Dow Jones futures dropped Wednesday morning, as the major stock indexes threatened to fall again after consecutive stock market sell-offs Monday and Tuesday. Apple and Tesla stock traded sharply lower ahead of the market open.


Academy Sports + Outdoors (ASO), MongoDB (MDB), discount retailer Ollie’s Bargain Outlets (OLLI), Thor Industries (THO) and homebuilder Toll Brothers (TOL) all reported earnings ahead of Wednesday’s market open.

Academy shares lost more than 2% after the company’s results, while MDB stock rocketed more than 25% after a big earnings beat. Ollie’s shares dropped 8%, while Thor Industries rallied nearly 4%. And Toll Brothers climbed around 1% in premarket trade, after reporting better-than-expected results late Tuesday.

Solar stock Enphase Energy (ENPH) dropped less than 1% despite being called a top pick at Wells Fargo. Enphase shares fell below a 316.97 buy point Tuesday. SolarEdge Technologies (SEDG) jumped nearly 2% on a BofA Securities upgrade from neutral to buy. Mastercard (MA) moved slightly lower Wednesday morning after the company announced a $9 billion share buyback program.

Electric-vehicle giant Tesla (TSLA) traded down nearly 3% Wednesday. Dow Jones tech leaders Apple (AAPL) and Microsoft (MSFT) were sharply lower ahead of today’s stock market open.

Celsius (CELH), Chubb (CB), IBD Leaderboard stock Dexcom (DXCM) and KLA (KLAC) — as well as Dow Jones names Caterpillar (CAT) and Chevron (CVX) and Home Depot (HD)— are among the top stocks to buy and watch.

Dexcom is an IBD Leaderboard stock. Caterpillar and Home Depot were featured in this week’s Stocks Near A Buy Zone column. Celsius was a recent IBD 50 Stocks To Watch pick and a New America stock. Caterpillar was Thursday’s Stock Of The Day.

IBD’s latest newsletter MarketDiem gives you actionable ideas for stocks, options and crypto right in your inbox.

Dow Jones Today: Oil Prices, Treasury Yields

Ahead of Wednesday’s opening bell, Dow Jones futures fell 0.1% vs. fair value, while S&P 500 futures dropped 0.4%. The tech-heavy Nasdaq 100 futures pared losses to 0.6% below fair value in morning action.

Among exchange-traded funds, the Nasdaq 100 tracker Invesco QQQ Trust (QQQ) declined 0.6% and the SPDR S&P 500 ETF (SPY) lost 0.4% early Wednesday.

The 10-year Treasury yield ticked higher to 3.55% Wednesday morning, looking to rebound from Tuesday’s losses. Meanwhile, U.S. oil prices bounced slightly after three straight heavy losses, giving back nearly all of the prior week’s advance. West Texas Intermediate futures traded up 1% to above $74 a barrel after briefly dipping below $73 a barrel early Wednesday.

Stock Market Rally

On Tuesday, the stock market posted a second consecutive session of heavy losses, as the tech-heavy Nasdaq composite dived another 2%. The Dow Jones Industrial Average sold off 1%, while the S&P 500 tumbled 1.4%.

Tuesday’s The Big Picture commented, “The blue chip index fell 1.4% Tuesday, erasing all gains from Wednesday’s 3.1% burst after Fed Chair Jerome Powell’s speech. This week’s losses dropped the index back below the 4,000 level and the 200-day moving average — two important guideposts for the stock market.”

Now is an important time to read IBD’s The Big Picture column amid the ongoing stock market volatility.

Five Dow Jones Stocks To Buy And Watch Now

Dow Jones Stocks To Buy And Watch: Caterpillar, Home Depot, Chevron

Dow Jones member Caterpillar continues to drift further away from a cup base’s 238 buy point, according to IBD MarketSmith pattern recognition, in the wake of Tuesday’s 1.8% loss. CAT stock was down 0.8% Wednesday. 

CAT stock shows a solid 94 out of a perfect 99 IBD Composite Rating, per the IBD Stock Checkup.

Energy giant Chevron slipped 2.6% Tuesday, ending further below a 182.50 buy point in a consolidation base. CVX shares fell 0.5% Wednesday morning, as oil prices paused amid this week’s drop.

Home improvement retailer Home Depot ended Tuesday about 5% below a cup base’s 333.08 buy point. HD stock traded 0.5% lower Wednesday.

4 Top Growth Stocks To Watch In The Current Stock Market Rally

Top Stocks To Buy And Watch: Celsius, Chubb, Dexcom, KLA

Energy-drink maker Celsius was a lone bright spot during Tuesday’s stock market sell-off, climbing 0.5%. Shares are about 3% below a cup base’s 118.29 buy point. The stock was down a fraction Wednesday.

Chubb moved further above a cup-with-handle’s 216.10 buy point Tuesday after the session’s 1% rise. The 5% buy area tops out at 226.91. The insurance giant traded unchanged Wednesday morning.

IBD Leaderboard stock Dexcom is approaching an alternate entry at 123.46 and is about 5% away from that buy point amid Tuesday’s 0.2% rise. Dexcom stock was flat early Wednesday.

Chip leader KLA finished Tuesday just below a 392.60 buy point, according to IBD MarketSmith chart analysis. A key technical strength is the stock’s strong RS line. It hit another new high during Tuesday’s stock market dive. KLA stock was down more than 1% Wednesday.

Join IBD experts as they analyze leading stocks in the current stock market rally on IBD Live

Tesla Stock

Tesla stock skidded another 1.4% Tuesday, adding to Monday’s plunge. Despite the recent losses, the stock is holding above its recent lows, set in mid-November. Shares are about 55% off their 52-week high. Meanwhile, the stock appears to be seeing some resistance around the 200 price level, which is a key area to watch if the stock is able to mount another rally attempt.

Shares slid another 2.7% Wednesday morning.

Dow Jones Leaders: Apple, Microsoft

Among Dow Jones stocks, Apple shares sold off 2.5% Tuesday, giving up support around their 50-day line. The stock is more than 20% off its 52-week high. Apple stock traded down 1.5% Wednesday.

Microsoft faltered 2% Tuesday, as shares continue to tread water above the 50-day line. The software giant remains about 29% off its 52-week high. Microsoft shares ceded 1.2% early Wednesday.

Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones Industrial Average.


Top Growth Stocks To Buy And Watch

Learn How To Time The Market With IBD’s ETF Market Strategy

Find The Best Long-Term Investments With IBD Long-Term Leaders

MarketSmith: Research, Charts, Data And Coaching All In One Place

How To Research Growth Stocks: Why This IBD Tool Simplifies The Search For Top Stocks

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