Dow Jones futures, S&P 500 futures and Nasdaq 100 futures were little changed ahead of Tuesday’s stock market open. Meanwhile, the Fed’s two-day policy meeting is looming on Wall Street this week.
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late monday, lattice semiconductor (LSCC), micro strategy (MSTR) and NXP Semiconductor (NXPI) has reported its financial results.
Lattice stock fell nearly 4% after the market closed, and Bitcoin leader MicroStrategy fell 4% after plunging as much as 8%. NXP stock also rose 4.2% in extended trading.
While all eyes are sure to be on the Fed’s policy meeting starting Tuesday, there are also a number of important economic reports that investors should keep an eye on.
The latest consumer confidence index will be released on Tuesday, and the ADP jobs report will be released on Wednesday. But the key report will be the April jobs report, which will be released on Friday. Analysts expect the U.S. economy to add 250,000 new jobs, down from last month. Analysts expect the unemployment rate to remain stable at 3.8%.
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stock market today
On Monday, the Dow Jones Industrial Average rose 0.4% and the S&P 500 rose 0.3%. The Nasdaq Composite Index, which has a high proportion of high-tech stocks, rose 0.4%.
Among the Magnificent Seven brands, tesla (TSLA) was a big winner, rising over 15%. Stock prices have returned to their 50-day line for the first time since early January.
and Dow Jones tech icons apple (AAPL) and microsoft (MSFT) The stock market ended mixed today, with Apple up 2.5% and Microsoft down 1%.
Chipotle Mexican Grill (CMG), texas roadhouse (TXRH) and trade web market (TW) — plus Dow Jones components American express (AXP) — One of the most interesting companies on the stock market today.
Texas Roadhouse is featured in this “Stocks Near a Buy Zone” column.
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Dow Jones Today: Oil Prices, Treasury Yields
Ahead of Tuesday’s opening bell, Dow Jones futures and S&P 500 futures were down less than 0.1% to their fair value, while tech-heavy Nasdaq 100 futures edged higher. 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 fell to 4.6%. And oil prices fell, with West Texas Intermediate futures prices settling at around $82.70 per barrel.
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Stock market today: what to do now
With the recent stock market rally, now is an important time to read IBD’s The Big Picture column. Be sure to check out The Big Picture today for the latest exposure levels following Monday’s action.
Monday’s IBD Live Show began with an assessment of trading conditions following Friday’s significant rally. Mike Webster said Nasdaq volume was down slightly compared to Thursday, but Friday had the feel of a follow-through day. So with the Fed and a lot of news coming out this week, we need to be bullish, he said. Friday’s low is the key.
An essential 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. especially, career global (CARR) broke through the 60.87 buy point on a flat basis. Meanwhile, MarketSurge’s “Near Pivot” list shows stocks that are nearing buy points on base.
To find more stock ideas, check out our IBD stock lists, including the IBD 50, 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: American Express
According to MarketSurge charts, American Express has rebounded massively from support near its 50-day moving average. The rebound places software leaders in new buying territory. Please keep in mind that market risks are currently elevated. The stock is also rising above the 231.69 entry in a short-term consolidation.
3 top growth stocks to watch stock market correction
Outside of the Dow Jones index, Chipotle rose an additional 0.7% on Monday to end further above its short-term consolidated buy point of 3,023.98, according to IBD MarketSurge.
Texas Roadhouse is sitting just above a flat-based buy point of 157.12. The stock rose 1.1% on Monday.
Tradeweb is building a flat base with a buy point of 108.04. However, the stock continues to struggle below its 50-day line. Look for it to decisively regain that level to indicate that a potential breakout is just around the corner.
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Up-and-coming stock
These are four stocks in the buy zone or near the buy zone on the stock market today.
| Company Name | symbol | correct purchase point | Types of purchase points |
|---|---|---|---|
| american express | (AXP) | 231.69 | integration |
| chipotle pepper | (CMG) | 3,023.98 | integration |
| texas roadhouse | (TXRH) | 157.12 | flat base |
| trade web market | (TW) | 108.04 | flat base |
Source: IBD data as of April 29, 2024
IBD experts break down the top names in current stock market movements on IBD Live.
Magnificent Seven Stock: Nvidia
Among the Magnificent Seven stocks, Nvidia stock inched up Monday’s gains and moved further above its 50-day line after Friday’s bullish move. Nvidia stock is building a consolidation with 974 buy points.
The AI giant is an IBD Leaderboard stock.
Dow Jones Leader: Apple, Microsoft
Among the Magnificent Seven Dow Jones stocks, Apple and Microsoft traded mixed in stock market trading on Monday.
Apple shares rose 2.5% on Monday after Bernstein upgraded the stock to outperform from market perform. Stock prices have returned to their 50-day line for the first time since late January.
Microsoft stock fell 1% on Monday, but remained below its 50-day line. The software giant is building a new flat base with a buy point of 430.82.
Follow Scott Lehtonen on X/Twitter. @IBD_SLehtonen Learn more about growth stocks and the Dow Jones Industrial Average.
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