The Dow Jones Industrial Average and other major indexes ended the day with modest gains Monday, as investors brushed off the newest tariff talk from President Donald Trump. Meanwhile, Palantir Technologies rallied to a new high and was a big S&P 500 winner on the stock market today.
The Dow Jones Industrial Average ended the day 0.2% higher while the S&P 500 gained 0.1%. The Nasdaq composite proved slightly stronger with an increase of 0.3%, enough to close at a new high.
Small caps on the Russell 2000 outperformed the major indexes, and climbed nearly 0.7%.
Volume was modestly lower on the Nasdaq exchange and slightly higher on the New York Stock Exchange compared with Friday, in preliminary numbers. On the Nasdaq exchange, rising stocks edged out falling ones by around 5-to-4. On the NYSE, losers slightly beat winners.
The 10-year Treasury yield inched up to 4.43% Monday. Oil prices fell around 2.2% to around $67 a barrel. Bitcoin climbed past $119,900 in recent action.
The second-quarter earnings season is about to get underway. Investors should be cognizant of when their holdings will be reporting results, as stocks can have big unexpected swings in either direction with earnings reports. Make sure to follow risk management rules to protect profits.
3:44 p.m. ET
Palantir Stock Hits New High
Palantir Technologies powered up nearly 5% and reached a record high on the stock market today. A member of Investor's Business Daily's IBD 50 and IBD Big Cap 20 lists, Palantir is extended from a 133.49 buy point. The stock has nearly doubled so far this year.
Palantir scores a best-possible 99 IBD Composite Rating and 98 Earnings Per Share and Relative Strength Ratings.
Elsewhere, big banks are some of the first that will kick off the second-quarter earnings season on Tuesday.
JPMorgan Chase, Citigroup, BlackRock and Wells Fargo all report results Tuesday morning. All four were up a fraction ahead of their earnings reports late Monday.
2:39 p.m. ET
Trump Losing Patience With Russia
President Donald Trump now looks to hit Russian trade partners with huge tariffs as a punishment for the ongoing Russia-Ukraine war, according to CNBC.
Trump wants a ceasefire between Russia and Ukraine by September. Otherwise, stiff tariffs will go into affect.
"We're going to be doing very severe tariffs, if you don't have a deal in 50 days, tariffs at about 100%, they call them secondary tariffs," Trump said at the White House.
Stock Market Today: Nebius Jumps
Netherlands-based Nebius Group spiked around 16% on the stock market today.
The jump came after Goldman Sachs initiated coverage on the artificial intelligence infrastructure stock with a buy rating and a 68 price target. The Nvidia-backed name has climbed nearly 84% so far this year.
Meanwhile, IBD 50 and IBD Leaderboard name Nvidia was relatively flat and holding just below its record high. Nvidia is maintaining the $4 trillion market capitalization level after first reaching it last Wednesday intraday. Shares are extended from the 153.13 buy point of a consolidation.
Autodesk bolted more than 5% higher as the company will not be pursuing the purchase of PTC. Both stocks have seen wild swings, as rumors of the acquisition started swirling last Wednesday. Autodesk bounced off its 200-day line Monday, and is sitting on its 50-day line.
Engineering stock PTC fell nearly 2% Monday in a three day sell-off, after the stock rallied 17.6% last Wednesday on the speculation.
1:15 p.m. ET
Stocks On The Move: Lab Products Stock Plunges
Waters Corp. plunged nearly 12% in enormous volume, on news the lab tool maker will combine with a business unit of Becton Dickinson.
Waters stock knifed below its 50-day line and fell further under its 200-day line. The life sciences lab and industrial products stock was the biggest loser on the S&P 500 Monday.
Becton Dickinson fared better, but still lost around 1%. The medical supply stock has declined around 23% so far this year, and holds a dismal IBD Relative Strength Rating of 9 out of 99 possible.
IBD 50 name Rocket Lab soared 7.5% and reached a new high on the stock market today. Citigroup raised its target price to 50 from 33 and held its buy rating on the rocket and spacecraft stock. Rocket Lab has gained around 63% year to date and has a 99 Relative Strength Rating.
Fastenal was up 2% after the company modestly topped second-quarter earnings and sales estimates. Shares are in the buy zone of a long consolidation pattern with a 42.44 buy point. The industrial supply stock reached a new high on the stock market today before retracing.
