Dow Jones, S&P 500, and Nasdaq 100 futures showed minimal change prior to the stock market opening on Tuesday. Notably, Nvidia and Tesla stocks saw a significant rebound, while Apple shares experienced a slight increase following its iPhone 16 launch event.
Late on Monday, Oracle saw a surge of over 6% after reporting better-than-expected earnings and sales for their fiscal Q1 results. The stock is currently in the process of forming a flat base with a buy point of 146.59.
Both Nvidia and Tesla rebounded by 3.5% and 2.6% respectively, but are still below their 50-day moving averages. Apple’s stock inched higher after unveiling new product upgrades and specifications at its recent event.
Economic focus for the week includes the consumer price index for August and the producer price index on Thursday. Earnings reports are expected from companies like Adobe, GameStop, and Kroger.
The previous day saw a 1.2% increase in the Dow Jones Industrial Average, S&P 500, and Nasdaq composite. Stocks to watch include Costco Wholesale, Meta Platforms, Netflix, Taiwan Semiconductor Manufacturing, and Uber Technologies.
Key Dow Jones components worth monitoring are Amazon, Apple, Home Depot, IBM, and Microsoft. Oil prices and treasury yields are also factors to consider in the current market environment.
It is crucial to stay informed by reading daily market analysis, such as IBD’s The Big Picture column. Additionally, utilizing tools like IBD’s Stock Screener and following lists like IBD 50, Big Cap 20, and Stocks Near A Buy Zone can help identify potential bullish patterns and buy points.
Stocks like Meta Platforms and Alphabet from the Magnificent Seven group showed diverging performances on Monday. Amazon, Apple, and Microsoft also had mixed results, with Amazon attempting to stabilize around its 200-day line.
Overall, staying updated on market trends and stock movement is essential for making informed investment decisions.
