The Dow Jones Industrial Average and other major indexes closed lower in Tuesday's session as investors now look to the results of the two-day Federal Reserve policy meeting, which are due Wednesday afternoon. Meanwhile, an IBD 50 bitcoin miner showed strength on the stock market today.
Blue chips on the Dow lost 0.3%, or 125 points. The S&P 500 dipped 0.1% after ending Monday's session at a new high.
Meanwhile, the tech-heavy Nasdaq composite also shed 0.1% after reaching at a record high on Monday. Similarly, small caps on the Russell 2000 closed 0.1% lower.
Volume was lower on the Nasdaq exchange and higher on the New York Stock Exchange compared with Monday, in preliminary numbers. On the Nasdaq exchange, rising stocks slightly outnumbered falling issues. And on the NYSE, losers topped winners by roughly 7-to-6.
Among exchange traded funds, the Invesco QQQ Trust gave back 0.1%. The SPDR S&P 500 ETF edged down 0.2%.
The 10-year Treasury yield dipped to 4.03%. Oil prices jumped 2% to around $64.55 a barrel. Bitcoin climbed to around $116,800.
Stock Market Today: IBD 50 Big Movers
Leading the IBD 50 Tuesday was Riot Platforms with a 5% jump. The bitcoin mining stock is extended from a cup base with a 15.34 buy point, after breaking out on Sept. 10.
Investors that bought on Riot's cup-with-handle base breakout from a 14.46 entry point — as seen on its weekly MarketSurge chart — can take some profits.
A big loser in the IBD 50 was uranium miner Cameco, as it gave back more than 7% of Monday's 10.5% sprint higher. Shares are extended from a deep cup-with-handle base with a 62.27 buy point.
Cameco was added to the IBD 50 on Monday.
3:32 p.m. ET
This Steel Name Hits A Buy Point
Steel Dynamics rallied more than 7% in heavier-than-average volume and broke out of a double-bottom base with a 139.57 buy point. Shares are in a buy zone up to 146.55.
The move higher came after the steel giant issued a third-quarter earnings outlook with a range of $2.60 to $2.64 per share. It reported $2.05 profit per share in the third quarter of 2024.
The steelmaker also expects higher profitability from its steel operations and metals recycling business. It sees demand in its nonresidential construction, automotive, energy and industrial sectors. Steel Dynamics reported declining earnings in 2023 and 2024 and the first two quarters of 2025.
The steel company plans to release its third-quarter results on Oct. 20.
Eli Lilly climbed more than 2% on news it will build a new factory in Virginia as part of its commitment to open four new U.S. plants. It plans to make develop active pharmaceutical ingredients used in cancer, autoimmune and other advanced therapies.
The other three sites are expected to be disclosed this year.
Lilly stock has been weak and flat on the year. It holds a dismal 17 Relative Strength Rating out of best-possible 99.
2:19 p.m. ET
Webtoon Feels The Force
Webtoon Entertainment rocketed around 35% higher in huge volume on news it will run a new digital platform of Disney comic brands. "Star Wars" and Marvel titles will be included.
In addition, Disney signed a nonbinding agreement to acquire a 2% stake in Webtoon. This is Webtoon's second giant jump on Disney deal news. On Aug. 13, Webtoon surged 81% on an announcement that it would offer iconic Disney titles — including "Star Wars" and "Spider-Man" — on its comic book platform.
On Tuesday, Webtoon stock reached a level not seen since August 2024.
Meanwhile, Dow stock Disney fell 0.5% on the stock market today. Shares are in a skewed cup-with-handle base with a 119.78 buy point, according to its MarketSurge weekly chart.
Disney's relative strength line has been in a downtrend since early July, and the stock is creeping further below its 10-week moving average.
Market Awaits Rate Cut, Powell; Nvidia, Palantir Eye Buy Points
12:22 p.m. ET
This Clean Energy Name Spikes
IBD MarketSurge Growth 250 name Bloom Energy jumped nearly 8% and reached an all-time high on the stock market today. On Tuesday, Morgan Stanley raised its price target to 85 from 44 and maintained its overweight rating on the clean energy stock.
Shares are far extended from an early stage consolidation pattern with a 29.82 buy point. The stock is on pace for nine straight weeks of gains. Its impressive run earned it a best-possible 99 IBD Relative Strength Rating.
Brazil-based PagSeguro Digital popped almost 9% and broke out of a consolidation pattern with a 10.21 buy point. The payment processing stock is in a 5% buy zone up to 10.72.
