Dow Jones futures, along with S&P 500 futures and Nasdaq 100 futures, were lower ahead of Tuesday's stock market open.
Nvidia and Tesla were losers on the stock market today, even as the Dow Jones Industrial Average rallied more than 350 points.
Nvidia declined nearly 2% Monday. Shares have rebounded a bit from their March 11 lows, but are still holding below their 50- and 200-day moving averages. Nvidia stock edged lower in extended trading.
The artificial intelligence titan is holding its semiannual GTC conference that kicked off Monday in San Jose, Calif. Nvidia touts the show as "the world's premier AI conference."
Chief Executive Jensen Huang will give a keynote speech at GTC on Tuesday. He plans to discuss what's next in agentic AI, robotics and accelerated computing. Analysts expect Nvidia to unveil its GB300 AI chip at the show.
Finally, Tesla tumbled 4.8%, erasing Friday's rebound. Shares are more than 51% off their record high of 488.54, reached on Dec. 18. Tesla stock dropped 0.3% in evening trading.
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Trump Tariff Uncertainty; Fed Meeting Looms
On Monday afternoon, National Economic Council Director Kevin Hassett warned of "some uncertainty" in the coming weeks over President Donald Trump's incoming tariffs.
"Absolutely, between now and April 2, there'll be some uncertainty," Hassett commented on CNBC. The Trump administration unveils reciprocal tariffs tailored to level the playing field against each U.S. trading partner on April 2.
Meanwhile, the economic highlight this week is the Federal Reserve interest-rate decision set for Wednesday. Wall Street will comb the Fed's policy statement for any subtle changes in the Fed assessment of the economy. Expectations also call for a stop to the Fed's shrinking its balance sheet, at least temporarily. New quarterly projections could tweak the expected trajectory for the Fed's key rate and inflation. However, markets will likely take their signal from Powell's subsequent news conference.
Key earnings reports in the coming week include Nike and FedEx, as well as a handful of China-based stocks, including PDD Holdings.
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Dow Jones Futures Today: Oil Prices, Treasury Yields
On Monday, the Dow Jones Industrial Average rallied 0.9%, or 353 points, while the S&P 500 gained 0.6% and the Nasdaq rose 0.3%.
Ahead of Tuesday's opening bell, Dow Jones futures dropped 0.2%, while S&P 500 futures lost 0.3%. Tech-heavy Nasdaq 100 futures were off 0.4% 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 lower to 4.3%. And oil prices rose, as West Texas intermediate futures settled around $67.50 a barrel.
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Breakout Stocks To Watch
There were a number of breakouts on the stock market today, a welcome sight following the recent heavy losses on the major stock indexes.
Notably, Ryan Specialty and Tradeweb Markets broke out past new buy points.
Ryan Specialty rallied above a 71.33 cup-with-handle entry, but volume was lackluster. It was a similar story for Tradeweb, which topped a 140.48 cup-with-handle entry. Again, volume was below average. Weak volume on the breakout day is a sign of less-than-ideal institutional demand.
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What To Do Now After Dow Jones Rally
Following Monday's stock market rally, 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.
Due to the persistent weak action among the major stock indexes and top growth stocks, investors should be mostly, if not entirely, in cash. That's a key element of risk management during weak stock market environments.
Instead, investors should be creating and monitoring watchlists of stocks that are holding up better than the rest. They could be market leaders when the market trend shifts.
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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.
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