The major indexes closed mixed on Tuesday in an uneven session, as indexes climbed into the closing bell. Oracle led the S&P 500 in the stock market today.
The Dow Jones Industrial Average retreated 0.2%, giving back a small portion of Monday's 1.2% gain. The S&P 500 reversed higher and closed with a gain of nearly 0.5% and is now testing potential resistance at its 50-day moving average.
The Nasdaq composite jumped 0.8%. It breached the 17,000 level, although it remains nearly 10% away from prior highs. The technology sector rose more than 3%, giving the tech-heavy Nasdaq its edge.
The Russell 2000 trimmed nearly its entire loss and closed a hair lower.
Volume was lower on the Nasdaq and higher on the NYSE, according to early data. Advancing and declining stocks were nearly even on the Nasdaq and NYSE.
In the bond market, the 10-year Treasury yield shed five basis points to 3.643% — another 52-week low. West Texas intermediate crude oil sank 4.4% to $65.65 a barrel.
2:45 p.m. ET
Stock Market Today: Samsara Hits Profit Target
IBD 50 stock Samsara rose 2.3% and reached the 20% profit zone of a cup-with-handle base with a 39.21 buy point. The stock reached an all-time high Tuesday as it continues to celebrate the better-than-expected earnings results reported Thursday.
Broadcom bolted higher nearly 6% as it recovers from a 10.3% drop after the company's earnings report on Thursday. Shares bounced off the 200-day line Monday within a choppy base but remain about 5% below the 50-day line.
2 p.m. ET
Biotech Stock Plunges
Equinix jumped 3.3% and broke out of a cup-with-handle base with an 843.27 buy point. Shares are in the buy zone up to 885.43. Citic Securities initiated coverage on the data center operator with a buy rating and a 950 price target on Monday. The company operates as a real estate investment trust, or REIT.
Ionis Pharmaceuticals plummeted 12% in heavy volume and knifed though its 200-day line, triggering a sell signal. The company announced late Monday a public offering of 11.5 million shares at a price of $43.50 per share, or 10% below Monday's closing stock price.
12:23 p.m. ET
Financials Sink, Medical Stock Breaks Out
Dow Jones name Goldman Sachs sank more than 3% after its Chief Executive, David Solomon, said the investment bank expects to incur a $400 million pretax loss in Q3 that includes the eventual sale of its General Motors credit-card business and an unrelated business, according to The Wall Street Journal.
Goldman stock sliced below its 50-day line in heavy volume and fell below the buy point from a flat-base breakout in early July.
General Motors stock plunged 6% and fell below its 50-day line on the stock market today. Shares are still forming a cup-with-handle base with a 49.86 entry.
JPMorgan Chase slid more than 6% and was the biggest loser on the Dow. JPMorgan is on track for its largest decrease since April 12, 2024, when it fell 6.47%, according to Dow Jones Market Data. The stock also undercut its 50-day line.
Ally Financial tumbled 16% in huge volume along with other financial stocks Tuesday. The stock sank deep below its 200-day line, triggering a sell signal. Ally slashed its margin guidance, citing an expected increased in charge-offs and delinquencies.
Thermo Fisher Scientific broke out of a flat base with a 622.30 buy point but has fallen back below the buy point. The medical equipment provider reached a 52-week high on the stock market today.
10:34 a.m. ET
Oracle Pops After Earnings Report
Oracle climbed nearly 12% in heavy volume after the database company beat fiscal first-quarter adjusted earnings and sales estimates. It also announced a strategic partnership with Amazon.com's Amazon Web Services, a cloud-services rival.
Oracle stock broke out of a flat base with a 146.59 buy point, according to MarketSurge pattern recognition. A more appropriate buy point would be 155, the high of the first five-minute price bar, giving it a buy zone up to 162.75. The stock and its relative strength line reached 52-week highs on the stock market today. Oracle was the biggest gainer on the S&P 500 so far Tuesday.
Amazon.com stock gained 2.1%. Shares are have been climbing back after an 8.8% drop after its Q2 earnings report on Aug. 1. Shares are tightening up but remain below their 50-day line in an irregular base.
Apple stock pulled back about 1% after the European Union's highest court ruled against the company in a dispute over Apple's tax payments due to Ireland. The result handed Apple a tax bill of approximately $14.4 billion. Shares are below their 50-day line in a V-shaped cup-with-handle base. This comes on the heels of Apple's product launch featuring its AI-enabled iPhone 16 smartphone series on Monday.
Nvidia stock tacked on 0.8% on top of Monday's 3.5% gain. Shares remain below their 50-day line on the stock market today.
Futures: Trump-Harris Debate, Inflation Report In Focus
Boot Retailer Surges After Earnings
Boot Barn Holdings popped more than 9% in heavy trading after the boot and Western apparel retailer provided preliminary numbers for its fiscal second quarter. It announced its same-store sales rose 4% in the first 10 weeks of its Q2. Shares are extended from a buy zone that went up to 141.34. Boot Barn stock reached an all-time high on the stock market today.
Avocado producer Mission Produce jumped around 20% in enormous volume following the company's huge beat on fiscal third-quarter results. Shares are in a sloppy cup base with an official buy point of 13, but early entries can be seen at 11.51 and 12.52.
Rival avocado producer Calavo Growers rose more than 12% in huge volume in sympathy on the stock market today.
Follow Kimberley Koenig for more stock market news on X/Twitter @IBD_KKoenig.
