The Dow Jones Industrial Average and other major stock indexes traded higher early Monday, as Wall Street awaited President Donald Trump's latest round of tariffs. Early movers on the stock market today were Tesla, which fell sharply, and McDonald's, which rallied on earnings.
After the opening bell, the Dow Jones Industrial Average rose 0.3%, while the S&P 500 climbed 0.4%. The tech-heavy Nasdaq composite traded up 0.8% in early morning trades.
The 10-year Treasury yield ticked lower to 4.48% early Monday. And oil prices rose, with West Texas Intermediate futures trading around $71.85 per barrel.
Among exchange traded funds, the Invesco QQQ Trust was up 0.8%, as the SPDR S&P 500 ETF rose 0.4% after the open.
Tesla skidded another 3.4% Friday, further below the 50-day line and hitting its lowest level since early December. Shares are 26% off their 52-week high. And Tesla stock moved down another 3% in early morning trading Monday.
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New Trump Tariffs Due, Earnings Movers
President Trump said Sunday that he'll hike tariffs on all steel and aluminum imports by 25% on Monday. He also said he will announce reciprocal tariffs later in the week on other countries that impose duties on U.S. goods.
Last week, Trump hiked China tariffs across the board by 10%, while suspending 25% tariffs on Mexico and Canada for 30 days after Mexican President Claudia Sheinbaum and Canadian Prime Minister Justin Trudeau committed to step up efforts to stop drug smuggling across the border.
In stocks, McDonald's jumped 5% despite mixed fourth-quarter results. Shares are building a flat base that has a 317.90 buy point.
Other earnings movers include Monday.com and On Semiconductor. Monday stock soared 27%, while shares of Onsemi tumbled more than 4% during morning trading.
Notable companies reporting earnings this week include Robinhood, Shopify, AppLovin, DoorDash and Reddit.
On the economic front, two key inflation reports are due out this week: the consumer price index on Wednesday and Thursday's producer price index.
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Stock Market Today: Dow Jones Falls
On Friday, the Dow Jones Industrial Average declined 1% as did the S&P 500. The Nasdaq sold off 1.4%.
Among the best companies to watch in the current stock market are Netflix, Royal Caribbean, Shopify and TJX.
Along with Apple and Nvidia, Dow Jones components making notable moves were Amazon, Home Depot and Microsoft .
Amazon was featured in this Stocks Near A Buy Zone column.
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: Home Depot Shows New Buy Point
Dow Jones component Home Depot has added a handle to a cup base, taking the buy point to 426.19, according to MarketSurge pattern recognition. Shares of the home improvement giant added 0.9% Monday.
Outside the Dow, streaming giant Netflix is out of the buy zone past a 941.75 entry in a flat base following recent gains. Shares moved up more than 1% Monday.
Cruise operator Royal Caribbean is squarely in a buy range above a 258.79 flat-base entry despite Friday's losses. The stock added 0.9% Monday morning.
Shopify broke out past a 120.27 buy point this week. Previously, the stock topped a 115.37 double-bottom entry. Shopify shares jumped 3.8% Monday.
Retailer TJX is approaching a 128 buy point in a flat base, as the stock continues to find support at its 50-day moving average. TJX stock tacked on 0.6% 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 |
|---|---|---|---|
| Netflix | 941.75 | Flat base | |
| Walmart | 96.18 | Flat base | |
| Spotify | 506.47 | Flat base | |
| Meta Platforms | 602.95 | Flat base |
Source: IBD Data as of Jan. 28
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Nvidia Stock Looks To Extend Win Streak
Artificial intelligence titan Nvidia rallied another 0.9% Friday, extending a win streak to four sessions. Shares of the Dow Jones component remain below their 50-day line, the next resistance level to watch.
Nvidia stock added 3.5% Monday morning.
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Dow Jones Leaders: Amazon, Apple, Microsoft
Besides Nvidia, another Dow Jones component in the Magnificent Seven is Amazon, which tumbled below a 233 buy point Friday, with a 4% earnings-fueled sell-off. Shares bounced 0.3% early Monday.
Apple stock, which sold off 2.4% Friday, continues to consolidate below the 50-day line. And shares rebounded 0.8% Monday.
Finally, software giant Microsoft moved up 0.8% Monday. Shares have plunged below their 50-day line in recent weeks.
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.
