Dow Jones deepens losses; AMC plans loan for share transfer; Pfizer, Caterpillar report earnings Tuesday

The Dow Jones Industrial Average ended the session lower on Monday, as did other indices. The blue-chip index lost 260 points and fell 0.7%.




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The S&P 500 added to earlier losses, closing down 1.3%. The Nasdaq saw the biggest losses, falling 1.9% by the end of the hour.

The small-cap Russell 2000 fell 1.1%. Innovator IBD 50 ETF (FFTY) fell over 1.5% to 22.80.

Volume on the NYSE and Nasdaq fell compared to the same time on Friday, according to preliminary data.

Crude lost more than 2% to trade at $77.80 a barrel. Bitcoin fell more than 4% to $22,735. The yield on the 10-year Treasury note rose 3 basis points to 3.55%.

US Stock Market Today’s Outlook

index Symbol Price Gain/Loss % change
Dow Jones (0 money) 33717.09 -260.99 -0.77
S&P 500 (0S&P5) 4017.77 -52.79 -1.30
Nasdaq (0NDQC ) 11393.81 -227.90 -1.96
Russell 2000 (IWM) 187.05 -2.53 -1.33
IBD 50 (FFTY) 22.80 -0.46 -1.98
Last Updated: 4:00 PM ET 01/30/2023

Dow Jones Stocks

In the Dow Jones Index, Johnson & Johnson (J.N.J) was the worst performer. Shares ended the day down more than 3%. The stock has fallen for three straight days since July 2022, its worst three-day stretch.

A federal appeals court Rejected the company’s plans Thousands of lawsuits over its talcum powder have to be filed in bankruptcy court.

Pfizer (PFE), caterpillar (CAT) and McDonald’s (MCD) will report earnings on Tuesday. There is a caterpillar IBD Leaderboard. The stock extended above the 238 buy point.

Also coming on Tuesday Advanced Micro Devices (AMD), General Motors (GM), Allegro Microsystems (ALGM), a house builder Bultgroup (PHM) and Juniper Networks (JNP) juniper enters a cup-with-handle base at 34.05.

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Warren Buffett’s Berkshire Hathaway (BRKB) is in a cup-with-handle base with a buy point of 321.42. Stocks are pulling back mildly as they try to complete a shakeout before the next move. They have fallen below the 50-day mark.

Shares AMC (AMC) fell over 9% while its new premium class “APE” notes floated. APE notes are AMC’s preferred equity units issued by the company last year. The theater is planning a capital restructuring to swap equity for its debt. The company will hold a special meeting on March 14 to discuss the deal, a possible reverse stock split and other items, according to reports. APE’s price rose by over 15% Wall Street Journal.


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Stocks will move outside the Dow Jones today

IBD Leaderboard and IBD 50 Stock Axon (Axon) 193.95 at the point of purchase. Axon is today’s IBD Stock of the Day. Axon develops stun guns and related technologies.

Dow Jones is the energy leader Exxon Mobil (XOM) has fallen below its buy point of 114.76. Income should be available tuesday Its competitor Chevron (CVX) earnings missed last week.

Shoals (SHLS) is consolidating but closed near its 50-day line, which has been supportive since January 19.

actor (HAL) is in a buy zone from the cup-with-handle base, still above the buy point of 40.09.

SLP (SLP) is above the entry at 56.14 despite volatile action over the past several sessions.

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Phillips 66 (PSX) forms the right side of the cup base with a 113.63 buy point above Tuesday’s close.

Now (know) attempted to break out of a flat base with a buy point of 13.61. But shares faded below the entry.

Please follow V. Ramakrishnan @IBD_Vramakrishnan For more stock market news today.

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