Dow futures were little changed ahead of Tuesday’s open after the Dow Jones Industrial Average fell 376 points on Monday. Next January’s CPI inflation report is due on Tuesday, and recent revisions showed that inflation was running hotter than previously thought.
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The CPI inflation report from the Labor Department is due at 8:30 AM ET. According to Econoday estimates, the CPI is expected to rise 0.5% for the month versus December, with an annual increase of 6.2%.
Arista Networks (a net), Cadence Design Systems (CDNS), lattice semiconductor (LSCC), medspace (MEDP) and SolarEdge Technologies (SEDG) will report earnings results after the close on Monday.
Shares of Arista climbed 1.2% in extended trading and are coming in at a buy point at 140.91. Cadence jumped nearly 3%. Latisse stock climbed less than 1%. And MedSpace was delayed by about 2%. Finally, shares of SolarEdge declined 1% despite strong Q4 earnings and sales results.
Additional Income Results Included This Week Airbnb (ABNB), Albemarle (alb), Applied Materials (AMAT), Coca-Cola (KO), Global Foundries (GFS), roblox (rblx), stop (stop) and Shopify (Shop).
stock market today
The Dow Jones Industrial Average and S&P 500 each climbed 1.1% on Monday. The tech-heavy Nasdaq Composite gained 1.5%. Among exchange-traded funds, the Nasdaq 100 tracker Invesco QQQ Trust (QQQ) climbed 1.6% and the SPDR S&P 500 (SPY) climbed 1.2%.
Electric-Vehicle Giants Tesla (TSLA) traded down 1.1% on Monday. in dow jones stocks, Apple (AAPL) rose 1.9% Microsoft (MSFT) jumped 3.1% in today’s stock market.
Dexcom (DXCM), IBD Leaderboard Stock snowflake (Ice), Inspire Medical Systems (Insp) and wingstop (wing) – as well as Dow Jones stocks Kamla (Cat), JPMorgan Chase (JPM) and sales force (CRM) — are among the top stocks to buy and watch amid the recent pullback in the market’s rally.
Snowflake is an IBD Leaderboard stock. Inspire was the recent IBD stock of the day. Salesforce was featured in this week’s Stocks Near a Buy Zone column.
4 top growth stocks to buy and watch currentlyRENT stock market rally
Dow Jones Futures Today: Oil Prices, Treasury Yields
Ahead of Tuesday’s opening bell, Dow Jones futures, S&P 500 futures and Nasdaq 100 futures versus fair value were little changed. Remember that overnight action in Dow Jones futures and elsewhere does not necessarily translate into actual trading in the next regular stock market session.
The 10-year US Treasury yield fell to 3.71% on Monday. Oil prices fell less than 1% on Monday, halting last week’s big plunge. West Texas Intermediate futures were trading above $79 a barrel.
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What to do in the ongoing rally in the stock market
Now is an important time to read IBD’s The Big Picture column, which features stock market trends in a “confirmed trend” amid strong gains since the January 6 follow-through day.
Despite last week’s losses on the Nasdaq, the stock market is still rallying after big gains since early January. Therefore, it is prudent for investors to maintain an exposure of 60% to 80%. But be prepared to move quickly because things can change quickly in the stock market, especially with the release of the CPI inflation report on Tuesday.
(Check out IBD stock lists such as the IBD 50 and Stocks Near a Buy Zone for additional stock ideas.)
5 Dow Jones Stocks to Buy Now and See
Dow Jones Stocks to Buy and Watch: Caterpillar, JP Morgan, Salesforce
According to IBD MarketSmith chart analysis, the top Dow Jones stock Caterpillar is back in a buy range above its $239.85 flat-base entry as it tries to find support around its 50-day moving average. CAT stock rose 0.2% on Monday even as Baird downgraded the stock from Outperform to Neutral with a lower price target of $230.
Banking giant JPMorgan is in a 5% buy range above the 138.76 flat-base buy point after rising 1.1% on Monday. The 5% buy zone is topped out at 145.70. JPM Stock shows a solid 94 out of a perfect 99 IBD composite rating, according to IBD Stock Checkup. The aggregated ratings are designed to help investors easily find top growth stocks.
Salesforce, featured in this week’s Stocks Near a Buy Zone column, is forming a cup containing the 178.94 buy point. Shares climbed 2.4% on Monday.
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Top stocks to buy and watch: Inspire, Snowflake
According to IBD MarketSmith pattern recognition, the day Inspire Medical Systems’ recent IBD stock closed on top of a 5% buy zone of flat base’s 262.64 buy point, amid Monday’s 3% rally. The buy zone tops out at 275.77. INSP stock shows a modest 84 IBD Composite Rating.
Backstory: The company sells an implantable device to treat sleep apnea through electrical stimulation of the nerves — a process known as neurostimulation.
NEW IBD LEADERBOARD Stock Snowflake is nearing an early entry at 178.80, as the software leader moves to the right of a deep cup base that contains a 205.76 buy point. SNOW stock was up 2.9% on Monday.
Backstory: The software firm provides a new way for enterprises and large organizations to access, organize and analyze their data. To help customers maximize their investment in data analytics, Snowflake charges at the time of use. Earning is due on 1st March.
Dexcom, Wingstop I Latest Buying Points
Shares of DexCom gained 0.3% on Monday, moving to the right of a cup base with a 125.65 buy point. Shares may also make a handle in the next few weeks, so keep an eye out for possible lower entry.
Backstory: On February 9, DexCom reported better-than-expected quarterly results. The Beat comes as Dexcom’s latest continuous glucose monitor, or CGM, gains steam in the US and Europe. These body-worn devices monitor blood sugar in real time. The Food and Drug Administration approved Dexcom’s new device, the G7, last year.
Wingstop added a handle to the cup base, reducing true entry to 169.04. Shares are only 3% away from penetration after Monday’s nearly 5% rally.
Backstory: According to Dow Jones Newswires, the Dallas-based restaurant chain has more than 1,900 locations in US and international markets. Its international locations include Mexico, Colombia, Panama, Singapore and the UK. The company added a total of 40 stores in the last quarter. Income is due on 22 February.
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Tesla stock
Tesla stock declined 1.1% on Monday, adding to Friday’s 5% skid. Despite a strong rally since January 6, shares are still below the 200-day line.
The stock closed nearly 50% off its 52-week high on Monday.
Dow Jones Leaders: Apple, Microsoft
Among Dow Jones shares, Apple’s shares jumped 1.9% on Monday, reversing last week’s losses. Shares are about 15% off their 52-week high and trending to the right of a new base.
Microsoft stock rose 3.1% on Monday, snapping a three-day losing streak. Shares are back above their 200-day line and are about 17% below their 52-week high after recent gains.
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