Dow Jones futures and other major indexes threatened to extend losses, as… Nvidia (NVDA) The stock market continued to slide today. Meanwhile, Bitcoin has risen to record levels.
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Dow Jones futures fell 0.4% versus fair value in morning trading Monday, as did S&P 500 futures. Futures for the tech-heavy Nasdaq 100 index fell 0.5% before the opening bell.
Among the US exchange-traded funds is the Nasdaq 100 Tracker Invesco QQQ Trust ETF (QQQ) fell 0.7%, while the SPDR S&P 500 ETF fell (spy) lost 0.5%.
The 10-year Treasury yield fell to 4.08%. Furthermore, oil prices added to Friday's losses, as West Texas Intermediate crude futures fell 0.5%, to trade around $77.60 per barrel.
Artificial intelligence company Nvidia's stock fell 1.5% on Monday morning, threatening to add further to Friday's 5.6% decline. However, Nvidia stock is still more than 80% above its flat entry level of 505.48 and is an IBD Leaderboard stock.
The price of Bitcoin rose 2.6% on Monday morning, reaching a new record high and trading above $71,400. Cryptocurrency stocks Coinbase (currency) rose another 6% in pre-market action, well above the buy point of 193.64.
Be sure to read about how to adapt to changing market conditions, with IBD's new exposure levels.
Stock market today
The release of the US Labor Department's Consumer Price Index on Tuesday highlights the week. The CPI is expected to rise by 0.4% on a monthly basis, an increase of 3.1%. Wall Street expects core prices in February to rise by 0.3%, with a 3.7% rise year over year.
Additionally, US retail sales are due on Thursday, which is a key reading for the consumer mindset.
Key earnings reports include this week Adobe (ADBE), inspiration (ORCL) And Byblos (JBL).
Dow Jones Falls
On Friday, the Dow Jones Industrial Average fell 0.2%, while the S&P 500 fell 0.7%. The tech-heavy Nasdaq Composite sold off 1.2%.
Friday's Big Picture column commented, “The majority of S&P 500 sectors closed in the red on Friday. The defensive utilities and real estate sectors rose as well as the energy sector during the day. In contrast, technology and consumer discretionary had tough sessions.”
Now is an important time to read IBD's “Big Picture” column amid the ongoing stock market rally. Be sure to read about 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
The best stocks to buy and watch in today's stock market
Duolingo (Ragdoll), Fifth Third Bancorp (fitp), Fortnite (Fascinated) And Weatherford (WFRD) – in addition to the components of the Dow Jones Index Disney (Dis), IBM (IBM) And Procter & Gamble Company (s) — among the best stocks to buy and watch in the stock market today.
IBM and Duolingo are featured in this “Stocks Near Buy Zone” column.
An essential resource for your daily escape IBD MarketSurge Check out today list. He appears Market growth 250 Stocks breaking through new buy points. There were three escapes on Friday, including… Samsara (The Internet of things). Samsara shares rose past a 36.91 buy point on Friday. The stock fell 0.6% on Monday.
Meanwhile, MarketSurge's “Near Pivot” list shows stocks that are approaching buy points in bases, such as Dr. Horton (DHI) which is close to entering 157.93 cups. Shares fell 0.7% on Monday.
Get real-time buy and sell alerts on stock market leaders with the IBD Leaderboard
Dow Jones Stocks: Disney Trying to Breakout
Disney is trying to surpass a buy point for its large cup with handle base of 112.92, according to IBD MarketSurge chart analysis. Disney stock lost 0.3% on the stock market today.
IBM stock is also trying to break above a flat buy point at 196.90, but was down 0.3% on Friday. IBM shares fell 0.2% on Monday.
Consumer products giant Procter & Gamble's stock fell 0.2% on Friday, holding above a buy point of 158.38 in a cup base. Procter & Gamble stock rose 1% on Monday.
3 top growth stocks to watch in Stock market pool
Point of purchase for square eyes
IPO leader Duolingo added a handle to the base of the cup, raising the buy point to 241.86. Duolingo shares rose 1.4% on Monday.
Fifth Third Bancorp stock fell on Friday, still above its 35.73 buy point. Shares fell slightly on Monday.
Leading cybersecurity firm Fortinet adds a handle to its long cup base, raising its buy point to 73.91. The stock fell 0.8% on Monday.
The square main block adds a raised handle to the base of the cup, raising the valid buy point to 83.29. The short-term breakout failed after the 80.29 entry last week when the stock fell 7% from the buy reason. Square shares rose 0.3% on Monday.
Best bets on the stock market today
These are the four best stocks to watch in the stock market today, including Dow Jones stocks.
| Company Name | Code | Correct point of purchase | Point of purchase type |
|---|---|---|---|
| Novo Nordisk | (NVO) | 105.69 | Flat base |
| Merck | (Mark) | 119.65 | Cup base |
| Kings Project | (DKNG) | 39.35 | Cup base |
| Spotify | (spot) | 202.88 | Flat base |
Source: IBD data as of February 28, 2024
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The 7 Great Stocks: Tesla
Among the seven great stocks, Tesla (TSLA) rose by 0.3% in premarket trading.
Tesla stock fell 1.9% on Friday, remaining near its recent lows. Shares remain sharply below their 50-day and 200-day moving averages.
Dow Jones leaders: Apple, Microsoft
Among the Dow Jones stocks in Magnificent Seven, apple (Camel) And Microsoft (MSFT) were trading mixed before the stock market opened on Monday.
Apple shares rose 1% on Friday, ending a seven-day losing streak. Shares remain sharply below their long-term 200-day line. The stock rose 0.3% on Monday morning.
Microsoft shares have been trying to find support at the 50-day line in recent sessions, which is a key area to watch. The software giant fell 0.6% on the stock market today.
Be sure to follow Scott Lehtonen on X, formerly known as Twitter, at @IBD_SLehtonen To learn more about growth stocks, the Dow Jones Industrial Average, and today's stock market.
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