The Dow Jones Industrial Average and other major stock indexes traded mixed Tuesday, as Wall Street digested President-elect Donald Trump's tariff threat on China, Canada and Mexico. After tumbling in the last session, Nvidia was trying to stay at a key support level on the stock market today.
After the opening bell, the Dow Jones Industrial Average fell 0.6%, while the S&P 500 moved up 0.2%. The tech-heavy Nasdaq composite traded up 0.5% in morning trading.
Early Tuesday, the 10-year Treasury yield ticked higher to just under 4.3%. Oil prices climbed, as West Texas Intermediate futures traded around $69.55 per barrel.
Among exchange traded funds, the Invesco QQQ Trust moved up 0.5%, as the SPDR S&P 500 ETF gained 0.2% after the open.
Late Monday, Trump said he plans to impose big tariffs on goods coming from China, Canada and Mexico the first day he takes office, citing fentanyl shipments and illegal immigration. That includes a 10% additional tariff on Chinese goods and 25% tariffs on products coming from Canada and Mexico.
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Stock Market Today: Nvidia At Key Level
Nvidia stock rebounded 1% Tuesday following two days of heavy losses. The artificial intelligence titan is back at its 10-week moving average line, an important area to watch. If the stock breaks that level in heavy volume, then further downside would be likely. Conversely, a decisive rebound would place the AI stock in a new buy area.
Meanwhile, the stock has already made a huge move since bottoming out in October 2022. Its breakout in October of this year was from a late-stage base. Such formations entail more risk than first- and second-stage bases.
Key earnings movers Tuesday morning include Abercrombie & Fitch, Best Buy, Burlington Stores, Dick's Sporting Goods and Kohl's.
Shares of retailer Abercrombie slipped 4%, while Best Buy stock dropped 8%. Burlington sank 2.5%, as shares of Dick's edged higher in early trading. Finally, Kohl's stock plummeted more than 22% in morning action.
Elsewhere, the Commerce Department's new home sales for October fell to an annual rate of 610,000. Home sales were seen falling to an annual rate of 725,000 vs. September's 738,000, according to estimates from Econoday.
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Dow Jones Hits New High
On Monday, the Dow Jones Industrial Average rallied 1%, hitting an all-time high, while the S&P 500 and the Nasdaq composite rose 0.3% each.
Among the best companies to watch on the stock market today are Broadcom, Heico, Cloudflare and Tradeweb Markets.
Dow Jones components making notable moves are Amazon.com, Apple, Microsoft and Sherwin-Williams.
Sherwin-Williams and Cloudflare featured in this Stocks Near A Buy Zone column.
There was one new stock on IBD MarketSurge's "Breaking Out Today" list Monday, namely Oceaneering International, which topped a 30.45 entry. Check for potential breakouts on the "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: Sherwin-Williams Breaks Out
Dow Jones leader Sherwin-Williams is breaking out past a 392.57 buy point in a flat base, according to MarketSurge pattern recognition. Shares fell 0.4% Tuesday.
Outside the Dow Jones index, artificial intelligence giant Broadcom remains below its 50-day moving average, as it continues to build a flat base that has a 186.42 entry. Broadcom shares rose 0.4% Tuesday.
Heico is in buy range above its flat base's 269.38 buy point and is a recent IBD Stock Of The Day. Shares fell 0.2% early Tuesday.
Cloudflare broke out last week, topping a 99.17 buy point in a cup with handle. The 5% buy zone runs up to 104.13, so shares are barely in buy range. Cloudflare stock climbed 0.8% Tuesday.
Finally, Tradeweb closed Tuesday just below a 136.13 entry in a flat base. Tradeweb stock was down 0.4% Tuesday.
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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 |
|---|---|---|---|
| Tradeweb | 136.13 | Flat base | |
| Costco Wholesale | 923.83 | Flat base | |
| Broadcom | 186.42 | Handle entry | |
| Deckers Brands | 172.57 | Handle entry |
Source: IBD Data as of Nov. 20
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Magnificent Seven Stocks: Alphabet, Meta, Tesla
Among Magnificent Seven stocks, Alphabet rose 0.1% in morning trading. Shares plunged below their 50-day line last week, but are trying to rebound.
Meta Platforms is trading below its 50-day line amid recent declines, but is still near a flat base's 602.95 buy point. Shares were up 0.9% Tuesday.
Tesla added 1.1% in morning action Tuesday. It reversed off new highs Monday, and skidded 4%. Shares are sharply extended past a 264.86 cup-with-handle entry.
Dow Jones Leaders: Amazon, Apple, Microsoft
Among Dow Jones components in the Magnificent Seven, Amazon stock snapped a three-day losing streak Monday, and added 2.3% Tuesday. Amazon shares are just above a consolidation's 201.20 buy point.
Shares of Apple are trending narrowly above their 50-day line, as they build a flat base with a 237.49 entry. The stock rose 0.5% Tuesday morning.
Microsoft shares were up 1.5% Tuesday morning. The stock remains below its 50-day line, a key level to watch.
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.
