Stocks climbed, with the Dow Jones Industrial Average lagging the Nasdaq and the S&P 500 in the middle of the two other major indexes. Showing dominance once again were Palantir Technologies and Nvidia, both of which sharply higher on the stock market today.
Also acting strongly were steel stocks, which surged more than 5% as a group. Steel producers bolted higher after President Donald Trump said on Sunday he planned to impose 25% tariffs on steel and aluminum imports, starting Monday.
The Dow Jones notched a gain of 0.4%, led by McDonald's. The fast-food giant lurched nearly 5% higher despite missing views on fourth-quarter profit and sales. But its same-store sales came in higher than estimates. McDonald's stock hit an early entry at 297.15.
Shares also remain in a flat base with a 317.90 buy point, according to MarketSurge pattern recognition. McDonald's stock is on track for its largest increase since April 22, 2020, when it rose 5.01%, according to Dow Jones Market Data.
Nvidia was also a big winner on the 30-stock index, surging nearly 3% as it finds resistance at its 50-day moving average.
Also, IBD SwingTrader name Palantir Technologies jumped more than 5% and surpassed Friday's record intraday high. The IBD 50 component is extended after rebounding off its 10-week moving average last week.
S&P 500 Rises, Nasdaq Leads; These Steel Stocks Forge Gains
The S&P 500 climbed 0.7% and held above its 50-day line. Meanwhile, the Nasdaq composite advanced 1% and reclaimed its 50-day line. And small caps improved, with the Russell 2000 advancing 0.4% but still holding below its 50-day line.
Volume was higher on the Nasdaq and lower on the New York Stock Exchange vs. the same time Friday. On the Nasdaq exchange, rising stocks topped falling issues by roughly 5-to-4, while on the NYSE, gainers beat losers around 3-to-2.
The 10-year Treasury yield edged higher to 4.5%. Bitcoin rose 1% to just above the $97,300 level. And crude oil climbed 2.1% to around $72.46 a barrel.
In other stocks, Steel Dynamics spiked nearly 5% in heavy trading on the steel tariff news. The stock reclaimed its 200-day line on the stock market today.
Among other steelmakers, U.S. Steel also jumped nearly 5% while Nucor rose 5.6%.
Stock Market Today: Pet Food Stock Tumbles
Freshpet skidded more than 11% in heavy volume, completing a seven-day losing streak. The fresh pet food maker fell further below its 50-day line and knifed through its 200-day moving average, triggering a sell signal. Shares broke out of a cup base in late January but the breakout faded quickly. Its relative strength line also took a sharp downturn early this month.
Meta Platforms crept up 0.4% and is on pace for its 16th consecutive day of gains. Shares are extended from a 638.40 flat base buy point.
2:58 p.m. ET
Uber Drives Higher Once Again
Shopify gained more than 2%. The online commerce platform's earnings report is due Tuesday before the market open.
Incyte sold off in heavy trading and sank below its 50-day line triggering a sell signal. The cancer treatment developer missed fourth-quarter earnings forecasts.
Uber Technologies spiked more than 5% Monday. On Friday, influential hedge fund manager Bill Ackman said he built up a position of 30.3 million shares in Uber in one of his funds. Uber reported fourth-quarter earnings results Wednesday. Shares are building the right side of a cup base with an 87 buy point.
Coconut water product maker Vita Coco hoisted higher. It's now back in a buy zone with a 37.88 entry out of a flat base.
LandBridge powered up and retook its 50-day line on the stock market today. Shares are trying to recover from a steep sell-off in late January. Shares gave back a 28% gain from the January high and flashed a 7% sell signal from a 77.37 buy point.
1:33 p.m. ET
Tesla Falls, Rockwell Soars
On the losing end, Tesla sank and looks to be on pace for a four-day losing streak.
Rockwell Automation soared more than 12% after the company beat on fiscal first-quarter profit estimates. Shares are nearing the 304.29 buy point of a flat base. The stock retook its 50-day line Monday.
Byrna Technologies bolted higher, adding to Friday's 7.8% gain. The maker of nonlethal weapons beat fiscal fourth-quarter profit estimates Friday.
Byrna reported a profit of 41 cents a share vs. a loss of four cents in the year-earlier quarter. Sales popped 79%. Shares are extended after bouncing off the 10-week moving average last week. The stock is at a level not seen since 2007.
12:01 p.m. ET
Opera Sings; Gold Name Breaks Out
Among other stocks, Opera shares sung as it jumped more than 5% and reached a 20.70 buy point. It is in the buy zone up to 21.74. Its relative strength line hit a 52-week high as shown by the blue dot on its daily MarketSurge chart. Opera offers web browsers, gaming products and e-commerce options.
Harmony Gold Mining jumped nearly 3% and broke out of a cup base with a 12.29 entry. Shares are in the buy range up to 12.90. Gold futures reached a new high Monday morning at $2,934.10 an ounce.
Descartes Systems Group powered up more than 2% and broke out of a cup-with-handle base with a 120.78 buy point. The buy zone stretches to 126.82. The RS line is also making new highs.
Semtech crashed in huge volume and is on pace for three straight days of sharp losses. On Thursday, the chip and connectivity provider said it would miss its fiscal 2026 sales estimates. Semtech triggered a sell signal after slicing through its 50-day line Friday. And Monday, it gapped below the 200-day line.
10:42 a.m. ET
Stock Market Today: Monday.com Surges
Monday.com catapulted higher in heavy volume, after the company beat fourth-quarter adjusted earnings and sales estimates. The software company also gave first-quarter and full-year 2025 revenue outlook that topped views. The stock was back near a level not seen since December 2021. Shares climbed above resistance around 300 and a buy point at 324.99.
Axsome Therapeutics soared in hefty volume, after the drugmaker entered into a legal settlement with Teva Pharmaceuticals. Drugmaker Teva was seeking U.S. Food and Drug Administration approval of its generic version of Axsome's depression symptom drug Auvelity.
Axsome is extended from a buy zone above a 105 buy point. Shares hit a record high on the stock market today. Meanwhile, Teva stock inched lower and remains below its 200-day moving average.
Stocks To Buy And Watch: Top IPOs, Big And Small Caps, Growth Stocks
On Semiconductor tumbled following its miss on fourth-quarter profit and sales forecasts. The chipmaker's earnings have dropped for eight straight quarters, with another decline expected for the current quarter. On stock has underperformed, as seen in its dismal 9 out of a possible 99 in its IBD Relative Strength Rating.
Hims & Hers Health advanced even after criticism that its Super Bowl ad for the company's generic weight-loss drug lacked proper warnings. The stock is in the profit zone of a cup base with a 35.02 buy point.
Follow Kimberley Koenig for more stock market news on X/Twitter @IBD_KKoenig.
