The Dow Jones Industrial Average and other major stock indexes traded mixed Monday as President Donald Trump's tariffs were set to take effect this week. Meanwhile, bitcoin and other cryptocurrencies soared as Trump offered more details on a strategic crypto reserve. And Nvidia and Tesla traded mixed in morning action.
As the market kicked off March's first trading session, the Dow Jones Industrial Average traded up 0.2%, as the S&P 500 edged lower. The tech-heavy Nasdaq composite fell 0.2% in early morning trades.
The 10-year Treasury yield ticked higher to 4.26% early Monday. And oil prices rose, as West Texas Intermediate futures traded around $70.25 per barrel.
Among exchange traded funds, the Invesco QQQ Trust lost 0.2%, while the SPDR S&P 500 ETF edged lower after the open.
On Friday, Nvidia rebounded 4%, finding support around its early February lows. But the stock remains below its 50- and 200-day moving averages, important levels to watch over the coming sessions. Further, Nvidia stock sold off 4% after the opening bell Monday.
Tesla raced nearly 4% higher Friday, snapping a six-day losing streak and finding much-needed support at the 200-day line. Shares remain around 40% off their 52-week high. And Tesla stock tacked on another 2.2% in early morning trading Monday.
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Bitcoin Soars, Trump Tariffs Loom
Bitcoin traded above $93,000 early Monday after hitting $95,136 at Sunday's high. The dominant digital currency had plunged from record highs in recent weeks, undercutting $80,000 at one point last week. It was at $84,108.22 as of 4 p.m. ET Friday.
President Trump expanded on his commitment for a U.S. crypto strategic reserve, calling for XRP, Solana and Cardano, or ADA, to be part of the reserve, along with bitcoin and ethereum. Trump issued an executive order Jan. 23 that mentioned such a reserve but cited no specifics.
The U.S. jobs report for February, due Friday, takes the economic spotlight this week, along with the ADP employment report and Fed Beige Book on Wednesday.
Meanwhile, Trump's tariffs against Canada and Mexico, and amplified tariffs against China are set to take effect on Tuesday.
In stocks, earnings season is in its final rounds, but a raft of retailers report in the coming week, including Costco Wholesale and AutoZone. Other companies reporting include CrowdStrike, Flutter and chip giant Broadcom.
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Stock Market Today: Dow Jones Rebounds
On Friday, the Dow Jones Industrial Average rallied 1.4%, while the S&P 500 and Nasdaq composite both advanced 1.6%.
Among the best companies to watch in the current stock market are Booking, Tradeweb Markets, Uber Technologies and Wells Fargo.
Along with Apple and Nvidia, Dow Jones components making notable moves Friday were Amazon.com, Microsoft and Goldman Sachs.
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: Goldman Sachs Above Buy Point
Dow Jones component Goldman Sachs is trying to find support around a flat base's 612.73 buy point, according to MarketSurge pattern recognition. Shares were up 0.1% in morning action Monday.
Outside the Dow, IBD Leaderboard name Wells Fargo is just above a cup base's 78.13 buy point following Friday's rally. Wells Fargo stock gained 0.4% early Monday.
Travel site Booking is building a cup with handle that has a 5,282 buy point. Shares ticked higher Monday.
Tradeweb Markets is tracing a flat base that has a 141.69 entry and, so far, firm support at its 50-day line. Shares took out an early entry at 134.85, the high on Feb. 21, on Friday. Shares were up 2.4% early Monday.
Finally, Uber has a handle entry at 82.10 following a recent pullback. The stock was Thursday's IBD Stock Of The Day. Uber stock rallied 1.2% 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 |
|---|---|---|---|
| Booking | 5,282 | Cup with handle | |
| Goldman Sachs | 612.73 | Flat base | |
| Wells Fargo | 78.13 | Cup base | |
| 40.90 | Cup with handle |
Source: IBD Data as of Feb. 28
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Dow Jones Leaders: Amazon, Apple, Microsoft
Magnificent Seven stocks have been under concerted pressure as investors rotate out into fresh sectors or defensive names. Dow Jones component Amazon triggered a sell signal after falling below a 233 buy point last week. Amazon fell 0.5% early Monday.
Apple, which rallied 1.9% Friday, is back above the 50-day line. Shares are building the right side of a new base that offers a 260.10 entry and inched downward in morning trades Monday.
Finally, software giant Microsoft moved down 0.6% Monday. Shares are sharply below their 50-day line and at their lowest level since early August.
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.
