The Dow Jones Industrial Average and other indexes fell Monday despite President Donald Trump making a China tariff move. Tesla cleared an entry on the stock market today while Nvidia and Advanced Micro Devices closed mixed after news of a chip-revenue pact with the U.S. government. AMC Entertainment popped while C3.ai cratered.
The Dow industrials finished 200 points lower, or by 0.5%. Salesforce dropped the most by losing 3.3%. International Business Machines and Caterpillar also struggled, down 2.5% and 1.9%, respectively. But 3M and UnitedHealth were out in front here, leading with respective gains of 1.3% and nearly 1%.
The Nasdaq composite reversed lower, ending down 0.3% and away from its record-high close set on Friday. The S&P 500 finished Monday lower by 0.3%. The market benchmark had started the week above its short-term and major moving averages.
Electronic Arts and Intel were among the strongest performers, rising 7% and 5%, respectively. Intuit paced decliners with a 5.7% slide.
Stock Market Today: Sector Winners And Losers
Eight of the S&P 500's 11 sectors finished lower on the stock market today. Energy and real estate were hit the hardest. Consumer staples, consumer discretionary, and health care moved higher.
Media play TKO was the benchmark's strongest performer. It jumped more than 10% after inking a $7.7 billion seven-year deal with Paramount Skydance to air Ultimate Fighting Championship matches in the U.S. In contrast, Paramount stock fell close to 4%. Albemarle was also a big advancer, surging 7%.
Volume was mixed, falling on the New York Stock Exchange but rising on the Nasdaq vs. Friday, according to preliminary data.
Small caps had flirted with positive territory, but the Russell 2000 index eventually slipped fractionally. The index's 50-day moving average had just cleared its 200-day line, a bullish technical maneuver known as the "golden cross."
Growth stocks fared well initially, but the bears pounced late, causing the Innovator IBD 50 exchange traded fund to finish the day down 0.3%. The fund is nearing the top of its buy zone above a 32.93 entry.
The 10-year Treasury yield dipped one basis point to 4.28%. Oil prices added a fraction with West Texas Intermediate futures trading at just over $64 per barrel.
Stock Market Today: C3.ai Stock Craters
Some cynics have said just sticking the letters "AI" on a stock's name is enough to make it rocket higher.
But that was not the case for C3.ai, which lost around a quarter of its value on the stock market today.
The AI software maker fell nearly 26%, losing even more ground on its 50-day moving average and its 200-day line.
Those who held the stock after it previously flashed sell signals are now nursing even bigger losses. It is now down around 64% from its mid-December high of 45.08.
C3.ai stock was hammered after the company forecast revenue of $70.2 million to $70.4 million for its fiscal first quarter, below the midpoint of its prior guidance of $100 million-$109 million. Its outlook for an adjusted operating loss of $57.7 million to $57.9 million was worse than its previous projection.
D.A. Davidson downgraded C3.ai stock from neutral to underperform, saying the preliminary results "came in significantly below guidance."
President Trump Makes China Tariff Move
President Donald Trump has signed an executive order to prevent higher U.S. tariffs being levied on Chinese goods for another 90 days.
A White House official told CNBC the order was signed hours before midnight. The move will allow talks to carry on between U.S. and Chinese trade negotiators. The trade truce between the world's two largest economies was set to expire Tuesday.
Treasury Secretary Scott Bessent has been acting as point man for America in the ongoing negotiations. The tariff pause was already expected as Bessent had previously said he had "the makings" of a deal with China.
Meanwhile, Trump also said Monday that the U.S. won't apply tariffs on imports of gold. He moved to clarify matters after the Customs and Border Protection agency ruled gold bullion was subject to reciprocal tariffs. "Gold will not be Tariffed!" he said in a Truth Social post.
Nvidia, AMD Slip After Trump Deal
Nvidia and Advanced Micro Devices ended lower after spending some time in positive territory. The stocks initially fell following reports that the tech heavyweights cut a deal with the Trump administration to secure export licenses to sell their artificial intelligence chips to the Chinese market. They obtained those licenses last week.
They have agreed to give the U.S. government 15% of China chip sale revenue. Trump said at a news conference Monday that he had originally wanted 20%.
He said he "negotiated a little deal" with Nvidia Chief Executive Jensen Huang and that the company is "selling an essentially old chip."
Nvidia had not shipped its H20 AI chip to China "for months" but hopes "export control rules will let America compete in China and worldwide," the company said in a statement to The Associated Press.
"America cannot repeat 5G and lose telecommunication leadership," Nvidia said. "America's AI tech stack can be the world's standard if we race."
Nvidia stock fell 0.3% on the stock market today. The Leaderboard stock is above its 25% profit target from a 145 entry. AMD also fell 0.3% but has been finding support at the 10-day moving average, according to MarketSurge analysis.
1:09 p.m. ET
ELF Jumps From The Shelf On This Bullish Call
ELF Beauty soared 12% on the stock market today, easily enough to make it a top performer.
It was boosted by a bullish call by Morgan Stanley analyst Dara Mohsenian. In a note to clients, she hiked the stock from equal-weight to overweight and raised its price target from 114 to 134.
Consensus earnings estimates for the stock are "way too low considering potential profit contribution far above street/consensus expectations," according to Mohsenian.
At the moment, Wall Street sees earnings falling 36% to $5.99 per share before rebounding with 11% growth next year. It has been hit due to worries over the impact of China tariffs on the company.
She also sees the acquisition of Rhode, the beauty line founded by model and socialite Hailey Bieber, as a potential catalyst.
