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Dow Jones Futures Plunge as Market Correction Intensifies; Tech Giants Amazon, Alphabet, Meta, Microsoft Set to Release Earnings Reports

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“Prepare for a rollercoaster ride as Dow Jones futures indicate a market correction taking a turn for the worse, with all eyes on tech giants like Amazon, Alphabet, Meta, and Microsoft as they gear up to report their earnings.”

Dow Jones futures were little changed ahead of Tuesday’s open, indicating a steady start to the trading day. The stock market correction continued on Monday, with the Dow Jones Industrial Average dropping nearly 200 points. This week, tech giants Amazon, Alphabet, Meta Platforms, and Microsoft are set to release their earnings reports. Additionally, Thursday will see the release of the first official estimate of third-quarter GDP growth, which is expected to exceed 4%. On Friday, the personal income and outlays data for September will be released, providing insight into the Fed’s primary inflation rate.

In Monday’s stock market action, the Dow Jones fell by 0.6%, the S&P 500 lost 0.2%, and the Nasdaq composite rose by 0.3% after initially declining. All three major indexes reached new correction lows. Tesla and Nvidia saw slight gains, while Apple and Microsoft traded higher. Some of the best stocks to buy and watch during this correction include Arista Networks, Lululemon Athletica, Meta Platforms, Zscaler, JPMorgan Chase, and Salesforce.

Looking ahead, oil prices and Treasury yields will be important factors to watch. On Monday, the 10-year U.S. Treasury yield eased from its long-term highs, settling at 4.83%. Oil prices also tumbled more than 2%.

As the stock market correction continues, investors should exercise caution and remain wary of taking on new positions. New stock market leadership may emerge in the coming weeks if the major indexes rebound. It’s important to pay attention to stocks that are outperforming the broader market, as indicated by their relative strength line. Dow Jones stocks JPMorgan and Salesforce are currently facing challenges, but there may be opportunities for entry points in the future.

In conclusion, the stock market correction continues to impact the Dow Jones and other major indexes. This week’s busy earnings calendar and economic reports will provide valuable insights into the state of the market. Investors should exercise caution and look for stocks that are holding up better than the broader market.

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