On Monday morning, Dow Jones futures and other major stock indexes rallied, as did Wall Street. Nvidia (NVDA) stock in particular looked to be recovering from last week’s stock market decline. meanwhile, tesla (TSLA) fell on the stock market today after the company lowered the prices of its electric vehicles in the United States, China, and Europe.
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Dow Jones futures rose 0.5% to fair value in morning trading, while S&P 500 futures rose 0.6%. Futures on the tech-heavy Nasdaq 100 rose 0.7% before the opening bell.
Early Monday morning, the 10-year U.S. Treasury yield rose to 4.66%. Oil prices also fell, with West Texas Intermediate futures trading around $82.70 a barrel.
Among U.S. exchange-traded funds, the Nasdaq 100 tracker Invesco QQQ Trust ETF (QQQ) rose 0.7%, and the SPDR S&P 500 ETF (SPY) rose 0.6%.
Over the weekend, Tesla lowered the prices of its electric vehicles in the U.S., China and Europe, as well as the price of its fully self-driving features. These are the latest shifts in pricing strategy by the struggling EV giant. Tesla shares plunged more than 4.5% in premarket trading, hitting a 52-week low.
On the upside, Nvidia stock rose more than 1%, looking to rebound from Friday’s 10% plunge that triggered a sell rule below its 50-day moving average.
Stock market today: Economic data is scheduled for release
This week’s economic data will feature first-quarter GDP and the Federal Reserve’s main inflation measure, the Personal Consumption Expenditure Price Index. Based on information already reported, upcoming data is unlikely to alleviate the recent spike in interest rates.
GDP statistics released on Thursday will provide a clearer picture. The first official estimate of real GDP predicts growth of 2.1% in the first quarter, down from 3.4% in the fourth quarter.
The Bureau of Economic Analysis reports the core PCE price index along with GDP. Personal spending and expenditures for March will be released on Friday.
This week’s key earnings reports include: microsoft (MSFT), boeing (BA), tesla (TSLA), meta platform (meta) and alphabet (Google).
Breakout attempt by major telecommunications companies verizon communications (VZ) failed in recent trading, dropping more than 7% below the 43.21 buy point. Verizon stock rebounded Monday, rising more than 2% after the results.
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Dow Jones rises while other indexes fall
On Friday, the Dow Jones Industrial Average rose 0.6%, while the Nasdaq and S&P 500 fell 2.1% and 0.9%, respectively.
The stock market ended the day and week with solid declines on Friday after escalating tensions between Iran and Israel and the financial results. Netflix Selling (NFLX).
As the stock market continues to move, 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
Stocks to watch in today’s stock market
alphabet (Google), On hold (Onon) and trade web market (TW) — Plus Dow Jones Component American express (AXP) and verizon communications (VZ) — One of the most interesting companies on the stock market today.
On Holding is featured in this Stocks Near a Buy Zone column.
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. Additionally, 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.
Get real-time buy and sell alerts on stock market leaders with IBD Leaderboard
Dow Jones: American Express
Following Friday’s rally, American Express found much-needed support near its 50-day moving average, according to MarketSurge charts. This recovery presents payment leaders with new purchasing opportunities. However, the risks are high due to market weakness. The stock rose another 0.6% on Monday.
4 Top Growth Stocks to Watch stock market correction
Outside of the Dow, Google stock remains just above its buy point of 153.78, despite falling 1.2% on Friday. According to MarketSurge charts, its relative strength line is at its highest level since January. The stock rose 0.2% on Monday.
Retail giant On Holding abandoned its 50-day line on Friday, but a decisive rebound back to that level would be bullish for the stock’s outlook. On Holding shares rose 0.3% early Monday.
Tradeweb has formed a flat base at a buy point of 108.04 and is below its 50-day moving average. Stock prices fell slightly on Monday.
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Up-and-coming stocks
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 |
|---|---|---|---|
| disney | (DIS) | 112.92 | cup with handle |
| broadcom | (AVGO) | 1,438.17 | integration |
| draft kings | (DKNG) | 45.62 | integration |
| ServiceNow | (now) | 815.32 | flat base |
Source: IBD data as of April 15, 2024
IBD experts analyze the top stocks in the current stock market correction on IBD Live.
Dow Jones Leader: Apple, Microsoft
Among the Dow Jones stocks in the Magnificent Seven are: apple (AAPL) and microsoft (MSFT) rose ahead of the stock market’s opening on Monday.
Apple shares fell 1.2% on Friday, falling for the fifth straight session. Last week, the stock found strong resistance at the 50-day line. The stock was up 0.6% on Monday morning.
Microsoft stock fell 1.3% on Friday, falling further below its 50-day line. The stock rose 0.2% early Monday.
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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