Dow Jones Futures Fall: Home Depot, Walmart Earnings Beat Estimates; Next Fed Minutes

Dow Jones futures were lower Tuesday morning after Monday’s stock action. Dow Jones Stocks Home deposit (HD) and walmart (WMT) reported ahead of Tuesday’s open. Next, key economic data — Fed minutes and U.S. retail sales — are due out on Wednesday.


Factory (FN) and ZipRecruiter (ZIP*: ENGLISH) were the main drivers of earnings ahead of Tuesday’s open. Shares of Fabrinet jumped 12%, while shares of ZipRecruiter fell 5% in extended trade.

Dow Jones Earnings: Home Depot, Walmart

home improvement retailer The Home Depot released its second quarter results early Tuesday. The company earned $5.05 a share on sales of $43.79 billion, beating analysts’ estimates. HD shares fell less than 1% in early morning trading.

Discount retailer Walmart extended its winning streak to seven sessions on Monday, up 0.3%. Walmart second-quarter earnings came in at $1.77 per share on revenue of $152.9 billion, beating estimates. WMT shares jumped 4% ahead of the open.

stock market today

On Monday, the Dow Jones Industrial Average rose 0.45%, while the S&P 500 rose 0.4%. The tech-heavy Nasdaq composite climbed 0.6%, extending Friday’s gains.

Overview of the US stock market today

Index Symbol Price loss of profit % To change
Dow Jones (0 MONEY) 33912.63 +151.58 +0.45
S&P500 (0S&P5) 4297.14 +16.99 +0.40
Nasdaq (0NDQC ) 13128.05 +80.86 +0.62
Russell 2000 (IWM) 201.07 +0.71 +0.35
INN 50 (FFTY) 29.83 -0.12 -0.40
Last Updated: 4:34 PM ET 08/15/2022

Among exchange traded fundsthe Nasdaq 100 Invesco QQQ Trust tracker (QQQ) rebounded 0.8%, and the SPDR S&P 500 (TO SPY) increased by 0.4%.

VE Giant You’re here (TSLA) rose 3.1% on Monday. Among Dow Jones Leaders, Apple (AAPL) and Microsoft (MSFT) increased by 0.6% and 0.5% respectively in stock market today.

In a healthy stock market environment, Dow Jones stocks Coke (IS) and Merck (M.K.R.) – as good as Albemarle (ALB), Costco (COST), Monolithic power systems (MPWR) and Ollie’s Bargain Outlet (OLI) – are among the best stocks to buy and watch.

Albemarle is a IBD classification Stock. Albemarle and Costco were presented in this week’s Stocks Near A Buy Zone column.

Dow Jones Futures Today: Treasury Yields, Oil Prices, Fed Minutes

Before Tuesday’s open, Dow Jones futures, as well as S&P 500 and Nasdaq 100 futures were each down 0.1% from fair value. Remember that overnight action in Dow Jones Futures and elsewhere does not necessarily translate into actual trading over the next stock Exchange session.

The 10-year Treasury yield fell on Monday, closing at 2.79% and extending Friday’s losses. In early August, the 10-year rate hit its lowest level since early April, but is now trying to rebound. Meanwhile, US oil prices fell more than 3%, with West Texas Intermediate futures trading below $89 a barrel.

The Federal Reserve’s minutes from its last meeting are due out Wednesday morning. The minutes will likely reveal clues to the central bank’s thoughts on potential interest rate hikes at the September meeting. At the last Fed meetingthe central bank hiked rates by 75 basis points for the second consecutive meeting, and Fed Chairman Jerome Powell indicated that a third such hike “may be appropriate” in September.

What to do in the current stock market rally

The stock market rally remains healthy, with the Dow Jones Industrial Average on a four-day winning streak. The Nasdaq and S&P 500 indexes shrugged off Thursday’s downward reversal and rose for two consecutive sessions.

As the market shows signs of strength, investors have the green light to increase exposure, but keep positions small to start. If a new purchase progresses, increase exposure methodically. There is still a lot of uncertainty for the stock market, so it always makes sense to have a good amount of cash.

Friday’s The Big Picture column commented: “The stock market roared to close its fourth consecutive week on Friday. Indices rose again, with encouraging inflation data emboldening bulls.”

If you’re new to IBD, consider taking a look at its stock trading system and The basics of CAN SLIM. Recognize chart templates is one of the key investment guidelines. IBD offers a wide range of growth stock listingssuch as Ranking and Swing Trader.

Investors can also create watchlists, find companies close to a point of purchaseor develop custom screens to IBD MarketSmith.

Five Dow Jones stocks to watch now

Dow Jones stocks to watch: Coca-Cola, Merck

Dow Jones soda giant Coca Cola is building a flat base that has a buy point of 67.30. A handle entry at 65.14 is also in play. Stocks are rebounding from their 50-day line and approaching the early entry amid Monday’s 1.3% rally.

Merck is also building a flat base, a pattern that shows a buy point of 95.82. Stocks are trying to hold above their 50-day line amid Monday’s 0.5% decline, according to IBD MarketSmith graphical analysis.

MRK Stock shows a solid 94 over a perfect 99 IBD Composite Assessment, speak IBD inventory check. Investors can use the IBD Composite Rating to easily assess the quality of a stock’s fundamental and technical metrics.

4 growth stocks to watch in the currentrStock market rally

Top stocks to watch: Albemarle, Costco, Monolithic, Ollie’s

IBD classification Stock and lithium producer Albemarle is in the buy range after Friday’s breakout after a big cup with a handle of 273.78 point of purchase. The 5% buy zone rises to 287.47. Earlier last week, shares moved above a smaller cup with the 250.25 buy point of the handle. Shares rose 0.9% on Monday, extending a four-session winning streak.

Retail giant Costco is building a mug with handle that boasts a buy point of 552.81. The stock rose 1.6% on Monday and is about 3% off the last entry.

Recent IBD stock of the day Monolithic Power Systems added a handful to a cup base last week, moving the correct buy point from 580.10 to 541.49. Meanwhile, stocks remain above an entry of 514.80. The stock was up 1.7% on Monday.

Ollie’s Bargain Outlet is bouncing back from its 10 week line – a critical support level – placing the leading discount retailer in a new buy zone. Equities also carve out a handle after a large cup base, putting the last buy point at 72.37. The current price action is around 10% of this entry. Shares lost 0.4% on Monday.

Join IBD experts as they analyze the top stocks of the current stock market rally on IBD Live

Tesla Stock

Tesla stock soared 3.1% on Monday, closing at its highest level since May 4. Stocks are once again trying to decisively break above resistance around their 200-day line, which is a key level to watch. The 3-for-1 stock split will take place on August 24.

The stock is about 25% off its 52-week high.

Dow Jones Leaders: Apple, Microsoft

Among Dow Jones Stocks, Apple shares climbed 0.6% on Monday, up for a second straight day. The stock continue to build the right side of a cup base which has a buy point of 179.71. Another interpretation could be a large double bottom that dates back to January. Either way, the point of purchase is the same. Keep an eye out for a potential grip forming and offer a lower entry.

On the upside, the stock’s relative strength line is already reaching new highs, indicating strong stock market outperformance.

Microsoft gained 0.5% on Monday, closing just below its long-term 200-day line, which is a key resistance area to watch. The stock ended about 16% off its 52-week high.

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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