Dow Jones futures, along with S&P 500 futures and Nasdaq 100 futures, traded modestly lower ahead of Tuesday's open after President Donald Trump's tariff news sparked stock market gains Monday.
Apple, Nvidia, Palantir Technologies and Tesla were movers on the stock market today, as the Dow Jones Industrial Average rallied more than 300 points.
Apple climbed 2.2% to its highest level since April 3. Shares of the iPhone maker remain sharply below their 50- and 200-day moving averages. Apple stock was down 0.5% late.
Nvidia reversed from early gains to fall 0.6%. The 10-week line will be a key level to watch in the coming weeks. And Nvidia stock fell an additional 0.4% in extended trading.
Palantir stock jumped 4.6% Monday, closing right at the 50-day line, which it broke down below in late March. An early entry is available at 98.17, but Palantir fell 0.5% in evening action.
Finally, Tesla edged up, snapping a two-day losing streak. Shares are more than 48% off their record high of 488.54, reached on Dec. 18. Tesla stock headed down 0.3% in late trading.
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Stock Market Today: Trump Tariffs
Late Friday, President Donald Trump exempted Apple products, including the iPhone, from the additional 125% tariff on Chinese goods and 10% baseline levy on imports from other countries. Also exempt: other smartphones, servers, memory chips, solar cells, flat-panel TVs and many other tech goods that are often made in China.
However, Commerce Secretary Howard Lutnick told ABC News on Sunday morning that the reprieve is temporary, with the electronics exemptions only on the "reciprocal" tariffs. President Trump will impose sector tariffs on electronics and semiconductors in about a month, Lutnick said.
The fast-moving impact of Trump's tariffs on the economy may show up in the Empire State manufacturing survey, out Tuesday, and the Philly Fed survey on Thursday. The latest data shows that the tariffs have dented confidence but not necessarily economic activity, at least through March.
Retail sales, due Wednesday, are forecast to rise a strong 1.4% on the month, fueled by auto purchases before tariffs hit. Sales excluding autos and gas are seen rising a solid 0.5%.
In stocks, Netflix and UnitedHealth Group headline this week's earnings reports. Johnson & Johnson, Travelers and American Express are also due to report.
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Dow Jones Futures Today: Oil Prices, Treasury Yields
On Monday, the Dow Jones Industrial Average advanced 0.8%, or 312 points, while the S&P 500 gained 0.8% and the Nasdaq climbed 0.6%.
Ahead of Tuesday's opening bell, Dow Jones futures dropped 0.1%, as did S&P 500 futures. Tech-heavy Nasdaq 100 futures were also down 0.1%. 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 tumbled to 4.36%. And oil prices rose, as West Texas intermediate futures settled around $61.60 a barrel.
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Stocks To Watch: Life Time, MercadoLibre, Netflix, Spotify
Among the best stocks to watch Monday, Life Time Group rallied further above its 50-day line, closing just below a 32.85 buy point in a double bottom. The RS line triggered the blue dot on the MarketSurge chart, a sign of big stock market outperformance.
MercadoLibre offers a 2,202 buy point in a double bottom, according to IBD MarketSurge. But shares are about 8% below their entry as they look to retake their 50-day line.
Meanwhile, Netflix is just below its 50-day line ahead of this week's earnings report. A double bottom offers a 998.70 buy point.
Finally, Spotify moved up 1.1% Monday. 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 be avoiding 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 Rises
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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