The Dow Jones Industrial Average and other major indexes ended Tuesday's session with losses, retreating from recent record highs, with easing risk appetite among investors underscored by gold prices rising to a milestone high. Tesla plunged on the stock market today despite releasing its Full Self-Driving product and announcing new lower-priced models.
The Dow fell 92 points, or 0.2%. The S&P 500 declined 0.4%, with six of its 11 sectors in the red. The benchmark index ended a rally of seven straight days. The Nasdaq composite was the hardest hit of the major indexes with a 0.7% drop. The Nasdaq set a record high on Monday, as did the S&P 500.
Small-cap stocks underperformed the major indexes, with the Russell 2000 index losing 1.1%. The Russell also closed at a record high Monday. While equities sank on the stock market today, gold prices topped $4,000 an ounce for the first time on record, drawing in safe haven bids in part as the U.S. government shutdown continues into a second week.
Volume was modestly lower on the Nasdaq exchange and the New York Stock Exchange compared with Monday, in preliminary numbers. On both exchanges, falling stocks outnumbered rising issues by around 2-to-1.
The 10-year Treasury yield eased to 4.13%. Oil prices bumped up to around $62.05 a barrel. Bitcoin fell nearly 3% to around $122,200. Meanwhile, gold rose and passed $4,000 an ounce for the first time, as the precious metal rally continues.
Stock Market Today: IBM, Palantir Lift Higher
Dow stock IBM ended the day 1.5% higher, while red-hot Iren rallied nearly 7% on its own AI news.
Advanced Micro Devices added nearly 4% to Monday's big gains from its OpenAI deal. Also, AppLovin surged 7.6% higher after diving Monday on reports of a regulatory probe.
IBD 50 stock Palantir Technologies rose 1.5% and flirted with a 185.75 buy point.
Dow component Nvidia shed 0.3% on the stock market today. Shares are in the low end of a buy zone that reaches up to 193.70 from a flat base.
3:34 p.m. ET
Rocket Name Hits Stratosphere
IBD 50 name Rocket Lab surged another 5.1% and reached a record high on the stock market today. Shares are on track for seven straight days of gains. The stock is extended from a 50.92 cup-with-handle buy point and an alternate entry at 55.17.
The company is looking to compete with Elon Musk's SpaceX and Jeff Bezos' Blue Origin in launching its newest rocket called Neutron. Rocket Lab plans to have its first flight with the new spacecraft before the year end.
Tesla fell 4%. After teasing investors and consumers, Tuesday afternoon the electric vehicle giant announced Standard base versions of its Model 3 sedan and Model Y SUV vehicles at a price less than $40,000.
2:10 p.m. ET
Ford Dives
Ford tumbled around 6% on news one of its aluminum suppliers had a major fire on Sept. 16, and the plant is expected to have disruptions for months. The company, Novelis, supplies around 40% of the aluminum sheet used in the U.S. auto industry, with Ford being its largest user.
Ford's top-selling vehicle, the F-150 pickup truck, uses aluminum from the factory. Ford is expected to give a warning to investors about the potential effect of the fire on its business in its next quarterly report on Oct. 23.
Ford stock fell back below its 11.99 cup-with-handle buy point after breaking out in late September. Shares undercut their 21-day exponential moving average but held above their 50-day line on the stock market today.
IBD MarketSurge Growth 250 name Seagate Technology tumbled roughly 8% and is on track for four straight days of losses after barreling to a new high on Oct. 2. The stock is seeking support at its 21-day line.
The data storage stock has had a tremendous run since breaking out of a consolidation pattern with a 115.32 buy point in late May. Shares have climbed around 159% so far this year.
12:28 p.m. ET
IBM Hits A Buy Point
IBM was among the Dow's leaders with a 1.4% gain as it broke out of a cup base with a 296.16 buy point. But the stock faded and was back below the entry in recent trades, according to MarketSurge chart analysis. IBM stock topped the 300 price level before easing. The Dow stock reached an all-time intraday high on the stock market today.
Tuesday's move came on news the tech giant announced a strategic partnership with Anthropic. IBM will use Anthropic's Claude artificial intelligence models into its IBM software.
PayPal Holdings sprinted more than 3% in heavy volume and retook its 200-day moving average. Shares are on pace for four straight days of increases. Shares rose on news that PayPal will be collaborating with India's unified payments interface, UPI, to be its first payments system partner on PayPal.
In separate news, PayPal rolled out its new PayPal Ads Manager to tens of millions of small businesses.
Despite Tuesday's gains, PayPal shares have lagged and are down 13% year to date.
11:05 a.m. ET
This IBD 50 Fintech Name Pops
IBD 50 fintech stock SoFi Technologies jumped nearly 6%, adding to Monday's rise of more than 4%. Shares are clawing back from a two-week sell-off after reaching a record high on Sept. 26.
The stock reclaimed its 21-day exponential moving average on the stock market today. SoFi stock has a 97 IBD Composite Rating and a 95 Relative Strength Rating.
Constellation Brands popped around 2% following the alcoholic beverage maker's better-than-expected fiscal second-quarter profit and sales. But it lowered its fiscal 2026 profit guidance and projects its fiscal 2026 wine and spirits sales will drop 17% to 20%.
