Major Indexes Have Recovered All of Their Early-Month Losses

15 minutes ago

The Dow Jones Industrial, S&P 500 and Nasdaq Composite have managed to claw back all the losses they posted during the early-September swoon that led the major indexes to their worst performance of the year in the first week of the month.

In late-morning trading Tuesday, each of the indexes was less than 1% above where they finished August. The S&P and Dow are riding four-month winning streaks, while the Nasdaq is looking to post monthly gains for the second straight month.

Watch These Intel Price Levels as Stock Surges

2 hr 47 min ago

Intel (INTC) shares surged in premarket trading Tuesday after the embattled chipmaker’s CEO Pat Gelsinger provided an update on the company’s plans to slash costs and turn around its business.

Gelsinger said in a note to employees released after the closing bell that Intel has made progress in lowering costs through layoffs, trimming its real estate footprint, and selling part of its stake in its Altera programmable chip unit, among other steps.  The company also plans to turn its chipmaking arm into a separate subsidiary and said it would produce chips for Amazon (AMZN), as well as the U.S. military.

Although the shares hit a new multi-year low this month, they have made a partial recovery to currently trade near their September high, potentially forming a hammer, a candlestick pattern that suggests a bullish reversal.

Investors should monitor important support levels on Intel's monthly chart at $20, $17, and $14, while watching key resistance areas at $25 and $35.

Intel shares were up 4.3% at $21.80 about half an hour before Tuesday's opening bell.

Read our full technical analysis piece here.

–Timothy Smith

Futures Point to Higher Open for Major Stock Indexes

3 hr 43 min ago

Futures tied to the Dow Jones industrial Average were up 0.3%.

S&P 500 futures added 0.4%.

Nasdaq 100 futures were up 0.6%.

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