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 lower Monday. Up next, Wall Street braced for Tuesday's early release of the consumer price index.
Elsewhere, CoreWeave, Micron Technology and Tesla were big movers on the stock market Monday.
CoreWeave surged nearly 8% Monday, closing right at its key 50-day moving average line. Earnings are due out Tuesday after the market close. The lockup period for CoreWeave stock tied to the company's initial public offering expires Thursday, earlier than usual.
Micron shares climbed 4.1%, rallying up the right side of a cup base that has a 129.85 buy point, after the memory-chip maker raised its guidance for the current quarter.
New IBD Leaderboard stock Tesla raced 2.9% higher Monday, extending a win streak to four sessions. Tesla broke out over a trendline and its recent high of 338, placing the electric-vehicle giant in a new buy area.
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Stock Market Today: CPI Inflation Data Next
Dow Jones networking giant Cisco Systems leads this week's blue-chip earnings roster. Defense play Elbit Systems and a handful of heavy-duty China-based names led by Tencent also report.
New inflation readings arrive Tuesday with the July consumer price index and Thursday with the producer price index.
After the rate of inflation ticked up in June, the question is whether it can resume its longer-term easing trend. Tariffs so far haven't led to price spikes, but more are now in place. Consensus CPI estimates see a 0.2% increase for the month and a 2.8% rise year over year. Core CPI is seen up 0.3% on the month and 3% annually, Econoday says.
Wholesale prices are expected to be up 0.2% from June and up 2.6% annually. Core PPI also is seen up 0.2% for July, up 3% year over year.
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Dow Jones Futures Today: Oil Prices, Treasury Yields
On Monday, the Dow Jones Industrial Average dropped 0.5%, or 200 points, while the S&P 500 and the Nasdaq composite both lost 0.3%.
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 4.27%. And oil prices edged up, as West Texas intermediate futures settled near $64 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.
