Dow Jones futures, along with S&P 500 futures and Nasdaq 100 futures, traded little changed ahead of Tuesday's open after the stock market ended mixed Monday. Meanwhile, Federal Reserve Chairman Jerome Powell's Jackson Hole speech looms Friday.
Elsewhere, Meta Platforms and Palantir Technologies were big movers on the stock market Monday, while Palo Alto Networks jumped on earnings late.
Meta stock sold off 2.3% after a mix of weekend news items offered an update on the company's metaverse ambitions, as well as new scrutiny for the tech giant's pricey AI efforts.
Finally, Palantir shares declined nearly 1%, extending a losing streak to four sessions. Shares hit a new high last week, topping out at 190.
Cybersecurity leader Palo Alto Networks jumped 5% in extended trading Monday after the company reported fiscal fourth-quarter earnings that topped estimates while revenue met Wall Street targets. The cybersecurity firm's fiscal 2026 guidance came in above expectations.
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Stock Market Today: Powell Speech Looms
Walmart and Home Depot will lead a slew of retail earnings reports this week.
But the economic highlight of the week is expected to be the annual Jackson Hole speech Friday morning from Fed chief Powell.
Powell in prior years has used the event to signal key policy changes. Markets will be looking to see if he confirms market expectations of Fed rate cuts.
The odds of a rate cut at the Fed's Sept. 17 meeting are around 85%, but that's down from a virtual lock before some hot inflation and economic data this past week. Investors are betting on another cut by year's end, with a decent chance of a third.
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Dow Jones Futures Today: Oil Prices, Treasury Yields
On Monday, the Dow Jones Industrial Average dropped 0.1%, or 34 points, while the S&P 500 inched lower and the Nasdaq composite edged up.
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 higher to 4.34%. And oil prices rose, as West Texas intermediate futures settled near $62.60 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. Notably, Stride rallied past a 161.31 handle entry.
Meanwhile, the MarketSurge "Near Pivot" list shows more stocks nearing buy points in bases. For example, Novartis is approaching a 124.83 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.
