Dow Jones futures fell ahead of the stock market open on Tuesday, along with S&P 500 futures and Nasdaq 100 futures. The Federal Reserve’s policy meeting gets underway on Tuesday, followed by big earnings reports from the Magnificent Seven companies. apple (AAPL), Amazon (Amazon), Meta Platform (Meta) and Microsoft (MSFT) is due to be released later this week.
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As tech stocks sell off, these 7 great stocks are due to report earnings
The main factors behind the profit fluctuations in the second half of Monday were: Lattice Semiconductor (LSCC) and Sprouts Farmers Market (SFMLattice shares fell more than 9% in after-hours trading, while Sprouts shares rose nearly 9%.
The biggest news this week is the two-day Federal Reserve meeting that begins on Tuesday, with a policy announcement scheduled for Wednesday. Markets are pricing in just a 4.7% chance of a rate cut on Wednesday. CME Group’s FedWatch Tool.
Meanwhile, markets are fully pricing in a quarter-point rate cut from the Fed at its next meeting in September, with up to three rate cuts expected this year.
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Stock Market Today
On Monday, the Dow Jones Industrial Average fell 0.1%, while the S&P 500 rose 0.1%. The tech-heavy Nasdaq Composite Index was up slightly.
Companies to watch in the stock market today include: Badger Meter (BMI), GE Aerospace (GE), Service Now (now) and Toll Brothers (Tor).
The list also includes Amazon, a component of the Dow Jones. American Express (AXP), apple, IBM (IBM) and Microsoft.
This “Stocks Near the Buy Zone” column features IBM and Toll Brothers.
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Dow Jones Today: Oil Prices, Treasury Yields
Ahead of the open of trading on Tuesday, Dow Jones futures were down 0.2% relative to fair value, as were S&P 500 futures. Futures for the tech-heavy Nasdaq 100 were down 0.3% relative to fair value. Keep in mind that overnight movements in Dow Jones futures and other futures don’t necessarily translate into actual trading in the next regular stock market session.
The yield on the 10-year U.S. Treasury note fell to 4.17% on Monday. Oil prices also fell, with West Texas Intermediate crude oil futures closing around $75.90 a barrel.
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What to do now
As stock market action continues, now is an important time to read IBD’s The Big Picture column, so be sure to check out today’s The Big Picture and today’s exposure levels following Monday’s session.
Monday IBD Live ShowThe IBD Live team discussed the current trading situation.
Essential resources for your daily breakout IBD MarketSurge “Breakout of the Day” list. Market Surge Growth 250 Stocks that have broken through their buy points. Of particular note on this list are: Land Bridge (lb) briefly surpassed a buy point of 32.91 on an IPO basis on the stock market today, while MarketSurge’s “Near Pivot” list shows more stocks approaching a buy point on an IPO basis.
To find more stock ideas, check out the IBD Stock List. IBD50, Big Cap 20 and stocks near buy zones. These features identify bullish patterns and buy points and can be confirmed daily.
Alarm bells are ringing for Nvidia, Google, Meta and others
Dow Jones Index: American Express, IBM
Among Dow Jones Industrial Average components, payments giant American Express is in buy range above a flat-based 244.41 entry. MarketSurge Pattern RecognitionMeanwhile, IBM has surged following the company’s earnings report last week, with shares now above the Cup with Handle entry of 189.47.
Outside of the Dow Jones indexes, the Badger Meter is breaking out above a 202.81 entry from a flat base. GE shares recently broke out above a 170.80 buy point and are still under pressure, but the stock is rebounding.
ServiceNow Inc. surged last week after reporting second-quarter earnings, topping a trading volume of 806.52, but gave up that volume on Monday. Finally, homebuilder Toll Brothers rose 5.1% on Monday, topping a trading volume of 135.37.
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Stock Market Today: Companies to Watch
These are four stocks that are in or near the buy zone on the stock market today.
| Company Name | symbol | The right purchase point | Types of purchase points |
|---|---|---|---|
| Service Now | (now) | 806.52 | Handle Entry |
| KB Home | (KBH) | 74.66 | Flat Base |
| Toll Brothers | (Tor) | 135.37 | Cup Base |
| GE Aerospace | (GE) | 170.80 | Flat Base |
Source: IBD data as of July 29th
7 Great Stocks: NVIDIA and Tesla
Among the Magnificent Seven brands, NVIDIA (NVDA) and Tesla (TSLA) ended on a very chaotic note on Monday.
Tesla shares rose 5.6% on Monday, clawing back some of last week’s steep losses.
Nvidia shares, an IBD Leaderboard stock, fell 1.3% on Monday, dropping further below its 50-day line. The stock remains well above a split-adjusted alternative buy point of 97.40.
Dow Jones Leaders: Amazon, Apple, Microsoft
Among the Dow Jones Magnificent Seven stocks, Amazon is trading sideways after last week’s decline and is firmly below a 191.70 buy point.
Apple shares rose slightly on Monday but are still far from recent highs, with the stock trading above a cup base buy point at 199.62.
Microsoft shares rose 0.3% on Monday but are still trading below their 50-day moving average and a flat-base buy point of 430.82.
Follow Scott Lehtonen on X/Twitter translator For more information on growth stocks and the Dow Jones Industrial Average, click here.
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