On Monday, the Dow Jones Industrial Average rose 0.2%. The S&P 500 rose 0.5%, while the Nasdaq led the way with a rise of 0.9%.
Among the leaders of the Dow Jones, Apple (AAPL) fell less than 0.1% in today’s stock market, while American Express (AXP), Goldman Sachs (GS) and JPMorgan Chase (JPM) considered new buying points in the current rally.
Tesla (TSLA) jumped nearly 13% on Monday to hit more records.
Among companies reporting profits, Facebook (FB) topped profit targets on Monday night, while Advanced micro-systems (AMD) et Microsoft (MSFT) will report after the close on Tuesday.
Among the best stocks to buy and watch, Cleveland Cliffs (CLF), Nvidia (NVDA) and Olaplex (OLPX) are in or near new shopping areas.
Microsoft, Olaplex and Tesla are stocks in the IBD ranking. Nvidia was featured in this week’s Stocks Near A Buy Zone story, while Cleveland-Cliffs was Friday’s IBD stock for the day.
Dow Jones Futures Today
After the stock market closed on Monday, Dow Jones futures, as well as S&P 500 futures, were up 0.2% from fair value. Futures contracts on the Nasdaq 100 gained 0.4% from fair value. Keep in mind that trading futures contracts on Dow Jones and elsewhere does not necessarily translate into actual trading in the next regular trading session.
Snapshot of the US Stock Market Today
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Last Modified: 4:42 PM ET 10/25/2021
Among exchange-traded funds, Innovator IBD 50 (FFTY) rose 1.55% on Monday. The Nasdaq 100 tracker Invesco QQQ Trust (QQQ) gained 1%. And the SPDR S&P 500 ETF (SPY) rose 0.5%.
Stock exchange rally
The stock rally strengthened on Monday, as the Dow 30 and S&P 500 hit all-time highs, while the Nasdaq recovered from Friday’s moderate loss.
Stock ETF strategy and how to invest
For daily stock market commentary, be sure to check out The Big Picture from IBD.
The Big Picture commented on Friday, “The Nasdaq and the S&P 500 have made three consecutive weekly gains. Last week, the Nasdaq rose 1.3% and the S&P 500 rose almost 1.7%. For the month of October, the Nasdaq is up 4.4% and the S&P 500 is up 5.5%.
Five best Dow Jones stocks to watch right now
Dow Jones stocks to buy and watch: Amex, Goldman, JPMorgan
American Express finished in the 5% buy zone above a buy point of 178.90 in a handle cup on Monday, according to graphical analysis from IBD MarketSmith. Shares lost 2.55% on Monday.
Goldman Sachs is a striking distance from a buy point of 420.86 on a flat basis after Monday’s 0.1% rise. Meanwhile, JPMorgan remains at the top of the 5% buy zone after entering 163.93 in a grip cup amid a recent rebound on the 50-day moving average. The 5% buy zone peaks at 172.13. JPM stock was down 0.5% on Monday.
American Express and Goldman Sachs both have strong relative strengths. A strong relative strength line at the start of a new uptrend indicates a potential market leader.
Dow Jones Profits: Microsoft
Software giant Microsoft fell 0.3% ahead of Tuesday’s results. Stocks remain in the buy range above its last buy point. The flat base had a buy point of 305.94 and the 5% buy area caps at 321.24.
The blue chips will publish their results on Tuesday evening. Analysts expect the company to earn $ 2.08 per share on revenue of around $ 44 billion.
On Monday evening, social media giant Facebook released its quarterly results. The company earned $ 3.22 per share on sales of $ 29 billion, beating profit expectations but missing revenue estimates. Facebook shares gained around 1.5% in extended trading.
Facebook shares fell more than 5% on Friday following disappointing earnings and advice from rival Break (BREAK). The Facebook stock is testing its 200-day long-term moving average. Shares reversed from initial losses to rebound 1.3% on Monday, ending the session just above its long-term 200-day line.
Stocks to buy and watch: AMD, Cleveland-Cliffs, Nvidia, Olaplex
Advanced Micro Devices broke a buy point of 114.59 on a double bottom basis last week – according to IBD MarketSmith’s chart analysis – and is now extended after Monday’s 2.1% rise. The results are expected Tuesday after the close.
According to IBD Stock Checkup, AMD enjoys a Perfect IBD Composite Rating of 99. The IBD Composite Rating identifies stocks with a mix of strong fundamental and technical characteristics.
Friday’s IBD action Cleveland-Cliffs is quickly approaching a buy point of 26.61 in a cut base amid Monday’s 6.6% rise. Meanwhile, the stock triggered a new entry on Friday’s abrupt return above its 50-day moving average. According to the analysis of the day’s action: “The movement of high volume beyond its 50 day line, as well as a break above the downtrend line from the intraday high of the day. CLF action from August 13 of 26.51, offered investors an early entry point. “
IBD SwingTrader Nvidia stock is trying to break above the buy point of 230.53 for a second consecutive session. NVDA shares briefly passed the entry on Friday before closing below. The stock rose nearly 2% on Monday, closing just above the buy point. Positively, the title’s relative strength line is close to new highs, reaffirming title leader status.
IBD Leaderboard Olaplex stock closed in the 5% buy zone on Monday after a base IPO entry at 27.84. Shares reversed nearly 3% lower on Monday, but remain above the entry. The buy zone peaks at 29.23. According to ranking analysis, it also cleared an aggressive trendline entry near 27.
Join the IBD experts as they analyze the major stocks in the new uptrend in the stock market on IBD Live
Donald Trump SPAC plonge
Digital World Acquisition – a special purpose acquisition company, or SPAC, merging with Trump Media & Technology Group – plunged 11% on Monday, reversing lower and restoring part of Friday’s 107% rise. DWAC stock rose about 4% on extended trades. Last week, former President Trump announced his intention to launch a social media company called Truth Social. There will also be a subscription video-on-demand service called TMTG +.
A PSPC, also known as a blank check company, is an alternative to a traditional initial public offering. These blank check companies have no assets beyond cash. They trade on the stock exchange and then merge with private companies, making those companies public.
Tesla stock jumped 12.7% on Monday, reaching a valuation of $ 1,000 billion after car rental giant Hertz ordered 100,000 Tesla vehicles for its fleet. Meanwhile, Morgan Stanley raised its price target on Tesla from 900 to 1,200, citing higher volume expectations after the company’s third quarter report.
Tesla CEO Elon Musk on Sunday tweeted that the company’s full self-driving software, FSD Beta 10.3, “saw problems”, then the company reverted to Beta 10.2. But then early Monday it tweeted that FSD Beta 10.3.1 was “deploying now”.
The stock hit new highs on Monday, trading as high as 1,045.02. TSLA stocks are well above a buy point of 764.55 in a handle cup, as well as earlier entries at 700.10 and 730.
Dow Jones Executives: Apple
Among the major stocks in the Dow Jones, Apple lost 0.1%, adding to Friday’s 0.5% loss.
A new cup base is forming with a buy point of 157.36, according to graphical analysis from IBD MarketSmith. Be on the lookout for a potential handful to provide a more optimal entry in terms of risk.
Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen to learn more about growth stocks and the Dow Jones Industrial Average.
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