Dow Jones futures, along with S&P 500 futures and Nasdaq 100 futures, traded little changed ahead of Tuesday's open.
Meanwhile, Apple, Nvidia and Tesla were big winners on the stock market Monday.
Apple stock rallied 4.3% Monday, moving further above a handle entry at 241.32 following Friday's breakout move.
Nvidia stock surged nearly 4% Monday after the AI chip leader announced plans to invest up to $100 billion in ChatGPT creator OpenAI. Shares topped an early entry at 180.28 and closed just shy of their flat-base entry at 184.48, per IBD MarketSurge.
Finally, Tesla stock raced nearly 2% higher, hitting its highest level since January. Shares are extended above a 367.71 buy point.
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Stock Market Today: Fed Inflation Data
The Fed's primary inflation gauge, the core personal consumption expenditures index, headlines the coming week's economic releases as Wall Street stays focused on the outlook for further rate cuts.
The core PCE price index comes out Friday. Economists expect a modest 0.22% increase, which would lift the 12-month core inflation rate to 3% from 2.9%, according to FactSet. Suspense is low since most inputs are released with the consumer price index and the producer price index. Meanwhile, economists expect personal consumption expenditures to rise 0.4% and personal income to grow 0.3%.
A slew of other economic news is also due, led by August existing home sales on Tuesday.
Elsewhere, key earnings reports this week include Micron Technology, Costco Wholesale and KB Home.
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Dow Jones Futures Today: Oil Prices, Treasury Yields
On Monday, the Dow Jones Industrial Average rose 0.1%, or 66 points, while the S&P 500 moved up 0.4% and the Nasdaq composite climbed 0.7%. All three set more record highs.
Ahead of Tuesday's opening bell, Dow Jones futures edged higher, while S&P 500 futures and tech-heavy Nasdaq 100 futures dipped a fraction. 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 4.14%, its highest level since Sept. 4. And oil prices eased, as West Texas intermediate futures settled near $62.30 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 stocks breaking out past correct entries. Check out the latest The 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, Shopify broke out past a 156.85 cup-base entry.
Meanwhile, the MarketSurge "Near Pivot" list shows more stocks nearing buy points in bases. For example, Howmet Aerospace is just shy of a 193.26 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.
