The Dow Jones Industrial Average and other major stock indexes traded sharply lower Monday, as President Donald Trump failed to rule out a recession. Meanwhile, Apple, Nvidia and Tesla all sold off in morning action on the stock market today.
Early Monday, the Dow Jones Industrial Average tumbled as much as 500 points, or 1.2%, before paring losses to 0.8%, while the S&P 500 dropped 1.6%. The tech-heavy Nasdaq composite lost 2.4% in morning trades.
The 10-year Treasury yield ticked lower to 4.24% early Monday. And oil prices rose modestly, as West Texas Intermediate futures traded near $67.35 per barrel.
Among exchange traded funds, the Invesco QQQ Trust sank 2.4%, while the SPDR S&P 500 ETF moved down 1.6% after the open.
Nvidia stock reversed nearly 2% higher Friday after shares of the chipmaker closed at their lowest level since Sept. 10. The artificial intelligence giant sold off more than 2% in morning trading.
Meanwhile, Tesla fell for a second straight day Friday, down in 10 of the last 12 sessions. Shares hit their lowest level since Nov. 5, giving back the entirety of their Trump-fueled gains. Shares plunged another 7% in early trades on Monday.
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Trump Comments; CPI Index, Earnings Reports Loom
In a Fox News interview that aired Sunday, President Trump declined to rule out a recession this year, saying "There is a period of transition" that will eventually pay off for the economy.
The February consumer price index on Wednesday will headline the coming week's economic data. Wall Street expects further disinflation, as concerns shift from higher prices to lower growth.
But markets care more about the Federal Reserve's primary inflation rate, the core PCE price index, due on Thursday. It combines inputs from the CPI and the producer price index. In January, a hot core CPI reading was offset by some tame PPI data, especially cooling health care services inflation.
Earnings season slows this week, but Adobe and Oracle are the big tech names reporting. Dick's Sporting Goods leads a slew of retailers due to report.
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Stock Market Today: Dow Jones Climbs
On Friday, the Dow Jones Industrial Average climbed 0.5%, while the S&P 500 moved up 0.6% and the Nasdaq gained 0.7%. Last week, the Nasdaq had fallen more than 10% off its record close on Dec. 16, a common definition of a market correction.
Among the best companies to watch in the current stock market are Tradeweb Markets, Uber Technologies, Veeva Systems and Eli Lilly.
Along with Apple and Nvidia, Dow Jones components making notable moves Friday were Amazon.com, Microsoft and McDonald's.
Check out IBD MarketSurge's "Breaking Out Today" list for top growth stocks that are moving above correct buy points. Check for potential breakouts on the "Near Pivot" list. To find additional stock ideas, check IBD Stock Lists like IBD 50, Big Cap 20 and Stocks Near A Buy Zone.
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Dow Jones: McDonald's Breaks Out Past Buy Point
Dow Jones component McDonald's is breaking out past a cup-with-handle's 311.59 buy point, according to MarketSurge pattern recognition, with a 4% rally Friday. Shares dipped 0.4% in morning action Monday.
Outside the Dow, IBD Leaderboard name Eli Lilly fell below a handle entry at 889.36 due to Friday's 4.7% sell-off. Shares declined 1.1% early Monday.
Tradeweb Markets is tracing a flat base that has a 141.69 entry and is seeing firm support at its 50-day line so far. Shares sit just below an early entry at 134.85, the high on Feb. 21, following last week's losses. Shares fell 0.6% Monday.
Uber has a handle entry at 82.10 following a recent pullback. The stock was a recent IBD Stock Of The Day. Uber stock was off 2.5% Monday.
Finally, Veeva stock rallied 4.5% Friday, taking out an early entry at 240.95. Shares are also forming a cup base that has a 258.93 buy point. Shares of software leader moved down 1.3% Monday morning.
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Stock Market Today: Companies To Watch
These are four stocks in or near buy zones in today's stock market, including a Dow Jones leader.
| Company Name | Symbol | Correct Buy Point | Type Of Buy Point |
|---|---|---|---|
| Uber Technologies | 82.10 | Cup with handle | |
| McDonald's | 311.59 | Cup with handle | |
| Eli Lilly | 889.36 | Cup with handle | |
| Tradeweb Markets | 141.69 | Flat base |
Source: IBD Data as of March 10
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Dow Jones Leaders: Amazon, Apple, Microsoft
Magnificent Seven stocks continue to face heavy selling pressure as investors rotate out into fresh sectors or defensive names. Dow Jones component Amazon triggered a sell signal in recent weeks, falling sharply below a 233 buy point and trying to find support around the 200-day line. Amazon dropped more than 2% early Monday.
Apple, which rallied Friday, is attempting to recover its 50-day line. Shares are building a cup with handle that has a 250 entry. Apple stock lost 4.2% in morning trades Monday.
Finally, software giant Microsoft dropped 2.5% Monday. Shares remain sharply below their 50-day line and at their lowest level since January 2024.
Be sure to follow Scott Lehtonen on X at @IBD_SLehtonen for more on growth stocks, the Dow Jones Industrial Average and the stock market today.
