Dow Jones futures were little changed after hours, along with S&P 500 futures and Nasdaq futures. The stock market started 2023 much like it ended last year, with flashes of strength followed by reversals in the major indexes and leading stocks.
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Apple stock on Tuesday skidded to fresh bear market lows and dropped below a $2 trillion valuation on reports that Apple (AAPL) has cut orders for suppliers for its MacBook, AirPod and Apple Watch products.
Tesla (TSLA) plunged to bear market lows following record fourth-quarter deliveries that still missed lowered views, with concerns of even-bigger demand concerns in 2023.
Investors should wait for clear signs of a sustained stock market rally before making new buys.
LLY stock, Dow Jones giant Caterpillar (CAT) and recent IPO Mobileye (MBLY) are three stocks worth watching. MBLY stock is on the IBD 50. Eli Lilly was Tuesday’s IBD Stock Of The Day.
The video embedded in the article discussed Tuesday’s market action and analyzed CAT stock, Eli Lilly and Mobileye.
Dow Jones Futures Today
Dow Jones futures edged lower vs. fair value. S&P 500 futures were little changed and Nasdaq 100 futures rose 0.2%.
The 10-year Treasury yield fell 6 basis points to 3.73%.
At 10 a.m. ET Wednesday, investors will get the December ISM manufacturing index as well as job openings from the November JOLTS survey. Those are precursors to Friday’s December jobs report.
Remember that overnight action in Dow futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.
Join IBD experts as they analyze actionable stocks in the stock market rally on IBD Live
Stock Market Tuesday
The stock market on Tuesday opened higher but quickly headed south before paring losses significantly in late afternoon trading.
The Dow Jones Industrial Average closed down just a fraction in Tuesday’s stock market trading. The S&P 500 index gave up 0.4%, with Tesla stock by far the worst performer. The Nasdaq composite shed 0.8%. The small-cap Russell 2000 gave up 0.6%.
U.S. crude oil prices tumbled 4.2% to…
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