Constellation also expects its fiscal 2026 beer revenue to sink 2% to 4%. Its brands include Modelo and Corona beer. Shares have lost around 36% so far this year.
Dollar Tree sank more than 2% after Jefferies downgraded the discount retail stock to underperform from hold and cut its price target to 70 from 110.
Shares are below their 200-day moving average and have lost around 8% from their 52-week high, reached in early August.
9:56 a.m. ET
Stock Market Today: AMD Keeps Rally Going
Advanced Micro Devices surged nearly 6%, adding to Monday's 23.7% explosive upward thrust. Monday's move came on news of a deal with artificial intelligence company OpenAI. Shares are extended from a cup base with a 186.65 buy point.
Aehr Test Systems tumbled more than 26% in heavy volume after the company reported a surprise fiscal first-quarter loss and revenue lower than the prior year.
Shares have lost around 30% from their 52-week high reached on Oct. 2. The stock is falling below its 50-day moving average. Aehr makes and supplies semiconductor test equipment to chipmakers.
Tesla fell a fraction after gaining around 5.5% Monday.
9:15 a.m. ET
Dell Jumps After Raising Long-Term Growth Targets
Dell Technologies now sees 7%-9% annual sales growth through fiscal 2030 vs. 3%-4% previously. The PC, storage and server giant expects at least 15% higher earnings per share vs. 8% before.
Dell stock jumped more than 6% before the open, set to hit a two-year high. Shares were already slightly extended from a cup-with-handle base, cleared on Sept. 30.
Super Micro Computer, which competes with Dell in some areas, climbed nearly 3%, moving up the right side of a base.
8:51 a.m. ET
Stock Market Today: Government Shutdown Hopes
President Donald Trump late Monday signaled a willingness to discuss health care with Democrats, who want to extend some Obamacare subsidies that expire at year's end.
That raised hopes that the government shutdown, which started Oct. 1, could be resolved in slightly less time. Prediction market Kalshi now sees the shutdown lasting just under 20 days vs. 22 days before Trump's comments.
Health insurer Centene rose nearly 2% before the open, but many other insurers and hospital stocks were little changed. However, they've generally rallied over the past week in anticipation that the Affordable Care Act subsidies will be extended eventually.
8:38 a.m. ET
NYSE Owner Invests In Polymarket
Intercontinental Exchange, which owns the New York Stock Exchange, will invest up to $2 billion in prediction market Polymarket. That reflects a pre-investment valuation of $8 billion. ICE stock rose more than 3% before the open after hitting a fresh five-month low on Monday.
The news could further pressure sports betting sites such as DraftKings, which have come under pressure by prediction markets.
8:19 a.m. ET
Stock Market Today: Cheap Tesla Model Y On Tap?
Tesla has teased a Tuesday announcement on social media, with speculation building that it will be a long-awaited "affordable" Model Y, with stripped-down features to lower costs.
The price tag will be key. Tesla wants to encourage buyers without slashing margins or cannibalizing the traditional Model Y. The end of U.S. tax credits complicates that dynamic in America. Until Sept. 30, U.S. buyers could get a base Model Y for $37,490 with the $7,500 tax credit.
Overnight, Tesla's Full Self-Driving product was released to select users, such as influencers. Videos gushing about FSD v14 are already on social media, but it may be weeks before investors get an idea of how the latest driver-assist software compares with FSD 13.
Tesla stock lost a fraction in premarket trade. Shares jumped 5.45% to 453.25 on Monday in anticipation of the upcoming news.
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AppLovin Bounces
AppLovin stock, one of the S&P 500's top performers in 2025, rose nearly 4% in premarket trade. That's after diving 14% on Monday, with AppLovin, knifing through its 21-day line.
The Securities and Exchange Commission is probing the mobile-ad tech firm's data collection practices, Bloomberg reported shortly before the close.
IBM, Iren Jump On AI News
IBM and Anthropic will integrate the AI start-up's Claude model into various tools and products to boost productivity for IBM clients. Anthropic is a big rival ChatGPT-creator OpenAI, with Amazon.com a notable investor.
IBM also made several other AI-related announcements ahead of its annual TechXchange developer conference.
IBM stock jumped more than 4%, passing the 300 mark. If it holds after the open, the Dow component is set to gap above a 296.16 buy point from a V-shaped cup base, according to MarketSurge.
Bitcoin miner-turned-AI data center play Iren said Tuesday that it's signed up several big, multiyear contracts with customers to tap its Nvidia Blackwell AI chips. Iren stock surged more than 7% before the open. Shares, which are getting significantly extended from moving averages, are up 488% in 2025 as of Monday.
Stock Market Today: AMD Adds To OpenAI Gains
AMD stock rose 4% in premarket trade. Shares gapped up 23.7% to 203.71 Monday on a huge OpenAI deal, but closed near session lows after nearly hitting a record high.
Nvidia stock nudged higher before the open. The Dow tech titan fell 1.1% on Monday, but held a 184.48 flat-base buy point. Nvidia and OpenAI announced a big deal in late September.
Remember that premarket action in Dow futures and elsewhere doesn't necessarily translate into actual trading in the next regular stock market session.
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