Dow Jones futures were higher late Monday ahead of key Russia-Ukraine ceasefire talks on Tuesday. Treasury yields paused as US oil prices plummeted on Monday. Stocks of Dow Jones tech titans Apple and Tesla are rapidly approaching buy points.
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Amid a strengthening uptrend in stock markets, investors have the green light to steadily increase their exposure by buying top stocks that break out past the right buy points. You can find stock ideas by monitoring IBD’s proprietary watchlists, such as the IBD 50 and the IBD Big Cap 20.
stock market today
On Monday, the Dow Jones Industrial Average was up 0.3%. The S&P 500 gained 0.7% and the tech-heavy Nasdaq Composite rose 1.3%. The S&P 500 extended a winning streak to three sessions. Among exchange-traded funds, Nasdaq 100-tracker Invesco QQQ Trust (QQQ) was up 1.55% and SPDR S&P 500 ETF (SPY) was up 0.7% on Monday.
Overview of today’s US stock market | ||||
|---|---|---|---|---|
| index | symbol | price | loss of gain | % To change |
| Dow Jones | (0DJIA) | 34955.23 | +93.99 | +0.27 |
| S&P500 | (0S&P5) | 4575.49 | +32.43 | +0.71 |
| Nasdaq | (0NDQC) | 14354.90 | +185.60 | +1.31 |
| Russell 2000 | (IWM) | 206.18 | +0.06 | +0.03 |
| IBD 50 | (FFTY) | 39.74 | +0.15 | +0.38 |
Last updated: 4:50 PM ET 3/28/2022 | ||||
Among Dow Jones executives Apple (AAPL) rebounded 0.5% and Microsoft (MSFT) was trading down 2.3% on the exchange today. UnitedHealth, a Dow Jones stock to watch, remains range bound after a recent breakout.
Market leader in electric vehicles Tesla (TSLA) rose more than 8% on Monday after the company announced plans to split its shares.
Amid the volatile, headline-driven market, IBD Leaderboard stocks Arista Networks (A NET), Broadcom (AVGO), CVS Health (CVS), European Wax Center (EWCZ) and Regeneron Pharma (REGN) are Monday’s top stocks to buy and watch.
Microsoft and Tesla are IBD Leaderboard stocks. Arista is an IBD SwingTrader stock. Apple was featured in this week’s ‘Stocks Near a Buy Zone’ column. European Wax Center was last week’s IPO stock of the week.
Dow Jones Futures Today: Oil Prices, Treasury Yields, Russia-Ukraine Talks
After Monday’s close, Dow Jones futures were up 0.1% from fair value, while S&P 500 futures were slightly higher. Nasdaq 100 futures fell 0.1% from fair value. Keep in mind that overnight action in Dow futures and elsewhere doesn’t necessarily translate to actual trading in the next regular trading session.
The US 10-year Treasury yield fell to 2.47% on Monday, holding its highest level since May 2019 after Friday’s rally. US oil prices fell more than 9% on Monday as crude oil fell from West Texas Intermediate traded below $104 a barrel. Energy giant Dow Jones rafters (CVX) is down nearly 2% but remains well above the 20% to 25% profit-taking range from a 113.21 entry of a cup basis.
Ceasefire talks between Russia and Ukraine, scheduled to take place in Istanbul, Turkey, are set to begin Tuesday morning. Earlier talks between the foreign ministers of Russia and Ukraine ended without agreements on a ceasefire or other humanitarian issues.
stock market rally
The stock market posted positive results Monday as the Nasdaq and S&P 500 closed with solid gains. For more daily stock market commentary, see IBD’s The Big Picture column.
Friday’s The Big Picture column commented: “Also encouraging?
If you are new to IBD, you should take a look at the CAN SLIM stock trading system and basics. Recognizing chart patterns is a key to investing guidelines. IBD offers a wide range of growth stock lists, such as Leaderboard and SwingTrader.
Investors can also create watch lists, find companies approaching a buy point, or develop custom screens at IBD MarketSmith.
Four Dow Jones stocks you should be watching right now
Dow Jones Stocks To Buy And Watch: UnitedHealth
Managed care giant UnitedHealth shows a buy point of 500.10 with a grip entry on a double bottom basis. Shares ended Monday in a buying range above their last entry after the session’s slight gain.
On an optimistic note, the stock’s line of relative strength is near new highs, indicating a significant outperformance from the stock market.
Four top growth stocks to buy and watchRde Stock market rally
Stocks to buy and watch: Arista, Broadcom, CVS, European Wax, Regeneron
IBD SwingTrader stock Arista Networks is range-buying above the buy point of a double bottom at 133.97, according to IBD MarketSmith charts. Shares rose 0.7% on Monday.
Chip giant Broadcom rose 0.6% on Monday as it continues to build the right side of a new cup base. The actual buy point of the cup base is 677.86, but a more aggressive entry at 614.74 is in play.
Last week’s IPO leader, European Wax Center, is back below a buy point of 31.59 on a double bottom after shares reversed early gains to fall 1.4% on Monday. The 5% buy range goes until 33.17.
Latest IBD stock of the day CVS Health continues to build a flat base with a buy point of 111.35. CVS shares pared losses to 0.5% on Monday.
Biotech leader Regeneron Pharmaceuticals remains range bound above a flat entry of 673.96 after a breakout move on Mar 16th. REGN shares tested the buy point on March 23 before regaining the buy point on March 24. REGN shares rose 2% on Monday. The 5% buy zone is at 707.66.
Join IBD experts as they analyze leading stocks from the current stock market rally on IBD Live
Tesla stock
Tesla shares rose 8% Monday after the company announced it will ask shareholders to vote at this year’s annual meeting to approve additional shares to allow for a stock split. The electric vehicle maker’s last 5-for-1 stock split took place in August 2020.
The stock traded as low as 1,243.49 on Nov. 4 but ended just 12% below that all-time high on Monday.
Dow Jones Leaders: Apple, Microsoft
Among Dow Jones stocks, Apple shares rebounded from sharp losses to gain 0.5% on Monday. Ahead of the market opening, Nikkei Asia reported that the company plans to cut production of its iPhone SE and AirPods due to weaker than expected demand.
After that gain, Apple stock is within striking distance of the buy point of a double bottom at 176.75 after decisively reclaiming its 50-day moving average last week. The relative strength line is just below new highs, which is a key technical indicator of strength. The RS line should make a new high on the breakout day to confirm Apple stock as the leader.
Software leader Microsoft rose 2.3% on Monday as shares convincingly regained their 200-day moving average. A new base is taking shape.
Follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones Industrial Average.
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