Dow Jones futures, along with S&P 500 futures and Nasdaq 100 futures, were little changed ahead of Tuesday's stock market open, as Wall Street looked toward Tuesday's presidential election as well as the Federal Reserve's interest rate decision on Thursday. Magnificent Seven stock Tesla triggered a sell signal from its latest buy point Monday.
Palantir Technologies surged 13% in extended trading, on pace to hit new highs, after strong Q3 earnings results. The artificial intelligence leader also raised its full-year revenue guidance.
"We absolutely eviscerated this quarter, driven by unrelenting AI demand that won't slow down," commented CEO Alex Karp in the earnings release.
Other key earnings reports late Monday include Astera Labs, Cirrus Logic, Diamondback Energy, Hims & Hers Health, NXP Semiconductor and Vertex Pharmaceuticals.
Astera Labs soared nearly 25%, while Cirrus tumbled 11% in after-hours trading. Diamondback shares declined 2.4%. Shares of Hims & Hers rallied 9%, as NXP stock dived almost 6%. And Vertex stock climbed more than 1.5%.
This week, investor attention shifts to Tuesday's election results, with the presidential race too close to call.
On the economic front, the Fed's interest rate decision is due out Thursday, with a 25-basis-point cut seen as nearly certain by the CME FedWatch Tool. Post-meeting comments from Fed Chair Powell could also move the stock market.
Tesla stock skidded 2.5% Monday, extending a losing streak to six sessions and triggering the 7% sell rule below a 264.86 cup-with-handle entry. Shares are now looking for support around their 50-day line, a key level to watch.
Nvidia Still King, But This 'Big Daddy' Crushes All Other Mag 7 Stocks
Stock Market Today
On Monday, the Dow Jones Industrial Average fell 0.6%, while the S&P 500 lost 0.3%. And the tech-heavy Nasdaq composite also declined 0.3%.
Among the best companies to watch on the stock market today are Costco Wholesale, GoDaddy and MercadoLibre.
Notable Dow Jones components are Amazon.com, Apple, Goldman Sachs and Microsoft.
Amazon and GoDaddy were featured in this Stocks Near A Buy Zone column.
Nvidia Narrowly Misses Joining This Screen Of 18 Golden Gems.
Dow Jones Today: Oil Prices, Treasury Yields
Ahead of Tuesday's opening bell, Dow Jones futures, along with S&P 500 futures and tech-heavy Nasdaq 100 futures, were little changed 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 lower to 4.3%. And oil prices rallied more than 3%, as West Texas Intermediate futures settled around $71.70 a barrel.
What To Do Now
Now is an important time to read IBD's The Big Picture column amid the ongoing stock market action. Following Monday's session, be sure to check out today's The Big Picture and today's updated exposure level.
On Monday's "IBD Live" show, the team discussed the current trading conditions of the stock market rally.
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.
Nvidia, Apple And Tesla Highlight How To Handle This Market
Dow Jones: Goldman Sachs Gives Up Buy Point
Dow Jones financial leader Goldman Sachs fell below its 517.26 buy point, according to MarketSurge pattern recognition, during Monday's 1.5% drop.
Outside the Dow Jones index, Costco is forming a flat base with a 923.83 buy point, and is just below the 50-day line.
GoDaddy remains below a cup-with-handle entry at 166.17, despite a 1.3% rally Monday.
Online retailer MercadoLibre is working on a flat base with a 2,161.73 buy point. The stock is just above the 50-day moving average. MercadoLibre is due to report third-quarter results on Wednesday.
Nvidia Poised To Dethrone Apple. Amazon Takes Aim At Google.
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 | |
| Costco Wholesale | 923.83 | Flat base | |
| MercadoLibre | 2,161.73 | Flat base | |
| Uber Technologies | 82.14 | Consolidation |
Source: IBD Data as of Oct. 28
Magnificent Seven Stocks: Alphabet, Meta, Nvidia
Among Magnificent Seven stocks, Alphabet moved down 1.2% Monday. Shares are forming a cup base that has a 191.75 entry, but keep an eye out for a potential handle.
Meta Platforms continues to pull back to its 50-day moving average line, a key support level to watch.
Nvidia climbed 0.5% Monday after S&P Dow Jones Indices announced that Nvidia will replace chipmaker Intel in the Dow Jones Industrial Average. The changes will take place before the open on Friday, Nov. 8.
Nvidia stock remains below a 140.76 buy point in a consolidation. Nvidia reports third-quarter results on Nov. 20.
Dow Jones Leaders: Amazon, Apple, Microsoft
Among Dow Jones components in the Magnificent Seven, Amazon stock declined 1.1% Monday, holding just above a 195.37 handle buy point. Investors also could use the consolidation peak of 201.20 from early July, which also was the tech giant's all-time high-water mark.
Shares of Apple closed Monday further below its 50-day line in the wake of the company's earnings report last week.
Microsoft shares fell 0.4% Monday. Last week, shares of the software giant dived through their 50-day line, a key sell signal, after the company's earnings results.
Be sure to follow Scott Lehtonen on X/Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones Industrial Average.
