Dow Jones futures, along with S&P 500 futures and Nasdaq 100 futures, were higher ahead of Tuesday's open.
Nvidia tumbled 3.1% Monday, breaching support at the 50-day moving average line. That's a key level to watch. A decisive rebound from that level would be bullish for Nvidia stock's immediate prospects and could lead to another buying opportunity. Conversely, a sharp break of that level would likely lead to more downside.
Nvidia earnings steal the spotlight this week. Numbers are due out Wednesday after the market close. The most important part of the report will be Nvidia's earnings and sales outlook, in particular what the tech giant says about its Blackwell chip. Now Nvidia's showcase AI chip, Blackwell began shipping late last year. Any sign of an unimpressive Blackwell sales ramp could spell trouble for Nvidia.
Meanwhile, Palantir Technologies plunged 10.5%, extending a losing streak to four sessions. Shares are already 28% off their 52-week high.
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Trump Tariffs, Inflation Data, Earnings Reports
During a joint press conference with French President Emmanuel Macron on Monday, President Donald Trump said the tariffs on Canada and Mexico are "going forward on time, on schedule." The tariffs are set to start on March 4.
Elsewhere, the Federal Reserve's primary inflation rate, part of the Commerce Department's personal income and outlays report on Friday, headlines this week's economic data. Disinflation progress tops Wall Street's wish list, giving the Fed leeway to look past any temporary rise in prices due to tariffs. Personal consumption expenditures are likely to be soft, following strong gains in recent months and a pullback in January retail sales.
In stocks, other artificial intelligence plays due to report include Salesforce, Snowflake and C3.ai. Meanwhile, Home Depot and Lowe's will head up the late-season rush of retail earnings reports.
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Dow Jones Futures Today: Oil Prices, Treasury Yields
On Monday, the Dow Jones Industrial Average rose 0.1%, while the S&P 500 lost 0.5% and the Nasdaq sold off 1.2%.
Ahead of Tuesday's opening bell, Dow Jones futures climbed 0.3% vs. fair value, while S&P 500 futures moved up 0.2%. Tech-heavy Nasdaq 100 futures were up 0.1% 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 lower to 4.4%. And oil prices rose, as West Texas intermediate futures settled around $70.80 a barrel.
Sorry, Nvidia. Apple Is Still The King Of This Realm.
Earnings Movers: Hims & Hers, Zoom
Big earnings movers late Monday were Hims & Hers Health and Zoom Communications.
Hims stock crashed more than 18% in extended trading, while shares of Zoom sold off 1% in evening trading.
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What To Do Now: Dow Jones Below Key Level
Now is an important time to read IBD's The Big Picture column. After Monday's session, be sure to check out today's updated exposure level.
On Monday's "IBD Live" show, the team discussed the current trading conditions of the stock market action.
Amid the weakness, investors should be utilizing diligent risk management, one of the four pillars of The IBD Methodology. It's important to monitor positions that are acting out of character and sell any stocks that trigger sell rules.
Nvidia, Apple, Palantir Reveal Investing Secrets — And This Routine
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.
