Dow Jones Futures: Nvidia CEO’s speech in focus; Google, Tesla surge before Fed meeting

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Dow Jones futures were little changed, along with S&P 500 futures and Nasdaq 100 futures before the stock market opened Tuesday. NVIDIA (NVDA) was in focus in extended trading, while Magnificent Seven stock Alphabet (Google) and Tesla (TSLA) rose sharply ahead of the Federal Reserve’s two-day meeting.


Late Monday, Nvidia stock fell nearly 1% as Chief Executive Jensen Huang delivered the keynote address at the company’s annual GTC conference for artificial intelligence developers in San Jose, Calif. The four-day show is being called “AI Woodstock.” Nvidia is an IBD Leaderboard stock.

After the market closes, stoneco (STNE) was a major earnings driver. Stoneco shares fell more than 10% in extended trading.

This week, major earnings reports include KB Home (KBH), micron technology (mu) and Nike (NKE). Ollie’s Bargain Outlet (OLLI), lululemon athletica (LULU) and down five (five) will also report.

The center of economic headlines this week is the Federal Reserve’s two-day policy meeting, at which a decision on interest rates will be taken on Wednesday.

Fed Chairman Jerome Powell may signal that a rate cut may be planned in the near term, which would come as a surprise to those in the no-deal camp, or those who expect higher inflation. Will keep it as it is. , Yet the Fed’s projections could project a lower rate cut in both 2024 and 2025 than in December, surprising soft-landing forecasters.

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Stock Market Today: Google, Tesla rally

The Dow Jones Industrial Average rose 0.2% and the S&P 500 rose 0.6% on Monday. The tech-heavy Nasdaq Composite advanced 0.8%.

Among the Magnificent Seven stocks, Tesla stock was the biggest winner, up 6.3% and Google parent Alphabet rose 4.6% on a report that it is planning a deal with Apple to license its “Gemini” artificial intelligence training model for use in iPhones. Conversing with.

Finally, the Dow Jones technical symbol Apple (AAPL) and Microsoft (MSFT) traded higher on the stock market today, with Apple stock and Microsoft up 0.6% and 0.2%, respectively.

Arista Networks (a net), Duolingo (Duol), dexcom (DXCM) and xp (XP) – plus Dow Jones components disney (DIS), IBM (IBM) and Procter & Gamble (PG) – are one of the best stocks to buy and watch in the stock market today.

Arista and Disney were featured in this Stocks Near a Buy Zone column.

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Dow Jones Today: Oil Prices, Treasury Yields

Before Tuesday’s opening bell, Dow Jones futures, S&P 500 futures and tech-heavy Nasdaq 100 futures were little changed compared to fair value. Remember that overnight action on Dow Jones futures and elsewhere does not translate into actual trading in the next regular stock market session.

The 10-year US Treasury yield rose to 4.34% on Monday. Meanwhile, oil prices continued to rise on Monday, as West Texas Intermediate futures closed above $82 a barrel.

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Stock market boom: what to do now?

Now is an important time to read IBD’s The Big Picture column, with the stock market outlook in a definite uptrend. Following Monday’s action, be sure to check back today’s The Big Picture for updated exposure levels.

An essential resource for daily breakouts is IBD MarketSurge’s “Breaking Out Today” list. It shows MarketSurge Growth 250 stocks that are surpassing new buy points. There was no breakout on Monday.

Meanwhile, the MarketSurge “Near Pivot” list shows stocks nearing buy points on bases like Arista Networks.

To find more stock ideas, check out IBD stock lists like the IBD 50, Big Cap 20 and Stocks Near a Buy Zone. These features identify bullish patterns and buy points and are available to check every day.

Dow Jones: Disney, IBM, P&G

According to IBD MarketSurge chart analysis, Disney is surpassing the 112.92 buy point of a larger cup-with-handle base. And shares closed above their entry on Monday, up 1.7%.

IBM stock remains below a flat base’s 196.90 buy point, up 0.3% on Monday.

Consumer products giant Procter & Gamble declined on Monday, still above a 158.38 buy point in a cup base.

4 Top Growth Stocks Worth Watching stock market rally

Arista stock near breakout

Arista shares rose 4.2% on Monday to near a 292.66 flat-base buy point, according to MarketSurge charts. They are only 2% away from their latest buy trigger.

IPO leader Duolingo is getting closer to a cup-with-handle entry of 241.86, but is about 10% off the buy point.

Dexcom shares rose 3.3% on Monday to enter $132.03 in a flat base.

Finally, Brazil-based XP declined 0.6% on Monday, staying above support at the 50-day line. Shares are making a cup with handle which displays the 27.03 entry.

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Best bets on the stock market today

These are four of the best stocks to watch in today’s stock market, including a Dow Jones leader.

company Sign correct purchase point type of purchase point
Novo Nordisk (NVO) 105.69 flat base
merck (mrk) 119.65 cup base
draftkings (DKNG) 39.35 cup base
spotify (place) 202.88 flat base
Source: IBD data as of March 4, 2024

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Magnificent Seven Stocks: Tesla

Among Magnificent Seven stocks, Tesla stock rose more than 6% on Monday, bouncing back from last week’s lows.

Shares are well below their 50- and 200-day ranges and more than 40% away from their 52-week highs.

Dow Jones Leaders: Apple, Microsoft

Among Dow Jones stocks in the Magnificent Seven, Apple and Microsoft traded higher during Monday’s stock market action.

Apple stock rose 0.6% on Monday, its highest level since March 4. Shares remain well below their long-term 200-day line.

Microsoft shares found support at the 50-day line, allowing them to hit new highs last week. This put the software giant in a new buying zone.

Be sure to follow Scott Lehtonen on Twitter @IBD_SLehtonen For more information on Growth Stocks and the Dow Jones Industrial Average.

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