Dow Jones futures, along with S&P 500 futures and Nasdaq 100 futures, traded little changed ahead of Tuesday's open after the Nasdaq composite hit a new all-time high Monday. Meanwhile, the new Apple iPhone event and key inflation data loom later this week.
Elsewhere, Astera Labs, Nvidia, Palantir Technologies, Robinhood and Tesla were big movers on the stock market.
Astera surged 13%, breaking out past an alternative buy point at 199.47. The 5% buy zone topped out at 209.44, so shares are already extended.
Nvidia stock rallied as much as 2.4% Monday before paring gains to 0.8%. Shares are trying to rebound from last week's losses that saw them close below their 10-week line for the first time since early May.
Palantir stock advanced 2% Monday, still closing below the 50-day line. Shares have battled for support around that key level since Aug. 20. A decisive retake of that line would be bullish for the stock's immediate prospects.
Robinhood soared nearly 16% after S&P Global announced that the trading platform, AppLovin and Emcor will join the S&P 500 index before the open on Sept. 22.
Finally, Tesla dropped 1.3% Monday, reversing lower after briefly topping a 355.39 handle entry. Shares also snapped a three-day winning streak.
Find The Next Palantir, Nvidia Or Hot IPO. Here's How.
Stock Market Today: New Apple iPhone, Inflation Data
Apple is expected to unveil its latest smartphone series, the iPhone 17 family, on Tuesday. The likely star of the show is the rumored ultrathin smartphone, the iPhone Air. Amid questions about smartphone prices, Apple is also widely expected to announce new models of the Apple Watch and AirPods wireless earbuds.
Apple stock broke out last week, topping a handle entry at 235.12.
This week's economic highlight is the August consumer price index, set to arrive Thursday. Economists expect a 0.3% rise in the core CPI – on the high side. But Friday's weak jobs report lowered the stakes. Meanwhile, the producer price index is due out Wednesday.
Last month, Federal Reserve Chair Jerome Powell said the risks of high inflation and unemployment were balanced. Now, risks to the job market seem to take precedence, so the outcome of the Sept. 17 Fed meeting likely won't hinge on the CPI reading.
Key earnings releases this week include AeroVironment, Adobe and Rubrik.
Here's How To Analyze Stocks Like Nvidia In Bull And Bear Markets
Dow Jones Futures Today: Oil Prices, Treasury Yields
On Monday, the Dow Jones Industrial Average rose 0.3%, or 114 points, while the S&P 500 moved up 0.2% and the Nasdaq composite climbed 0.5%.
Ahead of Tuesday's opening bell, Dow Jones futures, along with S&P 500 futures and tech-heavy Nasdaq 100 futures, traded 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 dropped to 4.04%, its lowest close since early April. And oil prices rose, as West Texas intermediate futures settled near $62.50 a barrel.
Nvidia Polishes Its Crown As Google, Amazon Do Battle
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 stocks breaking out 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. For example, Taiwan Semiconductor is approaching a 248.28 flat-base entry.
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.
