Dow Jones futures dropped as the stock market slipped in and out of mixed trade Monday, following its strongest week since Nov. 2020. U.S. oil prices jumped above $108 a barrel. After the market close, Nike (NKE) will report its quarterly earnings results.
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Ahead of Monday’s open, Dow Jones stock Boeing (BA) dived more than 6% after a Boeing 737-800 passenger jet crashed in China.
Elsewhere among the Dow Jones stocks, Apple (AAPL) inched lower and Microsoft (MSFT) moved down 0.3% in today’s stock market. UnitedHealth (UNH), a Dow Jones stock to watch, finished Friday in buy range.
Electric-vehicle leader Tesla (TSLA) rallied around 2% early Monday, on pace to add to Friday’s gains.
Amid the volatile, headline-driven market, Costco (COST), GlobalFoundries (GFS), O’Reilly Automotive (ORLY), Regeneron Pharmaceuticals (REGN) and Vertex Pharmaceuticals (VRTX) are among Monday’s top stocks to buy and watch.
Microsoft, Tesla and Vertex are IBD Leaderboard stocks. Costco is an IBD SwingTrader stock. GlobalFoundries is an IPO Leader. O’Reilly was Tuesday’s IBD 50 Stocks To Watch pick.
Dow Jones Today: Treasury Yields, Oil Prices
Ahead of Monday’s market open, Dow Jones futures lost 0.2% vs. fair value and S&P 500 futures gained a fraction. Nasdaq 100 futures wobbled narrowly higher and lower in morning trade. Remember that overnight action in Dow futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.
Among exchange-traded funds, the Nasdaq 100 tracker Invesco QQQ Trust (QQQ) and the SPDR S&P 500 ETF (SPY) were both essentially flat ahead of Monday’s open.
The 10-year U.S. Treasury yield ticked up to 2.18% Monday morning after ending Friday at 2.14%.
U.S. oil prices added to their rebound, jumping more than 4% Monday morning. That put West Texas Intermediate crude above $108 a barrel. Last week, WTI briefly traded below $94 a barrel.
Stock Market Rally
The stock market posted more solid gains Friday, as the tech-heavy Nasdaq extended a win streak to four sessions. Following last week’s big move higher, now is an important time to read and follow IBD’s The Big Picture column.
Friday’s The Big Picture column commented, “But the Nasdaq’s outperformance wasn’t fueled by technology stocks breaking out of bases. Instead, it was mostly beaten-down software stocks and other former leaders from last year rallying off lows after sharp sell-offs. Nonetheless, the Nasdaq composite followed through on the fourth day of its rally attempt, rising 2% in higher volume.”
If you’re new to IBD, consider taking a look at its stock trading system and CAN SLIM basics. Recognizing chart patterns is one key to the investment guidelines. IBD offers a broad range of growth stock lists, such as Leaderboard and SwingTrader.
Investors also can create watchlists, find companies nearing a buy point, or develop custom screens at IBD MarketSmith.
Four Dow Jones Stocks To Watch Now
Dow Jones Stocks To Watch: UnitedHealth
Managed care giant UnitedHealth shows a 500.10 buy point with a handle entry on a double-bottom base. Shares ended Friday in buy range despite a 0.2% loss. UNH shares were flat early Monday.
Bullishly, the stock’s relative strength line is near new highs, indicating significant stock market outperformance.
Four Top Growth Stocks To Watch In The Current Stock Market Rally
Stocks To Buy And Watch: Costco, GlobalFoundries, O’Reilly, Regeneron, Vertex
IBD SwingTrader stock Costco is in buy range past a 545.39 buy point in a cup-with-handle base, according to IBD MarketSmith charts. Costco shares moved slightly higher early Monday.
Last week’s IPO Stock Of The Week, GlobalFoundries, is in buy range past a cup base’s 73.35 buy point following Friday’s 6.8% advance. GlobalFoundries shares fell 0.3% Monday morning.
Tuesday’s IBD 50 Stocks To Watch pick, O’Reilly Automotive, is above a 687.33 buy point in a cup with handle despite Friday’s 1.6% decline. The 5% buy area tops out at 721.70. ORLY shares were flat early Monday.
Regeneron Pharmaceuticals is in buy range past a 673.96 buy point in a flat base amid a eight-day win streak. REGN shares were unchanged Monday. Regeneron is in last week’s New America column.
IBD Leaderboard stock Vertex Pharmaceuticals is tracing a cup base with a 255.03 buy point. Per Leaderboard analysis, Vertex Pharmaceuticals was boosted to a half position from a quarter on a solid bounce off the 50-day line in recent weeks. VRTX shares were flat early Monday.
Join IBD experts as they analyze leading stocks in the current stock market rally on IBD Live
Tesla Stock
Tesla stock traded up around 2% early Monday, looking to add to its four-day win streak. Shares regained their long-term 200-day moving average on Thursday, however volume on the move was weak. Still, the retaking of support could mark the early stages of a possible climb up the right side of a new base. Now, the stock is attempting to decisively retake its 50-day line.
The stock traded as high as 1,243.49 on Nov. 4, but ended Friday about 27% off that all-time high.
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Dow Jones Leaders: Apple, Microsoft
Among Dow Jones stocks, Apple shares advanced 2.1% Friday, extending a win streak to four sessions. The stock moved further back above its long-term 200-day line, but remains 1.5% below its 50-day moving average. AAPL shares inched lower early Monday.
Software leader Microsoft added 1.8% Friday, as shares moved back above their 50-day line. A new base is beginning to take shape. Microsoft fell 0.3% Monday morning.
Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones Industrial Average.
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The post Dow Jones Futures Fall As Oil Prices Jump Again; Boeing Dives On Airplane Crash appeared first on Investor’s Business Daily.
