May 11, 2021 1 min, 50 secs
Tesla and Apple both weighed heavily on early action, as chipmakers and growth stocks also outpaced the overall early declines.

And Nike traded high on the Dow Jones today following an analyst upgrade.

The Dow Jones Industrial Average plowed 350 points lower, taking a 1% loss, as Apple (AAPL) and Boeing (BA) spearheaded early declines.

The Nasdaq Composite unraveled 1.5% on the stock market today, with Tesla (TSLA) initially swerving 4% lower, then paring losses to 1.5%.

Energy issues retreated to the bottom of the index, with oil-stocks posting five of the 10 worst declines in early trade.

Other commodities and mining plays that led Monday's early rally generally backed off early Tuesday.

BioNTech vaccine partner Pfizer (PFE) shed 0.4% in early trade.

Growth stocks posted some heavy early losses.

Stocks to watch for Tuesday, according to IBD's Investing Action Plan, include Ruth's Hospitality (RUTH), which is back below a 26.97 buy point.

Nike (NKE) climbed 0.9%, lead the morning action on the Dow Jones today.

Tuesday's early action suggested a drop to near the stock's 200-day moving average, a level of support it has not tested since the pandemic bear market in March 2020.

DEspite the early losses, investors rewarded positive earnings news, although early rallies were primarily laggard stocks.

Prices briefly jumped above $2.21 a gallon on Monday, their highest mark since May 2018, before settling back to around $2.11 a gallon early Tuesday.

Investors will have a close eye on the Dow Jones today, after Monday's late-day reversal snapped a five-day advance.

For more detailed analysis of the current stock market and its status, study the Big Picture.

But for growth stock investors, the rise in distribution suggests zeroing in on stocks with strong RS Ratings that are building sound bases, along with relative strength lines that are at or near new high ground.

The stock is also in a buy range above a  three-weeks-tight entry at 27.18.

Goldman Sachs (GS) remains in a buy range on the Dow Jones today, above a cup base buy point at 356.95.

Dow Jones peer Home Depot (HD) remains well within its buy range after clearing a 328.93 entry in a three-weeks-tight pattern?

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