Dow Jones futures, along with S&P 500 futures and Nasdaq 100 futures, were mixed ahead of Tuesday's open following Monday's stock market action.
Nvidia stock surged more than 3% Monday, breaking out past a 146.54 buy point in a double bottom. Shares added 0.6% in extended trading. Late Monday, Nvidia CEO Jensen Huang gave the keynote speech at CES 2025, which started around 9:45 p.m. ET. The event can be viewed on Nvidia's website.
Other artificial intelligence chip stocks also rose bullishly after Hon Hai Precision Industry, also known as Foxconn, announced record fourth-quarter revenues on continued strong demand for AI servers over the weekend.
Nvidia chipmaker Taiwan Semiconductor Manufacturing, better known as TSMC, jumped to new highs, with a 5.5% gain. Shares are now extended past a 205.63 cup-with-handle entry.
Nvidia stock is a position on IBD SwingTrader and IBD Leaderboard.
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Dow Jones Futures Today: Oil Prices, Treasury Yields
On Monday, the Dow Jones Industrial Average fell 0.1%, while the S&P 500 gained 0.6% and the Nasdaq rallied 1.2%.
The stock market will be closed Thursday in honor of former President Jimmy Carter.
Later this week, Friday's December jobs report takes the spotlight. But ahead of that event, the Federal Reserve will release minutes from its December meeting on Wednesday.
Ahead of Tuesday's opening bell, Dow Jones futures lost 0.1% vs. fair value, while S&P 500 futures inched lower. Tech-heavy Nasdaq 100 futures edged up 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 rose to 4.61%. And oil prices fell modestly, as West Texas Intermediate futures settled around $73.50 a barrel.
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Google And Meta Jump
The Magnificent Seven stocks all ended higher Monday, as the Roundhill Magnificent Seven ETF rallied 2%. It is 3.5% off its 52-week high.
Alphabet climbed 2.7%, moving back out of buy range above a 182.49 buy point in a cup with handle and approaching new highs.
Meta Platforms advanced 4.2% Monday, bullishly rebounding from the 50-day line. Shares are at the top of the buy zone above a 602.95 flat-base entry.
Finally, Tesla inched higher Monday, barely adding to Friday's rebound. In recent weeks, the Elon Musk-led company topped out at 488.54, about 84% above a 264.86 buy point in a cup with handle. But shares are about 16% off that high.
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What To Do Now
Now is an important time to read IBD's The Big Picture column following the session's gains. After Monday's session, be sure to check out today's updated exposure level.
On Monday's "IBD Live" show, the team discussed the current trading conditions of the stock market action.
Still, investors should be utilizing diligent risk management, one of the four pillars of The IBD Methodology. It's important to monitor positions that are acting out of character and sell any stocks that trigger sell rules.
An essential resource for daily breakouts is IBD MarketSurge's "Breaking Out Today" list. It shows MarketSurge Growth 250 stocks that are breaking out past buy points. Meanwhile, the MarketSurge "Near Pivot" list shows more 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 are available to check every day.
Be sure to follow Scott Lehtonen on X/Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones Industrial Average.
