Dow Jones futures wavered Wednesday, and the other major stock indexes fell modestly. Two early movers on the stock market today were Nvidia (NVDA), which hit a new buy trigger, and KB Home (KBH), as it plunged on earnings.
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Indexes At Key Levels; Nvidia, Uber And Tesla Rival BYD Flash Buy Signals
Before the opening bell, Dow Jones futures were just above break-even vs. fair value, as S&P 500 futures edged lower. Nasdaq 100 futures dipped 0.1% in early trading.
Early Wednesday, the 10-year Treasury yield ticked higher to 3.76%. Oil prices fell, with West Texas Intermediate futures trading around $70.36 per barrel.
Among exchange traded funds, the Invesco QQQ Trust (QQQ) was down 0.1%, as the SPDR S&P 500 ETF (SPY) inched lower ahead of the open.
Nvidia stock added nearly 1% Wednesday. Shares rebounded 4% Tuesday, bullishly bouncing from their 50-day moving average. The stock has a 131.26 buy point from an irregular handle. Investors also could use the Sept. 12 high of 120.79 as a much smaller handle and an early buy trigger.
Nvidia, Apple And Tesla Highlight How To Handle This Market
Stock Market Today: KB Home Earnings
Early Wednesday, KB Home dropped nearly 6% after the homebuilder just missed fiscal third-quarter views, and offered a weak outlook.
Just after Wednesday’s market open, at 10 a.m. ET, the Commerce Department is set to report new home sales for August. Sales are expected to fall to 700,000 vs. 739,000 in the prior month, according to Econoday estimates.
On Tuesday, the Dow Jones Industrial Average moved up 0.2% to hit another all-time high. The S&P 500 gained 0.3%, as the tech-heavy Nasdaq composite rose 0.6%.
During Tuesday’s IBD Live show, the IBD Live team discussed the current trading conditions and how investors should handle the stock market.
Apple Holds Off Microsoft And Nvidia. Tesla’s Mag 7 Card In Jeopardy.
Best Stocks To Watch
Among the best companies to watch on the stock market today are Arista Networks (ANET), Spotify (SPOT) and Texas Roadhouse (TXRH).
Notable Dow Jones components are Amazon.com (AMZN), Apple (AAPL), Home Depot (HD), Microsoft (MSFT) and Visa (V).
Spotify and Visa featured in Investor’s Business Daily’s Stocks Near A Buy Zone column.
There were two new stocks on IBD MarketSurge‘s “Breaking Out Today” list Tuesday. Notably, Wingstop (WING) topped a 431.03 entry. And there are more names on the site’s “Near Pivot” list. To find additional stock ideas, check IBD Stock Lists like IBD 50, Big Cap 20 and Stocks Near A Buy Zone.
Keep Trying, Nvidia, But These 19 Stocks Are Already ‘Perfect’
Dow Jones: Home Depot, Visa Near Buy Points
Dow Jones payments stock Visa is sharply below a 290.96 flat-base entry. Shares bounced 0.3% higher Wednesday morning following Tuesday’s tumble.
Further, Home Depot is moving out of buy range past a handle buy point at 378.58, according to MarketSurge pattern recognition. Shares were down 0.1% early Wednesday.
Outside the Dow Jones index, Arista Networks is in a buy zone past a 376.50 buy point in a consolidation. Shares dipped 0.3% Wednesday morning.
Spotify shares are in buy range above a consolidation’s 359.38 entry. The music streaming platform lost 0.5% Wednesday.
Finally, Texas Roadhouse is attempting to break out above a 177.72 flat-base entry. Shares added 0.6% Wednesday.
Find The Best Stocks To Buy And Watch With IBD Stock Screener And IBD Screen Of The Day
Stock Market Today: Companies To Watch
These are four stocks in or near buy zones in today’s stock market.
| Company Name | Symbol | Correct Buy Point | Type Of Buy Point |
|---|---|---|---|
| Ferrari | (RACE) | 442.80 | Flat base |
| Taiwan Semiconductor | (TSM) | 175.45 | Cup with handle |
| ServiceNow | (NOW) | 850.33 | Flat base |
| Uber Technologies | (UBER) | 75.40 | Double bottom |
Source: IBD Data as of Sept. 23
Join IBD Experts As They Analyze Leading Stocks In The Stock Market Today On IBD Live
Magnificent Seven Stocks: Alphabet, Meta, Tesla
Among Magnificent Seven stocks, both Alphabet (GOOGL) and Meta Platforms (META) edged lower Wednesday.
Google-parent Alphabet is testing resistance at the 50-day line following a strong rebound in recent weeks.
Fellow Magnificent Seven stock Meta is in buy range above a 544.23 alternate entry.
Tesla (TSLA) stock skidded nearly 1% Wednesday morning, threatening to lose a part of Tuesday’s 1.7% gain. The electric-vehicle giant is forming a cup base with a 274 buy point after moving past an early entry at 235.
Dow Jones Leaders: Apple Eyes Buy Point
Among Dow Jones components in the Magnificent Seven, Amazon shares are nearing a 201.20 cup-base entry. The stock edged higher Wednesday.
Apple is close to a V-shaped cup with handle that shows a 232.92 entry. Shares fell nearly 1% Wednesday morning.
Microsoft shares are also back above their 50-day line and building a new cup base. And on Wednesday morning, the stock rose 0.2%.
Be sure to follow Scott Lehtonen on X at @IBD_SLehtonen for more on growth stocks, the Dow Jones Industrial Average and the stock market today.
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