Futures: Powell looms as Nvidia rebounds from buy point

Futures: Powell looms as Nvidia rebounds from buy point

Dow Jones futures, along with S&P 500 futures and Nasdaq 100 futures, were little changed ahead of Tuesday’s open in overnight trading, with Federal Reserve Chairman Jerome Powell’s speech on Friday looming. Meanwhile, tech giant Nvidia’s stock has rebounded from a recent buy point.


The economic calendar is heavy this week, with October’s personal income and expenditures including the Federal Reserve’s core inflation measure, the personal consumption expenditures price index. Expectations are for a tame read. However, the measures in the data leave room for surprise. After the weak retail sales report, the personal consumption expenditures report will indicate whether spending on services is also moderating.

Furthermore, Fed Chairman Jerome Powell will speak in a fireside chat at Spelman College in Atlanta on Friday.

Big earnings reports this week include software giant Dow Jones Sales force (CRM), in addition Intuit (You and), Pure storage (PSTG) and Dell Technologies (Dale).

late Monday, Zscaler (ZS) fell nearly 7% in extended trading after announcing its fiscal first-quarter results. Shares ended Monday extending from a 177.69 buy point in a bullish base.

Stock Market Today: Dow Jones Falls

On Monday, the Dow Jones Industrial Average and S&P 500 fell 0.2%, while the tech-heavy Nasdaq Composite dropped 0.1%.

Electric car giant Tesla (TSLA) rose 0.3% on Monday, while leading the stock market Nvidia (NVDA) rose by 1%. NVDA stock rebounded from a double bottom of 476.09, ending a three-day losing streak.

Meanwhile, technology icons in the Dow Jones apple (Apple) and Microsoft (MSFT) Shares were trading mixed on the stock market today, with AAPL stock down 0.1% and Microsoft stock up 0.3%.

Advanced micro devices (AMD) and IBD Leaderboard Amazon (AMZN), with Rocco (ROKU) and IBD SwingTrader shares Shopify (SHOP) – plus shares of Dow Jones Salesforce and UnitedHealth (UNH) – Among the top stocks to watch in the current market rally.

Salesforce and Shopify appeared in the stock column near a buy zone. AMD was one of the recent IBD stocks of the day.

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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.

On Monday, the 10-year US Treasury yield fell to 4.38%. Meanwhile, oil prices fell, with WTI futures settling below $75 per barrel.

Get real-time buy and sell alerts on stock market leaders with the IBD Leaderboard

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.

Amid the continued upward movement in recent weeks, investors can increase their exposure to the market. IBD recommends a level of 80% to 100%, with the trend continuing to strengthen.

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 our lists of IBD stocks, such as the IBD 50, Big Cap 20, and stocks near a buy zone. These features identify bullish patterns and buy points and should be checked every day.

Dow jones stocks to watch

Software leader Salesforce is approaching a 228.79 buy point in a double-bottom base, according to IBD MarketSmith chart analysis. CRM stock is about 3% away from its last buy point. Shares rose 0.2% on Monday.

Healthcare giant UnitedHealth is trying to surpass the entry level of 546.78. But stocks fell below that level, down 0.6% on Monday.

4 Higher Growth Stocks to Watch in Stock market pool

Stocks to Buy and Watch: Roku Breaks Out

IBD Leaderboard Amazon shares moved further above the cup base buy point of 145.86 during Monday’s gain of 0.7%. Shares remain sharply above the early entry level of 134.48.

Chip leader AMD is trying to surpass a 122.11 buy point in a cup with handle, according to IBD MarketSmith pattern recognition, amid Monday’s 0.3% rise.

IBD SwingTrader Shopify stock jumped out of a buy range past a double-bottom buy point at 67.60. The buy zone peaked at 70.98, so shares extended. SHOP stock rose nearly 5% on Monday, amid positive data related to the start of the holiday shopping season.

Roku’s price surged past its buy point at 98.44, rising 8.5% on Monday. Shares jumped after Cannonball Research upgraded the stock from neutral to buy, with a price target of 116.

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) 145.86 Cup base
UnitedHealth (United nations) 546.78 Handling entry
Take care of the brothers (tulle) 82.39 Cup with handle
Advanced micro devices (AMD) 122.11 Cup with handle
Source: IBD data as of November 27, 2023

Join IBD experts as they analyze the leading stocks in the current stock market rally on IBD Live

Tesla shares

Tesla stock rose 0.3% on Monday, with shares still facing strong resistance around the 50-day line after reclaiming the 200-day line in recent weeks.

TSLA is down about 20% from its 52-week high.

Dow Jones leaders: Apple, Microsoft

Apple stock fell 0.1% on Monday, still near its highest level since early August. Shares are above the early entry level at 182.34, continuing to track consolidation that has a buy point at 198.23. The last pause can be the start of the handle.

Microsoft stock rose 0.3% on Monday, hitting an all-time high of 380.64. The stock is approaching the top of a buy range above the 366.78 buy point of the cup base. 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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