Dow Jones Futures Fall As Stock Market Sell-Off Worsens; These 5 Tech Giants Tumble

Dow Jones futures briefly dropped 150 factors late Monday following the session’s inventory market sell-off. Tech giants Apple, Microsoft, Nvidia, PayPal and Square tumbled, whereas Tesla inventory rallied on robust deliveries Monday.


On Monday, the Dow Jones Industrial Average slid 0.9%. The S&P 500 tumbled 1.3%, whereas the Nasdaq plunged 2.1% even after paring some losses.

Among the Dow Jones leaders, Apple (AAPL) slid 2.5%, whereas Microsoft (MSFT) moved down 2.1% in right now’s inventory market. American Express (AXP) and Merck (MRK) are holding up effectively within the present inventory market correction.

Tesla (TSLA) rallied almost 1% on the again of robust deliveries, transferring additional above the inventory’s newest purchase level. Tech giants Nvidia (NVDA), PayPal (PYPL) and Square (SQ) all offered off sharply.

Among the highest shares to observe, Netflix (NFLX) and ServiceNow (NOW) have been holding up comparatively effectively throughout Monday’s inventory market weak spot.

Microsoft, ServiceNow and Tesla are IBD Leaderboard shares. American Express is an IBD SwingTrader inventory. Netflix featured on this week’s Stocks Near A Buy Zone column.

Dow Jones Futures Today

After the inventory market shut Monday, Dow Jones futures misplaced 0.25% vs. honest worth, whereas S&P 500 futures fell 0.2%. Nasdaq 100 futures moved up lower than 0.1% vs. honest worth. Remember that buying and selling in Dow Jones futures and elsewhere does not essentially translate into precise buying and selling within the subsequent common inventory market session.

U.S. Stock Market Today Overview

Index Symbol Price Gain/Loss % Change
Dow Jones (0DJIA) 34003.58 -322.88 -0.94
S&P 500 (0S&P5) 4300.48 -56.56 -1.30
Nasdaq (0NDQC ) 14255.49 -311.21 -2.14
Russell 2000 (IWM) 220.27 -2.01 -0.90
IBD 50 (FFTY) 45.85 -1.27 -2.70
Last Update: 4:34 PM ET 10/4/2021

Among trade traded funds, Innovator IBD 50 (FFTY) dropped 2.8% Monday. Nasdaq 100 tracker Invesco QQQ Trust (QQQ) misplaced 2.1%. And the SPDR S&P 500 ETF (SPY) descended 1.3%.

Stock Market Correction

The Nasdaq and S&P 500 tumbled to new current lows Monday, as the present inventory market correction worsened. The Nasdaq closed at its lowest degree since June 22 and could possibly be headed for a check of its long-term 200-day transferring common. Meanwhile, the Dow Jones Industrial Average nearly gave again everything of Friday’s 1.4% advance, however held above its current lows.

Friday’s The Big Picture commented, “With the inventory market in a correction, keep away from the temptation of shopping for shares in a down-trending market. There will all the time be shares displaying power, however a weak market can ultimately convey the whole lot down with it. If market situations proceed to enhance amid renewed indicators of institutional shopping for, new setups ought to emerge. A affirmation of power may come as early as subsequent week.”

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Dow Jones Stocks To Watch: American Express, Merck

Dow Jones leaders American Express and Merck are blue chip shares to observe in right now’s inventory market motion.

IBD SwingTrader inventory American Express is approaching a 179.77 purchase level in a cup with deal with, in line with IBD MarketSmith chart evaluation. But shares reversed from early features to say no 0.7% Monday, and are about 4% away from the brand new entry.

Merck added to Friday’s surge, rallying 2.1% Monday. On Friday, Merck mentioned its Covid tablet diminished the danger of hospitalization by half in a final-phase examine. Merck inventory broke out previous a 79.33 purchase level in a flat base.

Stocks On The Move: Nvidia, PayPal, Square

Tech giants Nvidia, PayPal and Square offered off sharply Monday.

Nvidia inventory dropped 4.85% Monday. On Sept. 20, the inventory triggered the round-trip promote sign from a 207.43 purchase level in a cup with deal with. Investors ought to promote when a inventory offers up everything of a double-digit acquire to keep away from taking a loss. Now, the inventory is about 5% beneath the previous purchase level.

PayPal slid 3.6%, falling additional beneath its long-term 200-day line. Shares are almost 20% from their 52-week excessive.

Square tumbled 5.45%, decisively breaking down beneath the 200-day transferring common. The prime fee inventory is about 22% beneath its Aug. 5 all-time excessive.

Stocks To Watch: Netflix, ServiceNow

FANG inventory chief Netflix continues to carry inside a brand new purchase zone regardless of Monday’s 1.6% bearish reversal. Shares are within the 5% purchase zone previous a 593.39 entry level in a consolidation amid the current world success of its sequence “Squid Game.”

According to IBD Stock Checkup, NFLX inventory reveals a powerful 97 out of an ideal 99 IBD Composite Rating. The IBD Composite Rating identifies shares with a mix of robust elementary and technical traits.

IBD Leaderboard inventory ServiceNow is looking for help round its key 50-day transferring common regardless of a weak general market. But shares declined over 2% Monday, closing beneath that key benchmark.

Bullishly, the inventory’s relative power line hit a current excessive in late September, indicating shares are holding up effectively amid the present inventory market volatility. But now the inventory is underneath stress once more. During weak markets, search for shares which might be holding up the most effective. When the market rebounds, these names might be among the subsequent prime shares to observe.

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Tesla Stock

Tesla inventory rallied 0.8% Monday after the corporate reported report third-quarter deliveries on Saturday. The electric-vehicle big reported deliveries that totaled 241,300 vehicles for the third quarter, up from 201,250 within the second quarter and 184,800 within the first quarter. FactSet analyst estimates ranged from 218,000 to 246,000, with the consensus at 232,000.

Shares snapped a two-day shedding streak Monday and closed additional above a 764.55 purchase level in a cup with deal with.

TSLA shares closed about 13% away from report highs. On Jan. 25, Tesla inventory hit a report excessive of 900.40, after climbing as a lot as 93% from a 466 purchase level in a cup-with-handle sample.

Dow Jones Leaders: Apple, Microsoft

Among the highest Dow Jones shares, Apple moved down 2.5% Monday, giving again all of Friday’s 0.8% acquire. The inventory remains to be beneath the 50-day line.

Software big Microsoft fell 2.1% Monday, because the inventory continues its commerce beneath the 50-day line. A brand new flat base is forming with a 305.94 purchase level.

Be certain to observe Scott Lehtonen on Twitter at @IBD_SLehtonen for extra on progress shares and the Dow Jones Industrial Average.


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