The Dow Jones Industrial Average and other major stock indexes traded higher Monday as Wall Street reacted to comments from U.S. Treasury Secretary Scott Bessent, who didn't rule out the prospect of a possible recession. Meanwhile, Tesla and Nvidia traded lower.
Early Monday, the Dow Jones Industrial Average rose 0.5%. The S&P 500 traded up 0.4%. And the tech-heavy Nasdaq composite gained 0.1%.
The 10-year Treasury yield ticked lower to 4.30% early Monday. And oil prices rose, as West Texas Intermediate futures traded near $67.85 per barrel.
Among exchange traded funds, the Invesco QQQ Trust rose 0.2%, while the SPDR S&P 500 ETF moved up 0.3% after the open.
Tesla stock rallied 3.9% on Friday, yet still finished with a weekly decline of 4.8%. Shares remain nearly 49% off their record high of 488.54, reached on Dec. 18. Tesla stock declined nearly 3% in morning trading Monday.
Further, Nvidia jumped 5.3% Friday, and is heading up towards its 50-day and 200-day moving averages. Nvidia stock reversed lower, falling 1% in early trading Monday.
The artificial intelligence titan will hold its semiannual GTC conference starting Monday in San Jose, Calif. Nvidia touts the show as "the world's premier AI conference."
Chief Executive Jensen Huang will give a keynote speech at GTC on Tuesday. He plans to discuss what's next in agentic AI, robotics and accelerated computing. Analysts expect Nvidia to unveil its GB300 AI chip at the show.
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Bessent Says 'No Guarantees' Of Avoiding Recession; Fed Meeting Looms
On Sunday, Treasury Secretary Bessent said he was "not at all" worried about the stock market, adding that "corrections are healthy." But he also said there are "no guarantees" that the U.S. will avoid recession.
The economic highlight this week is the Federal Reserve interest-rate decision set for Wednesday. Along with its policy update, the Fed will release new quarterly projections on interest rates, unemployment and inflation for 2025 and beyond. Markets currently expect the Fed to wait until June to cut rates again, with just 31% odds of a cut in May.
Meanwhile, U.S. retail sales data missed estimates, coming in weaker than expected. Sales rose just 0.2% in February, below the 0.7% Econoday estimate after dropping by 0.9% in January.
Key earnings reports in the coming week include Nike and FedEx, as well as a handful of China-based stocks, including PDD Holdings.
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Stock Market Today: Dow Jones Snaps Losing Streak
On Friday, the Dow Jones Industrial Average rallied 1.7%, snapping a four-day losing streak. The S&P 500 advanced 2.1%, as the Nasdaq composite jumped 2.6%.
Following the recent market rebound, now is an important time to read IBD's The Big Picture column for the updated exposure level.
Among the best companies to watch in the current stock market are Aon, Berkshire Hathaway, Tradeweb Markets and Uber Technologies.
Along with Apple and Nvidia, Dow Jones components making notable moves this week were Amazon.com, Microsoft and Travelers.
Check out IBD MarketSurge's "Breaking Out Today" list for top growth stocks that are moving above correct buy points. Check for potential breakouts on the "Near Pivot" list. To find additional stock ideas, check IBD Stock Lists like IBD 50, Big Cap 20 and Stocks Near A Buy Zone.
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Dow Jones: Travelers Eyes Buy Point
Dow Jones component and insurance giant Travelers closed within striking distance of a 263.08 handle buy point, according to MarketSurge chart analysis. Shares rallied nearly 2% morning action Monday.
Outside the Dow, Tradeweb Markets is tracing a cup with handle that has a 140.48 entry and is seeing firm support at its 50-day line so far. Meanwhile, the RS line triggered the blue dot, which is a sign of strong stock market outperformance. Shares gained 3% Monday.
Warren Buffett-headed Berkshire Hathaway rallied 2.1% Friday, at the top of the buy range above a 491.67 cup-base entry. Shares were up 1.3% Monday morning.
Uber has a handle entry at 82.10 and shares are looking for much-needed support at their 50-day line amid the ongoing pullback. The ride-share giant was a recent IBD Stock Of The Day. Uber stock gained 2.5% Monday.
Finally, IBD Leaderboard stock Aon is pulling back to a 395.33 buy point in a cup base following a recent breakout move. Its RS line hit a new high last week. Shares lost 0.7% Monday.
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Stock Market Today: Companies To Watch
These are four stocks in or near buy zones in today's stock market, including a Dow Jones leader and the Warren Buffett-led stock.
| Company Name | Symbol | Correct Buy Point | Type Of Buy Point |
|---|---|---|---|
| Uber Technologies | 82.10 | Cup with handle | |
| Travelers | 140.48 | Handle entry | |
| Berkshire Hathaway | 491.67 | Cup base | |
| Tradeweb Markets | 140.48 | Cup with handle |
Source: IBD Data as of March 17
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Dow Jones Leaders: Amazon, Apple, Microsoft
Magnificent Seven stocks continue to face heavy selling pressure as investors rotate out into fresh sectors or defensive names. Dow Jones component Amazon is below its 200-day line following big losses in recent weeks. Amazon moved down 0.5% early Monday.
Apple, which snapped a four-day losing streak Friday, remains far below its 200-day line amid recent losses. Apple stock edged up in morning trades Monday.
Finally, software giant Microsoft dropped 0.2% Monday. Shares hit a new 52-week low last week.
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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