The Dow Jones Industrial Average and other major stock indexes pared gains in recent trades Monday in the wake of President Donald Trump's bombing of Iranian nuclear facilities over the weekend. Cathie Wood stock Circle Internet rocketed, but Hims & Hers Health took a dive. Meanwhile, Tesla surged on the stock market today amid its robotaxi launch but energy stocks were muted.
The Dow Jones industrials came off early highs and were up marginally in recent action. Boeing and IBM fared best on the blue-chip index with gains of just over 1% and nearly 2%, respectively. Amgen and UnitedHealth lagged most, both dipping just over 1%.
The Nasdaq composite climbed 0.4%. DoorDash was a top performer, rising nearly 4% after it was upgraded to "strong buy" from "outperform" by Raymond James. Palantir Technologies also stood out with a lift of more than 2%.
Laggards on the tech-heavy composite included Grail and Marvell Technology. IPO stock Grail skidded almost 4% while Marvell slipped nearly 3%.
Stock Market Today: Consumer Discretionary Shines
The S&P 500 also faded but remained up 0.3%. The benchmark index's sectors were nearly all higher on the stock market today. The consumer discretionary and real estate sectors fared the best. Only energy and health care were in negative territory.
Northern Trust shined here, surging more than 7% after the Wall Street Journal reported that Bank of New York Mellon recently approached it to discuss a potential merger.
Laggards on the benchmark index included Super Micro Computer and Darden Restaurants, with both falling nearly 5%. Norwegian Cruise Line fared even worse, sinking nearly 7%.
Meanwhile, small caps were also giving up some of their early gains, with the Russell 2000 index up 0.3%. The index is trading just below its 10-day line and remains shy of its 200-day moving average.
Growth stocks were also higher. The Innovator IBD 50 exchange traded fund rebounded off its 21-day exponential moving average and rose 0.9%. The fund's rise for the year now sits at nearly 10%.
IBD 50 Stock Hims Droops On Novo Move
One stock that was getting eviscerated on the stock market today was IBD 50 stock Hims & Hers Health, though it may not remain on the list for long.
The telehealth firm — famed for its weight-loss, hair-loss and erectile-dysfunction treatments — was hit hard after Novo Nordisk ended their fledgling collaboration. Weight-loss giant Novo scotched their collaborative deal over worries about Hims' sales of cheaper versions of its cash-cow weight-loss drug, Wegovy.
In a media release, the firm said it took the move due to "deceptive promotion and selling of illegitimate, knockoff versions of Wegovy that put patient safety at risk."
More information on the story can be obtained here.
Hims stock plummeted nearly 30%. It is on track for what could be its biggest percent decrease on record, according to Dow Jones data. It gapped below its 50-day moving average, according to MarketSurge analysis. This triggered a key sell signal.
Novo itself was down nearly 6% on the stock market today. It fell after test results for its next-generation obesity drug, CagriSema, showed no clear advantages vs. Eli Lilly offering Zepbound. The Danish company is down more than 19% so far this year.
10:57 a.m. ET
Tesla Stock Surges Amid Robotaxi Rollout
Tesla stock was making early progress following the launch of its robotaxi — a driverless vehicle powered by artificial intelligence — in Austin, Texas, over the weekend. Wedbush analyst Dan Ives hailed the service Sunday, calling it a "very impressive" experience.
"Going into it, we expected to be impressed but walking away from it, all there is to say is that this is the future. We took two approximately 15-minute rides around Austin and the key takeaways are that it was a comfortable, safe, and personalized experience," he said in a note to clients. "The ride itself was completely smooth, and it was indistinguishable that the car was driverless as there was never a moment in the vehicle where we felt as if it did something irrational."
He also said that the launch "is really just the beginning of the Tesla AI story." Ives reiterated his outperform rating and 500 target on the stock.
Tesla Chief Executive Elon Musk also seemed happy with how the debut went.
""Super congratulations to the Tesla AI software and chip design teams on a successful robotaxi launch!! Both the AI chip and software teams were built from scratch within Tesla," he said on X.
However, only a handful of Tesla Model Y vehicles are currently involved in the program, which is limited to a geofenced area of Austin.
Tesla stock surged nearly 7% on the stock market today, pulling away from its 50-day and 200-day moving averages in the process, MarketSurge analysis shows. It remains shy of a potential early entry of 367.71.
