The Dow Jones Industrial Average rose Wednesday, while the other major stock indexes dropped following Tuesday's stock market weakness. Two early movers on the stock market today were Morgan Stanley and Apple, the latter of which cleared a buy point Tuesday.
After the opening bell, the Dow Jones Industrial Average rose 0.3%, while the S&P 500 fell 0.1%. The tech-heavy Nasdaq composite moved down 0.4% in early trading.
Early Wednesday, the 10-year Treasury yield ticked lower to 4.01%. Oil prices rose, with West Texas Intermediate futures trading around $70.75 per barrel.
Among exchange traded funds, the Invesco QQQ Trust was down 0.4%, as the SPDR S&P 500 ETF declined 0.1% after the open.
Apple shares looked to extend a win streak to three sessions, but dropped 1.4% Wednesday morning, falling below their recent buy point. On Tuesday, the Dow Jones tech titan broke out past a 233.09 buy point in a cup with handle. Apple stock also hit a record high as it briefly cleared another entry at 237.23 off a 13-week consolidation.
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Morgan Stanley rallied 7% Wednesday morning after the company beat third-quarter earnings and sales estimates. Shares closed Tuesday in buy range above a 109.11 entry.
Other key earnings movers Wednesday morning include Interactive Brokers and United Airlines.
Interactive Brokers shares tumbled 3% in morning trading, while United Airlines stock climbed 8% in early action.
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On Tuesday, the Dow Jones Industrial Average and the S&P 500 both declined 0.8%. And the tech-heavy Nasdaq composite sold off 1%.
During Tuesday's IBD Live show, the IBD Live team discussed the current trading conditions and how investors should handle the stock market fall.
Among the best companies to watch on the stock market today are Ryan Specialty, Texas Roadhouse, Toast and Uber Technologies.
Notable Dow Jones components are Amazon.com, Apple, JPMorgan Chase and Microsoft.
Uber and JPMorgan featured in this Stocks Near A Buy Zone column.
There were five new stocks on IBD MarketSurge's "Breaking Out Today" list Tuesday. Notably, Raymond James Financial topped a 131.19 entry. Check for more names on the site's "Near Pivot" list. To find additional stock ideas, check IBD Stock Lists like IBD 50, Big Cap 20 and Stocks Near A Buy Zone.
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Dow Jones: JPMorgan Nears Buy Point
Dow Jones financial leader JPMorgan closed within striking distance of a flat base's 225.48 buy point, according to MarketSurge pattern recognition. Shares fell 0.3% early Wednesday.
Outside the Dow Jones index, insurance leader Ryan Specialty is in the buy range above a 69.03 flat-base entry following a recent breakout move. Shares dropped 0.8% Wednesday.
Texas Roadhouse decisively reclaimed a 177.72 flat-base entry during Tuesday's 3.2% advance. Shares inched lower Wednesday.
Restaurant software provider Toast is in a buy zone above its 27.88 buy point despite recent losses. The stock moved up 0.6% early Wednesday.
Finally, Uber Technologies remains in buy range past a 82.14 buy point in a consolidation even after two straight declines. Uber stock dipped 0.2% Wednesday morning.
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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 | 498.23 | Flat base | |
| Taiwan Semiconductor | 175.45 | Cup with handle | |
| ServiceNow | 850.33 | Flat base | |
| Uber Technologies | 82.14 | Consolidation |
Source: IBD Data as of Oct. 14
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Magnificent Seven Stocks: Alphabet, Meta, Nvidia, Tesla
Among Magnificent Seven stocks, Alphabet fell 0.9%, while Meta Platforms declined 1.6% Wednesday.
Google-parent Alphabet is finding support around the 50-day moving average following a rebound in recent sessions. The stock has yet to offer a new buy point.
Meta stock hit a new high last week, further above a 544.23 alternate entry.
Nvidia shares bounced 0.4% Wednesday morning, holding just above a 131.26 buy point from an irregular handle following Tuesday's slide. Shares are also falling from their all-time intraday high of 140.76, which was set on June 20.
Tesla shares looked to extend a win streak to three sessions Wednesday morning, as they edged higher. Last week, Tesla stock dived below its 50-day line, but is still trading in the handle portion of a cup base that has a 264.86 buy point.
Dow Jones Leaders: Amazon, Microsoft
Among Dow Jones components in the Magnificent Seven, Amazon shares are bouncing from their 50-day line, near a 195.37 buy point in a cup with handle. The stock dropped 0.5% Wednesday.
Microsoft shares are trying to regain their 50-day line and are near a handle buy point at 441.85. And on Wednesday morning, the stock fell 1.8%.
Be sure to follow Scott Lehtonen on X at @IBD_SLehtonen for more on growth stocks, the Dow Jones Industrial Average and the stock market today.
