After the Dow Jones Industrial Average rose 209 points on Monday, Dow Jones futures were little changed ahead of Tuesday’s open.
X
“Magnificent Seven” stock — Amazon.com (AMZN), alphabet (Google), meta platform (meta), microsoft (MSFTMore), Nvidia (NVDA) and Tesla (TSLA) — The Nasdaq 100 is set to adjust the weights of its 100 components, and was largely sluggish on Monday.
Alphabet’s average trading volume fell below the 50-day line, while AMZN’s stock fell more than 2%.
On Wednesday, the release of the all-important inflation report, the Consumer Price Index (CPI), is looming. Economists expect both the headline CPI, which excludes food and energy prices, and the core CPI to rise by 0.3% monthly. Core CPI inflation could fall from 5.3% y/y in May to 5% or even lower as June 2022’s massive 0.6% monthly increase falls out of the 12-month calculation. .
Stock Market Today: Dow Jones Rebound
On Monday, the Dow Jones Industrial Average rose 0.6% and the S&P 500 rose 0.2%. The tech-heavy Nasdaq Composite Index also rose 0.2%. Finally, the small-cap Russell 2000 rose 1.6% on him.
Electric-vehicle giant Tesla fell nearly 2% on Monday. In today’s stock market action, Dow Jones tech giants Apple and Microsoft fell 1.1% and 1.6%, respectively.
Chipotle Mexican Grill (CMG), dyna trace (DT), Metaplatform, MongoDB (MDBs) and Nvidia — as well as Dow Jones stocks american express (AXP), visa (V.) and Salesforce (CRM) — one of the most notable stocks in the current stock market selloff.
Tesla is an IBD leaderboard stock and American Express was featured in this “Stocks Close to Buy Zone” column. Alphabet and Dynatrace were recently selected as IBD Stock Of The Day.
Dow Jones Today: Oil Prices, Treasury Yields
Ahead of Tuesday’s opening bell, Dow Jones futures, S&P 500 futures and Nasdaq 100 futures were little changed to fair value. Note that overnight trading such as Dow Futures does not necessarily translate into actual trading in the next regular stock market.
On Monday, the 10-year Treasury yield fell to 4%. Crude oil prices fell nearly 1% on Monday, down from recent highs. West Texas Intermediate futures traded above $73 a barrel.
Stock market movements: what to do now
With major stock indices nearing their 2023 highs, now is an important time to read IBD’s “The Big Picture” column.
With the stock market holding onto this year’s highs, IBD’s recommended exposure levels range from 80% to 100%. However, when adding exposure, investors should be aware of current market levels and exercise caution when increasing exposure at a steady pace. It’s also important to stay alert in case there is another setback.
5 Best Dow Jones Stocks to Buy Now and Watch
Dow Jones Stocks to Watch: American Express, Salesforce, Visa
American Express is building a base of handle cups with a buy point of 177.04. Following a 1.15% gain on Monday, the stock is 4% away from entry.
Salesforce is trying to stabilize its performance after a downturn. It is currently testing the support of the 50-day line, and a decisive pullback will create new buying opportunities. Meanwhile, buypoint 225’s flat base also plays a role, according to the IBD leaderboard analysis.
Payments leader Visa gained 0.7% on Monday, closing further above the buy point of 235.57 on a flat basis. The top of the buy range is 247.35.
4 Top Growth Stocks to Watch stock market rise
Best stocks to buy and watch: Chipotle, Dynatrace, Meta, MongoDB, Nvidia
The IBD leaderboard watchlist stock Chipotle ended a four-day losing streak on Monday but is still below the buy point of 2,139.88 on a flat basis, according to pattern recognition from IBD Marketsmith. An early entry at 2,092.51 was also possible due to the trendline. Chipotle was his recent IBD Stock Of The Day.
Software maker Dynatrace formed a tight three-week chart pattern representing a short-term consolidation as institutional investors paused buying. The stock is within range to the recent entry at 52.99.
Facebook parent company Meta Platforms has performed strongly over the past three weeks, with 298.12 new entrants. This buy point should be used as an additional entry as the stock price has risen significantly from the previous baseline.
MongoDB has traded strongly after a recent earnings surge that brought in new entrants. The stock is just below a three-week tight formation that marked a buy point at 398.89 after the recent selloff. On the other hand, an aggressive investor may use a trendline entry near 386.
Nvidia shares have been on a consistent uptrend after the May 25 earnings gap up. Stocks are offering new buying opportunities amid the pullback since June 20th. The stock has formed a trendline entry at 418 after finding support at the 21-day exponential moving average. Nvidia is his IBD leaderboard stock.
Learn how to time the market with IBD’s ETF Market Strategy
Best stocks to buy and watch during an uptrend in the stock market
These are the four best stocks to buy and watch on the stock market today, including the Dow Jones leader.
| company | symbol | correct purchase point | Purchase point type |
|---|---|---|---|
| dyna trace | (DT) | 52.99 | narrow area |
| visa | (V.) | 235.57 | flat base |
| cloudflare | (Net) | 66.20 | double bottom |
| Nvidia | (NVDA) | 418.00 | trend line |
Source: IBD data as of 10 July 2023
IBD experts analyze the leading stocks in the current stock market rally on IBD Live.
tesla stock
IBD leaderboard stock Tesla fell 1.8% on Monday for a third consecutive trading loss.
Still, Tesla shares are still above the double-dip buy point of 207.79, well outside the buy range that is close to the 2023 high.
Dow Jones Leaders: Apple, Microsoft
Among the Dow Jones stocks, Apple shares were just off last week’s high of 194.48 and fell 1.1% on Monday. AAPL shares have fallen four of the last five trading sessions, but continue to hold well above the buy point of 157.38.
Microsoft shares fell 1.6% on Monday, its second straight selloff. They are returning to the 50-day support level. A large pullback will create a new buying setup.
Follow Scott Lehtonen on Twitter. @IBD_SLehtonen Learn more about growth stocks and the Dow Jones Industrial Average here.
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