Dow Jones futures and other major indexes risk widening losses. Nvidia (NVDA) continued to fall on the stock market today. Meanwhile, Bitcoin has soared to an all-time high.
X
In Monday morning trading, Dow Jones futures were down 0.5% relative to fair value, and S&P 500 futures were down as well. Futures on the tech-heavy Nasdaq 100 fell 0.7% before the opening bell.
Among U.S. exchange-traded funds, the Nasdaq 100 tracker Invesco QQQ Trust ETF (QQQ) fell 0.7%, while the SPDR S&P 500 ETF (spy) decreased by 0.5%.
The 10-year US Treasury yield fell to 4.07%. Additionally, oil prices added to Friday’s decline as West Texas Intermediate futures fell 0.5% to trade around $77.60 a barrel.
Artificial intelligence giant Nvidia fell 1.5% on Monday morning, threatening to add to Friday’s 5.6% decline. However, NVIDIA stock still beats his 505.48 entry on a flat basis by more than 80%, making it an IBD Leaderboard stock.
Bitcoin price rose 2.6% on Monday morning to a new record high, trading above $71,400.virtual currency stocks coinbase (coin) rose another 6.3% in pre-market trading, well above the 193.64 buy point.
Be sure to read how to adapt to changing market conditions with IBD’s new exposure levels.
stock market today
This week, the focus will be on the Consumer Price Index, which will be released by the US Department of Labor on Tuesday. CPI rose 0.4% month-on-month and is expected to rise 3.1%. Wall Street expects core prices to rise 0.3% in February, up 3.7% from a year earlier.
Additionally, U.S. retail sales figures are scheduled to be released on Thursday, a key indicator of consumer sentiment.
This week’s key earnings reports include: adobe (adobe), oracle (ORCL) and Jabiru (JBL).
Dow Jones Falls
On Friday, the Dow Jones Industrial Average fell 0.2% and the S&P 500 index fell 0.7%. The tech-heavy Nasdaq Composite Index fell 1.2%.
Friday’s Big Picture column says, “Most S&P 500 sectors ended in the red on Friday. Defensive utilities and real estate sectors, as well as the energy sector, rose on the day. In contrast, technology and consumer It was a tough trade in the sector.”
As the stock market continues to rise, now is an important time to read IBD’s The Big Picture column. Be sure to read how to adapt to changing market conditions with IBD’s new exposure levels.
Learn how to time the stock market with IBD’s ETF Market Strategy
Best stocks to buy and watch on the stock market today
Duolingo (Duor), fifth third bancorp (FITB), 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.
Essential resources for daily breakouts include: IBD Market Surge “Today’s Breakout” list.it shows Rapid market growth 250 Stocks that are breaking through new buy points. There were three breakouts on Friday. samsara (IoT). On Friday, Samsara stock soared above the buy point of 36.91. The stock fell 0.6% on Monday.
Meanwhile, MarketSurge’s “Near Pivot” list shows stocks that are nearing buy points on the basis of: DR Horton (DHI), approaching an entry of 157.93 cups. The stock fell 0.7% on Monday.
Get real-time buy and sell alerts on stock market leaders with IBD Leaderboard
Dow Jones Stocks: Disney Attempts to Breakout
According to IBD MarketSurge’s chart analysis, Disney is about to break through the 112.92 buy point, which is the large threshold for cups with handles. Disney stock rose 0.3% on the stock market that day.
IBM stock is also trying to break above its flat-based buy point of 196.90, but it was down 0.3% on Friday. IBM stock fell 0.2% on Monday.
Consumer goods giant Procter & Gamble fell 0.2% Friday, above a cup-based buy point of 158.38. P&G stock rose 0.7% on Monday.
3 top growth stocks to watch stock market rise
Square Eyes purchase points
IPO leader Duolingo added a handle to its cup base, bringing the buy point to 241.86. Duolingo stock rose 1.4% on Monday.
Fifth Third Bancorp edged lower on Friday, but remains above its buy point of 35.73. Stocks fell slightly on Monday.
Cybersecurity leader Fortinet adds a handle to its long cup base and has a buy point of 73.91. Stocks were flat on Monday.
The square parent block adds a tall handle to the cup base and has a correct purchase point of 83.29. A brief breakout above the 80.29 entry last week failed, and the stock fell 7% from the buying trigger. Square stock rose 0.6% on Monday.
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 Name | 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 February 28, 2024
IBD experts break down the top stocks in the current stock market rally on IBD Live.
Magnificent Seven Stock: Tesla
Among the Magnificent Seven brands, tesla (TSLA) rose 0.3% in premarket trading.
Tesla stock fell 1.9% on Friday, staying near recent lows. The stock remains well below its 50-day and 200-day moving averages.
Dow Jones Leader: Apple, Microsoft
Among the Dow Jones stocks in the Magnificent Seven are: apple (AAPL) and microsoft (MSFT) Stocks traded mixed ahead of Monday’s opening.
Apple stock rose 1% on Friday, ending a seven-day losing streak. The stock price remains well below its long-term 200-day line. The stock was up 0.3% on Monday morning.
Microsoft stock has been trying to find support at its 50-day line in recent trading, making it an important area to watch. The software giant fell 0.6% on the stock market today.
Be sure to follow Scott Lehtonen on X, formerly known as Twitter. @IBD_SLehtonen Learn more about growth stocks, the Dow Jones Industrial Average, and today’s stock market.
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