Dow Jones Futures: Fed Minutes Next, While Nvidia Earnings Loom

Dow Jones futures, along with S&P 500 futures and Nasdaq 100 futures, were little changed ahead of Tuesday’s open in overnight trade, as Fed minutes loom. Meanwhile, Nvidia (NVDA) earnings are due out late Tuesday.


It’s a quieter week on the economic front, with the stock market closed Thursday for Thanksgiving and a half-day of trading on Friday.

The highlights of the shortened week are Tuesday afternoon’s Fed minutes. The minutes are expected to provide insight into the Federal Reserve’s thinking on future interest rates.

Late Monday, Keysight Technologies (KEYS) and Zoom Video Communications (ZM) are key earnings movers.

KEYS stock rallied 2.5%, while Zoom Video shares jumped more than 4% in extended trade.

Stock Market Today: Dow Jones Rises

On Monday, the Dow Jones Industrial Average rose 0.6%, while the S&P 500 moved up 0.7%. The tech-heavy Nasdaq composite advanced 1.1%.

Electric-vehicle giant Tesla (TSLA) moved up 0.55% Monday, while stock market leader Nvidia gained 2.3%. Meanwhile, Dow Jones tech icons Apple (AAPL) and Microsoft (MSFT) traded higher in today’s stock market, with AAPL stock up 0.9% and Microsoft shares up 2.05%.

IBD Leaderboard stock Amazon (AMZN), along with MercadoLibre (MELI), IBD SwingTrader stock Shopify (SHOP) and Toll Brothers (TOL) — as well as Dow Jones stocks Microsoft, Salesforce (CRM) and UnitedHealth (UNH) — are among the best stocks to watch in the current market rally.

Salesforce and Shopify featured in this Stocks Near A Buy Zone column. Amazon and MercadoLibre are members of IBD Leaderboard.

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Dow Jones Today: Oil Prices, Treasury Yields

Ahead of Tuesday’s opening bell, Dow Jones futures, S&P 500 futures and Nasdaq 100 futures were little changed vs. fair value. 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 4.42%. Meanwhile, oil prices bounced, as West Texas Intermediate futures closed near $78 a barrel.

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Stock Market Rally: What To Do Now

Now is an important time to read IBD’s The Big Picture column, with the stock market outlook in a confirmed uptrend.

Following more bullish action last week, investors should be raising their market exposure. IBD recommends a level of 80% to 100%, as the trend continues to strengthen.

A great resource for daily breakouts is IBD MarketSmith’s “Breaking Out Today” list. It shows MarketSmith Growth 250 stocks that are breaking out past new buy points. Meanwhile, the MarketSmith “Near Pivot” list shows stocks nearing buy points in bases.

To find more stock ideas, check IBD Stock Lists, like IBD 50, Big Cap 20 and Stocks Near A Buy Zone. These features identify bullish patterns and buy points and should be checked every day.

Dow Jones Stocks To Watch

Software leader Salesforce is approaching a 228.79 buy point in a double-bottom base, according to IBD MarketSmith chart analysis. CRM stock is about 3% away from its latest buy point. Shares rose 1.7% Monday.

Health care giant UnitedHealth is adding a handle to a massive consolidation, and showing a new buy point at 546.78. UNH stock fell 0.2% Monday.

4 Top Growth Stocks To Watch In The Stock Market Rally

Stocks To Buy And Watch: Shopify Breaks Out

Amazon regained its cup base’s 145.86 buy point during Monday’s 0.65% gain. Shares remain above an early entry at 134.48.

IBD Leaderboard stock MercadoLibre moved out of a buy zone past a 1,398.59 buy point, according to IBD MarketSmith pattern recognition, after Monday’s 2.35% rally.

IBD SwingTrader stock Shopify is breaking out past a double bottom’s 67.60 buy point. The buy zone tops out at 70.98. SHOP stock rose 1.7% Monday.

Homebuilder Toll Brothers remains in buy range past a cup-with-handle’s 82.39 buy point in the wake of last week’s breakout move. The buy zone goes up to 86.51.

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Best Stocks In Today’s Stock Market Action

These are four best stocks to watch in today’s stock market, including a Dow Jones leader.

Company Name Symbol Correct Buy Point Type Of Buy Point
Amazon (AMZN) 134.48 Double bottom
UnitedHealth (UNH) 546.78 Handle entry
MercadoLibre (MELI) 1,398.59 Cup with handle
Nvidia (NVDA) 476.09 Double bottom
Source: IBD Data As Of Nov. 20, 2023

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Tesla Stock

Tesla stock rallied 0.55% Monday, as shares continue to face strong resistance around their 50-day line after retaking the 200-day line last week.

TSLA is around 20% off its 52-week high.

Dow Jones Leaders: Apple, Microsoft

Two Dow Jones stocks in the Magnificent Seven, Apple (AAPL) and Microsoft (MSFT), traded higher during today’s stock market trading.

Apple climbed 0.9% Monday, at its highest level since Aug. 5. Shares are above an early entry at 182.34, as they continue to trace a consolidation that has a 198.23 buy point.

Microsoft stock moved up 2.05% Monday, hitting an all-time high at 378.87. The stock is squarely in buy range above a cup base’s 366.78 buy point. In recent weeks, shares rose above an early buy trigger at 346.20.

Early Monday, the company announced former OpenAI chief Sam Altman will join Microsoft to lead a new advanced research team dealing in artificial intelligence.

Be sure to follow Scott Lehtonen on X/Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones Industrial Average.


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