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 awaited this week's big earnings reports from Apple, Alphabet and Microsoft. Magnificent Seven stocks Nvidia and Tesla closed Monday just below their recent buy points.
Key earnings reports late Monday include Cadence Design Systems and Ford Motor. Cadence rallied more than 6% in extended trading, while Ford stock skidded over 4%.
This week's heavy economic calendar is highlighted by Friday's jobs report. While results will be distorted by the impact of hurricanes and the Boeing strike, economists still expect 125,000 new jobs in October, including 115,000 private jobs, as the unemployment rate holds, FactSet says, at 4.1%.
Further, the core PCE price index, the Fed's primary inflation gauge, will be updated for September with the Commerce Department's personal income and outlays report early Thursday.
Nvidia stock declined 0.7% Monday, after being just shy of record highs, now back below a 140.76 buy point in a consolidation. Last week, electric-vehicle giant Tesla broke out past a 264.86 buy point in a cup with handle. But shares reversed down 2.5% Monday, giving up their entry.
Nvidia Still King, But This 'Big Daddy' Crushes All Other Mag 7 Stocks
Stock Market Today
On Monday, the Dow Jones Industrial Average climbed 0.7%, while the S&P 500 gained 0.3%. And the tech-heavy Nasdaq composite rose 0.3%.
Among the best companies to watch on the stock market today are Costco Wholesale, MercadoLibre, On Holding and Uber Technologies.
Notable Dow Jones components are Amazon.com, Apple, Goldman Sachs and Microsoft.
Goldman and Tesla 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 higher to 4.27%, its highest level since July 24. And oil prices tumbled more than 5%, as West Texas Intermediate futures settled below $68 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 Retakes Buy Point
Dow Jones financial leader Goldman Sachs bullishly regained a consolidation base's 517.26 buy point Monday, according to MarketSurge pattern recognition.
Outside the Dow Jones index, Costco is nearing a 923.83 buy point in a flat base, as it looks for support around the 50-day moving average line.
Retail giant MercadoLibre is working on a flat base with a 2,161.73 buy point. The stock is also right at the 50-day moving average. Shares gained 0.9% early Tuesday.
Footwear retailer On Holding is rebounding from its 50-day line. Shares are above an early entry at 50.11 from the Oct. 17 high.
Finally, Uber Technologies has fallen sharply below an 82.14 buy point in a consolidation amid recent losses. The company reports earnings later this week.
Apple Staves Off Fierce Challenge From Nvidia — For Now
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
Among Magnificent Seven stocks, Alphabet and Meta Platforms closed higher in Monday's trading.
Google parent Alphabet rebounded 0.9% Monday, bouncing from support around the 50-day line. The stock is still 13% off its 52-week high.
Meta stock hit a fresh high in recent weeks, extended above a 544.23 alternate entry. Shares added 0.9% Monday, extending a win streak to three sessions.
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 back in buy range above a 232.92 buy point in a cup with handle after Monday's 0.9% gain. And Microsoft shares show a 441.85 early entry.
Be sure to follow Scott Lehtonen on X/Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones Industrial Average.
