NEW YORK – The Dow Jones Industrial Average experienced a brief drop of 195 points at the start of the new year as investors reacted to reports on manufacturing and construction spending. On the other hand, shares of Tesla surged following better-than-expected fourth-quarter deliveries, while Apple stock declined after an analyst downgraded it.

Following the opening bell, the Dow Jones Industrial Average fell by 0.1%, with the S&P 500 also dropping by 0.6%. The tech-heavy Nasdaq composite experienced a decline of 1.5% in the morning session. Notably, among U.S. exchange traded funds, the Nasdaq 100 tracker Invesco QQQ Trust was down by 1.4%, and the SPDR S&P 500 ETF fell by 0.6%.

West Texas Intermediate futures climbed over 1% on Tuesday morning, surpassing $72 a barrel, indicating a rebound in oil prices after a three-day losing streak. Additionally, the S&P Global Purchasing Managers’ Manufacturing Index for December dropped to 47.9, and the Labor Department reported a 0.4% increase in construction spending in November, slightly lower than estimates for a 0.6% rise.

On the earnings front for the week, Cal-Maine Foods, Conagra, and Walgreens Boots Alliance are set to report their quarterly results.

Apple’s stock decreased by 3.1% after Barclays downgraded the stock to underweight from equal weight, with a new price target of 160, down from 161. Barclays analysts noted a weakness in sales of iPhones and Mac computers.

Meanwhile, Tesla reported fourth-quarter deliveries of 484,507 vehicles, surpassing Wall Street’s estimates, leading to a 0.5% increase in TSLA stock during morning trading.

The Nasdaq composite ended Friday down by 0.6%, booking a yearly gain of 43.4%, while the S&P 500 fell by 0.3% in the year’s final session, with a 24.2% climb during 2023. The Dow Jones Industrial Average dipped by 0.1%, but the Dow 30 blue-chip stocks rallied by 13.7% in 2023.

Alphabet, Celsius, Monday.com, Netflix, and Snowflake, along with Dow Jones components Amgen, Caterpillar, and Visa are among the best stocks to buy and watch according to investors. Microsoft and Netflix are featured in the ‘Stocks Near A Buy Zone’ column.

Drug leader Amgen, heavy machinery giant Caterpillar, and payments leader Visa are attempting to break out from their respective buy points, while Alphabet, Netflix, Celsius, Monday.com, and Snowflake are all in buy range.

In conclusion, amid the ongoing stock market gains, it is important to pay attention to the current trends and be informed about the best bets in today’s action. These stocks provide valuable insights for investors looking to make informed decisions in the market.

In conclusion, the article provides valuable insights into the current movements in the stock market, offering significant information for anyone looking to invest. The article highlights key developments and trends in the market, which can be useful for investors to make informed decisions. It also sheds light on the performance of various stocks and their potential for growth and success in the current market.