Futures: S&P 500 Hits New High
Dow Jones futures, along with S&P 500 futures and Nasdaq 100 futures, were little changed before Tuesday's stock market open. The S&P 500 hit another high Monday, while Nvidia ( NVDA ) stock closed at a record high with sharp gains.
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Techs lead as indices extend gains; Delta, Pult, Corning in focus
It's been a mostly quiet week for economic data, but new claims for unemployment benefits on Thursday should be higher due to the impact of Hurricane Milton. Economists expect initial claims to rise 12,000 to 270,000 in the week to Oct. 12, after a 33,000 jump the previous week, according to FactSet.
September retail sales, also on Thursday, will focus on consumer strength. Economists expect a 0.45% increase overall from August and a 0.25% gain excluding autos, both a modest pickup after rising 0.1% the previous month.
Nvidia stock rose 2.4% on Monday, closing at an all-time high. Shares are just shy of an all-time intraday high of 140.76, which was set on June 20.
This week's key earnings reports include the streaming giant Netflix (NFLX) and Nvidia Chipmaker Taiwan Semiconductor Manufacturing (TSMC). Both tech giants are set to report on Thursday.
Wall Street is wagging its tail at this stock's 301% run, seeing more to come
Stock market today
On Monday, the Dow Jones Industrial Average rose 0.5%, while the S&P 500 gained 0.8%. Both reached new heights. And the tech-heavy Nasdaq Composite advanced 0.9%.
Among the best companies to watch in the stock market today Ryan's specialty (Ryan), Texas Roadhouse (TXRH), toast (TOST) and Uber Technologies (UBER).
Significant Dow Jones components the amazon (AMZN), apple (AAPL), JP Morgan Chase (jpm) and Microsoft (MSFT).
Uber and JPMorgan are featured in a buy zone column near these stocks.
Close, but no 'perfect' cigar for Nvidia, Broadcom. But thanks to these 22 gems.
Dow Jones Today: Oil Prices, Treasury Yields
Before Tuesday's opening bell, Dow Jones futures, along with S&P 500 futures and tech-heavy Nasdaq 100 futures, were little changed vs. fair value. Note that overnight action in Dow Jones futures and elsewhere does not necessarily translate into actual trading in the next regular stock market session.
On Monday, the 10-year US Treasury yield held steady at 4.09%. And oil prices fell, as West Texas Intermediate futures settled around $74 a barrel.
what to do now
Now is an important time to read IBD's The Big Picture column amid ongoing stock market action. After Monday's session, be sure to check out today's The Big Picture and today's updated exposure level.
On Monday's “IBD Live” show, the team discussed the current trading situation amid the ongoing stock market rebound.
An essential resource for daily breakouts is IBD MarketSurge's “Breaking Out Today” list. It shows MarketSurge Growth 250 stocks breaking past buy points. Meanwhile, MarketSurge “Near Pivot” lists show more stocks near buy points in the bases
To find more stock ideas, check out IBD stock lists such as 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 daily.
Highlight how Nvidia, Apple and Tesla will manage this market
Dow Jones: JPMorgan Eyes Buy Point
Dow Jones financials leader JPMorgan is approaching a flat base with a 225.48 buy point, according to MarketSurge pattern recognition.
Outside the Dow Jones Indices, insurance leader Ryan Specialty is at the top of a buy range above a flat-base entry of 69.03 after a recent breakout move.
Texas Roadhouse continued to hover around a flat-base entry of 177.72 amid a recent rebound.
Restaurant software provider Toast remains in a buy zone above its 27.88 buy point despite three straight days of losses.
Finally, Uber Technologies crossed the 82.14 buy point in consolidation on Friday with a 10.8% gain. Shares fell 1.6% on Monday, still above the entry.
Broadcom drags out Tesla while Amazon goes head-to-head with Google
Stock Market Today: Companies to Watch
These four stocks are close to buy zones in today's stock market.
| Company Name | symbol | Correct buy point | Type of buy point |
|---|---|---|---|
| the ferrari | (RACE) | 498.23 | Flat base |
| Taiwan Semiconductor | (TSM) | 175.45 | Cup with handle |
| Service now | (now) | 850.33 | Flat base |
| Uber Technologies | (UBER) | 82.14 | Consolidation |
Source: IBD data as of Oct. 14
Magnificent Seven Stocks: Alphabet, Meta, Tesla
Among the Magnificent Seven stocks, the alphabet (GOOGL), Meta platform (META) and Tesla (TSLA) all closed higher in Monday's trading.
Google parent Alphabet is finding support near the 50-day line after a rebound in the recent session.
Meta stock hit a new high last week, above a 544.23 option entry, while Tesla shares staged a modest rebound after Friday's plunge through the 50-day line.
Dow Jones Leaders: Amazon, Apple, Microsoft
Among the Dow Jones components in the Magnificent Seven, Amazon shares are headed for a 195.37 entry in a cup with a handle.
Apple is at 232.92 buy points in a V-shaped cup with handles after Monday's 1.7% rally. And Microsoft shares show a 441.85 handle entry.
Be sure to follow Scott Lehtonen on X/Twitter @IBD_SLehtonen Learn more about growth stocks and the Dow Jones Industrial Average.
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