Dow Jones futures, along with S&P 500 futures and Nasdaq 100 futures, were lower ahead of Tuesday's stock market open. Google stock broke out past a new buy point Monday, while Tesla will report its first-quarter deliveries Tuesday.
Wall Street expects the electric-vehicle giant to report Q1 deliveries of 457,000 units, according to FactSet. This number started last week at 471,000 and has steadily dropped ahead of Tesla announcing global delivery numbers. The 457,000 consensus figure likely includes several analyst forecasts that haven't been updated in weeks or months.
Tesla stock cut losses to 0.3% Monday, still more than 40% off its 52-week high.
Looking ahead, the Labor Department's March employment report, due out Friday, is expected to show that employers added 180,000 payroll positions for the month, including 157,500 workers in the private sector, according to FactSet's consensus estimate.
Late Monday, apparel brand PVH plunged more than 21% in premarket trading. PVH stock hit a multiyear high Monday.
Further, key earnings movers this week include Levi Strauss and payroll servicer Paychex.
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Stock Market Today
On Monday, the Dow Jones Industrial Average moved down 0.6% and the S&P 500 dipped 0.2%. The tech-heavy Nasdaq composite rose 0.1%.
Among the Magnificent Seven stocks, Alphabet was the big winner, up 3% to break out past a 153.78 buy point.
Finally, Dow Jones tech icons Apple and Microsoft ended mixed in today's stock market, with Apple down 0.9% and Microsoft up 0.9%.
Alphabet, Arista Networks, DraftKings and ServiceNow — plus Dow Jones components Disney, IBM and Verizon Communications — are among the best companies to watch on the stock market today.
ServiceNow featured in this Stocks Near A Buy Zone column.
Dow Jones Today: Oil Prices, Treasury Yields
Ahead of Tuesday's opening bell, Dow Jones futures fell 0.4%, while S&P 500 futures lost 0.3.% vs. fair value. Tech-heavy Nasdaq 100 futures were down 0.4% 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 rose to 4.32%. And oil prices rose, as West Texas intermediate futures settled just below $84 a barrel.
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Stock Market Rally: What To Do Now
Now is an important time to read IBD's The Big Picture column, with the stock market outlook in a confirmed uptrend. Following Monday's action, be sure to check out today's The Big Picture for an updated exposure level.
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 new buy points, like Google stock. Meanwhile, the MarketSurge "Near Pivot" list shows 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.
Dow Jones: Disney, IBM, Verizon
Disney broke out past a big cup-with-handle base's 112.92 buy point in recent weeks, according to IBD MarketSurge chart analysis. And shares closed out of buy range, despite a 0.7% drop.
IBM stock remains below a flat base's 196.90 buy point, with a 0.6% fall Monday. Shares are trying to find support around their 50-day line.
Telecom giant Verizon is building a cup base with a 43.21 entry, as the stock bullishly rebounds from its 50-day line.
4 Top Growth Stocks To Watch In The Stock Market Rally
Google Stock Breaks Out
Google parent Alphabet is breaking out past a 153.78 buy point in a consolidation, as the stock rallied 3% Monday.
Arista shares regained a 292.66 flat-base buy point, according to MarketSurge charts, with a 3.4% advance Monday.
Last week, DraftKings tumbled below its 46.52 buy point in a short consolidation. And the sports-betting giant fell further below that entry Monday, dropping 1%.
Finally, ServiceNow is trying to retake its 50-day line amid a two-day rally. Shares are building a flat base with an 815.32 entry.
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Stocks 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 |
|---|---|---|---|
| Disney | 112.92 | Cup with handle | |
| Arista Networks | 292.66 | Flat base | |
| DraftKings | 45.62 | Consolidation | |
| ServiceNow | 815.32 | Flat base |
Source: IBD Data As Of April 1, 2024
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Magnificent Seven Stocks: Nvidia
Among Magnificent Seven stocks, Nvidia stock inched higher Monday, holding at its recent lows. The AI giant is an IBD Leaderboard stock.
Shares remain just off their all-time highs, which were set on March 8.
Dow Jones Leaders: Apple, Microsoft
Among Dow Jones stocks in the Magnificent Seven, Apple and Microsoft traded mixed during Monday's stock market action.
Apple stock moved down 0.9% Monday, back near its recent lows. Shares remain sharply below their long-term 200-day line.
Microsoft shares ended a five-day losing streak Monday, as they rebounded 0.9%. The software giant is just off new highs.
Be sure to follow Scott Lehtonen on X/Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones Industrial Average.
