April. Meanwhile, US oil prices fell while West Texas Intermediate futures fell a fraction below $94 a barrel.

House Speaker Pelosi will arrive in Taiwan on Tuesday and plans to meet with Taiwanese government officials. Pelosi would become the first speaker of the House to visit Taiwan since 1997. Pelosi, which claims Taiwan as part of its territory, has warned Pelosi not to do so and has threatened to take action if her visit continues.

stock market rally

On Monday, the Dow Jones Industrial Average fell 0.1% and the S&P 500 fell 0.3%. The tech-heavy Nasdaq composite fell 0.2%, ending a three-day winning streak.

Monday’s The Big Picture column stated: “Overall, losses were minor as July saw the stock market experience its best month since late 2020. Nevertheless, investors should remain nimble and exercise caution in case this is another bear market bounce.” is becoming.”

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Investors can also create watchlists, find companies approaching a buying point, or develop custom screens at IBD MarketSmith.

Five Dow Jones Stocks to Watch Now

Dow Jones Stocks to Watch: Chevron, UnitedHealth

Dow Jones energy giant Chevron is building the right side of a cup base with a buy point of 182.50. Be wary of a possible grab handle to provide a lower entry. Chevron shares fell a fraction on Tuesday.

Health insurance giant and IBD Leaderboard stock UnitedHealth remains in buying range above the 518.80 buy point from its handle double bottom despite Monday’s 1.3% loss, according to IBD MarketSmith chart analysis. The stock moved higher on Tuesday.

UNH stocks show a solid 94 out of a perfect 99 IBD Composite Rating, according to the IBD Stock Checkup. Investors can use the IBD Composite Rating to easily measure the quality of a stock’s fundamental and technical statistics.

4 top growth stocks to keep an eye onrent Stock Market Rally

Top Stocks to Watch: Cheniere, Exxon, Quanta, Ulta, Vertex

Cheniere Energy is in a buy zone after crossing a trendline around 140. Now the stock is trying to break past the buy point of 146.45 with a double bottom. The relative strength line just hit new highs, a positive sign. The stock rose 0.5 percent on Tuesday.

Friday’s IBD Stock Of The Day Exxon Mobil regained the 50-day line last week, hitting an aggressive early entry around 93.24. But the energy giant lost some ground on Monday, falling 2.5%. Meanwhile, a cup-base entry at 105.67 is also in play. XOM shares gained 0.5% Tuesday morning.

IBD Leaderboard stock Quanta Services is back at a buy point of 138.56 with a head-to-head after Monday’s slight loss, according to IBD MarketSmith chart analysis. Quanta earnings are expected on Thursday. The stock lost 0.1 percent on Tuesday.

Ulta Beauty is building a flat base with a buy point of 429.58, but is struggling to resolutely recapture its 50-day line amid Monday’s 1.4% gain. The base comes in the wake of a botched breakout past a cup handle’s 426.93 entry in June. ULTA shares lost 0.5% on Tuesday.

Vertex Pharmaceuticals gave up the 279.23 buy point from its head-to-head and fell further below the 50-day line during Monday’s 2.35% drop. The company will announce its profit on Thursday. Vertex shares rose 1% on Tuesday.

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Tesla stock

Tesla shares fell below 0.1% on Monday, but still extended its profit streak to four sessions. Shares are at their highest level since early May but are experiencing resistance around their 200-day line, which is an important level to watch.

The stock fell nearly 1% Tuesday morning.

Dow Jones Leaders: Apple, Microsoft

Of the Dow Jones stock, Apple shares fell 0.6% on Monday, ending a three-day gains streak. Last week, the stock regained its 200-day line for the first time since May 5. Shares of Apple fell 0.6% on Tuesday morning.

Microsoft fell 1% on Monday, but remains above the 50-day line. Even so, the software giant is still below its long-term 200-day mark. The stock closed about 20% from its 52-week high. Microsoft fell 0.9% early Tuesday.

Follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more information on growth stocks and the Dow Jones Industrial Average.


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