On Tuesday, the company announced it will host a conference call on Thursday to present an update related to its strategic initiatives.
Hershey advanced nearly 4% after Goldman Sachs made a bold upgrade to buy from sell and raised its target price on the chocolate maker to 222 from 170.
Shares are in a long consolidation pattern with an official 208.03 buy point. But an early entry at 190.21 can be seen. The stock has a mediocre 50 IBD Relative Strength Rating.
10:57 a.m. ET
Stock Market Today: Rocket Stock Has Hard Landing
Meta Platforms rose 0.6% Tuesday, a day before the social media giant plans to showcase its new $800 smart glasses at its annual Connect event. The Facebook parent is on pace for three straight days of gains.
IBD 50 name Rocket Lab tumbled nearly 11% following news late Monday it may offer up to $750 million of shares over time to raise cash.
The stock gave back gains after breaking out of a cup-with-handle base with a 50.92 buy point Friday. It's nearing the 7% loss sell rule from the buy point. Shares are seeking support at their 21-day exponential moving average.
Another IBD 50 stock, Rambus, added nearly 2% on top of Monday's 10.3% jump. Shares reached an all-time high on the stock market today.
9:56 a.m. ET
Nasdaq 100 Winners, Losers: Adobe, Starbucks, Trade Desk
Among the Nasdaq 100 stocks, Adobe and Starbucks each rallied more than 1%, making them some of the biggest advancers in morning trading. Both remain far off their 52-week highs.
Meanwhile, Trade Desk tumbled more than 2%, closing in on its 52-week low, which was set on April 7.
9:09 a.m. ET
Dow Jones Movers: Amazon, Amgen, Nvidia
Inside the blue chip index, Amazon.com, Amgen and Nvidia were among the biggest movers on the stock market today.
Amazon stock climbed 1% Tuesday, on pace to add to Monday's 1.4% gain. Amgen shares gained 0.9%, looking to bounce back from two days of losses.
On the downside, Nvidia shares declined 0.2%, still holding above the 50-day moving average following last week's bullish advance.
8:53 a.m. ET
Tesla Stock Extends Gains
Tesla stock rallied another 1.2% premarket Tuesday, set to extend a winning streak to six sessions. On Monday, the stock jumped to its highest level since Jan. 22. Monday's surge came after Chief Executive Elon Musk made his first purchase on the open market since February 2020.
Last week, shares climbed past a 367.71 buy point, according to IBD MarketSurge.
8:39 a.m. ET
Stock Market Today: Retail Sales Stronger Than Expected
Early Tuesday, the Commerce Department said retail sales rose 0.6% in August, above economist estimates for a 0.3% increase.
Retail sales excluding autos were up 0.7%, above the 0.4% estimate tallied by Econoday.
8:02 a.m. ET
Earnings Movers: Dave & Busters, Ferguson
Two earnings movers Tuesday morning were Dave & Busters and Ferguson Enterprises.
Dave & Busters shares plummeted nearly 17% after the company missed fiscal second-quarter and sales estimates. The firm earned an adjusted 40 cents per share on revenue of $557.4 million. FactSet expected 92 cents per share on sales of $$562.8 million.
Meanwhile, Ferguson stock jumped nearly 9% in premarket trading Tuesday after the company posted strong fiscal fourth-quarter numbers despite a slow housing market that has impacted the earnings of other building products companies.
Later this week, Darden Restaurants, FedEx and Lennar are set to report.
Stock Market Today: Fed Meeting To Start, Retail Sales
The Fed's policy meeting kicks off Tuesday, with an interest rate decision Wednesday afternoon. A quarter-point rate cut is considered a lock, with negligible odds of a half-point cut.
However, stalling labor markets and benign inflation reports have nearly cemented odds for a cut of 75 total basis points by year-end. That would lower the Fed's key rate to a range of 3.5% to 3.75%. The real Fed meeting suspense will be what new rate projections say for 2026. Markets are pricing in a year-end 2026 federal funds rate of 2.95%.
Fed Chairman Jerome Powell and many of his colleagues may be unsure if the neutral interest rate, one that neither boosts nor constricts growth, is that low. Yet President Donald Trump could soon get a majority on the Fed board of governors.
Meanwhile, U.S. retail sales are due out at 8:30 a.m. ET. Sales are expected to rise 0.3% in August, with sales excluding autos up 0.4%, according to Econoday estimates.
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