Dow Jones futures, along with S&P 500 futures and Nasdaq 100 futures, were modestly higher ahead of Tuesday's open.
Nvidia plunged nearly 9% Monday, taking out its Feb. 3 low and closing at its lowest level since Sept. 18. Shares are sharply below their 50- and 200-day moving averages after testing those levels last week. Nvidia stock rose 0.5% in extended trading.
Meanwhile, Tesla tumbled nearly 3%, erasing most of Friday's gains and closing at the 200-day line. That's Tesla stock's last-ditch support level. Tesla stock edged lower in evening trading.
Snag The Next Palantir Or Hot IPO In 2025. Here's How.
Trump Tariffs, Jobs Report, Earnings Reports
President Donald Trump's tariffs against Canada and Mexico are set to take effect Tuesday. Speaking at the White House Monday, Trump said there was "no room left" to negotiate with Canada and Mexico. He continued, saying, "They're all set. They go into effect tomorrow."
Meanwhile, the White House said that Trump had signed an executive order raising the tariff on China to 20%.
The U.S. jobs report for February, due Friday, takes the economic spotlight later in the week, along with the ADP employment report and Fed Beige Book on Wednesday.
In stocks, earnings season is in its final rounds, but a raft of retailers report in the coming week, including Costco Wholesale and AutoZone. Other companies reporting include CrowdStrike, Flutter and chip giant Broadcom.
Meta, Netflix Test These Upper Limits As Tesla Exits The Scene While This Biotech Booms
Dow Jones Futures Today: Oil Prices, Treasury Yields
On Monday, the Dow Jones Industrial Average sold off 1.5%, or 649 points, while the S&P 500 lost 1.8% and the Nasdaq tumbled 2.6%.
Ahead of Tuesday's opening bell, Dow Jones futures, along with S&P 500 futures and tech-heavy Nasdaq 100 futures, were modestly higher 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 4.18%. And oil prices dropped, as West Texas intermediate futures settled around $68.30 a barrel.
Forget Nvidia. The Real Magnificent Seven Drama Is With Tesla.
Earnings Movers: GitLab, Okta
Big earnings movers late Monday were GitLab and Okta.
GitLab stock rallied nearly 5% in extended trading, while shares of Okta soared almost 15% in evening trading.
Palantir, Nvidia Nixed But Netflix Remains On Elite Screen Of 15 Stocks
What To Do Now After Dow Jones Sell-Off
Following Monday's stock market sell-off, now is an important time to read IBD's The Big Picture column for an updated exposure level.
On Monday's "IBD Live" show, the team discussed the current trading conditions of the stock market action.
Due to the persistent weak action among top growth stocks, along with a high level of distribution days, investors should be cutting back exposure, starting with any holdings that have made sell signals. That's a key element of risk management.
Many leaders in recent sessions have seen some sharp declines, giving back significant profits and triggering sell signals, such as a breaks of the 10-week moving average.
Nvidia, Palantir, Google Highlight Vicious Volatility. Now What?
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 the 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.
Be sure to follow Scott Lehtonen on X/Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones Industrial Average.