ELF acquired the company for $1 billion in May. The move was made to allow the company to reach a higher-income consumer.
The stock gapped down to the 200-day line last week after EPS fell 19% to 89 cents. While it is rebounding after getting support at this longer term benchmark, it remains stuck below the 50-day line.
12:12 p.m. ET
AMC Surges After Report But Note These Issues
Meme stock AMC Entertainment surged, but came off highs for the day, after its results for the second quarter came in above Wall Street views.
The firm lost 1 cent per share, which was better than analyst views of a loss of 6 cents.
Revenue climbed 36% to $1.4 billion, which was comfortably clear of expectations of $1.34 billion.
However, the fact remains that AMC is expected to lose 65 cents per share this year, with a loss of 30 cents per share seen in 2026.
Those following the IBD methodology will be looking for equities that are profitable. Ideally, they will also have earnings that are growing by an average of 25% over the past three quarters.
The entertainment play has an IBD Composite Rating of 29, a sign of poor overall performance.
The stock price has also been declining in 2025, with AMC stock down more than 24% so far this year.
AMC is slated to hold its earnings call after the close today.
12:12 p.m. ET
Stock Market Today: Tesla Clears Buy Point
One stock that was flourishing on the stock market today was electric vehicle maker Tesla.
The equity, which is also a play on robotics and artificial intelligence, rallied more than 4%.
It cleared an early buy point as it broke above a trendline near 330.
This was enough to win the company, led by tech entrepreneur Elon Musk, a spot on the prestigious IBD Leaderboard list of top stocks.
In addition, the stock has formed a consolidation with a conventional entry of 367.71, MarketSurge analysis shows. It is pulling away from its short-term and major moving averages.
However, overall performance is not ideal, with its IBD Composite Rating sitting at 59 out of 99.
The stock rallied after the company submitted a request for an electricity license to the British energy regulator Ofgem. This would allow it to supply power to British homes.
According to the BBC, it takes up to nine months for Ofgem to process applications for energy supply licenses
Morgan Stanley also recently reiterated an overweight rating on Tesla stock with a 410 price target.
11:05 a.m. ET
AI Stock CoreWeave Jumps On This Call
Cloud infrastructure play CoreWeave was outperforming on the stock market today.
It popped after JPMorgan maintained its overweight rating on the AI stock while hiking its price target from 66 to 135.
Analyst Mark Murphy cited an "ongoing shortage in global AI capacity coupled with the huge ramp in demand to continually push frontier models forward."
He also believes the company's opportunities are "going to get bigger and lumpier."
However, Murphy also warned investors CoreWeave stock is likely to be extremely volatile, which means it is not an ideal option for weak holders.
The call came ahead of the company's quarterly earnings report, which is due late Tuesday.
CoreWeave stock rallied close to 8%. It now faces resistance at the 50-day moving average, according to MarketSurge analysis.
It could be in the process of forming a new base. The IPO stock is a member of the IBD Leaderboard Watchlist.
9:09 a.m. ET
Dow Jones Movers: UnitedHealth, Apple
Inside the Dow Jones Industrial Average, UnitedHealth Group, Honeywell, Goldman Sachs and Apple were among the early movers.
UnitedHealth rallied 1% premarket Monday, looking to add to Friday's 2.5% gain. Honeywell shares gained 0.6%, while Goldman stock moved up 0.7% early.
On the downside, Apple shared slipped 0.6%, threatening to snap a three-day win streak that saw the stock regain its 200-day line.
8:36 a.m. ET
Stock Market Today: Tesla Looks To Extend Win Streak
Tesla rallied 1.8% Monday morning, on pace to extend a win streak to four sessions. On Friday, the stock regained its 200-day moving average for the first time since late July.
Now shares are approaching an early buy trigger at 338, the high price on July 21, within a base that began in late May.
8:16 a.m. ET
Micron Jumps On Increased Outlook
Micron Technology surged 5.6% premarket Monday after the company raised its current quarter guidance, saying it now "reflects improved pricing, particularly in DRAM, and strong execution."
Shares of Micron are approaching a cup base's 129.85 buy point.
8:06 a.m. ET
Stock Market Today: Nvidia, AMD Slide
Nvidia and Advanced Micro Devices declined 0.7% and 1.7%, respectively, Monday after they agreed to give the U.S. government 15% of China chip sale revenue, according to The Financial Times and later Bloomberg News. The AI chipmakers reportedly agreed to this arrangement with the Trump administration to secure export licenses to sell their artificial intelligence chips to the Chinese market. They obtained those licenses last week.
Nvidia stock hit a record high last week, while AMD is just 5% off its 52-week high.
Cisco, CoreWeave Set To Report
Dow Jones networking giant Cisco Systems leads this week's blue chip earnings roster. Hot new issue CoreWeave, defense play Elbit Systems and a handful of heavy-duty China-based names led by Tencent also report.
Stock Market Today: Inflation Data On Tap
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 0.3% increase for the month and a 2.7% rise year over year. Core CPI is seen up 0.2% on the month and 2.9% annually, Econoday says.
Wholesale prices are expected to be flat from June and up 2.3% annually. Core PPI also is seen flat for July, up 2.6% year over year.
Ford is scheduled to make an announcement on its EV production strategy just after 10 a.m. ET this morning. CEO Jim Farley has said the announcement will mark a "Model T moment" for the company.
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.
Also, follow Michael Larkin on X at @IBD_MLarkin for more analysis of growth stocks.
