Futures
The Dow Jones and Stock Market Movements: A Comprehensive Analysis
2024-11-25
The Dow Jones Industrial Average and various major stock indexes witnessed a notable upward trend on Monday. Tesla (TSLA) surged close to a new high, while MicroStrategy (MSTR) continued its rebound in the stock market. Before the opening bell, Dow Jones futures rose by 0.8% or 350 points above fair value. The S&P 500 futures also moved up by 0.7%, and the tech-heavy Nasdaq 100 futures traded up by 0.7% in morning trading.
Unraveling the Dynamics of the Stock Market
Early Monday's Market Scenario
In early Monday trading, the 10-year Treasury yield slightly decreased to 4.34%. Oil prices eased, with West Texas Intermediate futures trading around $71.10 per barrel. Among exchange-traded funds, the Invesco QQQ Trust (QQQ) and the SPDR S&P 500 ETF (SPY) both moved up by 0.7% ahead of the open. Tesla stock rallied by 2.4% premarket on Monday, just shy of a new 52-week high. Shares were significantly extended past a 264.86 cup-with-handle entry. Meanwhile, MicroStrategy jumped by 4.3%, aiming to add to Friday's rebound following Thursday's 16% plunge. The price of bitcoin traded just above $98,000 in early action.Stock Market Today: Key Earnings and Economic Data
This week, key earnings reports include Burlington Stores (M), Nordstrom (JWN), and Dick's Sporting Goods (DKS), along with Dell (DELL), CrowdStrike (CRWD), and Semtech (SMTC). On the economic front, the Fed's primary inflation gauge, the core personal consumption expenditures price index (PCE), is expected to be released on Wednesday midmorning, which is a change from the usual premarket fare. Other important economic data includes jobless claims, durable goods orders, and a second estimate on third-quarter GDP growth. New home sales for October will be released on Tuesday, followed by pending home sales on Wednesday.Amazon, Google, and Nvidia in the Stock Market
Amazon elbowed out Google while Nvidia shoved Apple aside. On Friday, the Dow Jones Industrial Average advanced by 1%, and the S&P 500 climbed by 0.4%. The tech-heavy Nasdaq composite moved up by 0.2%. Among the best companies to watch on the stock market today are Broadcom (AVGO), Deckers Brands (DECK), Heico (HEI), Cloudflare (NET), and Tradeweb Markets (TW). Dow Jones components making notable moves are Amazon.com (AMZN), Apple (AAPL), Microsoft (MSFT), and Sherwin-Williams (SHW). Broadcom featured in this Stocks Near A Buy Zone column. There were four new stocks on IBD MarketSurge's "Breaking Out Today" list Friday, notably Atlassian (TEAM), which topped a 256.39 cup-with-handle entry. Check for potential breakouts on the "Near Pivot" list. To find additional stock ideas, check IBD Stock Lists like IBD 50, Big Cap 20, and Stocks Near A Buy Zone.Dow Jones Leaders and Their Buy Points
Dow Jones leader Sherwin-Williams is approaching a 392.57 buy point in a flat base, although shares edged lower on Monday. Outside the Dow Jones index, artificial intelligence giant Broadcom remains below its 50-day moving average as it continues to build a flat base with a 186.42 entry. Broadcom shares rose by 0.6% on Monday. Heico is in buy range above its flat base's 269.38 buy point and is a recent IBD Stock Of The Day. Shares gained 0.7% early Monday. Deckers stock surged past a buy point in a cup-with-handle base at 182.26 on Friday as shares continued to rally in recent months. Deckers stock was up by 1.6% on Monday. Cloudflare broke out last week, topping a 99.17 buy point in a cup with a handle. The 5% buy zone runs up to 104.13, so shares are barely extended. Cloudflare stock climbed by 1.5% premarket on Monday. Finally, Tradeweb closed Friday just below a 136.13 entry in a flat base. Tradeweb stock rose by 1.1% in premarket action on Monday.Stock Market Today: Companies to Watch
These are four stocks in or near buy zones in today's stock market.Company Name: TradewebSymbol: (TW)Correct Buy Point: 136.13Type Of Buy Point: Flat baseCompany Name: Costco WholesaleSymbol: (COST)Correct Buy Point: 923.83Type Of Buy Point: Flat baseCompany Name: BroadcomSymbol: (AVGO)Correct Buy Point: 186.42Type Of Buy Point: Handle entryCompany Name: Deckers BrandsSymbol: (DECK)Correct Buy Point: 172.57Type Of Buy Point: Handle entrySource: IBD Data as of Nov. 20Be 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.