Stock market today: Dow dives 600 points, oil pops; aerospace stock up after Trump attack (live coverage)

The Dow Jones Industrial Average and the other major stock indexes fell Tuesday, with oil prices rising following an attack on Saudi Arabia by Iran-backed Houthis. Energy stocks jumped while software lagged on the stock market today. SK HynixSKHY cleared a new buy point while EmbraerEMBJ outperformed after President Donald Trump attacked rival Bombardier. Stocks were under pressure in the first day of the shortened trading week, with the Dow industrials diving nearly 600 points. This equates to a 1.1% drop. Oil major ChevronCVX backed off opening highs, but remained up more than 1%. Shares are back in a buy zone above a cup-with-handle entry of 208.98, MarketSurge analysis shows. CaterpillarCAT did even better, rising nearly 2%. But AmgenAMGN plunged nearly 10% in heavy volume and is testing support at the 50-day moving average. It comes after disappointing trial results for an experimental NovartisNVS cardiovascular treatment were seen as a negative indicator for the former firm's own fledgling heart treatment, olpasiran. Novartis plummeted nearly 14%. The S&P 500 also felt the heat, dropping 0.4%. A majority of sectors were lower, with financials and healthcare being hit the hardest. Energy and utilities were posting the best gains. The tech-heavy Nasdaq composite came off lows, and was down 0.2%. CoreWeaveCRWV was a star here as it soared around 15%. LumentumLITE and NebiusNBIS were also strong. BookingBKNG and ShopifySHOP lagged due to drops of more than 5% and nearly 8%, respectively. Volume was running higher vs. the same time Friday on both the New York Stock Exchange and the Nasdaq. West Texas Intermediate crude futures climbed nearly 1% to about $92.30 per barrel. Brent prices, the international benchmark, gained to trade at roughly $97.50 a barrel. The 10-year Treasury yield was up around 4.8%. Also, bitcoin skidded nearly 1%, but came off lows, to trade at around $78,600 per token. Aerospace stocks were on maneuvers after President Donald Trump attacked Canadian aerospace firm Bombardier hours before retaliatory tariffs came into effect against a bevy of U.S. goods. Levies on about $20 billion worth of American products came into effect Tuesday. "NO MORE SELLING BOMBARDIER IN THE UNITED STATES! Their products aren't good enough!" Trump said in a Truth Social post Monday. He also said that the firm should build in the U.S. if it wants access to the market south if the border, adding they should "stop treating America like a 'piggy bank.'" Bombardier stock took a tumble, falling nearly 5% in recent trading on the Toronto Stock Exchange. The company is known for its long range Global Series of private jets and its Challenger Series, which addresses the business jet market. In contrast, U.S. aerospace giant BoeingBA rose a fraction. While the stock is forming a consolidation with a 254.35 buy point, it is bearishly below the important 50-day moving average. It is down nearly 2% so far in 2026. European jetmaker AirbusEADSY shares also were up slightly. Shares currently sit above their 200-day moving average even though the stock remains rooted below its 50-day line. Brazilian aerospace stock EmbraerEMBJ was outperforming, however, rising nearly 2%. It is near the top of the actionable zone above a double-bottom base entry of 71.68. A higher alternate entry of 79.76 is also in play. It competes with Bombardier in the business aviation market. Shares are up more than 16% for the year, meaning it is easily performing its larger rivals. Furthermore, the stock's relative strength line is bending higher, a positive sign. It also boasts a a better IBD Composite Rating than both Boeing and Airbus, with its score currently sitting at 81 out of 99. It ranks among the top 20% of equities in terms of price performance over the past 12 months. Fundamentals are also a key strength, with its Earnings Per Share Rating sitting at 93 out of 99. Full-year per-share earnings are seen rising 55% this year by Wall Street analysts. It is then expected to slow to 15% growth in 2027. The New York Fed's inflation expectations report for August painted a mixed picture. Its Survey of Consumer Expectations showed respondents continued to project of 3.6% inflation a year from now and 3% five years from now. However, expected inflation in three years slipped to 3.2% from July's 3.3%. Despite this, inflation uncertainty increased at the one-year and five-year horizons even as it slipped at the three-year horizon. Respondents in August were also expecting higher gasoline prices in a year. The median expected growth in household income held steady at 3%. It has been moving between 2.8% and 3% since June 2025. Median one-year-ahead household spending growth expectations rose 0.3% to 5.2%, which was higher than its 12-month trailing average of 5%. Perceptions of credit access also declined vs. a year ago. Meanwhile, the share of households saying it is harder to get credit increased. The relative performance of exchange traded funds in the