Dow Jones futures dropped 125 points late Monday, as the stock market weakness continued after the Dow 30 found resistance at a key benchmark. Tesla stock rallied ahead of China sales data Tuesday.
On Monday, the Dow Jones Industrial Average slid 0.7%. The S&P 500 also declined 0.7%, while the Nasdaq dropped 0.6% to end the session at day lows.
Among the Dow Jones leaders, Apple (AAPL) lost just 0.1%, while Microsoft (MSFT) moved down 0.2% in today’s stock market. American Express (AXP), Merck (MRK) and Salesforce.com (CRM) eyed new buy points in the current stock market correction.
Tesla (TSLA) rallied nearly 1% Monday, moving further above the stock’s latest buy point. The EV giant’s China sales for September are expected to be released early Tuesday.
Dow Jones Futures Today
After the stock market close Monday, Dow Jones futures dropped 0.5% vs. fair value, while S&P 500 futures moved down 0.5%. Nasdaq 100 futures declined 0.6% vs. fair value. Remember that trading in Dow Jones futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.
U.S. Stock Market Today Overview
Last Update: 4:38 PM ET 10/11/2021
Stock Market Rally Attempt
The Nasdaq and S&P 500 continue to hold above last week’s correction lows, but both extended Friday’s weakness with moderate losses Monday. Meanwhile, the Dow Jones Industrial Average again found resistance at its 50-day moving average.
On Friday, The Big Picture commented, “With major stock indexes still below their 50-day lines, the stock market is still vulnerable to more downside, but a follow-through day could happen at any time. And stock market bulls are encouraged by the number of growth stocks that continue to show strength and support after earlier breakouts.”
Dow Jones leaders American Express, Merck and Salesforce are blue chip stocks to watch in today’s stock market action.
IBD SwingTrader stock American Express is approaching a 179.77 buy point in a cup with handle,…