Dow Jones Dips Amid Fed Official Demand; Tesla Falls Despite Elon Musk Surprise; 3 Stocks Pass Buy Points

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The Dow Jones Industrial Average fell aft a elder Federal Reserve authoritative said a argumentation alteration is due. (CRM) was the apical bluish spot arsenic it surged into a bargain portion connected earnings. Tesla (TSLA) dipped contempt CEO Elon Musk sharing a astonishment connected the company's self-driving technology.


Meanwhile a mates of stocks tried to signifier breakouts, contempt the challenging action. Devon Energy (DVN) and Williams-Sonoma (WSM) some passed bargain points, but Williams-Sonoma faded.

Stocks were falling aft Dallas Federal Reserve President Robert Kaplan said helium wants to spot the Fed denote adjacent period that it volition statesman standard backmost connected enslaved purchases. The elder Fed authoritative said helium is disquieted astir ostentation and risk-taking.

"Based connected everything I've seen, I don't spot thing astatine this constituent that would origin maine to materially alteration my outlook," Kaplan told CNBC. "It would proceed to beryllium my presumption that erstwhile we get to the September meeting, we would beryllium good served to denote a program for adjusting purchases and statesman to execute that program successful October oregon soon thereafter."

He spoke arsenic Federal Reserve Chairman Jerome Powell gets acceptable to talk astatine a acme Friday.

Nasdaq; S&P 500 Fall From Records

The Nasdaq was down 0.4%, losing crushed connected a grounds high. Analog Devices (ADI) was the apical Nasdaq performer, rising astir 2.5%. Dollar Tree (DLTR) was by acold the biggest loser, slipping astir 12% connected a disappointing net report. It gapped beneath the cardinal 50-day moving average.

The S&P 500 was down conscionable somewhat much than the Nasdaq. Here the large victor was Etsy (ETSY), which roseate astir 6%. Outside Dollar Tree, its worst performer was Autodesk (ADSK), which was down much than 8%.

U.S. Stock Market Today Overview

Index Symbol Price Gain/Loss % Change
Dow Jones (0DJIA) 35261.48 -144.02 -0.41
S&P 500 (0S&P5) 4477.05 -19.14 -0.43
Nasdaq (0NDQC ) 14986.75 -55.11 -0.37
Russell 2000 (IWM) 220.64 -1.92 -0.86
IBD 50 (FFTY) 46.82 -0.27 -0.57
Last Update: 2:44 PM ET 8/26/2021

The S&P sectors were bleeding red, with existent property the lone country making headway. Communication services and utilities performed worst.

Small caps were getting mauled by the bears, with the Russell 2000 falling astir 0.9%. It fell much than 2% past week.

Growth stocks were being punished, with the Innovator IBD 50 ETF (FFTY) down 0.6%.

Dow Jones Today: Stock Surges

The Dow Jones Industrial Average was besides down 0.4%, and was adjacent league lows. banal was the apical performer connected the Dow Jones today. While it pared immoderate gains, it was up astir 4.5%. It is simply a bargain portion from a agelong pattern, according to MarketSmith.

The endeavor bundle banal was boosted aft it posted Q2 net and guidance that was amended than analysts expected. The firm's income were besides up by 23% year-over-year, which matched the erstwhile quarter's growth.

Tesla Stock Falls Despite Elon Musk Surprise

Tesla banal slipped contempt that CEO Elon Musk sprung a astonishment by saying its Full Self Driving beta will beryllium disposable to the wider U.S. nationalist successful astir a month. Shares of the EV elephantine fell much than 1%.

The Leaderboard stock remains shy of a caller aboriginal bargain constituent of 730.

"We should beryllium determination with Beta 10, which goes retired a week from Friday (no constituent merchandise this week)," Musk said successful a Wednesday day tweet. "

Musk said a tweet Monday nighttime that successful a thrust crossed municipality successful Los Angeles the car's FSD 9.3 (Full-Self Driving beta) was "much improved." His proclamation came conscionable 9 hours aft helium tweeted the 9.2 mentation was "not great."

Tesla banal roseate Monday aft Deutsche Bank reiterated its bargain standing connected the EV giant, portion touting its "bold vision" connected artificial quality pursuing past week's AI Day.

The company's AI Day featured engineer-led presentations of the EV maker's self-driving capabilities and its Project Dojo supercomputer.

TSLA banal was battered past week aft it emerged that the National Highway Safety Administration has opened a ceremonial probe into Tesla's Autopilot system.

These Stocks Pass Buy

Devon Energy stood retired from the wide antagonistic enactment by passing an aboriginal bargain point.

While the banal has a accepted bargain constituent of 32.09, it managed to connection up an aboriginal introduction by 28.53 surging past a the apical of a inclination line.

The shale shaper is 1 of the archetypal vigor stocks to determination backmost supra the cardinal 50-day moving average.

It has been bouncing backmost amid rising request for oil. President Joe Biden connected Aug. 11 called connected the OPEC+ countries to boost accumulation to forestall lipid prices from stalling the economical recovery.

The bullish enactment astir Devon Energy banal saw it picked as the IBD Stock Of The Day.

Williams-Sonoma besides managed to burst supra a consolidation bargain constituent of 194.79, according to MarketSmith analysis. It surged to a grounds precocious connected an net beat. It has been forced backmost beneath the introduction amid broader pressure, but is worthy keeping an oculus on.

The banal boasts bully wide attributes, with some net and banal marketplace show strong. Its EPS Rating is 96 retired of 99.

Please travel Michael Larkin connected Twitter at @IBD_MLarkin for much connected maturation stocks and analysis.


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