Dow Jones futures, along with S&P 500 futures and Nasdaq 100 futures, traded lower ahead of Tuesday's open, as investors reacted to President Donald Trump's latest comments on Iran. The stock market rallied Monday as Wall Street reacted bullishly to reports that Iran is looking to ramp down hostilities with Israel.
Circle Internet, Meta Platforms, Nvidia, Palantir Technologies and Tesla were among the winners on the stock market today, as the Dow Jones Industrial Average rallied more than 300 points.
Late Monday, Trump posted on Truth Social that Iran should have signed the nuclear deal and that "Everyone should immediately evacuate Tehran!" Those comments sent futures lower.
Meanwhile, the White House said that Trump was returning to Washington D.C. from the G7 conference in Canada due to the Israel-Iran conflict.
Stablecoin issuer Circle continued to surge, with a 13% advance Monday. On June 5, the company's shares shot up 168% in its trading debut, raising $1.1 billion in an initial public offering after selling an upsized 34 million shares at an above-range price of $31 per share. Circle stock added another 1.2% late Monday.
Meta stock rallied 2.9% in Monday trading, moving out of buy range past a 662.67 cup-with-handle entry. The social media giant announced it would soon incorporate advertising into WhatsApp and also got a price-target hike from a Wall Street analyst.
Nvidia stock climbed 1.9%, rebounding from Friday's drop. Shares are just 5% away from their all-time high, set on Jan. 7. Shares edged lower late Monday.
Palantir stock hit a new high Monday, rallying 2.9%. Shares are moving further above a 125.25 cup-with-handle entry, according to IBD MarketSurge.
Finally, Tesla stock added to Friday's rebound, moving up 1.2% Monday. Shares are approaching an early entry at 367.71, the high price on May 29.
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Stock Market Today: Israel-Iran Conflict; Fed Meeting Looms
Midday Monday, the Wall Street Journal reported that Tehran has signaled through intermediaries that it would like to return to talks with the U.S. over its nuclear programs.
Middle Eastern and European officials told the WSJ that it would be open to more negotiations as long the U.S. does not join the current hostilities.
However, it remains to be seen whether Israel will be open to reducing the current level of hostilities.
Elsewhere, the Federal Reserve's two-day policy meeting ends Wednesday with new interest-rate projections, followed by Fed Chairman Jerome Powell's news conference. With projections saying no chance of a rate cut, markets will focus on whether new projections match March's outlook for 50 basis points in rate cuts this year.
Meanwhile, May retail sales data is due out Tuesday. Sales are expected to fall 0.6% on the month amid lower auto sales, according to Econoday. Excluding autos, however, sales are forecast to rise 0.2%
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Dow Jones Futures Today: Oil Prices, Treasury Yields
On Monday, the Dow Jones Industrial Average rallied 0.8%, or 317 points, while the S&P 500 gained 0.9% and the Nasdaq climbed 1.5%.
Ahead of Tuesday's opening bell, Dow Jones futures dropped 0.4%, as S&P 500 futures dropped 0.5%. Tech-heavy Nasdaq 100 futures were down 0.6%. Remember that overnight action in Dow Jones futures and elsewhere doesn't necessarily translate into actual trading in the next regular stock market session.
On Monday, the 10-year U.S. Treasury yield ticked higher to 4.45%. And oil prices pulled back, as West Texas intermediate futures settled near $71.50 a barrel.
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What To Do Now As Market Rally Continues
Following the ongoing bullish stock market action, now is an important time to read IBD's The Big Picture column. With the stock market in rally mode, investors should be methodically putting their capital to work by buying strong breakouts past correct entries. Check out the latest Big Picture column for today's updated recommended exposure level.
On Monday's "IBD Live" show, the team discussed the current trading conditions of the stock market action.
An essential resource for daily breakouts is IBD MarketSurge's "Breaking Out Today" list. It shows MarketSurge Growth 250 stocks that are breaking out past buy points. Meanwhile, the MarketSurge "Near Pivot" list shows more stocks nearing buy points in bases.
To find more stock ideas, check IBD Stock Lists like the IBD 50, Big Cap 20 and Stocks Near A Buy Zone. These features identify bullish patterns and buy points and are available to check every day.
Be sure to follow Scott Lehtonen on X/Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones Industrial Average.
