Dow Jones futures, along with S&P 500 futures and Nasdaq 100 futures, were little changed ahead of Tuesday's stock market open. The S&P 500 hit another high Monday, while Nvidia stock had a record high close with sharp gains.
It's a mostly quiet week for economic data, but new claims for unemployment benefits, out Thursday, should ratchet even higher due to the effects of Hurricane Milton. Economists expect initial claims to rise 12,000 to 270,000 in the week through Oct. 12, after jumping 33,000 the prior week, according to FactSet.
September retail sales, also on Thursday, will shed light on the strength of consumers. Economists expect a 0.45% overall rise from August and a 0.25% gain excluding autos, a moderate pickup after both rose a tepid 0.1% the prior month.
Nvidia stock rallied 2.4% Monday, closing at an all-time high. Shares are just shy of the all-time intraday high price at 140.76, which was set on June 20.
Key earnings reports this week include streaming giant Netflix and Nvidia chipmaker Taiwan Semiconductor Manufacturing. Both tech giants are set to report Thursday.
Wall Street Wags Its Tail At This Stock's 301% Run, Sees More Coming
Stock Market Today
On Monday, the Dow Jones Industrial Average climbed 0.5%, while the S&P 500 gained 0.8%. Both hit new highs. And the tech-heavy Nasdaq composite advanced 0.9%.
Among the best companies to watch on the stock market today are Ryan Specialty, Texas Roadhouse, Toast and Uber Technologies.
Notable Dow Jones components are Amazon, Apple, JPMorgan Chase and Microsoft.
Uber and JPMorgan featured in this Stocks Near A Buy Zone column.
Close, But No 'Perfect' Cigar For Nvidia, Broadcom. But Kudos To These 22 Gems.
Dow Jones Today: Oil Prices, Treasury Yields
Ahead of Tuesday's opening bell, Dow Jones futures, along with S&P 500 futures and tech-heavy Nasdaq 100 futures, were little changed 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 higher to 4.09%. And oil prices dropped, as West Texas intermediate futures settled around $74 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, Apple And Tesla Highlight How To Handle This Market
Dow Jones: JPMorgan Eyes Buy Point
Dow Jones financial leader JPMorgan is approaching a flat base that has a 225.48 buy point, according to MarketSurge pattern recognition.
Outside the Dow Jones index, insurance leader Ryan Specialty is at the top of a buy range above a 69.03 flat-base entry following a recent breakout move.
Texas Roadhouse continues to hover at a 177.72 flat-base entry amid a recent rebound.
Restaurant software provider Toast is in a buy zone above its 27.88 buy point despite three straight days of losses.
Finally, Uber Technologies broke out past an 82.14 buy point in a consolidation, with a 10.8% surge on Friday. Shares declined 1.6% Monday, still above the entry.
Broadcom Pulls Past Tesla As Amazon Locks Heads With Google
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 | 498.23 | Flat base | |
| Taiwan Semiconductor | 175.45 | Cup with handle | |
| ServiceNow | 850.33 | Flat base | |
| Uber Technologies | 82.14 | Consolidation |
Source: IBD Data as of Oct. 14
Magnificent Seven Stocks: Alphabet, Meta, Tesla
Among Magnificent Seven stocks, Alphabet, Meta Platforms and Tesla all closed higher in Monday's trading.
Google parent Alphabet is finding support around the 50-day line following a rebound in recent sessions.
Meta stock hit a fresh high last week, further above a 544.23 alternate entry, while Tesla shares staged a modest rebound after Friday's plunge through the 50-day line.
Dow Jones Leaders: Amazon, Apple, Microsoft
Among Dow Jones components in the Magnificent Seven, Amazon shares are approaching a 195.37 entry in a cup with handle.
Apple is right at a 232.92 buy point in a V-shaped cup with handle after Monday's 1.7% rally. And Microsoft shares show a 441.85 handle entry.
Be sure to follow Scott Lehtonen on X/Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones Industrial Average.