11:37 a.m. ET
New Issue Stocks On The Move
While the major indexes were nearly unchanged, these new issues were on investors' buy lists.
IBD Leaderboard watchlist name CoreWeave jumped nearly 5% after two harsh days of selling. Shares found support at their 50-day moving average, but remain below the 21-day exponential moving average.
Recent initial public offering Hinge Health surged nearly 4% and is extended from an IPO base with a 43.80 buy point.
IBD 50 and Leaderboard watchlist stock Circle Internet Group also rose nearly 4%. Circle had plunged 7.7% Friday.
10:47 a.m. ET
Stock Market Today: Bitcoin Names Rally
Meanwhile, bitcoin names were big movers on the stock market today as the cryptocurrency reached a new high overnight ahead of legislation on the table at "Crypto Week." Bitcoin stood just above the $120,800 level in recent action.
Green bitcoin miner Iren popped more than 7% in heavy volume, wiping out Friday's 4.7% drop. The IBD 50 stock's rapid move higher earned it an "ants indicator" on its MarketSurge chart.
Bitcoin miner CleanSpark boosted 2.3% higher. Bitcoin stock Strategy jumped 2.6% and Coinbase Global gained 0.9%.
Outside of bitcoin names, Kenvue reversed to go 0.8% lower in heavy volume, after initially jumping on news the health products maker announced its new interim chief executive, Kirk Perry, effective immediately. Kenvue also released weak preliminary second quarter results.
The stock tested its 50-day and 200-day moving averages, before slicing under them. Kenvue brands include Benadryl, Band-Aid and Tylenol.
9:39 a.m. ET
Treasury Yields Move Up
The 10-year Treasury yield moved up to 4.43% Monday morning. Oil prices rose to around $68.55 a barrel.
Among exchange traded funds, the Invesco QQQ Trust dipped a fraction. The SPDR S&P 500 ETF was down 0.1% after the market open.
9:10 a.m. ET
Bitcoin Hits New High
The price of bitcoin briefly topped $122,000 before paring gains and trading around $121,800 in morning action.
Bitcoin stock Strategy jumped 2.6% in premarket action, further above a 430.35 cup-base entry. And Coinbase Global rallied 1.6%, eyeing new highs.
8:45 a.m. ET
Stock Market Today: Dow Jones Movers Apple, Boeing
Inside the Dow Jones Industrial Average, Apple and Boeing were among the blue chips that made early moves on the stock market today.
Apple stock dropped 0.8% in morning trading Monday, threatening to add to Friday's 0.6% decline. Boeing shares rallied 1.4% premarket, closing in on a new 52-week high.
8:01 a.m. ET
Tesla Stock Rallies
Electric-vehicle giant Tesla rallied 1.3% Monday premarket, on pace to extend a win streak to three sessions.
Tesla shares are rebounding from heavy losses in recent weeks that sent the stock tumbling through its 50-day and 200-day moving averages.
Stock Market Today: Trump Tariff News
Over the weekend, President Trump said that the U.S. will impose 30% tariffs on the EU and Mexico, starting Aug. 1, adding to the tariffs on many other countries. The tariff letters generally were roughly in line with the April 2 "reciprocal" tariffs that Trump paused for 90 days.
But Brazil, Canada and Mexico, spared on April 2, are getting big new duties now. Trump slapped a huge 50% tariff on Brazil on political grounds. Canada faces a 35% tariff, though reportedly with an exception for goods that fall under the U.S.-Mexico-Canada Agreement. It's unclear if Mexican goods that are part of the USMCA.
Earnings Season Picks Up, Inflation Data On Tap
Elsewhere, JPMorgan Chase, Netflix and Taiwan Semiconductor headline this week's earnings releases. Other anticipated earnings reports include Goldman Sachs, Bank of America, Johnson & Johnson and ASML.
Finally, investors will get the June Consumer Price Index inflation report on Tuesday and Producer Price Index inflation data on Wednesday. Core CPI inflation is expected to pick up to 3% vs. a year earlier, partly as tariffs feed their way into the data. Retail sales and several manufacturing-related reports also are on tap.
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.
And follow Kimberley Koenig for more stock market news on X, the platform formerly known as Twitter, @IBD_KKoenig.
