Dow Jones futures moved higher early Tuesday, with cease-fire talks between Russia and Ukraine underway in Turkey. Treasury yields continued their recent rise, while U.S. oil prices leaned lower following Monday’s dive. Shares of Dow Jones tech titan Apple, along with Tesla are rapidly approaching buy points.
Amid a strengthening stock market uptrend, investors have the green light to continually raise exposure by buying top stocks breaking out past proper buy points. You can find stock ideas by monitoring IBD’s proprietary watchlists, like the IBD 50 and the IBD Big Cap 20.
Stock Market Today
Among the Dow Jones leaders, Apple (AAPL) rallied 0.3% Tuesday morning and Microsoft (MSFT) inched higher in today’s stock market. UnitedHealth, a Dow Jones stock to watch, remains in buy range after a recent breakout.
Amid the volatile, headline-driven market, IBD Leaderboard stock Arista Networks (ANET), Broadcom (AVGO), CVS Health (CVS), European Wax Center (EWCZ) and Regeneron Pharmaceuticals (REGN) are Tuesday’s top stocks to buy and watch.
Microsoft and Tesla are IBD Leaderboard stocks. Arista is an IBD SwingTrader stock. Apple was featured in this week’s Stocks Near A Buy Zone column. European Wax Center was last week’s IPO Stock Of The Week.
Dow Jones Futures Today: Oil Prices, Treasury Yields, Russia-Ukraine Talks
As the market heads into the final two sessions of the first quarter, Dow Jones futures rose 0.8% vs. fair value. The index is poised just below its 200-day moving average, and within easy striking distance of the 35,000 level.
S&P 500 futures gained 0.85%. Nasdaq 100 futures were up 1.2% vs. fair value. All three of the big benchmark indexes are angling toward a third-straight weekly advance. Remember that overnight action in Dow futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.
The 10-year U.S. Treasury yield ticked higher to 2.51% Tuesday, holding at its highest level since May 2019. U.S. oil prices dipped more than 1% Tuesday, following a pullback on Monday. West Texas Intermediate crude traded below $105 a barrel.
Russia-Ukraine cease-fire talks — being held in Istanbul — started Tuesday morning. Expectations for any real progress were reportedly low heading into the negotiations. Previous talks between the Russian and Ukrainian foreign ministers ended with no agreements on a cease-fire or other humanitarian issues.
Stock Market Rally
The stock market posted positive results Monday, as the Nasdaq and S&P 500 ended with solid gains. For more daily stock market commentary, check out IBD’s The Big Picture column.
Monday’s The Big Picture column commented, “The S&P 500 rallied for the fourth time in five sessions and for the eighth time 10 days. A 0.7% ascent gave the large-cap benchmark further distance above its 50-day moving average. The 21-day exponential moving average, meanwhile, poked above the 50-day line for the first time since Jan. 18.”
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