Dow Jones futures, along with S&P 500 futures and Nasdaq 100 futures, were lower ahead of Tuesday's stock market open. Nvidia stock rallied to new highs Monday.
The coming week will be light on economic data with the highlight likely being Thursday morning's release of initial jobless claims for the week through Oct. 19. The unknown is whether a jump in claims from Hurricane Milton will offset the drop in new claims from Helene.
Key earnings reports this week include ServiceNow and Tesla.
Nvidia stock rallied 4.1% Monday, hitting another record high. Shares are gaining traction above a 131.26 alternative entry. The artificial intelligence leader tacked on 0.2% in extended trading.
Wall Street Wags Its Tail At This Stock's 301% Run, Sees More Coming
Stock Market Today
On Monday, the Dow Jones Industrial Average declined 0.8%, or 344 points, while the S&P 500 dipped 0.2%. And the tech-heavy Nasdaq composite rose 0.3%.
Among the best companies to watch on the stock market today are Ryan Specialty, Texas Roadhouse, Uber Technologies and United Therapeutics.
Notable Dow Jones components are Amazon, Apple, JPMorgan Chase and Microsoft.
Apple and MercadoLibre featured in this Stocks Near A Buy Zone column.
Nvidia Teases Record Breakout. It's Just One Of 19 'Perfect' Stocks.
Dow Jones Today: Oil Prices, Treasury Yields
Ahead of Tuesday's opening bell, Dow Jones futures fell 0.4% vs. fair value, as did S&P 500 futures. Tech-heavy Nasdaq 100 futures were down 0.5% 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 jumped to 4.18%. And oil prices rebounded, as West Texas intermediate futures settled just below $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: JPMorgan Eyes Buy Point
Dow Jones financial leader JPMorgan closed right at a flat base's 225.48 buy point, according to MarketSurge pattern recognition.
Outside the Dow Jones index, insurance leader Ryan Specialty is holding just above a 69.03 flat-base entry following recent losses.
Texas Roadhouse decisively reclaimed a 177.72 flat-base entry during last week's gains and is in buy range.
Uber Technologies fell sharply below an 82.14 buy point in a consolidation amid a five-day losing streak, but bounced back Monday.
Finally, United Therapeutics is in buy range above a 366.08 buy point following last week's breakout. The biotech holds high scores from Investor's Business Daily, placing it in an elite trifecta: The Big Cap 20, IBD Leaderboard and SwingTrader.
Nvidia Stock Topples Microsoft, But Apple Still Reigns Supreme
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
Magnificent Seven Stocks: Alphabet, Meta, Tesla
Among Magnificent Seven stocks, Alphabet, Meta Platforms and Tesla closed mixed in Monday's trading.
Google parent Alphabet is finding support around the 50-day line following a rebound in recent sessions.
Meta stock hit a fresh high in recent weeks, further above a 544.23 alternate entry, while Tesla stock continues to struggle below the 50-day line.
Dow Jones Leaders: Amazon, Apple, Microsoft
Among Dow Jones components in the Magnificent Seven, Amazon shares are approaching a 195.37 entry in a cup with handle.
Apple is in buy range above a 232.92 buy point in a cup with handle after Monday's 0.6% gain. And Microsoft shares show a 441.85 handle entry.
Be sure to follow Scott Lehtonen on X/Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones Industrial Average.
