Home Artificial Intelligence Stock Market Today: Dow Jones Rises As AI Stock ASML Dives On Weak Sales

Stock Market Today: Dow Jones Rises As AI Stock ASML Dives On Weak Sales

The Dow Jones Industrial Average and the other major stock indexes rose Wednesday, as the S&P 500 and Nasdaq looked to end a three-day losing streak. Blue-chip component Travelers (TRV) tumbled on the stock market today along with artificial intelligence player ASML (ASML) after the two companies reported earnings.


The Dow Jones Industrial Average rose 0.3% in morning action, and the S&P 500 climbed 0.5%. The tech-focused Nasdaq composite gained 0.5% after the opening bell.

Early Wednesday, the 10-year Treasury yield dipped to 4.61%. Further, oil prices slipped, as West Texas Intermediate futures traded around $84.20 a barrel.

Among U.S. exchange traded funds, the Nasdaq 100 tracker Invesco QQQ Trust ETF (QQQ) was up 0.4%, and the SPDR S&P 500 ETF (SPY) rose 0.5%.

Stock Market Today: ASML Stock Tumbles

Chip equipment giant ASML beat estimates for earnings in the first quarter but missed views on sales. Its outlook also was below expectations. ASML stock dropped 4.1% in morning trading.

ASML stock is on five IBD lists: Leaderboard, IBD 50Big Cap 20Global Leaders and Tech Leaders. Shares were forming a flat base with a buy point of 1,056.34, according to IBD MarketSurge charts.

Other key earnings movers Wednesday included Interactive Brokers (IBKR), United Airlines (UAL) and Travelers.

Interactive Brokers shares rallied 4%, while United Airlines stock jumped more than 7%. And Travelers shares sold off more than 7% in early trading.

Be sure to read how to adjust to changing market conditions, with IBD’s new exposure levels.

Dow Jones Moves Higher; S&P and Nasdaq Sink

On Tuesday, the Dow Jones Industrial Average moved up 0.2%, while the S&P 500 dropped 0.2%. The tech-heavy Nasdaq composite moved down 0.1%.

Tuesday’s Big Picture column commented, “The Nasdaq composite on Monday marked its seventh distribution day since March 14, prompting IBD to lower stock market exposure to 20%-40% invested. Besides an elevated distribution-day count, the stock market is also dealing with weak breadth and higher interest rates. All three factors are considerable headwinds for the stock market, along with tensions in the Middle East.”

Now is an important time to read IBD’s The Big Picture column amid the continuing stock market rally. Be sure to read how to adjust to changing market conditions, with IBD’s new exposure levels.

Learn How To Time The Stock Market With IBD’s ETF Market Strategy

Best Stocks To Watch On Stock Market Today

Broadcom (AVGO), DraftKings (DKNG), On Holdings (ONON) and ServiceNow (NOW) — plus Dow Jones components American Express (AXP) and Verizon Communications (VZ) — are among the best companies to watch on the stock market today.

On Holdings is featured in this Stocks Near A Buy Zone column.

An essential resource for daily breakouts is IBD MarketSurge’s “Breaking Out Today” list. It shows MarketSurge Growth 250 stocks that are breaking out past new buy points. Also, the MarketSurge “Near Pivot” list shows stocks nearing buy points in bases.

To find more stock ideas, check IBD Stock Lists like IBD 50Big Cap 20 and Stocks Near A Buy Zone. These features identify bullish patterns and buy points and are available to check every day.

Get Real-Time Buy And Sell Alerts On Stock Market Leaders With IBD Leaderboard

Dow Jones: American Express, Verizon

American Express is trying to find support around its 50-day moving average, according to MarketSurge charts. A rebound would give the payments leader a new buying opportunity. But investors need to wait for a decisive recovery. American Express stock gained 0.2% morning trades Wednesday.

Telecom giant Verizon’s recent breakout attempt failed in recent sessions, as it fell more than 7% below a 43.21 buy point. Verizon shares were up marginally Wednesday morning.

4 Top Growth Stocks To Watch In The Stock Market Rally

Stock Market Today: Broadcom Eyes Buy Point

AI player Broadcom continues to build a short consolidation with a 1,438.17 buy point, according to MarketSurge charts. The price action looks like a flat base, but it’s slightly too deep with a range of more than 16%. The maximum depth of a flat base is 15%. And shares are searching for support at the 50-day line. Broadcom stock rose 0.8% Wednesday.

DraftKings remains below its 46.52 buy point in a short consolidation despite Tuesday’s 2.9% rally. Shares are also trying to rebound from their 50-day line. And the sports-betting giant was up 1.6% Wednesday morning.

Retail leader On Holdings is looking to rebound from its 50-day line, which would place the stock in a new buy area. On stock moved up 2.2% early Wednesday.

ServiceNow decisively gave up its 50-day line during Monday’s losses. Shares continue to build a flat base with a 815.32 entry, but they have a lot of work ahead of them before a potential breakout. The stock gained 0.2% early Wednesday.

IBD’s latest newsletter MarketDiem gives you actionable ideas for stocks, options and crypto right in your inbox

Stocks 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
Disney (DIS) 112.92 Cup with handle
Broadcom (AVGO) 1,438.17 Consolidation
DraftKings (DKNG) 45.62 Consolidation
ServiceNow (NOW) 815.32 Flat base
Source: IBD Data As Of April 15, 2024

Join IBD experts as they analyze leading stocks in the current stock market rally on IBD Live

Magnificent Seven Stocks: Nvidia, Tesla

Among Magnificent Seven stocks, Nvidia (NVDA) and Tesla (TSLA) rose 1.2% and 0.3%, respectively, in Wednesday’s early trading.

Nvidia stock is trying to find support around its 50-day line, as it builds a flat base with a 974 buy point. The AI giant is an IBD Leaderboard stock.

On Tuesday, Tesla shares hit new multi-month lows and shares are more than 45% off their 52-week high.

Dow Jones Leaders: Apple, Microsoft

Among Dow Jones stocks in the Magnificent Seven, Apple (AAPL) and Microsoft (MSFT) traded higher after  Wednesday’s stock market open.

Apple stock moved down 1.9% Tuesday, falling sharply for a second-straight session. This week, shares found stout resistance at the 50-day line. The stock rose 0.1% Wednesday morning.

Microsoft shares inched higher Tuesday, right at its 50-day line. And the stock moved up 0.9% early Wednesday.

Be sure to follow Scott Lehtonen on X, formerly known as Twitter, at @IBD_SLehtonen for more on growth stocks, the Dow Jones Industrial Average and the stock market today.


Top Growth Stocks To Buy And Watch

Learn How To Time The Market With IBD’s ETF Market Strategy

Find The Best Long-Term Investments With IBD Long-Term Leaders

Nvidia Partner Rides AI Megatrends To 3,594% Gain — With More To Come

Spot Buy Points And Sell Signals With MarketSurge Pattern Recognition



Denial of responsibility! TechCodex is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
DMCA compliant image

Leave a Comment