Dow Jones futures, along with S&P 500 futures and Nasdaq 100 futures, were little changed ahead of Tuesday’s stock market open.
The price of bitcoin continued to slide Monday, closing under $94,000 for the first time since Nov. 26, according to CoinDesk. Bitcoin-related stocks, like Coinbase (COIN) and MicroStrategy (MSTR), sold off 3.8% and 8.8%, respectively. The price of bitcoin topped out at $106,734 on Dec. 17, per Dow Jones Market Data, using a 4 p.m. ET close.
↑
X
Nasdaq Leads To Start Holiday Week; Taiwan Semi, United Airlines, Twilio In Focus
Elsewhere, Nvidia (NVDA) chipmaker Taiwan Semiconductor Manufacturing (TSM) broke out Monday, moving past a 205.63 cup-with-handle buy point and closing in the 5% buy area that runs up to 215.91. TSMC was a recent IBD Stock Of The Day.
Taiwan Semiconductor, better known as TSMC, is the top producer of advanced computer chips. Its customers include AI-chip makers Broadcom (AVGO), Nvidia, Marvell Technology (MRVL) and Advanced Micro Devices (AMD).
Cracks Emerge In Nvidia’s AI Armor. What’s An Investor To Do?
Stock Market Today: Dow Jones Extends Win Streak
On Monday, the Dow Jones Industrial Average rose 0.2%, while the S&P 500 climbed 0.7% and the Nasdaq advanced 1%.
This holiday week’s economic calendar is light with new home sales due Tuesday. They are expected to bounce back from a hurricane-hit October, but pretty weakly, to a 665,000 annual pace, according to a consensus of economists polled by FactSet.
The stock market will be closed Wednesday for the Christmas holiday, with an abbreviated trading session on Tuesday.
This Non-Mag 7 Joins Nvidia, Google, Meta On Leaderboard As Tesla Lurks Enviously
Dow Jones Futures Today: Oil Prices, Treasury Yields
Ahead of Tuesday’s opening bell, Dow Jones futures, along with S&P 500 futures and tech-heavy 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 higher to 4.59%. And oil prices rose modestly, as West Texas Intermediate futures settled around $69.50 a barrel.
Nvidia, Apple And Tesla Highlight How To Handle This Market
Alphabet, Meta, Nvidia, Tesla Rally
The Magnificent Seven stocks, except for Microsoft (MSFT), all ended higher Monday, as the Roundhill Magnificent Seven (MAGS) ETF rallied 1.5%.
Alphabet (GOOGL) advanced 1.7%, just shy of last week’s new highs and back out of buy range beyond a 182.49 buy point in a cup with handle.
Meta Platforms (META) rebounded 2.5% Monday, snapping a four-day losing streak and finding much-needed support at the 50-day line. The social media giant is just below a 602.95 buy point.
Nvidia rebounded another 3.7%, extending a win streak to three sessions and closing right at its 50-day line, a key resistance level to monitor. If it can continue to make progress and move decisively clear of this level, that would be a bullish signal.
Tesla (TSLA) rose 2.3% Monday, ending a three-day skid. Last week, the Elon Musk-led company topped out at 488.54, about 84% above a 264.86 buy point in a cup with handle.
The ‘Apps’ Have It — So Do Palantir And 26 Other Stocks
What To Do Now
Now is an important time to read IBD’s The Big Picture column amid the ongoing stock market rebound. Following Monday’s session, be sure to check out today’s The Big Picture and today’s updated exposure level.
On Monday’s “IBD Live” show, the team discussed the current trading conditions of the stock market action. IBD maintains its recommended exposure level at 60%-80%.
Still, investors should be utilizing diligent risk management, one of the four pillars of The IBD Methodology. It’s important to monitor positions that are acting out of character and sell any stocks that trigger sell rules.
An essential resource for daily breakouts is IBD MarketSurge’s “Breaking Out Today” list. It shows MarketSurge Growth 250 stocks that are breaking out past buy points. Meanwhile, the MarketSurge “Near Pivot” list shows more 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 are available to check every day.
Be sure to follow Scott Lehtonen on X/Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones Industrial Average.
YOU MAY ALSO LIKE:
Top Growth Stocks To Buy And Watch
Learn How To Time The Market With IBD’s ETF Market Strategy
Find The Best Long-Term Investments With IBD Long-Term Leaders
Check Out IBD’s New Exposure Levels To Help You Stay In Step With The Market Trend
Spot Buy Points And Sell Signals With MarketSurge Pattern Recognition
