The Dow Jones Industrial Average dropped Tuesday as Wall Street struggled to add to the S&P 500's eight-session win streak. An early winner was Tesla, which rallied on news of tariff cuts for its cars, while Lowe's fell on the stock market today after missing earnings views.
After the opening bell, the Dow Jones Industrial Average fell 0.2%, while the S&P 500 rose 0.1% in morning action. The tech-heavy Nasdaq composite also gained 0.1%. Both the S&P 500 and Nasdaq recorded gains over the last eight trading days. The Dow has a five-day win streak going.
Early Tuesday, the 10-year Treasury yield fell to 3.84%. Oil prices ticked down, as West Texas Intermediate futures stood near $74 per barrel.
Among exchange traded funds, the Invesco QQQ Trust rose 0.1%, while the SPDR S&P 500 ETF gained a fraction after the open.
Early Tuesday, Tesla stock rallied 1.5% after the European Union slashed its proposed tariff on imports of Tesla's China-made vehicles. It set a new reduced rate of 9% for Tesla, lower than the 20.8% it had indicated in July.
Shares of the electric-vehicle giant are tracing the right side of a new base, but it is early in the process.
Wake-Up Calls Still Ringing For Nvidia, Google, Meta And More
Stock Market Today
Key earnings movers Tuesday morning are home improvement retailer Lowe's and cybersecurity leader Palo Alto Networks.
Lowe's stock fell 0.3% Tuesday after missing second-quarter sales estimates and cutting its annual profit and sales outlooks.
Palo Alto shares jumped nearly 6% after the company reported stronger-than-expected earnings and sales results for its fiscal fourth quarter. The company also issued a strong forecast and authorized an additional $500 million for stock repurchases.
Onslaught Of Selling Hammers Nvidia Stock And More. But Rays Of Hope Emerge.
Dow Jones Extends Gains
On Monday, the Dow Jones Industrial Average moved up 0.6%, while the S&P 500 rallied 1%. The tech-heavy Nasdaq composite advanced 1.4%.
During Monday's IBD Live show, the IBD Live team discussed the current trading conditions and how investors should handle the stock market today.
Now is an important time to read The Big Picture column amid the ongoing market action. Also, be sure to read how to adjust to changing market conditions, with IBD's new exposure levels.
Nvidia Cracks Deepen. Don't Ignore Earlier Wake-Up Calls.
Stock Market Today: Best Stocks To Watch
Among the best companies to watch on the stock market today are Birkenstock, Cava, Ferrari, Netflix and Shake Shack.
Also on the list are Dow Jones components Amazon, Apple, IBM, Microsoft and UnitedHealth.
Birkenstock, Ferrari and Netflix featured in this Stocks Near A Buy Zone column.
There were three new stocks on IBD MarketSurge's "Breaking Out Today" list Monday. Trade Desk broke out past a 102.67 buy point. Shares edged up in morning action Tuesday.
Further, there are a handful of stock ideas on the site's "Near Pivot" list. These are top stocks nearing new buy points, like Intuit. Intuit stock is just below a 674.34 cup-with-handle entry. Shares were down a fraction Tuesday.
To find more stock ideas, check IBD Stock Lists like IBD 50, Big Cap 20 and Stocks Near A Buy Zone.
Get Real-Time Buy And Sell Alerts On Stock Market Leaders With IBD Leaderboard
Dow Jones: IBM, UnitedHealth
Among Dow Jones components, UnitedHealth is in buy range above a 554.70 buy point in a cup base, according to MarketSurge pattern recognition. Shares were down 0.3% Tuesday morning.
Meanwhile, IBM is approaching its latest entry, a cup-with-handle buy point at 196.26. IBM stock fell 0.3% Tuesday.
Outside the Dow Jones index, Mediterranean restaurant chain Cava bullishly regained its 50-day line last week. That also offers a buying opportunity for more aggressive investors. Shares are just above a 98.69 entry. Cava stock climbed 0.6% early Tuesday. It is a stock on the IBD SwingTrader list.
Birkenstock is in buy range past a 61.83 flat-base buy point following last week's breakout move. Shares rose 1.5% early Tuesday.
Shares of automaker Ferrari are at the top of their buy range above a 442.80 buy point from a flat base. Ferrari is an IBD Leaderboard stock. Shares revved up another 1% Tuesday morning.
Streaming giant Netflix is building a late-stage cup base with a 697.49 buy point. Netflix stock gained 0.4% Tuesday.
And Shake Shack's recent breakout move past a cup-with-handle entry at 105.68 stumbled Monday. Shares moved up 0.3% early Tuesday
Find The Best Stocks To Buy And Watch With IBD Stock Screener And IBD Screen Of The Day
Stock Market Today: Companies To Watch
These are four stocks in or near buy zones in today's stock market.
| Company Name | Symbol | Correct Buy Point | Type Of Buy Point |
|---|---|---|---|
| Ferrari | 442.80 | Flat base | |
| Shake Shack | 111.29 | Cup base | |
| ServiceNow | 806.52 | Handle entry | |
| Birkenstock | 61.83 | Flat base |
Source: IBD Data as of Aug. 15
Join IBD Experts As They Analyze Leading Stocks In The Stock Market Today On IBD Live
Magnificent Seven Stocks: Nvidia
Among Magnificent Seven stocks, Nvidia dropped 0.5% in morning trading.
On Monday, Nvidia, an IBD Leaderboard stock, jumped another 4.4%, extending its win streak to six sessions and moving closer to its latest buy point. The base has an official 140.76 buy point, but an early entry at 136.15 can be used.
Dow Jones Leaders: Amazon, Apple, Microsoft
Among Dow Jones components in the Magnificent Seven, Amazon, Apple and Microsoft traded mixed after Tuesday's stock market open.
Amazon shares decisively reclaimed their long-term 200-day line during recent gains. The stock lost 0.2% Tuesday morning.
On Monday, Apple stock dipped 0.1%, snapping an eight-day win streak, holding above the 50-day line. Apple rose 0.4% Tuesday.
Microsoft shares gained 0.7%, as they hold below their 50-day line. A new base is forming. And on Tuesday morning, the stock was up 0.4%.
Be sure to follow Scott Lehtonen on X, formerly known as Twitter, at @IBD_SLehtonen for more on growth stocks, the Dow Jones Industrial Average and the stock market today.
