Dow Jones futures, along with S&P 500 futures and Nasdaq 100 futures, were lower ahead of Tuesday's stock market open. Tesla stock surged ahead of second-quarter deliveries. Meanwhile, Wall Street will shifts its attention Tuesday to a speech from Fed Chairman Jerome Powell.
Tesla stock rallied more than 6% Monday, closing at its highest level since late January. The electric-vehicle maker's Q2 deliveries are widely expected out Tuesday morning.
Also on Tuesday, Fed chief Powell will speak at the European Central Bank Forum on Central Banking, held in Portugal. The policy panel discussion will commence at 9:30 a.m. ET.
Meanwhile, this week's economic data is headlined by Friday's June jobs report. The monthly employment report is expected to show a solid gain of 190,000 jobs as wage growth slows according to FactSet. The unemployment rate is seen holding at 4%.
Finally, markets will be closed for the Independence Day holiday on Thursday.
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Stock Market Today
On Monday, the Dow Jones Industrial Average moved up 0.1% and the S&P 500 rose 0.3%. The tech-heavy Nasdaq composite climbed 0.8%.
Burlington Stores, Carvana, Domino's Pizza and Meta Platforms — plus Dow Jones components Amazon, Apple, Amgen, JPMorgan Chase and Microsoft — are among the best companies to watch on the stock market today.
JPMorgan and Meta are featured in this Stocks Near A Buy Zone column.
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Dow Jones Today: Oil Prices, Treasury Yields
Ahead of Tuesday's opening bell, Dow Jones futures fell 0.4% vs. fair value, and S&P 500 futures lost 0.5%. Tech-heavy Nasdaq 100 futures were down 0.6% 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 4.47%. And oil prices rose, as West Texas intermediate futures settled above $83 a barrel.
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Stock Market Today: What To Do Now
Now is an important time to read IBD's The Big Picture column amid the ongoing stock market rally. Following Monday's action, be sure to check out today's The Big Picture and today's exposure level.
On Monday's IBD Live show, the IBD Live team discussed current trading conditions.
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. Notably on that list, Manulife Financial is breaking out past a 26.81 buy point in a flat base on the stock market today. Meanwhile, the MarketSurge "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 are available to check every day.
Dow Jones Stocks: Amgen, JPMorgan
Dow Jones stocks worth watching include biotech giant Amgen, which is trying to break out past a cup-with-handle base's 133.10 entry, according to MarketSurge pattern recognition. And JPMorgan broke out past a 205.88 flat-base entry. The banking leader was the IBD Stock Of The Day.
Outside the Dow Jones index, Burlington Stores is in buy range above a 232.69 cup-base entry despite recent losses. Carvana is squarely below a 129 buy point in a cup base following Monday's losses.
Pizza maker Domino's is tracing a flat base that has a 542.75 buy point, according to IBD MarketSurge. And Meta stock is trying to break out above a 514.01 buy point in a cup-with-handle base, but Friday's drop sent the stock back below that entry. The Facebook and Instagram parent is an IBD Leaderboard stock.
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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 |
|---|---|---|---|
| Carvana | 129 | Cup base | |
| Domino's | 542.75 | Flat base | |
| Meta Platforms | 514.01 | Flat base | |
| Amazon | 191.70 | Flat base |
Source: IBD Data As Of June 27, 2024
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Magnificent Seven Stocks: Nvidia
Among Magnificent Seven stocks, Nvidia stock bounced back after two days of losses, moving up 0.6%.
Shares remain sharply above a split-adjusted alternative buy point at 97.40. The artificial intelligence leader also is an IBD Leaderboard stock.
Dow Jones Leaders: Amazon, Apple, Microsoft
Among Dow Jones stocks in the Magnificent Seven, Amazon is breaking out past a 191.70 buy point in a flat base following a recent rebound from the 50-day line.
Apple stock rallied 2.9% Monday, closing just shy of record highs. Shares are extended above a cup base's 199.62 buy point.
Microsoft shares climbed 2.2% Monday, further above a flat base's 430.82 buy point and hitting new highs.
Be sure to follow Scott Lehtonen on X/Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones Industrial Average.
