Dow Jones Futures: Another Ugly Market Reversal; Nvidia Skids, Tesla Tumbles On ‘Dark Day’

After hours, Dow Jones futures, S&P 500 futures, and Nasdaq futures all tilted lower. UnitedHealth Group (UNH) and Johnson & Johnson (JNJ) are set to report early Tuesday. The stock market rally attempted to bounce on Monday morning but quickly turned lower in another reversal. The S&P 500 and Nasdaq both broke key levels. Treasury yields reached fresh 2024 highs despite uncertainty over Israel’s response to Iran’s recent attack. Tesla (TSLA) plummeted due to layoffs and other news, while Salesforce.com (CRM) dropped on reports of potential acquisition talks. Nvidia (NVDA) and Microsoft (MSFT) both fell below key levels on Monday. Dow Jones futures lost a fraction vs. fair value, while S&P 500 futures and Nasdaq 100 futures also declined. China is set to release March data for retail sales and industrial production. In the U.S., housing starts and industrial production data for March will be released. UnitedHealth, Johnson & Johnson, and Morgan Stanley (MS) are among the key companies reporting early Tuesday. The stock market rally faced challenges on Monday, with the Nasdaq and S&P 500 closing below the 50-day line for the first time since November. Salesforce stock tumbled, while Goldman Sachs (GS) rose on earnings. The CBOE Volatility index (VIX) rose to a 2024 closing high on Monday. In terms of ETFs, several sectors saw declines, including tech, semiconductors, and energy. Nvidia stock fell below its 21-day line, Microsoft stock closed below the 50-day line, and Tesla announced layoffs and weak quarterly deliveries. Investors should scale back exposure and stay engaged with the market during this uncertain time. Keep an eye on stocks showing relative strength and holding key levels for potential opportunities.



Source link