Dow Jones futures, along with S&P 500 futures and Nasdaq 100 futures, were higher ahead of Tuesday's stock market open. Stock market leader Coinbase rocketed nearly 17% Monday, while Magnificent Seven stock Alphabet tumbled below a key support level.
Coinbase stock soared Monday, rebounding from recent weakness that triggered a sell signal from a 187.39 cup-base entry. Meanwhile, bitcoin jumped nearly 5% Monday, trading around $54,600, per CoinDesk.
Late Monday, key earnings movers were Trex, Unity Software, Workday and Zoom Video Communications.
Trex stock jumped more than 8% in extended trade. Trex is an IBD Leaderboard stock.
Unity shares plunged 19%, while Workday shares lost 6.6%. And Zoom stock advanced 10% in late trading.
Stock Market Today: Google Slides
On Monday, the Dow Jones Industrial Average moved down 0.2% and the S&P 500 slipped 0.4%. The tech-heavy Nasdaq composite dropped 0.1%.
Among the Magnificent Seven stocks, Google stock was the biggest loser, down 4.4%. And Tesla snapped back from Friday's drop with a near-4% rally.
Finally, Dow Jones tech icons Apple and Microsoft traded lower in today's stock market, with Apple stock down 0.75% and Microsoft 0.7%.
Birkenstock, Lennar, SharkNinja, Toll Brothers and Weatherford — plus Dow Jones components Disney, Dow and Procter & Gamble — are among the best stocks to buy and watch on the stock market today.
Disney and Weatherford were featured in this Stocks Near A Buy Zone column.
Dow Jones Today: Oil Prices, Treasury Yields
Ahead of Tuesday's opening bell, Dow Jones futures rose 0.1%, while S&P 500 futures were up 0.15% vs. fair value. Nasdaq 100 futures gained 0.3% vs. fair value. 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 rose to 4.29%. Meanwhile, oil prices continue to hold near their recent highs, as West Texas intermediate futures settled around $77.50 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, with the stock market outlook in a confirmed uptrend. Following Monday's action, be sure to check out today's The Big Picture for an updated exposure level.
A great resource for daily breakouts is IBD MarketSmith's "Breaking Out Today" list. It shows MarketSmith Growth 250 stocks that are breaking out past new buy points. There was one breakout today, namely Dream Finders Homes. The homebuilder is breaking out past a 37 buy point in a cup base.
Meanwhile, the MarketSmith "Near Pivot" list shows stocks nearing buy points in bases, like Qualcomm. Qualcomm is approaching a 157.98 flat-base entry.
To find more stock ideas, check IBD Stock Lists, like IBD 50, Big Cap 20 and Stocks Near A Buy Zone. These features identify bullish patterns and buy points and should be checked every day.
Dow Jones: Disney, Dow, P&G
Disney is forming a big cup-with-handle base with a 112.92 buy point, according to IBD MarketSmith chart analysis. Shares traded about 5% below the new buy point.
Consumer products giant Procter & Gamble declined 0.3% Monday, falling further below a 158.38 buy point in a cup base.
Following last week's gains, chemicals giant Dow is in buy range past a 55.90 buy point in a flat base.
4 Top Growth Stocks To Watch In The Stock Market Rally
SharkNinja In Buy Range
Birkenstock is trying to break out past a choppy cup-with-handle's 51.09 buy point, according to IBD MarketSmith, with a 1.9% drop Monday. Earnings are due out Feb. 29.
Homebuilder Lennar remains just below its flat base's 156.01 buy point amid Monday's 0.6% fall.
Fellow homebuilder Toll Brothers is moving further above a flat base's 105.91 buy point, with a 1.1% rally Monday.
Wednesday's IBD Stock Of The Day, SharkNinja, is breaking out past a flat base's 53.40 buy point, as it rallied 1.6% Monday. The buy zone runs up to 56.07.
Oil stock Weatherford remains in buy range above a 102.65 buy point in a cup base, despite a 0.7% drop Monday. The 5% buy range tops out at 107.78.
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Best Bets On Stock Market Today
These are four best stocks to watch in today's stock market, including a Dow Jones leader.
| Company | Symbol | Correct buy point | Type of buy point |
|---|---|---|---|
| Novo Nordisk | 105.69 | Flat base | |
| Merck | 119.65 | Cup base | |
| DraftKings | 39.35 | Cup base | |
| Spotify | 202.88 | Flat base |
Source: IBD Data As Of Feb. 12, 2024
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Magnificent Seven Stocks: Nvidia, Tesla
Among Magnificent Seven stocks, Nvidia climbed 0.35% and Tesla rallied 3.9% Monday.
Nvidia shares continue to hold just off last week's record highs. They closed more than 50% past a 505.48 buy point in a flat base after a Jan. 8 breakout move.
Tesla rebounded from Friday's losses, ending just shy of its recent highs.
Dow Jones Leaders: Apple, Microsoft
Among Dow Jones stocks in the Magnificent Seven, Apple and Microsoft traded lower Monday.
Apple is forming a flat base with a buy point at 199.62. But Apple stock must first retake the key 50-day moving average, as it searches for support around its long-term 200-day line.
Microsoft shares remains out of buy range past a 384.30 buy point in a flat base, despite a 0.7% fall Monday.
Be sure to follow Scott Lehtonen on X/Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones Industrial Average.
