Dow Jones futures, S&P 500 futures and Nasdaq 100 futures fell ahead of the stock market’s opening on Tuesday.leader in artificial intelligence Nvidia (NVDA) and super microcomputer (SMCI) Magnificent Seven stock soars to new highs on Monday, while apple (AAPL), Google parent company alphabet (Google) and tesla (TSLA) sold rapidly.
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Supermicro limited its gains to 18% after surging as much as 28% on Monday. deckers outdoor (deck) rose 2.6% after the S&P Dow Jones Indices announced it would add the stocks of both companies to the S&P 500 index. swirl (WHR) and Zions Bancorp (zion).
As of late Monday, the main factors driving the earnings were: aviation environment (AVAV) and GitLab (GTLB). AeroVironment stock soared 17% in extended trading, while GitLab plunged 10%.
Even further away, cloud strike (CRWD), broadcom (AVGO), Mongo DB (MDB) and samsara (IoT) Will report later this week.
Check out IBD’s new exposure levels to stay abreast of market trends.
Stock Market Today: Tesla’s Plunge
On Monday, the Dow Jones Industrial Average fell 0.25% and the S&P 500 fell 0.1%. The tech-heavy Nasdaq Composite fell 0.4%.
Tesla stock was the biggest decliner among the Magnificent Seven stocks, dropping 7.2%. And Google stock fell 2.8%, falling further below its 50-day line.
Finally, Dow Jones’ tech icon Apple and microsoft (MSFT) Stock prices fell on the stock market today, with Apple shares down 2.5% and Microsoft shares down 0.1%.
Duolingo (Duor), fortinet (FTNT) and weatherford (WFRD) — plus Dow Jones component disney (DIS), IBM (IBM) and procter and gamble (P.G.) — one of the best stocks to buy and watch in the stock market today.
IBM and Duolingo were featured in this “Stocks Near a Buy Zone” column.
Dow Jones Today: Oil Prices, Treasury Yields
Ahead of Tuesday’s opening bell, Dow Jones futures were down 0.1% and S&P 500 futures were down 0.15% to fair value. Nasdaq 100 futures fell 0.2% to fair value. Note that overnight movements in Dow Jones futures or elsewhere do not necessarily translate into actual trades in the next regular stock market.
On Monday, the 10-year Treasury yield rose to 4.21%. Meanwhile, West Texas Intermediate futures prices have settled below $79 a barrel, and oil prices continue to hover near recent highs.
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Stock market rise: what to do now
Now is an important time to read IBD’s The Big Picture column, as the outlook for the stock market confirms an uptrend. Be sure to check out The Big Picture today for the latest exposure levels following Monday’s action.
A great resource for daily breakouts is IBD MarketSurge’s Breakouts of the Day list. This indicates that the MarketSurge Growth 250 stocks are breaking through a new buy point. There was one breakout on Monday. rollins (roll) broke over a cup-with-handle entry of 44.43.
Meanwhile, MarketSurge’s “Near Pivot” list shows stocks that are nearing buy points on a base like Samsara. The stock is approaching a cup-with-handle entry of 36.78.
To find more stock ideas, check out IBD stock lists like: IBD50, big cap 20 and stocks near buy zones. These features identify bullish patterns and allow you to purchase points and check them daily.
Dow Jones: Disney, IBM, P&G
According to IBD Market Surge chart analysis, Disney is breaking through the 112.92 buy point, which is the large threshold for cups with handles. The stock rose 1.6% on Monday.
IBM stock is rapidly approaching a flat-based buy point of 196.90 and was up 2.6% on Monday.
Consumer goods giant Procter & Gamble rose 0.5% Monday, above a cup-based buy point of 158.38.
3 top growth stocks to watch stock market rise
Duolingo Eyes purchase points
IPO leader Duolingo is building on the right side of the cup base with a buy point of 245.87. The stock fell 5% on Monday.
Cybersecurity leader Fortinet adds a handle to its long cup base and has a buy point of 73.91. Fortinet stock rose 2.35% on Monday.
Oil stock Weatherford fell 3.2% on Monday after returning to buy range above its cup-based buy point of 102.65. The top of the 5% buy range is 107.78.
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Best bets on the stock market today
These are the four best stocks to watch in the stock market today, including the Dow Jones leader.
| company | symbol | correct purchase point | Types of purchase points |
|---|---|---|---|
| novo nordisk | (NVO) | 105.69 | flat base |
| Merck | (M.R.K.) | 119.65 | cup base |
| draft kings | (DKNG) | 39.35 | cup base |
| spotify | (spot) | 202.88 | flat base |
Source: IBD data as of March 4, 2024
IBD experts break down the top stocks in the current stock market rally on IBD Live.
Magnificent Seven stocks: Nvidia, Tesla
Among Magnificent Seven stocks, Nvidia limited gains to 3.6%, while Tesla shares fell 7.2% on Monday.
Nvidia stock hit yet another all-time high on Monday. After the January 8th breakout, it closed nearly 70% above the 505.48 buy point on a flat basis.
Tesla stock closed at its lowest since February 13th. The stock price remains well below its 50-day and 200-day lines.
Dow Jones Leader: Apple, Microsoft
Among the Dow Jones stocks in the Magnificent Seven on Monday, Apple and Microsoft fell.
Apple fell further below its 200-day line and closed at its lowest price since November 1st.
Despite falling slightly on Monday, Microsoft stock remains out of buy range on a flat basis, above the 384.30 buy point.
Follow Scott Lehtonen on X/Twitter. @IBD_SLehtonen Learn more about growth stocks and the Dow Jones Industrial Average.
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