Dow Jones stock Nike reported better-than-expected earnings. Nike shares rose by more than 2 percent in extended trade, before dropping 3% on weaker revenue guidance. Monday’s closing price was about 38% lower than its 52-week high.
Next Tesla (TSLA), is expected to announce Q2 sales later this week. FactSet polled analysts and predicted that Tesla would have shipped 273,000 vehicles during the second quarter. The range was between 249,000 to 323,000. Tesla delivered 310,048 vehicles during Q1.
Dow Jones futures declined 0.25 percent against fair value on Monday, while S&P 500 futures fell 0.3% after Monday’s close. Nasdaq 100 futures fell 0.4% vs. fair value.
On Monday increase to 3.12% saw the 10-year Treasury yield rise to 3.19%. After a sharp decline, the 10-year Treasury Yield is now expected to rebound. It reached 3.48% in June, its highest level since April 2011.
While the U.S. oil markets are recovering from recent losses and West Texas Intermediate is being traded at near $110 per bar, prices for crude oil in the U.S. continue to rise. WTI briefly touched $130 at the top in March.
Monday saw the Dow Jones Industrial Average fall 0.2% and the S&P 500 move down 0.3%. The tech-heavy Nasdaq component lost 0.7%. The exchange trade funds dropped 0.7% in the Nasdaq100 tracker Invesco 100 Trust ( QQ), and 0.4% in the SPDR S&P500ETF ( SPY).
Tesla stock dropped 0.3% Monday. Among Dow Jones top-rankers, Apple (AAPL), and Microsoft (MSFT), were unchanged. Stock prices today were 1.05% lower.
Monday’s The Big Picture columns wrote, “The days immediately following a follow-through have just as much importance as the actual follow-through day.” This means that the stock market is on the testing ground of an uptrend. Investors need to be careful this week.
Dow Jones Stocks To Watch:-
Merck and Johnson & Johnson
Johnson & Johnson, Dow Jones’ market leader, is now in buy mode at 181.84 purchase points beyond a double bottom. On Monday, JNJ market shares were slightly lower.
JNJ stock scores a solid 95 of a perfect 99 IBD Composite Ranking, per IBD StockCheckup. This Composite Rating allows investors to quickly gauge the stock’s technical and fundamental metrics.
Merck, the drug company, moved past Monday’s flat base’s 95.02 purchase point. However, it finished just below the entry-level after the session’s 1.4% rise. The 5% buy zone is now at 99.77.
Eli Lilly, AutoZone Bristol, and Quanta
AutoZone gained 0.5% Monday after Goldman Sachs elevated the stock from neutral and bought it with a target price of 2,296. Also said the company is “defensively-positioned” in today’s environment. AZO shares jumped above a cup with handle’s 2,130.60 buy point Friday to reach the buy range of 2,237.13.
Friday’s IBD StockofTheDay, Bristol Myers continues to move higher above a flat base’s 78.72 purchase point following Monday’s 1.3% rise. The 5% buy area reaches 82.66.
IBD SwingTrader stock Eli Lilly returned to new highs last week after bullishly recovering the 50-day mark. The buy zone of 5% is at 329.81. Eli Lilly shares increased 0.5% Monday
IBD leaderboard Quanta Services has been tracing a cup handle with a 138.56 purchase point, according to IBD MarketSmith chart analyses. Stocks are now back above their 50-day line, which is important to watch. Quanta stock rose 1.5% Monday.
Tesla stock lost 0.3% Monday. This was a slight drop in the 4.5% Friday advance. The stock is still well below its 50- and 200-day moving average.
Tesla stock traded as high at 1,243.49 on Nov. 4. The record-high share price is about 40% high than the record.
Apple and Microsoft
Apple market was unchanged Monday among Dow Jones stock. However, they remain at their highest level since June 9th. Still, the stock is well below its 200-day long-term line and is only 23% away from its 52-week high.
Microsoft Software lost 1.05% Monday. It is testing resistance around the 50-day line. The stock closed around 24% lower than its 52-week high.