Dow Jones futures are little changed before Tuesday's opening. The week ahead is packed with earnings from tech giants such as Alphabet, parent company of Google (GOOGL), Amazon(AMZN), Meta Platforms, owned by Facebook (META), and Microsoft (MSFT). First Republic Bank (FRC), which reported earnings late Monday, plunged.
Cadence Design Systems and First Republic Bank also moved after their earnings late Monday. Cadence shares fell nearly 4% during extended trading, while First Republic Bank plunged up to 14%.
Earnings will be reported by Dow (DOW), 3M (MMM), General Electric, General Motors, General Motors (GM), Halliburton, McDonald's (MCD), PepsiCo(PEP), PulteGroup(PHM), Spotify and Verizon Communications.
Microsoft and Alphabet, the parent company of Google, will release their earnings late on Tuesday. Meta's earnings will be announced on Wednesday, after the close of the stock market. Amazon will report earnings on Thursday.
Stock Market Today
Chevron (CVX), one of the biggest winners, rose by 0.2% on Monday. CVX's stock rose 1.4%. The S&P 500 gained 0.1% while the tech-heavy Nasdaq Composite lost 0.3%.
Tesla, the leader in electric vehicles, traded lower by 1.5% on Monday. Apple (AAPL), a Dow Jones stock, rose by 0.2% today. Microsoft (MSFT), a Dow Jones stock, lost 1.4%.
Crocs, DraftKings, Las Vegas Sands and IBD SwingTrader are all stocks that you should be watching and buying with the current market rally.
This week, Stocks Near A Purchase Zone features Nike and DraftKings.
Dow Jones Futures Today - Oil Prices and Treasury Yields
Before Tuesday's opening bell was rung, Dow Jones, S&P500, and Nasdaq futures had not changed much compared to their overnight fair values. It's important to remember that overnight trading in Dow Jones and other markets may not translate into actual stock market activity the following regular session.
The yield on the 10-year U.S. Treasury fell to 3.51% on Monday. In the past two weeks, 10-year yields have recovered from their lowest levels since mid-September. U.S. crude oil prices increased Monday as West Texas Intermediate futures settled at just under $79 per barrel.
What to do in a Stock Market Rally
The Big Picture is a great column to read now that the stock market has been in an "uptrend confirmed" following continued gains.
The market is still in an uptrend despite Monday's calm. This means that investors can continue to buy stocks with a breakout. IBD recommends an exposure of 40% to 60%.
Check out "Near Pivot" and "Breaking Out Today", two useful IBD MarketSmith lists. The "Near Pivot" list shows stocks that are nearing the buy point in the base, while the "Breaking Out Today" list highlights stocks that have risen past the buy point during the session.
Check out IBD Stock lists, such as IBD 50, Big Cap 20, and. Check these features every day to identify bullish patterns, buy points, and other interesting information.
Dow Jones Stocks to Buy and Watch: JPMorgan Nike Visa
JPMorgan's shares rose slightly on Monday. They remained near the 144.44-point buy point for a flat base and were above the 50 day moving average. This is according to IBD MarketSmith pattern detection.
Nike shares gained 1.2% on Monday. They are still above the 50-day line, and nearing a cup with handle's 127.59 purchase point.
Visa shares are still in the buy range above the 230.15 cup with handle buy point. The range of buys goes up to 241.66. Visa releases its fiscal second quarter results on Tuesday.
Crocs and DraftKings are two of the best stocks to buy.
Crocs shares rose 2.7% on Monday, according to IBD MarketSmith. This extended a winning streak to seven sessions. They also finished above the 143.60 cup base buy point. The 5% range reached 150.78. The company will report its first-quarter results on Thursday.
Backstory: Broomfield-based Crocs, best known for their rubbery casual shoes, is headquartered in Colorado. In recent years, the company expanded its Crocs portfolio beyond classic slip-ons to include sneakers, wedges, boots and sandals. Crocs accounts for around 75%.
Last week, DraftKings surpassed the 21.72 cup-base buy point but lost it during Monday's drop of 2.55%. The top of the 5% zone is 22.81.
Backstory: Boston-based DraftKings offers daily fantasy sports games that allow users to win cash. According to a survey by the Pew Research Center, around 20% of U.S. adult respondents said they had bet on sports in one way or another in the past 12 months. DraftKings will report Q1 results on Thursday, May 4.
Las Vegas Sands, Lululemon
IBD Leaderboard Las Vegas Sands has moved above the 60.40 purchase point of a cup handle in Monday's 1.4% rise. The top of the buy zone was 63.42.
Backstory: Las Vegas Sands announced last week that it had surpassed earnings estimates for the first three months of this year and indicated a "robust" recovery in China's Macau gambling hub. The casino stock reported earnings of 28 cents, up from 40 cents in net losses a year earlier. Revenue soared by nearly 125%, to $2.12 Billion.
Lululemon, an IBD SwingTrader Stock, moved past a 371.36 entrant in a cup handle with a nearly 1% rise on Monday.
Lululemon raised its 2023 guidance on March 28 after exceeding earnings and revenue expectations for the fourth quarter holiday season. This sparked a 12.7% increase on March 29. The retailer of yogawear and athleisure clothing's final results for the fourth quarter also exceeded their own preliminary announcement from early January.
Tesla's stock fell 1.5% on Monday, reaching its lowest level since January 26. In recent weeks shares have triggered the loss rule of 7%-8% from a purchase point at 200.76 on a cup handle. They are also trading below their key 50-day line.
The stock price closed Monday at 55% below its 52-week peak.
Dow Jones Leaders - Apple and Microsoft
Apple stocks gained 0.2% on Monday. Apple shares are still above the 157.48 buying point, and the top of a range that goes up to 165.35.
Microsoft shares dropped by 1.4% on Monday, but they are still above the 276.86 purchase point of a flat-base. The 5% area is a rise from the buy-point to 290.70. Earnings will be released late on Tuesday.