As the stock market continued steep declines from Thursday, the Dow Jones Industrial Average rebounded early on Monday. Yields on the 10-year Treasury have hit a 52-week high. Twitter shares fell after Elon Musk’s potential purchase of Twitter.
BAC released its quarterly profits before Monday’s market opening. BAC shares rose by more than 3% due to exceeding sales and profit forecasts. Charles Schwab (SCHW) was the first to report. Schwab shares fell more than 9% during the first half.
Apple (AAPL), which lost 0.6 percent, was one of the Dow’s worst losers. Microsoft (MSFT), which lost a small amount of its value today, was one of the worst losers in the stock market.
Twitter (TWTR) reversed the 1% downward trend on Monday. On Friday, the firm announced that its board of directors adopted a “poison pill” to stop Tesla CEO Elon Musk’s acquisition.
Twitter’s board approved a plan that allows shareholders to purchase more shares at a discount for those who gain beneficial ownership of 15% or more of the company’s common stock. As a result, musk’s shareholding will be quickly diluted, which would make it more expensive to purchase additional shares.
Tesla (TSLA), an electric-vehicle manufacturer, fell around 1% Monday morning. According to a recent research report, Ark Invest’s Cathie Woods anticipates that Tesla shares will reach 4,600 by 2026.
IBD Leaderboard stock Edwards Lifesciences, Murphy Oil (MUR), Raytheon Technologies(RTX), Shell® (SHEL), and Ulta Beauty are some of Monday’s top companies to buy and watch.
The IBD Leaderboard of equities does not include Tesla or Microsoft. However, Raytheon Technologies, Edwards Lifesciences, and Raytheon Technologies were in the “Stocks Near a Buy Zone” column from the week before.
The Dow Jones Report Today is Led by Oil Prices and Treasury Yields
After Monday’s trading began, the S&P 500 and Dow Jones Today gained 0.3 percent. The Nasdaq composite lost 0.5% during morning trading.
Invesco QQQ Trust, a Nasdaq 100 tracker (QQQ), fell by 0.4 percent among exchange-traded funds. The SPDR S&P 500 Exchange-Traded Fund (SPY) was up 0.1% after Monday’s opening.
The U.S. 10-year Treasury Notes. That is the highest it has been since December last year when it was 2.82 percent. The 10-year Treasury yield rose to 2.86 percent in the early hours Monday before falling. The U.S. crude oil price rose by more than 1%, while Texas Intermediate rude crude was close to $108.