Dow Jones futures, along with S&P 500 futures and Nasdaq 100 futures, were narrowly lower ahead of Tuesday's stock market open. Magnificent Seven stocks Amazon.com, Apple, Meta Platforms, Microsoft and Tesla are in or near new buy zones.
This week's economic data is headlined by Friday's core Personal Consumption Expenditures price index, the Federal Reserve's favored inflation indicator. Estimates call for the index to rise 0.15% for the month. Personal consumption expenditures are seen gaining 0.3%, and personal income up 0.4%, according to FactSet.
Further, retailer Costco Wholesale, homebuilder KB Home and flash memory leader Micron Technology headline this week's earnings calendar.
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Stock Market Today: Dow Jones Hits New High
On Monday, the Dow Jones Industrial Average moved up nearly 0.2% to hit an all-time high. The S&P 500 gained 0.3%, as the tech-heavy Nasdaq composite rose 0.1%.
Among the best companies to watch in the stock market today are Arista Networks, DoorDash and Spotify.
Notable Dow Jones components are Amazon, Apple, Home Depot, Microsoft and Visa.
Spotify and Visa featured in this Stocks Near A Buy Zone column.
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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 each down 0.1% 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 3.74%. And oil prices paused, as West Texas intermediate futures settled around $70.50 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 current trading conditions amid the ongoing stock market rebound.
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.
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Dow Jones: Home Depot, Visa
Dow Jones payments stock Visa is just below a 290.96 flat-base entry, while Home Depot is in buy range past a handle buy point at 378.58, according to MarketSurge pattern recognition.
Outside the Dow Jones index, Arista Networks is in a buy zone past a 376.50 buy point in a consolidation. DoorDash ended Monday out of buy range above a cup-with-handle's 131.21 buy point.
Finally, Spotify shares are in buy range above a consolidation's 359.38 entry.
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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 | 442.80 | Flat base | |
| Taiwan Semiconductor | 175.45 | Cup with handle | |
| ServiceNow | 850.33 | Flat base | |
| Uber Technologies | 75.40 | Double bottom |
Source: IBD Data as of Sept. 23
Magnificent Seven Stocks: Alphabet, Nvidia, Tesla
Among Magnificent Seven stocks, Alphabet, Nvidia and Tesla traded mostly higher in Monday's trading.
Google parent Alphabet is testing resistance at the 50-day line following a strong rebound in recent weeks, as it reversed 1.1% lower Monday.
Nvidia shares ended modestly higher, right at the 50-day line, a key level to watch.
And Tesla raced nearly 5% higher Monday, its best close since July 22 and further above a 235 early entry. The electric-vehicle leader is building a cup base with a 271 buy point.
Dow Jones Leaders: Amazon, Apple, Microsoft
Among Dow Jones components in the Magnificent Seven, Amazon shares are approaching a 201.20 entry in a cup base.
Apple is close to a V-shaped cup with handle that shows a 232.92 entry. And Microsoft shares show a 468.35 cup entry, with an early buy trigger at 441.85.
Be sure to follow Scott Lehtonen on X/Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones Industrial Average.
