Dow Jones futures, along with S&P 500 futures and Nasdaq 100 futures, were little changed ahead of Tuesday's open in overnight trade, as the October CPI inflation report looms. Meanwhile, eight best stocks to buy and watch in the stock market rally include tech titan Nvidia and Dow Jones software giant Microsoft.
Stock Market Today: Dow Jones Rises
On Monday, the Dow Jones Industrial Average rose 0.2%, while the S&P 500 moved down 0.1%. The tech-heavy Nasdaq composite lost 0.2%.
Electric-vehicle giant Tesla moved up 4.2% Monday, while stock market leader Nvidia gained 0.6%. Meanwhile, Dow Jones tech icons Apple and Microsoft traded lower in today's stock market, with AAPL stock down 0.9% and Microsoft shares off 0.8%.
Amazon, along with MercadoLibre, Nvidia and IBD Leaderboard stock ServiceNow — as well as Dow Jones stocks Intel, Microsoft, Walmart and UnitedHealth — are among the best stocks to buy and watch in the current market rally.
Intel was featured in this Stocks Near A Buy Zone column. ServiceNow and Microsoft are on IBD Leaderboard.
Dow Jones Today: Oil Prices, Treasury Yields
Ahead of Tuesday's opening bell, Dow Jones futures inched higher vs. fair value, while S&P 500 futures gained 0.1%. Nasdaq 100 futures were up 0.2% vs. fair value. Remember that overnight action in Dow Jones futures and elsewhere doesn't necessarily translate into actual trading in the next regular stock market session.
On Monday, the 10-year U.S. Treasury yield ticked higher to 4.63%. Meanwhile, oil prices bounced, as West Texas Intermediate futures closed above $78 a barrel.
Stock Market Rally: What To Do Now
Now is an important time to read IBD's The Big Picture column, with the stock market outlook in a confirmed uptrend.
Following Friday's bullish action, investors should be raising their market exposure. IBD recommends a level of 60% to 80%, as the trend continues to strengthen. But be prepared for a volatile week of action, with key inflation reports Tuesday and Wednesday.
A great resource for daily breakouts is IBD MarketSmith's "Breaking Out Today" list. It shows MarketSmith Growth 250 stocks that are breaking out past new buy points. Meanwhile, the MarketSmith "Near Pivot" list shows stocks nearing buy points in bases.
To find more stock ideas, check IBD Stock Lists, like IBD 50, Big Cap 20 and Stocks Near A Buy Zone. These features identify bullish patterns and buy points and should be checked every day.
Dow Jones Stocks: Intel, Walmart, UnitedHealth
Chip giant Intel is in buy range past a 37.22 buy point in a double-bottom base, according to IBD MarketSmith chart analysis. Intel stock dropped 1.6% Monday, still above the latest entry.
Dow Jones retail titan Walmart is in buy range past a 165.85 buy point, according to IBD MarketSmith chart analysis. Shares gained 0.9% Monday, further past the buy trigger.
Health care giant UnitedHealth is adding a handle to a massive consolidation, and showing a new buy point at 546.78. UNH stock moved up 0.2% Monday.
4 Top Growth Stocks To Watch In The Stock Market Rally
Stocks To Buy And Watch: Nvidia In Buy Range
Amazon made a bullish move back above its 50-day moving average line in recent weeks, topping an early entry at 134.48. Now, AMZN stock is within striking distance of a cup base's 145.86 buy point, while a handle could eventually form. Shares moved down 0.7% Monday.
MercadoLibre eased last week, adding a handle to its forming cup base. That takes the buy point to 1,398.59, according to IBD MarketSmith pattern recognition. MELI stock was up 0.3% Monday.
Graphics-chip giant Nvidia is in buy range past a double-bottom's 476.09 entry. Shares moved decisively above the entry Friday and added 0.6% Monday. The company's earnings results are out Nov 21.
ServiceNow is barely out of buy range past a 607.90 entry in a double bottom. The 5% buy zone went up to 638.30. The pattern also may be interpreted as a flat base with a 614.36 buy point. NOW stock added 0.6% Monday.
Learn How To Time The Market With IBD's ETF Market Strategy
Best Stocks In Today's Stock Market Action
These are four best stocks to watch in today's stock market, including a Dow Jones leader.
| Company Name | Symbol | Correct Buy Point | Type Of Buy Point |
|---|---|---|---|
| Amazon | 134.48 | Double bottom | |
| UnitedHealth | 546.78 | Handle entry | |
| DraftKings | 31.10 | Trend line | |
| Nvidia | 476.09 | Double bottom |
Source: IBD Data As Of Nov. 13, 2023
Join IBD experts as they analyze leading stocks in the current stock market rally on IBD Live
Tesla Stock
Tesla stock raced more than 4% higher Monday, retaking the 200-day moving average line. TSLA stock has seen some stout resistance around that level in recent weeks.
Shares are around 27% off their 52-week high.
Dow Jones Leaders: Apple, Microsoft
Among Dow Jones stocks in the Magnificent Seven, Apple slipped 0.9% Monday, holding above an early entry at 182.34. Shares continue to trace a consolidation that has a 198.23 buy point.
Microsoft stock moved down 0.8% Monday, giving up a cup base's 366.78 buy point. In recent weeks, shares rose above an early buy trigger at 346.20.
Be sure to follow Scott Lehtonen on X/Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones Industrial Average.
