The Dow Jones Industrial Average dropped, while the other major stock indexes traded higher Monday. Two early movers were aerospace giant Boeing and Nvidia, the latter of which is approaching a new high on the stock market today
After the opening bell, the Dow Jones Industrial Average traded down 0.1%, while the S&P 500 rose 0.5%. The tech-heavy Nasdaq composite moved up 0.8% in early trading.
Early Monday, the 10-year Treasury yield ticked higher to 4.1%. Oil prices dropped, with West Texas Intermediate futures trading around $73.90 per barrel.
Among exchange traded funds, the Invesco QQQ Trust rose 0.8%, as the SPDR S&P 500 ETF gained 0.5% after the open.
Boeing stock skidded 2.4% Monday after the company said it will cut its workforce by 10% and warned Wall Street that it is expecting a bigger-than-expected loss for the third quarter.
Nvidia shares rallied 2.4% Monday morning, trading further above a 131.26 buy point from an irregular handle. Shares are also approaching their all-time high of 140.76, which was set on June 20.
Nvidia, Apple And Tesla Highlight How To Handle This Market
Stock Market Today
It's a mostly quiet week for economic data, but new claims for unemployment benefits, out Thursday, should ratchet even higher due to the effects of Hurricane Milton. Economists expect initial claims to rise 12,000 to 270,000 in the week through Oct. 12, after jumping 33,000 the prior week, according to FactSet.
September retail sales, also on Thursday, will shed light on the strength of consumers. Economists expect a 0.45% overall rise from August and a 0.25% gain excluding autos, a moderate pickup after both rose a tepid 0.1% the prior month.
Key earnings reports this week include streaming giant Netflix and Nvidia chipmaker Taiwan Semiconductor Manufacturing. Both tech giants are set to report Thursday.
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Best Stocks To Watch
On Friday, the Dow Jones Industrial Average rallied 1%, while the S&P 500 gained 0.6%. Both hit new highs. And the Nasdaq composite rose 0.3%.
During Friday's IBD Live show, the IBD Live team discussed the current trading conditions and how investors should handle the stock market rally.
Among the best companies to watch on the stock market today are Ryan Specialty, Texas Roadhouse, Toast and Uber Technologies.
Notable Dow Jones components are Amazon.com, Apple, JPMorgan Chase and Microsoft.
Amazon and Tesla featured in this Stocks Near A Buy Zone column.
There were four new stocks on IBD MarketSurge's "Breaking Out Today" list Friday. Notably, Celestica briefly topped a 63.49 entry. Check for more names on the site's "Near Pivot" list. To find additional stock ideas, check IBD Stock Lists like IBD 50, Big Cap 20 and Stocks Near A Buy Zone.
Close, But No 'Perfect' Cigar For Nvidia, Broadcom. But Kudos To These 22 Gems.
Dow Jones: JPMorgan Nears Buy Point
Dow Jones financial leader JPMorgan is approaching a flat base that has a 225.48 buy point, according to MarketSurge pattern recognition. Shares edged lower early Monday.
Outside the Dow Jones index, insurance leader Ryan Specialty is in a buy range above a 69.03 flat-base entry following a recent breakout move. Shares added 0.3% Monday.
Texas Roadhouse continues to hover at a 177.72 flat-base entry amid a recent rebound. Shares were down a fraction Monday.
Restaurant software provider Toast is in a buy zone above its 27.88 buy point despite two straight days of losses. The stock fell 1.1% early Monday.
Finally, Uber Technologies broke out past a 82.14 buy point in a consolidation, with a 10.8% surge on Friday. Uber stock lost 0.7% Monday morning.
Find The Best Stocks To Buy And Watch With IBD Stock Screener And IBD Screen Of The Day
Stock Market Today: Companies To Watch
These are four stocks in or near buy zones in today's stock market.
| Company Name | Symbol | Correct Buy Point | Type Of Buy Point |
|---|---|---|---|
| Ferrari | 442.80 | Flat base | |
| Taiwan Semiconductor | 175.45 | Cup with handle | |
| ServiceNow | 850.33 | Flat base | |
| Uber Technologies | 75.40 | Double bottom |
Source: IBD Data as of Sept. 30
Join IBD Experts As They Analyze Leading Stocks In The Stock Market Today On IBD Live
Magnificent Seven Stocks: Alphabet, Meta, Tesla
Among Magnificent Seven stocks, Alphabet rose 0.5%, while Meta Platforms traded up 0.4% Monday.
Google stock is back at its 50-day line after sharp losses in recent sessions due to talk of a possible breakup. The stock has yet to offer a new buy point.
Meta stock hit a new high last week, further above a 544.23 alternate entry.
Tesla shares looked to bounce back from Friday's dive, rebounding 1.2% Monday morning. Tesla stock tumbled below its 50-day line Friday, but is still trading in the handle portion of a cup base that has a 264.86 buy point.
Dow Jones Leaders: Amazon, Apple, Microsoft
Among Dow Jones components in the Magnificent Seven, Amazon shares are bouncing from their 50-day line, near a 195.37 buy point in a cup with handle. The stock climbed 0.1% Monday.
Apple is close to a V-shaped cup with handle that shows a 233.09 entry. Shares rose 1.1% Monday morning.
Microsoft shares are trying to regain their 50-day line and are near a handle buy point at 441.85. And on Monday morning, the stock tacked on 0.4%.
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.
