Dow Jones futures, along with S&P 500 futures and Nasdaq 100 futures, traded higher ahead of Tuesday's open. President Donald Trump called Federal Reserve Chairman Jerome Powell a "major loser" Monday, sparking heavy stock market losses.
Apple, Nvidia and Tesla were big decliners on the stock market today, as the Dow Jones Industrial Average tumbled more than 970 points.
Apple sold off 1.9%, down three of the last four trading sessions. Shares of the iPhone maker remain sharply below their 50- and 200-day moving averages. Apple stock was down 0.2% late.
Nvidia sold off 4.5%, extending a losing streak to three sessions. The 10-week line will be a key level to watch in the coming weeks. And Nvidia stock fell an additional 0.9% in extended trading.
Finally, Tesla skidded 5.8%, back near its early April lows ahead of Tuesday's first-quarter earnings report. Shares are more than 53% off their record high of 488.54, reached on Dec. 18. Tesla stock headed down 0.9% in late trading.
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Stock Market Today: Trump Calls Powell 'Loser'
Early Monday, Trump attacked Fed Chair Powell in a Truth Social post, saying "there can be a SLOWING of the economy unless Mr. Too Late, a major loser, lowers interest rates, NOW."
Last week, Trump said Powell is always too late and wrong, and said his exit "cannot come fast enough." The remarks appeared to be a reaction to Powell's comments about big Trump tariffs spurring higher inflation and weaker growth, and his view that the Fed can still await more "clarity."
For his part, Powell has said he cannot be fired and that he intends to end his term in May 2026.
In other economic news, China warned other countries not to strike trade deals with the U.S. at Beijing's expense. The Trump administration has been seeking to isolate China even as it imposes huge duties on goods from other countries.
Later in the week, notable results include those from Alphabet and Tesla, along with Dow Jones names Verizon Communications and Boeing.
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Dow Jones Futures Today: Oil Prices, Treasury Yields
On Monday, the Dow Jones Industrial Average dived 2.5%, or 971 points, while the S&P 500 sold off 2.4% and the Nasdaq tumbled 2.6%.
Ahead of Tuesday's opening bell, Dow Jones futures rose 0.6%, while S&P 500 futures gained 0.7%. Tech-heavy Nasdaq 100 futures were up 0.7%. 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 4.4%. And oil prices declined, as West Texas intermediate futures settled around $62.70 a barrel.
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Stocks To Watch: MercadoLibre, Netflix And Spotify
Among the best stocks to watch Monday, MercadoLibre offers a 2,202 buy point in a double-bottom base, according to IBD MarketSurge. But shares are about 7% below their entry as they look to hold above their 50-day line.
Meanwhile, Netflix is trying to break out past a 998.70 buy point following the company's Q1 earnings report.
Finally, Spotify reversed 2.7% lower Monday, hitting resistance at the 50-day line. Shares of the music streaming giant are building a double bottom with a 621.20 buy point.
But with the stock market in correction mode, investors should avoid new purchases. Instead, investors should place these leaders on a watchlist for review until the overall environment improves.
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What To Do Now After Dow Jones Falls
Following Monday's 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.
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