The Dow Jones Industrial Average and other major stock indexes traded higher Monday, as Tesla reversed from new highs. Another mover was bitcoin stock MicroStrategy, which tumbled on the stock market today.
After the opening bell, the Dow Jones Industrial Average rose 1%, or 450 points, while the S&P 500 moved up 0.5%. The tech-heavy Nasdaq composite traded up 0.4% in morning trading.
Early Monday, the 10-year Treasury yield ticked lower to 4.3%. Oil prices fell, as West Texas Intermediate futures traded around $70.40 per barrel.
Among exchange traded funds, the Invesco QQQ Trust moved up 0.4% as the SPDR S&P 500 ETF advanced 0.5% after the open.
Tesla stock turned lower in morning action Monday, reversing lower after briefly hitting a new 52-week high. Shares are sharply extended past a 264.86 cup-with-handle entry.
Meanwhile, MicroStrategy reversed from early gains to slide 5%. The price of bitcoin traded just above $98,000 in early action.
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Key earnings reports this week include Burlington Stores Nordstrom and Dick's Sporting Goods, along with Dell, CrowdStrike and Semtech.
On the economic front this week, the Fed's primary inflation gauge, the core personal consumption expenditures price index or PCE, is expected out Wednesday midmorning, a change from the usual premarket fare.
Other key economic data include jobless claims, durable goods orders and a second estimate on third-quarter GDP growth. New home sales for October are out Tuesday, followed by pending home sales on Wednesday.
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Dow Jones Rallies
On Friday, the Dow Jones Industrial Average advanced 1%, while the S&P 500 climbed 0.4%. The tech-heavy Nasdaq composite moved up 0.2%.
Among the best companies to watch on the stock market today are Broadcom, Deckers Brands, Heico, Cloudflare and Tradeweb Markets.
Dow Jones components making notable moves are Amazon.com, Apple, Microsoft, Sherwin-Williams and Nvidia.
Broadcom featured in this Stocks Near A Buy Zone column.
There were four new stocks on IBD MarketSurge's "Breaking Out Today" list Friday, notably Atlassian, which topped a 256.39 cup-with-handle entry. Check for potential breakouts on the "Near Pivot" list. To find additional stock ideas, check IBD Stock Lists like IBD 50, Big Cap 20 and Stocks Near A Buy Zone.
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Dow Jones: Sherwin-Williams Eyes Buy Point
Dow Jones leader Sherwin-Williams is approaching a 392.57 buy point in a flat base, according to MarketSurge pattern recognition. Shares were flat Monday.
Outside the Dow Jones index, artificial intelligence giant Broadcom remains below its 50-day moving average, as it continues to build a flat base that has a 186.42 entry. Broadcom shares rose 0.9% Monday.
Heico is in buy range above its flat base's 269.38 buy point and is a recent IBD Stock Of The Day. Shares gained 0.4% early Monday.
Deckers stock surged past a buy point in a cup-with-handle base at 182.26 Friday as shares continue to rally in recent months. Deckers stock was up 0.8% Monday.
Cloudflare broke out last week, topping a 99.17 buy point in a cup with handle. The 5% buy zone runs up to 104.13, so shares are barely extended. Cloudflare stock moved up 1.1% Monday.
Finally, Tradeweb closed Friday just below a 136.13 entry in a flat base. Tradeweb stock climbed 0.7% in early action Monday.
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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 |
|---|---|---|---|
| Tradeweb | 136.13 | Flat base | |
| Costco Wholesale | 923.83 | Flat base | |
| Broadcom | 186.42 | Handle entry | |
| Deckers Brands | 172.57 | Handle entry |
Source: IBD Data as of Nov. 20
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Magnificent Seven Stocks: Alphabet, Meta, Tesla
Among Magnificent Seven stocks, Alphabet rose 1.7% in morning trading. Shares plunged below their 50-day line last week.
Meta Platforms is trading below its 50-day line amid recent declines, but is still near a flat base's 602.95 buy point. Shares bounced 1.4% Monday.
Dow Jones Leaders: Amazon, Apple, Microsoft, Nvidia
Among Dow Jones components in the Magnificent Seven, Amazon stock extended a losing streak to three sessions Friday, but rose 1.7% in morning trading Monday. Amazon shares are back below a consolidation's 201.20 buy point.
Shares of Apple are trending narrowly above their 50-day line, as they build a flat base with a 237.49 entry. The stock rose 1% Monday morning.
Microsoft shares were down 0.3% Monday morning. The stock remains below its 50-day line, a key level to watch.
Nvidia was down 2.9% Monday, threatening to extend Friday's 3.2% sell-off. Shares remain just above a 140.76 buy point.
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.
