July 21, 2024

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Dow Jones Futures: 8 Stocks to Buy and Watch with CPI Inflation Report

Dow Jones Futures: 8 Stocks to Buy and Watch with CPI Inflation Report

Dow Jones futures, along with S&P 500 futures and Nasdaq 100 futures, were little changed ahead of Tuesday’s open in evening trading, with the October CPI inflation report looming on the horizon. Meanwhile, the eight best stocks to buy and watch in the stock market rally include the tech giant Nvidia (NVDA) and software giant Dow Jones Microsoft (MSFT).


Stock market today: Dow Jones rises

On Monday, the Dow Jones Industrial Average rose 0.2%, while the S&P 500 fell 0.1%. The Nasdaq Composite Index, which is dominated by technology stocks, lost 0.2%.

Electric car giant Tesla (TSLA) rose 4.2% on Monday, while shares of stock market leader Nvidia rose 0.6%. Meanwhile, technology icons in the Dow Jones apple (Camel) Microsoft was trading lower on the stock market today, with AAPL stock down 0.9% and Microsoft stock down 0.8%.

Amazon (Amzn), along with Mercadolibre (Millie), Nvidia and IBD stock leaders Service now (now) – as well as Dow Jones stocks Intel Corporation (you are K), microsoft, Walmart (And die) And UnitedHealth (United nations) — one of the best stocks to buy and watch in the current market rally.

Intel appeared in the column of stocks near the buy zone. ServiceNow and Microsoft are on the IBD Leaderboard.

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Dow Jones Index Today: Oil Prices and Treasury Yields

Before the opening bell on Tuesday, Dow Jones futures, S&P 500 futures and Nasdaq 100 futures were little changed versus fair value. Remember, overnight movement in Dow Jones futures and elsewhere does not necessarily translate into actual trading in the next regular stock market session.

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On Monday, the yield on 10-year US Treasury bonds rose to 4.63%. Meanwhile, oil prices rebounded, with WTI futures closing above $78 per barrel.

Stock Market Rising: What to Do Now

Now is an important time to read IBD’s Big Picture column, with the stock market forecast in a certain uptrend.

After the upward move on Friday, investors are supposed to increase their exposure to the market. IBD recommends a level of 60% to 80%, with the trend continuing to strengthen. But be prepared for a volatile week of events, with major inflation reports due Tuesday and Wednesday.

A great source for daily breakouts is IBD MarketSmith’s “Breaking Out Today” list. It shows MarketSmith Growth 250 stocks that have crossed new buy points. Meanwhile, MarketSmith’s “Near Pivot” list shows stocks that are approaching buy points in the bases.

To find more stock ideas, check out IBD’s stock lists, such as Bahraini dinar 50, Large cap 20 The stock is near the buy zone. These features identify bullish patterns and buy points and should be checked every day.

Dow Jones stocks: Intel, Walmart, and UnitedHealth

Chip giant Intel is in a buy range beyond a 37.22 buy point in a double-bottom base, according to IBD MarketSmith chart analysis. Intel stock fell 1.6% on Monday, still higher than the last entry.

Dow Jones retail giant Walmart is in a buy range beyond its 165.85 buy point, according to IBD MarketSmith chart analysis. Shares rose 0.9% on Monday, beating a buy reason.

Healthcare giant UnitedHealth adds a handle to the massive consolidation, showing a new buy point at 546.78. UN stock rose 0.2% on Monday.

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4 Higher Growth Stocks to Watch in Stock market pool

Stocks to Buy and Watch: Nvidia in buy range

Amazon has made a move back above the 50-day moving average line in recent weeks, surpassing the early entry level of 134.48. Now, AMZN stock is within striking distance of a 145.86 buy point for a cup base, while a handle could eventually form. Shares fell 0.7% on Monday.

MercadoLibre fell last week, adding a handle to its cup base. This takes the buy point to 1,398.59, according to IBD MarketSmith Pattern Recognition. MELI stock rose 0.3% on Monday.

Graphics chip giant Nvidia is in a buy range beyond the double entry level of 476.09. Shares moved decisively above the entry level on Friday and added 0.6% on Monday. The company’s earnings results will be released on November 21.

ServiceNow is barely outside of buy range after the 607.90 entry level in the double bottom. The buy zone rose 5% to 638.30. The pattern can also be interpreted as a flat base with a buy point of 614.36. NOW stock added 0.6% on Monday.

Learn how to time the market with IBD’s ETF market strategy

Top stocks in today’s stock market action

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
Amazon (Amzn) 134.48 Double bottom
UnitedHealth (United nations) 546.78 Handling entry
Kings Project (DKNG) 31.10 Trend line
Nvidia (NVDA) 476.09 Double bottom
Source: IBD data as of November 13, 2023

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Tesla shares

Tesla stock rose more than 4% on Monday, reclaiming its 200-day moving average line. TSLA stock has seen some strong resistance around this level in recent weeks.

Shares are down about 27% from their 52-week high.

Dow Jones leaders: Apple, Microsoft

Among Dow Jones stocks in the Magnificent Seven, Apple fell 0.9% on Monday, holding above an early entry level of 182.34. Shares continue to track the consolidation which has a buy point at 198.23.

Microsoft stock fell 0.8% on Monday, giving up a 366.78 buy point. In recent weeks, shares have risen above the early buy level of 346.20.

Be sure to follow Scott Lehtonen on X/Twitter at @IBD_SLehtonen To learn more about growth stocks and the Dow Jones Industrial Average.

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