Dow Jones futures, along with S&P 500 futures and Nasdaq 100 futures, traded little changed ahead of Tuesday's open. The stock market sold off Monday, as Wall Street reacted to Trump tariff news.
Circle Internet Group, Palantir Technologies, Tesla and Uber Technologies were big movers on the stock market Monday, as the Dow Jones Industrial Average tumbled more than 400 points.
Circle Internet jumped 9.9% Monday, further rebounding from heavy losses in recent weeks. Shares remain about 30% off their 52-week high. Meanwhile, IBD Leaderboard stock Palantir climbed 3.5%, extending a win streak to three sessions.
Tesla stock plunged nearly 7% Monday after Chief Executive Elon Musk planned to form a new political party. Musk made the move as he opposed Trump's tax-and-spending package. The electric-vehicle giant loses big tax credits in the so-called "big beautiful bill." Shares dived below their 50- and 200-day moving averages.
Finally, Uber shares rallied 3.3% Monday, decisively past a 93.60 buy point in a flat base. They are in buy range.
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Stock Market Today: Trump Tariff News
Midday Monday, President Donald Trump sent letters threatening tariffs of 25% or more to the leaders of Japan, South Korea and five other nations, turning up the heat on two close U.S. allies after months of trade talks have yet to seal a deal.
Ahead of the market open, Treasury Secretary Scott Bessent told CNBC Monday that several trade deals will be announced over the next 48 hours, but did not specify which countries would be involved. The news comes after Trump said he plans to send letters to various nations to notify them of various tariffs expected to go into effect Aug. 1.
Over the weekend, Trump said he'll send out "probably 12" letters on Monday to countries telling them what additional tariffs he'll impose unilaterally on their goods, as of Aug. 1. The president also has said he'll send out dozens of letters by Wednesday, July 9, the end of a 90-day pause for his "Liberation Day" tariffs.
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Dow Jones Futures Today: Oil Prices, Treasury Yields
On Monday, the Dow Jones Industrial Average sold off 0.9%, or 422 points, while the S&P 500 lost 0.8% and the Nasdaq declined 0.9%.
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 4.39%. And oil prices rose, as West Texas intermediate futures settled near $68 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.
