Dow Jones futures, along with S&P 500 futures and Nasdaq 100 futures, were modestly lower ahead of Tuesday's stock market open. Magnificent Seven stocks Nvidia and Tesla rebounded sharply, while Apple stock rose modestly after its iPhone 16 product launch event.
Late Monday, artificial intelligence giant Oracle surged more than 6% after the company's better-than-expected fiscal Q1 earnings and sales results. Shares are tracing a flat base with a 146.59 buy point.
Nvidia and Tesla rebounded 3.5% and 2.6%, respectively. Both Mag 7 stocks remain below their 50-day lines.
Apple shares inched higher Monday after the company kicked off its annual fall product launch Monday at its Cupertino, Calif., headquarters. Apple detailed the hardware upgrades, product specifications and pricing for the new handsets. The company touted the capabilities of its latest smartphone operating system, iOS 18, including new artificial intelligence features.
In economic news, Wednesday's consumer price index for August takes the economic spotlight, followed closely by Thursday's producer price index.
And while earnings season has tailed off, there are a few noteworthy reports in the coming week. Big Tech name Adobe plans to post earnings while GameStop and supermarket giant Kroger are also due.
Apple Seeks Support As Netflix Tries To Stop Buffering And Break Out
Stock Market Today: Dow Jones Rebounds
On Monday, the Dow Jones Industrial Average moved up 1.2% to snap back from Friday's sell-off. The S&P 500 and tech-heavy Nasdaq composite also rallied 1.2% each.
Among the best companies to watch on the stock market today are Costco Wholesale, Meta Platforms, Netflix, Taiwan Semiconductor Manufacturing and Uber Technologies.
Also on the list are Dow Jones components Amazon, Apple, Home Depot, IBM and Microsoft.
Apple and Uber were featured in this Stocks Near A Buy Zone column.
Find The Best Stocks To Buy And Watch With IBD Stock Screener And IBD Screen Of The Day
Dow Jones Today: Oil Prices, Treasury Yields
Ahead of Tuesday's opening bell, Dow Jones futures fell 0.1% vs fair value, while S&P 500 futures were unchanged. Tech-heavy Nasdaq 100 futures fell 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 lower to 3.69%, a new 52-week low, according to Dow Jones Market Data. And oil prices bounced after big losses in recent sessions, as West Texas intermediate futures settled around $68.60 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.
Nvidia Stumbles, Tesla Skids While This Mag 7 Stock Is Ripe For A Breakout
Dow Jones: Home Depot, IBM
Among Dow Jones components, Home Depot is just below a 378.58 handle buy point, according to MarketSurge pattern recognition. Meanwhile, IBM is moving further past its latest entry, a cup-with-handle buy point at 196.26.
Outside the Dow Jones index, retail giant Costco remains below its 896.67 cup-base entry despite a 2.1% rally Monday. Streaming giant Netflix is under its late-stage cup base's 697.49 buy point following last week's losses.
And Taiwan Semiconductor Manufacturing is building a cup with handle that has a 175.45 entry, but is below the 50-day line. Finally, Uber stock is near a 75.40 double-bottom entry.
Nvidia Loses Ground To Apple And Microsoft. Tesla Takes Out Broadcom.
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. 9
Magnificent Seven Stocks: Meta, Alphabet
Among Magnificent Seven stocks, Meta Platforms and Alphabet diverged Monday.
Meta stock rose 0.9% Monday, as the social media leader tries to find much-needed support at the 50-day line.
Search giant Alphabet tumbled another 1.5% Monday, sliding further below its long-term 200-day line and hitting its lowest level since mid-March.
Dow Jones Leaders: Amazon, Microsoft
Among Dow Jones stocks in the Magnificent Seven, Amazon, Apple and Microsoft finished mixed Monday.
Amazon stock is attempting to stem its ongoing slide around the 200-day line, and it climbed 2.3% Monday.
Microsoft shares rose 1% Monday, continuing to hold below their 200-day line as a new base looks to take shape.
Be sure to follow Scott Lehtonen on X/Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones Industrial Average.