S&P Select Industry indexes offered an early insight into the action on the stock market today. A slight majority were lower. The SPDR S&P Oil & Gas Exploration & Production ETF XOP fared best as it gained more than 2%. It's now extended past a double-bottom base entry of 181.67, MarketSurge analysis shows. Shares are up nearly 55% for the year. The SPDR S&P Oil & Gas Equipment & Services ETF XES was hot on its heels with a 2% gain. It is eyeing a cup-with-handle buy point of 126.18 after recently getting support at the 21-day exponential moving average. This is a first-stage base, which is a plus. It comes as Renaissance Macro Research said on X that retail gasoline prices "are rising during a period of the year they typically decline, up about 95 cents per gallon from a year ago." It also said that seasonal tailwinds to consumer price inflation in June and July from lower gasoline prices "will be undone in the coming months." The SPDR S&P Metals & Mining ETF XME was also flexing its muscles thanks to a lift of nearly 2%. It has moved into the buy zone above a cup-with-handle entry of 119.72. The SPDR S&P Software & Services ETF XSW lagged most as it fell nearly 3%. It is undercutting its 21-day exponential moving average, but remains extended past a 182.45 cup-with-handle entry. The SPDR S&P Health Care Equipment XHE and the SPDR S&P Retail ETF XRT were also pressured due to drops of nearly 2% each. The latter fund is well behind the benchmark S&P 500 so far this year amid a gain of just over 1%. Among the Nasdaq-100 stocks, NebiusNBIS and IntelINTC advanced roughly 6% each, making them some of the top performers just after the market open. Four Reasons To Put This Nvidia, AMD Partner On Your Watchlist Right Now Get IBD's Daily Newsletter At Investors.com Meanwhile, AmgenAMGN and ShopifySHOP tumbled 8% and 5%, respectively, in morning action. Among exchange traded funds, the Invesco QQQQQQ gained 0.1%, as the State Street SPDR S&P 500SPY moved 0.2% lower after Tuesday's opening bell. South Korea-based SK Hynix rallied 2.6% premarket Tuesday, set to break out past a 178.43 cup-with-handle entry. Meanwhile, Bloom EnergyBE jumped 8% in early morning trading, while shares of Micron TechnologyMU climbed 1.6%, nearing an early buy trigger at 1,036.13. Bloom will be added to the benchmark S&P 500 index before the open on Monday, Sept. 21, as part of a quarterly rebalancing of S&P indexes. Inside the Dow industrials, ChevronCVX benefited from higher oil prices as shares climbed 1% premarket Tuesday. Chevron stock was set to snap a three-day losing streak and move back above a 208.98 cup-with-handle entry. NvidiaNVDA gained nearly 1% Tuesday morning, on pace to extend a winning streak to four sessions. On the downside, MerckMRK and AppleAAPL lost nearly 1% each in early morning action. Apple shares threatened to add to Friday's 2.5% sell-off, but are trying to hold above their 50-day moving average. Over the weekend, the U.S. hit three Iranian oil tankers after Iran launched ballistic missiles toward two Navy warships, including an aircraft carrier, according to U.S. Central Command. In retaliation, Iran said late Saturday that it targeted three other oil tankers for using what it claimed was an unauthorized route through the Strait of Hormuz. It also attacked several U.S.-linked ships. It's unclear if any of the vessels were hit. Further, operations at certain energy facilities in Saudi Arabia had been halted after attacks by Yemen's Iran-aligned Houthis wounded 73 people. Top Funds Sink Their Teeth Into Apple Stock. Sweet Breakout Ahead? The June-quarter earnings season winds down this coming week, with software names OracleORCL and AdobeADBE to deliver results after Thursday's market close. Oracle shares jumped nearly 5% premarket Tuesday. They closed Friday more than 54% off their 52-week high. Adobe stock declined 1.5% in early morning trading, threatening to add to Friday's 6.7% dive. Nvidia, Microsoft Partner Tests Breakout. Three Clues Bode Well. The economic spotlight this coming week is Friday's consumer price index for August. Economists expect a 0.2% increase in the core CPI, which strips out food and energy, according to FactSet. Together with the producer price index, out Thursday, the CPI data will clarify whether there was more disinflation progress last month, which may be necessary to avoid a rate hike at the Federal Reserve's Sept. 16 policy meeting. A Treasury Department bond buyback, scheduled for Thursday, also will be closely watched by markets for its impact on long-term interest rates, which are at 2026 highs. Treasury has said it will buy back at least $4 billion worth of 10-year to 30-year bonds, but it remains to be seen how high it will go. Breakout Watch: Savvy Investors Bet Millions On Royalty-Fueled Pharma Stock Please follow Michael Larkin on X at @IBD_MLarkin for more analysis of growth stocks. Be sure to follow Scott Lehtonen on X at @IBD_SLehtonen for more on growth stocks, the Dow Jones Industrial Average and the stock market today. 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