Stock Market Today: Energy Stocks Muted
Energy stocks were mixed following the strike on Iran over the weekend.
The big fear at the moment is an attempt by the Islamic country to close the Strait of Hormuz. Around 20% of global oil consumption flowed through the strait last year. It connects the Persian Gulf with the Gulf of Oman and the Arabian Sea.
More than 80% of oil and gas that moves through the area is delivered to Asian markets. China, India, Japan, and South Korea were the top destinations, according to the Energy Information Administration.
The price of oil was little changed in early trade, with West Texas Intermediate inching higher to just over $74 per barrel while Brent also slightly higher to more than $77.
Chevron and ExxonMobil rose marginally but ConocoPhillips slipped slightly. TotalEnergies and Shell inched higher but BP gave up slight ground.
The SPDR S&P Oil & Gas Equipment & Services exchange traded fund and the SPDR S&P Oil & Gas Exploration & Production ETF fell less than 1%.
Cactus popped more than 1%, Warren Buffett stock Occidental Petroleum and Hess were fractionally positive. Equipment play TechnipFMC dropped nearly 1%, but remains extended past a 32.90 entry.
8:57 a.m. ET
Cathie Wood Stock Circle Keeps Climbing
Cathie Wood holding and stablecoin leader Circle, a recent initial public offering, surged nearly 80% last week. Shares jumped another 5% in premarket trading Monday. Circle stock is on the IBD Leaderboard watchlist.
Tesla stock gained 1.5% premarket Monday after the company provided robotaxi rides to an invite-only group of Tesla fans for a flat rate of $4.20 per ride in Austin, Texas over the weekend. All rides came with a human "safety monitor" in the passenger seat.
8:12 a.m. ET
Stock Market Today: Trump Orders Iran Bombings
President Trump announced late Saturday on Truth Social that the U.S. bombed three Iranian sites, thus committing the U.S. military to Israel's war effort.
"We have completed our very successful attack on the three Nuclear sites in Iran, including Fordow, Natanz, and Esfahan." Trump said. He added, "NOW IS THE TIME FOR PEACE!"
Trump addressed the nation briefly shortly after 10 p.m. ET.
"Our objective was the destruction of Iran's nuclear enrichment capacity and a stop to the nuclear threat posed by the world's No. 1 state sponsor of terror," Trump said. "If peace does not come quickly, we will go after those other targets with precision, speed and skill."
In economic news this week, key releases include the Federal Reserve's primary inflation rate and weekly jobless claims. The personal income and outlays report for May, out Friday from the Bureau of Economic Analysis, includes the core Personal Consumption Expenditures price index.
The PCE is expected to rise a tame 0.14% on a monthly basis, though the Fed's key gauge of core inflation is expected to tick up to 2.6% on a 12-month basis, according to economists polled by FactSet. Jobless claims are due out Thursday.
More than a few important names have earnings due in the coming week: Micron Technology, FedEx, Nike, Carnival among others.
Tesla, Broadcom Recharge This Elite List Of 17 Stocks
Dow Jones Leader JPMorgan Above Buy Point
Elsewhere, Dow Jones banking giant JPMorgan Chase is in a 5% buy zone past a 269.52 buy point in a handle entry in recent sessions, MarketSurge chart analysis shows. Shares dipped 0.3% in premarket trading Monday.
Meanwhile, financial leader Cboe Global Markets is approaching a 236.02 entry in a flat base. Cboe stock inched lower in premarket trades Monday.
Finally, Nvidia is rapidly nearing a 153.13 entry in a cup base that started forming in early January. Nvidia stock dropped 0.8% in early action Monday.
The ongoing stock market uptrend provides a bullish setting for raising exposure, but investors still need to watch for volatility. Investors should buy stocks with a 21-day average true range, or ATR, of up to 8%. But they should be wary of being too concentrated in high-octane names.
Check out IBD MarketSurge's "Breaking Out Today" list for top growth stocks that are moving above correct buy points. Investors also can find potential breakouts on the "Near Pivot" list. Further, to find additional stock ideas, check IBD Stock Lists like IBD 50, Big Cap 20 and Stocks Near A Buy Zone.
Nvidia And Microsoft Battle For Supremacy In This Arena
Be sure to follow Scott Lehtonen on X at @IBD_SLehtonen for more on growth stocks, the Dow Jones Industrial Average and the stock market today.
