Dow Jones Futures Rise Ahead Of Tuesday’s CPI Inflation Rate Data
Dow Jones futures were higher after Monday’s stock market rally ahead of Tuesday’s key inflation reading, the Labor Department’s consumer price index, or CPI. Apple stock made a bullish move Monday, decisively retaking its long-term 200-day line.
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Stock Market Today
On Monday, the Dow Jones Industrial Average advanced 0.7%, while the S&P 500 rose 1.1%. The tech-heavy Nasdaq composite rallied 1.3%. And the small-cap Russell 2000 gained 1.2%.
Among exchange traded funds, the Nasdaq 100 tracker Invesco QQQ Trust (QQQ) moved up 1.2%, and SPDR S&P 500 (SPY) climbed 1.1%.
U.S. Stock Market Today Overview |
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|---|---|---|---|---|
| Index | Symbol | Price | Gain/Loss | % Change |
| Dow Jones | (0DJIA) | 32383.18 | +231.47 | +0.72 |
| S&P 500 | (0S&P5) | 4110.69 | +43.33 | +1.07 |
| Nasdaq | (0NDQC ) | 12266.41 | +154.10 | +1.27 |
| Russell 2000 | (IWM) | 189.73 | +2.33 | +1.24 |
| IBD 50 | (FFTY) | 28.52 | +0.13 | +0.46 |
Last Update: 4:24 PM ET 9/12/2022 |
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EV giant Tesla (TSLA) rallied 1.6% Monday. Among Dow Jones leaders, Apple (AAPL) and Microsoft (MSFT) traded up 3.85% and 0.8%, respectively, in today’s stock market.
In the market’s current volatility, Arista Networks (ANET), DoubleVerify (DV), Palo Alto Networks (PANW) and Pure Storage (PSTG) — as well as Dow Jones stock Chevron (CVX) — are among the top stocks to buy and watch. Keep in mind the market’s increased volatility is a good reason for investors to be more defensive, although recent indicators are constructive.
DoubleVerify is an IBD Leaderboard stock. Pure Storage is an IBD SwingTrader stock, while Chevron and Palo Alto were featured in this week’s Stocks Near A Buy Zone column.
Dow Jones Futures Today: Treasury Yields, Oil Prices, CPI Inflation Rate
Ahead of Tuesday’s open, Dow Jones futures rose 0.1% vs. fair value, while S&P 500 futures and Nasdaq 100 futures also tilted higher. Remember that overnight action in Dow Jones futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.
The 10-year Treasury yield ticked higher to 3.36% Monday, notching its highest closing level since June 15. U.S. oil prices added to last week’s late gains, climbing more than 1% Monday. West Texas Intermediate futures traded back near $88 a barrel.
The Labor Department’s CPI inflation rate is due out Tuesday at 8:30 a.m. ET. Consumer prices are expected to fall 0.1% in August vs. the previous month. Inflation is expected to rise 8.0% in August from a year ago. The Producer Price index, which measures wholesale inflation, will be out Wednesday.
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What To Do In The Stock Market Rally
Despite constructive gains in recent sessions, the ongoing stock market volatility keeps IBD’s market outlook at “uptrend under pressure.”
If the market is able to mount a serious rebound, then you should have a watchlist of leading stocks that are approaching buy points. Some follow-on opportunities also may appear.
The best way to find emerging stock market leadership is by using the relative strength line. The RS line measures a stock’s price performance vs. the S&P 500. If the stock is outperforming the broader market, the RS line angles upward. If a stock lags the broad…
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