The Dow Jones Industrial Average and other major stock indexes rallied Monday on reports that President Donald Trump may exclude some countries from his reciprocal tariffs. Meanwhile, Nvidia and Tesla were early winners on the stock market today.
Early Monday, the Dow Jones Industrial Average traded 1.2% higher, or 500 points. The S&P 500 climbed 1.5%. And the tech-heavy Nasdaq composite advanced 1.8%. (See our complete stock market analysis after Monday's close, and our coverage of stock action in Tuesday trading.)
The 10-year Treasury yield ticked higher to 4.3% early Monday. And oil prices rose, as West Texas Intermediate futures traded near $68.40 per barrel.
Among exchange traded funds, the Invesco QQQ Trust moved up 1.7%, while the SPDR S&P 500 ETF gained 1.4% after the open.
Meanwhile, Nvidia stock rallied 2% in morning trading Monday. The artificial intelligence titan slipped 0.7% Friday, ending a two-day rally. Shares are holding below their 50-day and 200-day moving averages.
Tesla stock rallied more than 5% Friday, but still extended a weekly losing streak to nine. The Elon Musk-led company raced another 7.8% higher in early trading Monday.
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Stock Market Today: Trump Tariff News
The Trump administration may exclude some countries from his reciprocal tariffs on April 2, and is considering not imposing new, separate sector-specific tariffs on automobiles, pharmaceuticals and semiconductors, according to multiple reports.
Elsewhere, the Federal Reserve's key inflation rate for February highlights the coming week's economic releases. Also due are two consumer confidence reports showing whether sentiment is stable or continuing to deteriorate.
The core personal consumption expenditures index or PCE, scheduled for Friday, is expected to rise 0.33% on the month and 2.7% from a year ago, according to FactSet. The inflation data is part of the personal income and outlays report, expected to show income up 0.35% and spending up 0.2%.
New home sales and The Conference Board consumer survey are scheduled for Tuesday. The University of Michigan's final March consumer sentiment tally is also due out on Friday morning.
Earnings season is winding down, but a few notable companies that are reporting this week include McCormick, Lululemon Athletica, RH, Dollar Tree, GameStop and KB Home.
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Dow Jones Rises
On Friday, blue chips on the Dow 30 edged higher, holding right at the long-term 200-day moving average. The S&P 500 moved up 0.1%, while the Nasdaq composite climbed 0.5%.
Amid the ongoing rally attempt, now is an important time to read IBD's The Big Picture column for how to handle the current market and to track the updated exposure level.
Among the best companies to watch in the current stock market are Berkshire Hathaway, Tradeweb Markets, Bowhead Specialty and LandBridge.
Along with Apple and Nvidia, Dow Jones components making notable moves this week were Amazon.com, Microsoft and Cisco Systems.
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 Stocks: Cisco Eyes Buy Point
Dow Jones component and networking giant Cisco Systems is tracing a flat base that has a 66.50 buy point, according to MarketSurge chart analysis. But shares remain below their 50-day line, despite rising 1.3% in morning action Monday.
Outside the Dow, Tradeweb Markets closed above a cup-with-handle's 140.48 entry following last week's breakout move. Shares were up 0.8% Monday.
Warren Buffett's Berkshire Hathaway hit new highs last week, just out of the buy range above a 491.67 cup-base entry. Shares added 0.3% Monday morning.
Insurance leader Bowhead Specialty is breaking out past a 37.81 buy point in a cup base, but slipped below the entry after a 2.3% drop Friday, according to IBD MarketSurge pattern recognition. Bowhead shares gained 2.7% Monday morning.
Finally, IBD Leaderboard stock LandBridge is in the 5% buy zone above a 76.22 buy point in a double bottom. Its RS line hit a new high last week. LandBridge stock moved 2.7% higher in early action 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.
| Company Name | Symbol | Correct Buy Point | Type Of Buy Point |
|---|---|---|---|
| Bowhead Specialty | 37.81 | Cup base | |
| Cisco Systems | 66.50 | Flat base | |
| Berkshire Hathaway | 491.67 | Cup base | |
| Tradeweb Markets | 140.48 | Cup with handle |
Source: IBD Data as of March 24
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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 sits below its 200-day line following big losses in recent weeks. Amazon moved up 3.3% early Monday.
Apple, which continues to rebound from its recent lows, remains far below its 200-day moving average line amid heavy losses. Apple stock gained 0.9% in morning trades Monday.
Finally, software giant Microsoft rose 0.2% Monday. Shares hit a new 52-week low in recent weeks, but are rebounding.
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.
