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SCOTT LEHTONEN

Dow Jones Rises Ahead Of Big Earnings Reports; Tesla Gets Price Target Hike

The Dow Jones Industrial Average and the other major stock indexes rose Monday, as Wall Street awaited this week's big earnings reports from Apple, Alphabet and Microsoft. Meanwhile, Tesla was an early winner on the stock market today.

After the opening bell, the Dow Jones Industrial Average rose 0.8%, while the S&P 500 gained 0.4%. The tech-heavy Nasdaq composite moved up 0.5% in early trading.

Early Monday, the 10-year Treasury yield ticked higher to 4.25%. Oil prices tumbled, with West Texas Intermediate futures trading around $67.30 per barrel. Israel's retaliatory strike on Iran early Saturday avoided energy and nuclear facilities.

Among exchange traded funds, the Invesco QQQ Trust was up 0.5%, as the SPDR S&P 500 ETF gained 0.4% after the open.

Nvidia, Apple And Tesla Highlight How To Handle The Stock Market Today

Tesla Stock Rises In Pre-Market Trades

Tesla stock was down 1% Monday even after Canaccord raised its price target on Tesla from 278 to 298, keeping its buy rating. That's a near-11% premium to Friday's closing price.

Last week, electric-vehicle giant Tesla broke out past a 264.86 buy point in a cup with handle, closing in the buy zone Friday.

Stock Market Today: Pre-Market Movers

On Semiconductor and Philips were earnings movers Monday morning. On stock cut losses to 0.5%, while Philips plunged nearly 7% in early action.

This week's heavy economic calendar is highlighted by Friday's jobs report. While results will be distorted by the impact of hurricanes and the Boeing strike, economists still expect 125,000 new jobs in October, including 115,000 private jobs, as the unemployment rate holds, FactSet says, at 4.1%.

Further, the core PCE price index, the Fed's primary inflation gauge, will be updated for September with the Commerce Department's personal income and outlays report early Thursday.

Apple Staves Off Fierce Challenge From Nvidia — For Now

Best Stocks To Watch

On Friday, the Dow Jones Industrial Average fell 0.6%, while the S&P 500 edged lower. The Nasdaq composite hit a new high, with a 0.6% gain.

During Friday's IBD Live show, the IBD Live team discussed the current trading conditions and how investors should handle the stock market action.

Among the best companies to watch on the stock market today are Costco WholesaleMercadoLibre, Uber Technologies and United Therapeutics.

Notable Dow Jones components are Amazon.com, Apple, Goldman Sachs and Microsoft.

Apple and MercadoLibre were featured in the Stocks Near A Buy Zone column.

There were four new stocks on IBD MarketSurge's "Breaking Out Today" list Friday, notably ResMed, which topped a 255.18 buy point. Check for more names on the site's "Near Pivot" list. To find additional stock ideas, check IBD Stock Lists like IBD 50Big Cap 20 and Stocks Near A Buy Zone.

Nvidia Narrowly Misses Joining This Screen Of 18 Golden Gems

Dow Jones: Goldman Sachs At Buy Point

Dow Jones financial leader Goldman Sachs gave up a consolidation base's 517.26 buy point, according to MarketSurge pattern recognition. Shares were up 0.7% on the stock market today.

Outside the Dow Jones index, Costco is nearing a 923.83 buy point in a flat base, as it looks for support around the 50-day moving average line. Costco stock moved up 0.1% Monday.

Retail giant MercadoLibre is working on a flat base with a 2,161.73 buy point. The stock is also right at the 50-day moving average. Shares gained 0.8% early Monday.

Uber Technologies has fallen sharply below an 82.14 buy point in a consolidation amid recent losses. Following Friday's drop, Uber stock bounced 0.8% in Monday's morning trading. The company reports earnings later this week.

Finally, United Therapeutics tumbled below a 366.08 buy point during four days of losses. Shares gained a fraction Monday.

Nvidia Still King, But This 'Big Daddy' Crushes All Other Mag 7 Stocks

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 498.23 Flat base
Taiwan Semiconductor 175.45 Cup with handle
ServiceNow 850.33 Flat base
Uber Technologies 82.14 Consolidation
Source: IBD Data as of Oct. 14

Join IBD Experts As They Analyze Leading Stocks On IBD Live

Magnificent Seven Stocks Pre-Market: Alphabet, Meta, Nvidia

Among Magnificent Seven stocks, Alphabet and Meta Platforms rose 1% and 0.3%, respectively, in morning trading on the stock market today.

Google parent Alphabet is currently holding above support around the 50-day moving average. The stock remains well off its prior highs. Meta stock hit a new high in recent weeks, rising further above a 544.23 alternate entry, but is now pulling back to its own 50-day line.

Nvidia touched new highs last week before easing. Shares lost 0.3% Monday morning, squarely above a 131.26 alternate entry. The stock also was just above a 140.76 conventional buy point.

Dow Jones Leaders: Amazon, Apple, Microsoft

Among Dow Jones components in the Magnificent Seven, Amazon shares are holding above their 50-day line, near a 195.37 buy point in a cup with handle. The stock rose 0.7% Monday.

Apple stock broke out above a 233.09 cup-with-handle entry but is back below that buy trigger and attempting to find support around the 50-day line. Shares added 0.5% early Monday.

Microsoft shares bullishly regained their 50-day line during last weeks' bounce and are near a handle buy point at 441.85. And on Monday morning, the stock climbed 0.1%.

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.

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