Title: Stock Market Update: Dow Jones Climbs, Cathie Wood Buys Tesla, and Trump Social Media Platform Soars
The Dow Jones Industrial Average and other major indexes climbed Tuesday, as stocks looked to rebound from Monday’s losses. Famed investor Cathie Wood bought more than $28 million worth of Tesla (TSLA). And former President Donald Trump’s social media platform Truth Social soared 50% in its debut on the stock market today.
In morning action, the Dow Jones Industrial Average moved up 0.1%, while the S&P 500 gained 0.2%. The tech-heavy Nasdaq composite climbed 0.4% after the opening bell.
Key Market Trends and Updates:
– The 10-year Treasury yield climbed to 4.26%.
– Oil prices edged up, with West Texas Intermediate futures adding 0.4% to trade above $82 a barrel.
– Among U.S. exchange-traded funds, the Nasdaq 100 tracker Invesco QQQ Trust ETF (QQQ) was up 0.3%, while the SPDR S&P 500 ETF (SPY) rose 0.3%.
Cathie Wood’s Ark Invest funds bought more than 163,000 shares of Tesla stock on Monday, totaling about $28.2 million. Tesla shares rallied nearly 6% on Tuesday after Chief Executive Elon Musk announced a one-month free trial of the company’s Full Self Driving software.
Additionally, Digital World Acquisition has merged with Trump’s tech and social media platform, now known as Trump Media & Technology Group. Trump Media shares soared 50% in morning trade on Tuesday.
In the stock market today, top stocks to watch include Alphabet (GOOGL), Arista Networks (ANET), Duolingo (DUOL), and DraftKings (DKNG), along with Dow Jones components Disney (DIS), IBM (IBM), and Verizon Communications (VZ).
Leaders in the Dow Jones, such as Apple (AAPL) and Microsoft (MSFT), traded mixed after the market open, with Apple approaching recent lows and Microsoft finding support at the 50-day line.
Stay tuned for more updates on growth stocks, the Dow Jones Industrial Average, and the stock market today by following Scott Lehtonen on Twitter at @IBD_SLehtonen.
In conclusion, the stock market continues to show resilience and opportunities for investors. Stay informed and watch for potential breakout opportunities in leading stocks.
Remember to adjust to changing market conditions and explore new investment strategies to maximize your portfolio’s potential.
Stay updated with the latest market trends and stock picks to make informed decisions in today’s dynamic market environment.
Original Source: Investors.com
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