Dow Jones Futures: Nvidia CEO Speech Focus; Google, Tesla rise ahead of Fed meeting

Dow Jones futures, S&P 500 futures and Nasdaq 100 futures were little changed before the stock market opened on Tuesday. Nvidia (NVDA) focused on extended trading, while the amazing seven stocks letters (Google) and Tesla (D.S.L.A) rallied sharply ahead of the Federal Reserve's two-day meeting.


Late Monday, Nvidia shares were down about 1% Chief Executive Jensen Huang Delivered the keynote address at the Society for Artificial Intelligence Developers' annual GTC conference in San Jose, California. The four-day event is called “AI Woodstock”. Nvidia is an IBD Leaderboard stock.

After the market closes, Stoneco (STNE) is a key revenue driver. Stonco shares fell more than 10% in extended trading.

This week, it includes key earnings reports KP Home (KBH), Micron technology (IN) and Nike (OF) Ollie's Bargain Outlet (Ollie), Lululemon Athletica (Lulu) and Five down (Five) further informs.

The interest rate decision was made on Wednesday at the Federal Reserve's two-day policy meeting, which will dominate the economic spotlight this week.

Fed Chairman Jerome Powell could signal that a near-term rate cut could be on the cards, supporting the odds of a June move and surprising the no-loading camp, or those expecting higher inflation to keep rates on hold. . Still, Fed projections may pencil in a smaller rate cut in both 2024 and 2025 than they showed in December, surprising soft-landing forecasters.

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Stock market today: Google, Tesla rally

On Monday, the Dow Jones Industrial Average rose 0.2% and the S&P 500 gained 0.6%. The tech-heavy Nasdaq composite advanced 0.8%.

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Among the Magnificent Seven stocks, Tesla shares were the biggest winners, up 6.3%, and Google raised 4.6% for Thai Alphabet, which is in talks with Apple to license its “Gemini” artificial intelligence training model for use in iPhones.

Finally, the Dow Jones technical symbols Apple (APL) and Microsoft (MSFT) shares of Apple and Microsoft traded up 0.6% and 0.2%, respectively, in today's stock market.

Arista Networks (Aneta), Duolingo (By), Dexcom (DXCM) and Exp (Exp) — and Dow Jones components Disney (DIS), IBM (IBM) and Procter & Gamble (PG) — is one of the best stocks to buy and watch in the stock market today.

Arista and Disney are featured in this Stocks Near a Buy Zone column.

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Dow Jones today: Oil prices, Treasury yields

Before the opening bell Tuesday, Dow Jones futures, S&P 500 futures and tech-heavy Nasdaq 100 futures were little changed. fair value. Remember 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 rose to 4.34%. Meanwhile, oil prices continued to rise on Monday as West Texas Intermediate futures settled above $82 a barrel.

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Stock Market Rally: What to Do Now

Now is an important time to read IBD's The Big Picture column, as the stock market outlook remains bullish. Check out today's The Big Picture for updated exposure levels following Monday's action.

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An essential resource for daily breakouts of IBD MarketSurge “Breaking Out Today” list. It shows Market Surge Growth 250 Exit stocks cross new buy points. No breakouts on Monday.

Meanwhile, the MarketSurge “Near Pivot” list shows stocks near buy points on platforms like Arista Networks.

Check out the IBD Stock Lists to find more stock ideas IBD 50, Big cap 20 and stocks near a buy zone. These features identify bullish patterns and buy points are available to check every day.

Dow Jones: Disney, IBM, P&G

According to IBD MarketSurge chart analysis, Disney has broken through the 112.92 buy point of a major cup-with-handle base. And shares closed above their entry on Monday with a 1.7% gain.

After a 0.3% gain on Monday, IBM stock is below a flat base's 196.90 buy point.

Consumer products giant Procter & Gamble traded at Monday's lows, above a 158.38 buy point in Cup Base.

4 Best Growth Stocks to Watch Stock market rally

Arista stock nears breakout

Arista shares rose 4.2% on Monday, nearing a flat-base buy point of 292.66. Market rise Charts. They are 2% away from the latest buying trigger.

IPO leader Duolingo is approaching the handle's 241.86 entry with a cup, but is about 10% away from a buy point.

Dexcom shares advanced 3.3% on Monday, reclaiming a flat base at 132.03 entry.

Finally, Brazil-based XP lost 0.6% on Monday, finding support above its 50-day line. Stocks form a cup with a handle showing an entry of 27.03.

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Best bet on the stock market today

These are four of the best stocks to watch in today's stock market, including the Dow Jones leader.

Company Symbol Perfect purchase point Type of point of purchase
Novo Nordisk (Non-Government Organizations) 105.69 Flat base
Merck (MRK) 119.65 cup base
Draft Kings (D.K.N.G) 39.35 cup base
Spotify (Spot) 202.88 Flat base
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Source: IBD data as of March 4, 2024

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Seven amazing stocks: Tesla

Among the Magnificent Seven stocks, Tesla shares rose more than 6% on Monday, recovering from last week's lows.

Shares are below their 50- and 200-day lines and are more than 40% above their 52-week high.

Dow Jones Leaders: Apple, Microsoft

Among Dow Jones stocks in the Magnificent Seven, Apple and Microsoft traded higher during Monday's stock market action.

Apple shares rose 0.6% on Monday, their highest level since March 4. Shares are below their long-term 200-day line.

Microsoft shares found support at a 50-day line, sending them to new highs last week. This put the software company in new buying territory.

Don't forget to follow Scott Lehtonen on X/Twitter @IBD_SLehtonen Learn more about growth stocks and the Dow Jones Industrial Average.

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