Dow Jones futures, along with S&P 500 futures and Nasdaq 100 futures, traded little changed ahead of Tuesday's open. The stock market rallied Monday, as Wall Street reacted to a key trade concession from Canada.
Amazon, Apple, Palantir Technologies, Robinhood Markets and Tesla were big movers on the stock market Monday, as the Dow Jones Industrial Average rallied 275 points.
Amazon declined 1.8% Monday, still in buy range above a 214.84 cup-with-handle-entry following a recent breakout move. Meanwhile, fellow Magnificent Seven stock Apple rallied 2% to decisively regain its 50-day line for the first time since mid-May.
Palantir stock jumped more than 4%, rejoining IBD Leaderboard after a volatile session Friday, partly due to the balancing of the Russell indexes. Palantir snapped back Monday and is still in buy range from an alternate entry of 133.49.
Robinhood surged nearly 13% to hit a new high. Shares are sharply extended past a 66.91 buy point.
Finally, Tesla stock skidded 1.8% Monday, extending a losing streak to five sessions. Shares are pulling back to their 50- and 200-day moving averages. Tesla stock declined another 2% in extended trading after Chief Executive Elon Musk criticized the 'Big Beautiful Bill' in a post on X, saying "It is obvious with the insane spending of this bill, which increases the debt ceiling by a record FIVE TRILLION DOLLARS that we live in a one-party country – the PORKY PIG PARTY!! Time for a new political party that actually cares about the people."
The electric-vehicle giant is expected to announce global second-quarter vehicle delivery and production data on Wednesday. Analysts expect Tesla vehicle deliveries to come in at 390,000 for the quarter, which is 12% below a year ago but about 16% above the first-quarter total, according to FactSet.
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Stock Market Today: U.S.-Canada Trade News, Jobs Report
Late Sunday, Canada withdrew its digital services tax just one day before the first tax payments were due after President Donald Trump abruptly suspended trade talks Friday. Canada was set to collect billions of dollars from U.S. tech giants starting on Monday.
Trump and Canadian Prime Minister Mark Carney spoke Sunday, agreeing to continue trade talks in pursuit of a deal by July 21, a Canadian spokeswoman said.
Elsewhere, Thursday's jobs report from the Labor Department takes the economic spotlight this week. Further, the stock market is closed for the July 4 holiday.
Economists expect the unemployment rate will rise to 4.3%, a four-year high, in the June jobs report, due Thursday. Forecasters also see a 115,000-job gain in nonfarm jobs, with the private sector adding 125,000 jobs and government shedding 10,000.
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Dow Jones Futures Today: Oil Prices, Treasury Yields
On Monday, the Dow Jones Industrial Average rallied 0.6%, or 275 points, while the S&P 500 and Nasdaq both climbed 0.5% to reach more record highs.
Ahead of Tuesday's opening bell, Dow Jones futures, along with S&P 500 futures and tech-heavy Nasdaq 100 futures, were little changed. 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 lower to 4.23%. And oil prices eased, as West Texas intermediate futures settled near $65 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.
