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Dow Jones futures, along with S&P 500 futures and Nasdaq 100 futures, were little changed ahead of Tuesday’s stock market open. Beautiful Seven stock Nvidia (NVDA) has risen sharply, but the stock market’s attempted rally is still missing one key factor.
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This way you determine what you should buy on the next day
Former President Donald Trump would have a conversation with him Tesla (TSLA) CEO Elon Musk on Musk’s X Platform, starting Monday evening at 8 PM ET. However, there were technical issues in the X Space and users experienced problems logging into the Space before they were resolved.
Musk posted on X“There appears to be a massive DDOS attack on 𝕏. We are working to shut it down. Worst case scenario, we will continue with a smaller number of live listeners and post the conversation later.”
Early Monday, Trump started posted again on
Tesla shares fell 1.3% on Monday Trumpmedia (DJT) fell by more than 5%.
Meanwhile, this week’s key economic data includes two critical inflation gauges: Tuesday’s Producer Price Index and Wednesday’s Consumer Price Index. Furthermore, US retail sales figures for July will be released on Thursday. There are signs that consumer purchasing is weakening, so the retail report could provide more insight.
Hammer selling attack, Nvidia stock and more. But rays of hope appear.
Fair today
On Monday, the Dow Jones Industrial Average fell 0.4%, while the S&P 500 finished virtually unchanged. The technology indicator Nasdaq rose 0.2%.
Some of the best companies to watch in the stock market today include Cava (CAVA), Ferrari (RACE), ServiceNow (NOW) And Shake Shack (SHAKE).
Also on the list are Dow Jones components Amazon (AMZN), Apple (AAPL), IBM (IBM), Microsoft (MSFT) And United Health (UNH).
IBM and Shake Shack are listed in this Stocks Near a Buy Zone column.
Find the best stocks to buy and watch with IBD Stock Screener and IBD Screen of the Day
Dow Jones today: oil prices, government bond yields
Ahead of Tuesday’s opening bell, Dow Jones futures, along with S&P 500 futures and tech-heavy Nasdaq 100 futures, were little changed from fair value. Remember that overnight action in Dow Jones futures and elsewhere does not necessarily translate into actual trading during the next regular stock market session.
On Monday, the yield on ten-year US government bonds fell to 3.9%. And oil prices extended their recent gains, with West Texas intermediate futures settling around $79.60 a barrel.
What to do now
The stock market still hasn’t confirmed its rally attempt with a follow-up day. That could happen any time now. Keep in mind that not all confirmed rallies are successful, so gradually increase your exposure as the market improves.
Investors should still be largely in cash, awaiting a follow-up day. For now, focus on building watchlists. Have a list of stocks showing promising action while focusing on a smaller list of potential top targets.
This is an important time to read IBD’s The Big Picture column amid the ongoing stock market action. After Monday’s session, be sure to check out today’s The Big Picture and today’s updated exposure level.
On Monday the “IBD Live” showthe team discussed current trading conditions amid the recent stock market rally.
An essential resource for everyday breakouts is IBD MarketSurges “Breaking Out Today” list. It shows MarketSurge Growth 250 stocks breaking past buy points. Meanwhile, the MarketSurge “Near Pivot” list shows more stocks near buy points.
For more stock ideas, check out IBD stock lists such as IBD50, Large hood 20 and stocks near a buy zone. These features identify bullish patterns and buy points and can be checked every day.
Wake-up calls are still ringing for Nvidia, Google, Meta and more
Dow Jones: IBM, UnitedHealth
Among Dow Jones components, UnitedHealth is in a buy range above a 554.70 buy point in a cup basis, according to MarketSurge Pattern Recognition. And IBM is closing in on its latest entry, a buy point for a cup with handle at 196.26.
Outside the Dow Jones index, Mediterranean restaurant Cava bullishly regained its 50-day line last week. That presents a buying opportunity for more aggressive investors. Stocks build the right side of a new base.
Shares of automaker Ferrari tried to find support around their 50-day line, remaining about 5% away from a 442.80 buy point on a flat basis.
ServiceNow is just above an 806.52 handle entry, as it will no longer have support after the 50-day limit. Finally, Shake Shack added a handle to a cup base, bringing the new entry to 105.68.
Learn how to time the market with IBD’s ETF market strategy
Stock market today: companies to watch
These are four stocks in or near buy zones in today’s stock market.
| Company | Symbol | Buy point | Purchase point type |
|---|---|---|---|
| MercadoLibre | (MELI) | 1,792.05 | Cup with handle |
| Shake Shack | (SHAKE) | 111.29 | Cup base |
| ServiceNow | (NOW) | 806.52 | Handle entry |
| Spotify | (PLACE) | 331.08 | Flat base |
Source: IBD data from August 12
Among the Dow Jones stocks in the Magnificent Seven, Amazon, Apple and Microsoft finished mixed on Monday.
Amazon shares fell 0.1%, ending a four-day winning streak. They remain below the long-term limit of 200 days.
On Monday, Apple shares rose 0.6%, extending its winning streak to four sessions and closing further above the 50-day mark.
Microsoft shares rose 0.2% as they tried to recover their 200-day mark.
Make sure you follow Scott Lehtonen on X/Twitter at @IBD_SLehtonen for more information about growth stocks and the Dow Jones Industrial Average.
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