Dow Jones futures, along with S&P 500 futures and Nasdaq 100 futures, traded modestly lower ahead of Tuesday's open following Monday's stock market recovery.
Nvidia, Palantir Technologies and Tesla were big movers on the stock market today, as the Dow Jones Industrial Average rallied more than 400 points.
Nvidia slashed losses to 1.2% Monday after falling as much as 5.5% intraday. Shares hit their lowest level since Sept. 6. Nvidia stock dropped 1% in extended trading.
Palantir stock sold off 1.7% Monday, further below its 50-day line following last week's heavy losses. Palantir lost 1.2% in evening action.
Finally, Tesla skidded 1.7%, falling sharply for a second straight session. Shares are 47% off their record high of 488.54, reached on Dec. 18. Tesla stock headed down 1.7% in evening trading.
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Trump Tariffs Set To Go Into Effect
On Wednesday, President Donald Trump is set to unveil "reciprocal" tariffs. The "Liberation Day" tariffs target other countries' duties and other trade barriers on U.S. goods. White House officials signaled on Sunday morning talk shows that Trump has yet to make a final decision about the size and shape of the coming tariffs.
But the Wall Street Journal reported Sunday that Trump is considering higher tariffs on a broader set of countries.
Meanwhile, 25% auto tariffs, announced by Trump on March 26, come into effect Thursday. Further, Trump's one-month suspension of 25% tariffs on many Canadian and Mexican goods is set to end in early April.
Along with the imminent Trump tariffs, Friday's March jobs report is the other main weekly economic highlight.
Economists think the unemployment rate ticked up to 4.2% in March, as employers added 125,000 payroll positions, including 120,000 in the private sector. Gains below 100,000 could pressure the Fed to act. Institute for Supply Management surveys on manufacturing and services, on Tuesday and Thursday, will provide the first broad look at economic conditions in March.
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Dow Jones Futures Today: Oil Prices, Treasury Yields
On Monday, the Dow Jones Industrial Average rallied 1%, or 417 points, while the S&P 500 gained nearly 0.6% and the Nasdaq edged lower.
Ahead of Tuesday's opening bell, Dow Jones futures dipped 0.3%, while S&P 500 futures lost 0.5%. Tech-heavy Nasdaq 100 futures dropped 0.6%. 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 4.24%. And oil prices rose, as West Texas intermediate futures settled around $71.30 a barrel.
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Breakout Stocks To Watch: Ollie's
Among breakout stocks Monday, Ollie's Bargain Outlet topped a 115.42 buy point in a double bottom, according to IBD MarketSurge, with a 2.8% gain in slightly above-average volume.
Meanwhile, IBD Leaderboard stock Life Time Group is trying to halt its recent decline at the 50-day line, a key level to watch. A short cup with handle offers a 32.85 buy point. Its relative strength line hit a new high last week.
But with the stock market in correction mode, investors should be avoiding new purchases. Instead, investors should place these leaders on a watchlist for review until the overall environment improves.
Tesla Tanks, Nvidia Slides — What's An Investor To Do? Start Here
What To Do Now After Dow Jones Rebound
Following Monday's bullish stock market action, now is an important time to read IBD's The Big Picture column for the updated exposure level.
On Monday's "IBD Live" show, the team discussed the current trading conditions of the stock market action.
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 the 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.
Be sure to follow Scott Lehtonen on X/Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones Industrial Average.
China Expansion Helps Fuel This AI-Powered Cloud Stock In Rough Market
