The Dow Jones Industrial Average and the other major stock indexes edged lower Monday. Two early movers were Nvidia (NVDA) and Tesla (TSLA), which diverged sharply on the stock market today.
After the opening bell, the Dow Jones Industrial Average fell 0.1%, while the S&P 500 lost 0.2%. The tech-heavy Nasdaq composite moved down 0.3% in early trading.
↑ XEarly Monday, the 10-year Treasury yield ticked higher to 4.13%. Oil prices rebounded, with West Texas Intermediate futures trading around $70 per barrel.
Among exchange traded funds, the Invesco QQQ Trust (QQQ) was down 0.3%, while the SPDR S&P 500 ETF (SPY) fell 0.2% after the open.
Nvidia, Apple And Tesla Highlight How To Handle This Market
Nvidia shares notched record highs last week, squarely above a 131.26 buy point from an irregular handle. Shares were up 0.5% Monday morning.
Tesla shares remain below their 50-day line following sharp losses in recent weeks, as they declined 1.8% Monday. The electric-vehicle giant will report earnings this week.
The coming week will be light on economic data with the highlight likely being Thursday morning's release of initial jobless claims for the week through Oct. 19. The unknown is whether a jump in claims from Hurricane Milton will offset the drop in new claims from Helene.
Nvidia Stock Topples Microsoft, But Apple Still Reigns Supreme
On Friday, the Dow Jones Industrial Average inched higher, reaching another record high. The S&P 500 gained 0.4%, while the Nasdaq composite climbed 0.6%.
During Friday's IBD Live show, the IBD Live team discussed the current trading conditions and how investors should handle the stock market action.
Among the best companies to watch on the stock market today are Ryan Specialty (RYAN), Texas Roadhouse (TXRH), Uber Technologies (UBER) and United Therapeutics (UTHR).
Notable Dow Jones components are Amazon.com (AMZN), Apple (AAPL), JPMorgan Chase (JPM) and Microsoft (MSFT).
Uber and JPMorgan were featured in this Stocks Near A Buy Zone column.
There was one new stock on IBD MarketSurge's "Breaking Out Today" list Friday. Notably, Alkami Technology (ALKT) topped a 36 buy point. Check for more names on the site's "Near Pivot" list. To find additional stock ideas, check IBD Stock Lists like IBD 50, Big Cap 20 and Stocks Near A Buy Zone.
Nvidia Teases Record Breakout. It's Just One Of 19 'Perfect' Stocks.
Dow Jones financial leader JPMorgan closed right at a flat base's 225.48 buy point, according to MarketSurge pattern recognition. Shares were down a fraction early Monday.
Outside the Dow Jones index, insurance leader Ryan Specialty is in the buy range above a 69.03 flat-base entry following a recent breakout move. Shares fell 0.5% Monday.
Texas Roadhouse decisively reclaimed a 177.72 flat-base entry during last week's gains. Shares declined 0.9% Monday.
Uber Technologies fell sharply below an 82.14 buy point in a consolidation amid a five-day losing streak. Uber stock bounced 1.1% Monday morning.
Finally, United Therapeutics is in buy range above a 366.08 buy point following last week's breakout. The biotech holds high scores from Investor's Business Daily, placing it in an elite trifecta: The Big Cap 20, IBD Leaderboard and SwingTrader. Shares dipped 0.2% Monday.
This 'Big Daddy' Smashes All Mag 7 Stocks Except Nvidia. Now Watch For This.
These are four stocks in or near buy zones in today's stock market.
| Company Name | Symbol | Correct Buy Point | Type Of Buy Point |
|---|---|---|---|
| Ferrari | (RACE) | 498.23 | Flat base |
| Taiwan Semiconductor | (TSM) | 175.45 | Cup with handle |
| ServiceNow | (NOW) | 850.33 | Flat base |
| Uber Technologies | (UBER) | 82.14 | Consolidation |
Join IBD Experts As They Analyze Leading Stocks On IBD Live
Among Magnificent Seven stocks, Alphabet (GOOGL) rose 0.2%, while Meta Platforms (META) fell 0.5% Monday.
Google-parent Alphabet is finding support around the 50-day moving average. The stock remains well below prior highs. Meta stock hit a new high in recent weeks, rising further above a 544.23 alternate entry.
Among Dow Jones components in the Magnificent Seven, Amazon shares are bouncing from their 50-day line, near a 195.37 buy point in a cup with handle. The stock lost 1% Monday.
Apple stock broke out last week above a 233.09 cup-with-handle entry and is above that buy trigger. Shares inched higher Monday.
Microsoft shares are trying to regain their 50-day line and are near a handle buy point at 441.85. And on Monday morning, the stock dropped 0.6%.
Be sure to follow Scott Lehtonen on X at @IBD_SLehtonen for more on growth stocks, the Dow Jones Industrial Average and the stock market today.
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