The major market indexes posted mounting losses through Tuesday morning trade. The Dow Jones industrial average fell 0.6%, weighed down by General Electric (GE), which continued to fall after Monday’s dividend cut. Meanwhile, the S&P 500 and the tech-heavy Nasdaq also declined 0.6% apiece.
XAutoplay: On | Off Among the Dow Jones Industrial components, Home Depot (HD) edged lower, falling 0.6%, despite topping Q3 estimates and raising its full-year outlook early Tuesday. Shares are still in buy range from a 160.96 entry, and are hovering just above the 50-day line — a key support level.
Elsewhere in the Dow, Apple (AAPL) was set to decline for a fourth consecutive trading session. Shares fell almost 1%, but the iPhonemaker remains extended from the cup with handle’s 160.97 buy point.
On the downside, General Electric fell another 3%, following Monday’s over-7% decline. Shares are hitting fresh multi-year lows.
Among companies reporting earnings in the stock market today, retailers TJX (TJX) and Dick’s Sporting Goods (DKS) both declined in early trade. The T.J. Maxx-parent company missed revenue targets, sending shares down over 3%. The stock is near its 52-week low.
Meanwhile, the sporting goods chain Dick’s warned on 2018 earnings, sparking a retreat of 5%. The stock is once again approaching its multi-year lows.
Among leading growth stocks, payment processor Square (SQ) reversed lower, falling 0.2%. The IPO Leader has been a tremendous stock in 2017, up 44% from its most recent base — a cup-shaped base with a 28.07 entry.
On the downside, Applied Materials (AMAT) fell 0.8%. Still, the chip leader is holding tightly near its highs. Shares are up about 20% from a 47.69 cup-with-handle buy point. Earnings are due out Nov. 16 after the market close.
Meanwhile, Alibaba Group Holdings (BABA) traded 1.4% lower, and is back in buy range from a 177.10 ascending-base entry. Shares are also coming up on their 50-day line.