The Dow Jones Industrial Average was up 0.3% by 10:30 a.m. ET on Tuesday, as Caterpillar (CAT), one of the Dow Jones Industrial Average's components, was among few stocks that broke out past their buy points.
The Small Business Optimism Index of the National Federation of Independent Business rose from 89.4 to 91.0 in June, up from 89.4 a month earlier. The consumer price index report on Wednesday will provide a fresh look at inflation.
The S&P 500 rose 0.2% per hour. The Nasdaq rose by 0.2%.
Nasdaq intends to rebalance its Nasdaq 100 Index to "address the overconcentration of the index through a redistributing weights." The changes will take effect on July 24, and be announced Thursday.
The volume on the NYSE increased, but the Nasdaq fell compared with the same time Monday.
Small-cap Russell 2000 was the leader with a 0.5% increase, while Innovator IBD50 ETF (FFTY), saw a slight decline.
Crude oil increased by more than 1%, trading at $73.96 per barrel. The yield of the benchmark 10-year Treasury bill remained unchanged at 3.99%.
Dow Jones Stocks Today
Caterpillar is the Dow's highlight today. IBD SwingTrader's stock is also breaking out from a cup and handle at 250.89. The relative strength line is behind the volume.
Apple shares (AAPL), despite being upgraded by KeyBanc analysts from 180 to 200, fell. As seen in IBD MarketSmith's chart analysis, the tech giant is tracking the 21 day exponential moving average.
As it worked on a flat basis, Salesforce (CRM), gapped up. In August, the company will raise prices by an average of 9% for its cloud-based products. The shares are close to a 225 entry.
JPMorgan Chase rose after Jefferies upgraded it to buy, from hold. The price target was raised from 149 to 165.
Stocks moving today
Generac (GNRC), the IBD Leaderboard's stock, rose above its 141.54 purchase point today. It had cleared it on June 27.
Zscaler (ZS), a cybersecurity play, reversed upwards after rebounding from its 50 day line on Monday's stock exchange. Stock Of the Day, IBD SwingTrader and the recent play near 146 also cleared a trendline.
Amazon.com shares (AMZN), a cloud and ecommerce giant, rose after Wells Fargo's Ken Gawrelski included it on the firm’s "signature picks" list. The shares formed a three-week bullish pattern at 131.85 and found support near the 21-day moving average.
Dynatrace (DT), on IBD Leaderboard, and SwingTrader, broke out of a plateau with a 52.99. The volume is above average. This is a positive sign.
PepsiCo, Delta Air Lines and Aehr, a manufacturer of chip testing equipment (AEHR), kick off earnings season on a Thursday. Wells Fargo, Citigroup and JPMorgan Chase will announce their earnings on Friday.
PepsiCo remains below the 50-day line, but is still in a flat range. Aehr is nearing a 40.69 purchase point. JPMorgan, a Dow Jones component, is now in the buy zone after a 141.78 purchase point.