Stock Market Shake-Up: Nvidia and S&P 500 Hit Key Points

The stock market took a hit on Monday, with the Dow Jones Industrial Average dropping by 1%, the S&P 500 falling by 1. 1%, and the Nasdaq selling off by 1. 2%. Nvidia's stock managed to bounce back slightly, ending just below its 50-day moving average. This average is a critical level to watch for investors. Nvidia's stock has been forming a double bottom, which could potentially offer a buy point at 146. 54. Meanwhile, the S&P 500 index lost its 50-day moving average for the first time since December 19.

On Tuesday, Dow Jones futures, S&P 500 futures, and Nasdaq 100 futures all started lower ahead of the market opening. It's important to remember that these overnight movements don't always translate into the next trading session. The 10-year U. S. Treasury yield dropped to 4. 54%, and oil prices saw a minor increase, with West Texas Intermediate futures settling around $71. 10 a barrel. Other major stocks like Apple, Meta, and Tesla also experienced significant drops. Apple's stock fell for the second day in a row, despite being extended past a 237. 49 flat-base entry. Meta's stock stayed above its 50-day line but is below its 602. 95 buy point. Tesla's stock continued its losing streak, falling by 3. 3% and trading nearly 15% below its recent high. Investors are advised to keep an eye on IBD's "The Big Picture" column for market updates and to use diligent risk management strategies.

Actions