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Stock market today; Dow Jones Rises as Tesla Rises on China News; Nvidia’s new buying point




Stock market today;  Dow Jones Rises as Tesla Rises on China News;  Nvidia's new buying point

Dow Jones futures and other major stock indexes rose Monday Tesla (TSLA) rose following news reports that Beijing has given preliminary approval for the electric car giant to launch its fully self-driving car in China. In the meantime, Nvidia (NVDA) looked at a new buy point in the stock market today.


Dow Jones futures rose 0.2% from fair value in premarket action, while S&P 500 futures rose 0.3%. Tech-focused Nasdaq 100 futures rose 0.4% before the opening bell.

Early Monday, the yield on ten-year government bonds fell to 4.63%. Further, oil prices fell as West Texas Intermediate futures traded around $83.20 per barrel.

Among US exchange-traded funds, the Nasdaq 100 tracker is Invesco QQQ Trust ETF (QQQ) rose 0.5%, while the SPDR S&P 500 ETF (SPY) gained 0.3%.

According to the Wall Street JournalTesla will deploy its autonomous driving services based on mapping and navigation functions from the Chinese technology giant Baidu (BIDU).

The partnership removes a major regulatory hurdle for Tesla to offer its driver assistance system there. Rolling out FSD in China would help Tesla compete with major Chinese automakers that already offer advanced driver assistance systems.

Tesla shares rose more than 14% in premarket trading and are set to regain the 50-day line for the first time since early January.

Trade show today: Fed Meeting

The Federal Reserve’s two-day meeting will certainly be in the spotlight this week when it begins on Tuesday, but there are a number of key economic reports for investors to keep an eye on.

The latest consumer confidence figures will be released on Tuesday, while the ADP employment report is expected on Wednesday. But the most important report will be the April jobs report on Friday. Analysts expect the US economy to have created 250,000 new jobs, down from the previous month. Analysts see the unemployment rate stable at 3.8%.

Monday’s major earnings reports include Domino’s Pizza (DPZ), About semiconductor (ON) And SoFi technologies (SOFI).

Shares of Domino’s rose more than 4% in early trading, while shares of On rose 0.7%. And SoFi shares lost nearly 5% in premarket action.

Other major earnings reports this week include Magnificent Seven members Apple (AAPL) And Amazon (AMZN).

Be sure to learn how to adapt to changing market conditions, with IBD’s new exposure levels.

Dow Jones rises

On Friday, the Nasdaq index rose 2%, while the S&P 500 rose 1%. The Dow Jones Industrial Average rose a modest 0.4%.

Friday’s The Big Picture column noted: “Keep in mind that just because the picture improves doesn’t mean you should recklessly increase exposure. Gradually increase your exposure by buying leading stocks that come from good charts are coming.”

This is an important time to read Investor’s Business Daily’s The Big Picture column amid the continued action in the stock market. Be sure to learn how to adapt to changing market conditions, with IBD’s new exposure levels.

Learn how to time the stock market with IBD’s ETF market strategy

Best stocks to watch in the stock market today

Chipotle Mexican Grill (CMG), Dexcom (DXCM), Texas Roadhouse (TXRH) And Tradeweb Markets (TW) – plus Dow Jones component American Emphatic (AXP) – are among the best companies to watch in the stock market today.

Tradeweb was featured in this Stocks Near a Buy Zone column.

An essential resource for everyday breakouts is IBD MarketSurges “Breaking Out Today” list. It shows MarketSurge Growth 250 stocks breaking past new buy points. Also, the MarketSurge “Near Pivot” list shows stocks that are near buy points in fundamentals.

For more stock ideas, check out IBD stock lists such as IBD50, Large hood 20 and stocks near a buy zone. These features identify bullish patterns and buy points and can be checked every day.

Get real-time buy and sell alerts on stock market leaders with the IBD Leaderboards

Dow Jones: American Express

American Express bounces back in heavy volume after support around the 50-day moving average. The bullish recovery put the software leader in new buying territory as shares rose above 231.69 in a short consolidation. Shares rose 0.6% on the stock market today.

4 top growth stocks to watch Stock market correction

Outside the Dow Jones Industrial Average, Chipotle rose another 2.4% on Friday to finish further above a 3,023.98 buy point in a short consolidation, according to IBD market wave. Chipotle shares rose 1% before the open on Monday.

Texas Roadhouse is just above the 157.12 buy point of a flat base. The stock rose 1.6% on Monday.

Tradeweb remains below its 50-day moving average as it forms a flat base with a 108.04 buy point. Shares traded higher on Monday.

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Stock market today: companies to watch

These are four stocks in or near buy zones in today’s stock market.

Company Name Symbol Correct purchase point Purchase point type
American Express (AXP) 231.69 Consolidation
Texas Roadhouse (TXRH) 157.12 Flat base
Chipotle (CMG) 3,023.98 Consolidation
Tradeweb Markets (TW) 108.04 Flat base
Source: IBD data as of April 22, 2024

Join IBD experts as they analyze the top stocks in the stock market today on IBD Live

Beautiful seven stocks: Nvidia

Beautiful seven shares Nvidia (NVDA) fell during Monday’s premarket action.

Nvidia shares rose 6.2% on Friday, regaining the 50-day moving average line in heavy volume. Consolidation has created a new buy point at 974, while aggressive investors can use an entry at 906.13 as an early entry.

Dow Jones Leaders: Amazon, Apple, Microsoft

Among the Dow Jones stocks in the Magnificent Seven, Amazon, Apple and Microsoft (MSFT) was trading higher ahead of Monday’s stock market open.

Amazon shares bullishly regained their 50-day mark on Friday, rising 3.4%. The stock rose 1.4% in early trading Monday.

Apple shares lost 0.4% on Friday, snapping a four-day winning streak. Shares remain about 15% below their 52-week high. Apple rose 2.6% on the stock market today.

Microsoft rebounded 1.8% in Friday’s action following the company’s earnings results. The software giant is fighting to regain its 50-day line. Shares fell 0.2% on Monday.

Make sure you follow Scott Lehtonen on X, formerly known as Twitter, at @IBD_SLehtonen to learn more about growth stocks, the Dow Jones Industrial Average, and the current stock market.


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