The Dow Jones Industrial Average rose Monday, as the major stock indexes paused after Friday's mixed stock market action. Hasbro, ON Semiconductor and Tyson Foods were key earnings movers Monday, while Peloton spiked on takeover reports.
Among the Dow Jones leaders, Apple rose 0.8% Monday, while Microsoft moved up 0.2% in today's stock market. American Express, a Dow Jones stock to watch, is nearing a new buy point.
Electric-vehicle leader Tesla rallied more than 2% Monday, as it looks to add to Friday's solid advance.
Among Friday's top stocks to buy and watch, Alphabet, CF Industries and Cheniere Energy are in or near new buy zones.
CF Industries, Microsoft and Tesla are IBD Leaderboard stocks. Alphabet was a recent IBD Stock Of The Day.
Dow Jones Today
After the stock market open Monday, the Dow Jones Industrial Average moved up 0.1%, while the S&P 500 gained 0.3%. The Nasdaq rose 0.9% in morning trade. Among exchange traded funds, the Nasdaq 100 tracker Invesco QQQ Trust rose 0.9%, and the SPDR S&P 500 ETF gained 0.3% after Monday's open.
The 10-year Treasury yield ticked slightly lower Monday morning. The 10-year Treasury yield closed at 1.93% Friday, the highest level since 2019. Meanwhile, U.S. oil prices traded down nearly 1%, as West Texas Intermediate crude traded below $92 a barrel. West Texas Intermediate briefly topped $93 a barrel last week.
Stock Market Rally
The major stock indexes posted mixed action Friday in the wake of January's jobs report. The Nasdaq and S&P 500 logged solid gains, while the Dow Jones industrials ended slightly lower. Amid the recent volatility, now is an important time to read IBD's The Big Picture column.
Friday's The Big Picture commented, "Amazon.com fueled a big rally for the Nasdaq composite Friday, although the stock market wasn't sure how to react initially to the January employment report, which came in much better than expected and prompted more selling in the bond market."
If you're new to IBD, consider taking a look at its stock trading system and CAN SLIM basics. Recognizing chart patterns is one key to the investment guidelines. IBD offers a broad range of growth stock lists, such as Leaderboard.
Investors also can create watchlists, find companies nearing a buy point, or develop custom screens at IBD MarketSmith.
Five Dow Jones Stocks To Watch Now
Stock Market Earnings: Hasbro, ON Semi, Tyson Foods
Hasbro, ON Semiconductor and Tyson Foods reported quarterly earnings ahead of Monday's market open.
Hasbro declined more than 2% early Monday after the company reported better-than-expected fourth-quarter results. HAS shares are about 10% from their 52-week high.
Onsemi reported strong fourth-quarter results Monday, sparking a nearly 7% advance in early trade. Shares are building a base, but remain nearly 20% off their 52-week high.
Tyson Foods advanced more than 9% Monday morning after the company's strong quarterly results. The stock hit a new high Monday and is at the 20%-25% profit-taking zone from a 81.11 cup-with-handle entry.
Peloton Soars On Takeover Reports
Peloton Interactive soared more than 26% Monday after the Wall Street Journal reported that Amazon is among a number of suitors interested in acquiring the stationary bike maker.
PTON shares ended Friday more than 80% off their 52-week high after topping out at 171.09 on Jan. 14, 2021.
Dow Jones Stocks To Watch: American Express
American Express decisively regained its 10-week moving average in recent weeks and continues to move up the right side of a new base with a 189.13 buy point, according to IBD MarketSmith chart analysis. Shares are just about 2% away from the new buy point. AXP stock inched lower Monday.
Bullishly, the stock's relative strength line is at new highs, indicating significant stock market outperformance.
Four Top Growth Stocks To Watch In The Current Stock Market Rally
Stocks To Watch: Alphabet, CF Industries, Cheniere
FANG stock Alphabet attempted a breakout past a 3,019.43 buy point following strong earnings results last week, but closed Friday about 5% below the new entry. GOOGL shares rose 0.5% Monday.
Fertilizer producer CF Industries is in buy range past an ascending base's 74.87 buy point. The 5% buy area runs up to 78.61. CF stock boasts a perfect 99 IBD Composite Rating, per IBD Stock Checkup. The stock traded down 1.5% Monday.
IBD Leaderboard stock Cheniere Energy is still above a 113.50 buy point in a flat base despite Friday's 0.7% dip, after recovering from a post-breakout slide. Its RS line hit another new high last week. Shares were up 2% Monday.
Join IBD experts as they analyze leading stocks in the current stock market rally on IBD Live
Tesla Stock
Tesla stock rose more than 2% Monday, looking to add to Friday's 3.6% gain. The stock found much-needed support at its long-term 200-day moving average in recent sessions. But Tesla shares remain sharply below their 50-day line and there is no proper entry in sight.
The stock traded as high as 1,243.49 on Nov. 4, but ended Friday about 26% off that 52-week high.
Dow Jones Leaders: Apple, Microsoft
Among Dow Jones stocks, Apple stock dropped 0.3% Friday, testing its 50-day line. Shares are again about 13% past a 153.27 buy point out of a cup-with-handle base, according to IBD MarketSmith chart analysis.
A new base is likely forming, but it is slightly too early for a proper buy point, but a decisive move past Thursday's high of 176.24 could be used as an early entry for aggressive investors. Apple shares rose 0.8% Monday.
Software leader Microsoft rallied 1.6% Friday, recovering a part of Thursday's 3.9% tumble. The top Dow Jones stock continues to build a new base, but is below the 50-day line. Shares edged up 0.2% Monday.
Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones Industrial Average.
