The Dow Jones Industrial Average and other major indexes traded mixed in morning action Monday, as Nvidia sold off amid reports it is under investigation by China for violations of anti-monopoly law. On the upside, Tesla raced higher on the stock market today after a brokerage's price-target hike.
After the opening bell, the Dow Jones Industrial Average rose less than 0.1%, as the S&P 500 dropped 0.1%. The tech-heavy Nasdaq composite inched higher in morning trades.
Early Monday 10-year Treasury yield ticked higher to 4.18%. Oil prices climbed, as West Texas Intermediate futures traded around $68.25 per barrel.
Among exchange traded funds, the Invesco QQQ Trust fell 0.1%, while the SPDR S&P 500 ETF edged lower after the open.
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Stock Market Today: Nvidia Slides
Nvidia stock sold off 2% Monday after Bloomberg reported that China is investigating Nvidia over potential violations of that nation's antimonopoly law with its acquisition of Israeli chip designer Mellanox Technologies.
The artificial intelligence titan is trying to continue its rebound from the 50-day moving average line. That earlier rebound placed Nvidia stock in a new buy area, but now shares are pulling back again to that level.
Elsewhere, Tesla rallied 2.2% Monday, hitting more new highs. Early Monday, Deutsche Bank raised its price target from 295 to 370. Meanwhile, Tesla announced the Model Q, a new, more affordable electric vehicle due for launch in the first half of next year. The car is said to be priced below $30,000 after subsidies.
Key earnings reports this week include software names Oracle, C3.ai and Adobe, along with Costco Wholesale.
Also this week, inflation reports in focus will be Wednesday's expected consumer price index and the producer price index, due Thursday. These offer a preview of the core personal consumption expenditures — or PCE — price index, due on Dec. 20. The index is seen as the Fed's primary inflation gauge.
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Dow Jones Falls
On Friday, the Dow Jones Industrial Average dipped 0.3%, while the S&P 500 moved up 0.3% to new highs. The tech-heavy Nasdaq composite climbed 0.8%, also hitting a new high.
Among the best companies to watch on the stock market today are Broadcom, Embraer, Heico, Tradeweb Markets and Trip.com.
Dow Jones components making notable moves were Amazon.com, Apple, Microsoft, Nvidia and Travelers.
Apple 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: Travelers Eyes Buy Point
Dow Jones leader Travelers is just below a 269.05 buy point in a cup-with-handle base, according to MarketSurge pattern recognition. Shares fell 1.6% Monday.
Outside the Dow Jones index, AI giant Broadcom is approaching a 185.05 double-bottom entry after Friday's bullish move. Broadcom stock was down 0.3% early Monday.
IBD Leaderboard stock Heico is back below a 269.38 flat-base entry following Friday's 2% decline. Shares dropped 1.6% early Monday.
Embraer is in buy range above a 37.30 flat-base entry after a three-day win streak. Shares climbed 1.2% Monday morning.
Tradeweb tumbled Friday, closing squarely below a 136.13 entry in a flat base. Tradeweb stock reversed up 0.2% in early action Monday.
Finally, Trip.com shares rallied 2.8% Friday, closing just shy of a 69.67 buy point in a flat base. The China-based travel stock jumped more than 11% Monday morning.
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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 |
|---|---|---|---|
| Tradeweb | 136.13 | Flat base | |
| Sherwin-Williams | 392.57 | Flat base | |
| Broadcom | 185.05 | Double bottom | |
| TJX | 121.13 | Flat base |
Source: IBD Data as of Dec. 9
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Magnificent Seven Stocks: Alphabet, Meta
Among Magnificent Seven stocks, Alphabet edged higher after the opening bell. Shares are building a cup with handle that has a 182.49 buy point.
Meta Platforms is breaking out past a flat base's 602.95 entry and in buy range. Shares fell 0.3% Monday.
Dow Jones Leaders: Amazon, Apple, Microsoft
Among Dow Jones components in the Magnificent Seven, Amazon stock rallied sharply in recent sessions, decisively retaking a 201.20 buy point and hitting new highs. It climbed 0.9% in morning trading Monday.
Shares of Apple are breaking out above a flat base's 237.49 entry. The stock was up 0.4% Monday morning.
Microsoft shares fell 0.3% Monday morning. The stock closed Friday at its highest level since late July.
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.
