Dow Jones futures fell, while S&P 500 futures and Nasdaq 100 futures were higher ahead of Tuesday's stock market open. Former President Donald J. Trump's company, Trump Media, the parent company of social media platform Truth Social, soared following the failed assassination attempt.
Trump Media surged 31% Monday following the failed assassination attempt of the former president Saturday. Meanwhile, the federal judge in the classified documents case against Trump on Monday dismissed the indictment on the grounds the special counsel was improperly appointed, according to a court filing Monday.
In the aftermath of the assassination attempt, Trump received several high-profile endorsements from the investing and business community, including from Tesla CEO Elon Musk and billionaire hedge fund manager Bill Ackman.
Meanwhile, bitcoin stock Coinbase Global jumped more than 11% to retake its key 50-day line. The price of bitcoin climbed more than 5% over the last 24 hours, trading around $63,300, according to CoinDesk.
Retail sales highlight the coming week of economic data. The Fed is already concerned that modest-income Americans are financially stretched, and the June report could provide further evidence. Retail sales, out Tuesday morning, are expected to dip 0.1%, following May's tepid 0.1% rise, according to FactSet.
Elsewhere, Netflix, ASML Holding and Taiwan Semiconductor provide some of the stock market highlights of the coming week, with impending earnings reports.
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Stock Market Today
On Monday, the Dow Jones Industrial Average moved up 0.5% and the S&P 500 gained 0.3%. The tech-heavy Nasdaq composite climbed 0.4%.
Among the best companies to watch on the stock market today are Axos Financial, Carvana, KB Home and Palantir Technologies.
Also on the list are Dow Jones components Amazon, American Express, Apple, Goldman Sachs and Microsoft.
Goldman and KB Home are featured in this Stocks Near A Buy Zone column.
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Dow Jones Today: Oil Prices, Treasury Yields
Ahead of Tuesday's opening bell, Dow Jones futures dipped 0.1% vs. fair value, while S&P 500 futures moved up 0.1%. Tech-heavy Nasdaq 100 futures rose 0.2% 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 higher to 4.22%. And oil prices eased, as West Texas intermediate futures settled around $82 a barrel.
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Stock Market Today: What To Do Now
Now is an important time to read IBD's The Big Picture column amid the ongoing stock market rally. Following Monday's action, be sure to check out today's The Big Picture and today's exposure level.
On Monday's IBD Live show, the IBD Live team discussed current trading conditions.
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. Notably on that list, TechnipFMC broke out past a 27.30 buy point in a flat base on the stock market today. Meanwhile, the MarketSurge "Near Pivot" list shows more stocks nearing buy points in bases.
To find more stock ideas, check IBD Stock Lists like 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.
Dow Jones Stocks: American Express, Goldman Sachs
Dow Jones stocks worth watching include payments giant American Express, which is within striking distance a flat base's 133.10 entry, according to MarketSurge pattern recognition. And Goldman is in buy range above a 471.48 flat-base entry following the company's Q1 earnings report.
Outside the Dow Jones index, Axos Financial is breaking out above a 63 buy point in a cup base, with sharp gains Monday. Carvana moved further out of buy range above its 129 buy point in a cup base.
Homebuilder KB Home added to last week's breakout move past a 74.66 flat-base entry, with a 0.6% rise Monday. And Palantir Technologies extended its gains above its 27.50 entry during Monday's 2.2% rise. In recent weeks, the stock broke out past a 26.57 handle buy trigger.
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Stock Market Today: Companies To Watch
These are four stocks in or near buy zones in today's stock market.
| Company Name | Symbol | Correct Buy Point | Type Of Buy Point |
|---|---|---|---|
| Carvana | 129 | Cup base | |
| KB Home | 74.66 | Flat base | |
| Palantir | 26.57 | Handle entry | |
| Amazon | 191.70 | Flat base |
Source: IBD Data As Of July 15, 2024
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Magnificent Seven Stocks: Nvidia, Tesla
Among Magnificent Seven stocks, Tesla stock moved up 1.8% Monday, adding to Friday's rebound. Shares are up big since mid-June.
Nvidia stock gave up a part of Friday's bounce, moving down 0.6% Monday. Shares remain sharply above a split-adjusted alternative buy point at 97.40. The artificial intelligence leader also is an IBD Leaderboard stock.
Dow Jones Leaders: Amazon, Apple, Microsoft
Among Dow Jones stocks in the Magnificent Seven, Amazon is testing a 191.70 buy point in a flat base following a recent breakout move amid a three-day losing streak.
Apple stock rose 1.7% Monday, hitting more record highs. Shares are extended above a cup base's 199.62 buy point.
Microsoft shares inched higher Monday, ending a two-day losing streak. Shares are barely extended above a flat base's 430.82 buy point and pulling back from new highs.
Be sure to follow Scott Lehtonen on X/Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones Industrial Average.
