The Dow Jones Industrial Average and other major indexes traded higher, as investors reacted President Donald Trump’s comments on Mexican and Canadian tariffs. Meanwhile, Nvidia (NVDA) and Tesla (TSLA) were early winners on the stock market today.
Ahead of the opening bell, Dow Jones futures rose 0.5% vs. fair value, as S&P 500 futures gained 0.4%. Tech-heavy Nasdaq 100 futures moved up 0.5% vs. fair value in morning trades.
↑
X
Stocks Surge Into Trump 2.0; Viking Holdings, ServiceNow, Amazon.com In Focus
The 10-year Treasury yield ticked lower to 4.57% early Tuesday. And oil prices declined more than 2%, with West Texas Intermediate futures trading around $76.05 per barrel.
Among exchange traded funds, the Invesco QQQ Trust (QQQ) rose 0.5%, as did the SPDR S&P 500 ETF (SPY) ahead of the open.
Nvidia bounced another 0.6% Tuesday morning, looking to add to Friday’s 3.1% rally. Shares are looking to retake their 50-day moving average, a key level to watch.
Electric-vehicle giant Tesla raced more than 2% higher Friday. Shares appear to be finding support around their 10-week line, and they may be forming a new base. Tesla stock moved up another 2.3% in premarket action Tuesday.
Nvidia Investors Should Closely Watch These 3 Telltale Clues
Stock Market Today: Trump Tariffs Loom; Netflix Earnings Next
On Monday night, Trump commented that he was thinking about imposing 25% tariff hikes on Canada and Mexico on Feb. 1. His omission of China may relate to TikTok’s uncertain status, after a law took effect on Jan. 19 banning the app unless it had been sold by China-based ByteDance.
In stocks, 3M (MMM), Charles Schwab (SCHW) and D.R. Horton (DHI) were key earnings movers Tuesday morning.
Shares of 3M rallied more than 3% in premarket trading, on pace to move above a 141.34 flat-base entry. Brokerage Charles Schwab jumped 5.4%. And homebuilder D.R. Horton surged 4.6% in early morning trade.
After the market close Tuesday, Netflix (NFLX) is anticipated to report its fourth-quarter earnings report. Netflix stock closed Friday below its 50-day line, a key level to watch.
Apple Keeps This Crown, But Gets Tarnished Alongside Nvidia
Dow Jones Rallies
Markets were closed Monday for the Martin Luther King holiday. On Friday, the Dow Jones Industrial Average gained 0.8%, while the S&P 500 advanced 1% and the Nasdaq rallied 1.5%. Following last week’s bullish action, now is a good time to check IBD’s The Big Picture for an update on the current exposure level.
Among the best companies to watch in the current stock market are Broadcom (AVGO), Howmet Aerospace (HWM), Meta Platforms (META) and Spotify (SPOT).
Along with Apple (AAPL) and Nvidia, Dow Jones components making notable moves were Amazon.com (AMZN), Microsoft (MSFT) and Walmart (WMT).
Meta and Walmart are featured in this Stocks Near A Buy Zone column.
Check out IBD MarketSurge‘s “Breaking Out Today” list for top growth stocks that are moving above correct buy points. Check for potential breakouts on the “Near Pivot” list. To find additional stock ideas, check IBD Stock Lists like IBD 50, Big Cap 20 and Stocks Near A Buy Zone.
Despite Struggles, Palantir Secures Spot Among 25 ‘Perfect’ Stocks
Dow Jones: Walmart Eyes Buy Point
Dow Jones retail giant Walmart is building a flat base that offers a 96.18 buy point, according to MarketSurge pattern recognition. But it must first find support at the 50-day moving average. Shares added 0.2% Tuesday.
Outside the Dow Jones index, chip giant Broadcom rallied 3.5% Friday, about 6% below a 251.88 buy point in a flat base. Broadcom stock moved up 2% Tuesday premarket.
Howmet Aerospace is breaking out and in buy range above a 120.71 buy point in a flat base. Shares added 1.3% premarket Tuesday
Social media platform Meta is approaching a 638.40 buy point, as shares again find support around their 50-day line. And Meta stock rose 0.3% in Tuesday’s premarket trading.
And Spotify is just shy of a flat base’s 506.47 buy point following last week’s bullish move. Spotify stock boasts the RS Line Blue Dot from IBD. That confirms the music streaming giant as a market leader. Shares rose 0.8% Tuesday morning.
Nvidia, Apple And Tesla Highlight How To Handle The Stock Market Today
Stock Market Today: Companies To Watch
These are four stocks in or near buy zones in today’s stock market, including a Dow Jones leader.
| Company Name | Symbol | Correct Buy Point | Type Of Buy Point |
|---|---|---|---|
| Broadcom | (AVGO) | 251.88 | Flat base |
| Walmart | (WMT) | 96.18 | Flat base |
| Spotify | (SPOT) | 506.47 | Flat base |
| Meta Platforms | (META) | 602.95 | Flat base |
Source: IBD Data as of Jan. 20
AI-Fueled Energy Stock Has This Edge Over The Nvidias Of The World
Dow Jones Leaders: Amazon, Apple, Microsoft
Besides Nvidia, another Dow Jones component in the Magnificent Seven is Amazon stock, which rallied 2.4% Friday to move closer to a 233 buy point in a flat base. That’s a new buying opportunity for the e-commerce giant. It added 1.3% in premarket action Tuesday.
Shares of Apple bounced 0.8% Friday, still at their lowest level since mid-November. This week, they tumbled decisively below their 10-week line, a key sign of weakness. But they sold off nearly 2% early Tuesday after Jefferies downgraded the stock from hold to underperform and Loop Capital downgraded shares from buy to hold.
Microsoft shares gained 0.5% Tuesday morning, as they look to add to their bullish move above their 50-day line.
Be sure to follow Scott Lehtonen on X at @IBD_SLehtonen for more on growth stocks, the Dow Jones Industrial Average and the stock market today.
YOU MAY ALSO LIKE:
Check Out IBD’s New Exposure Levels To Help You Stay In Step With The Market Trend
Top Growth Stocks To Buy And Watch On The Stock Market Today
Learn How To Time The Market With IBD’s ETF Market Strategy
Find The Best Long-Term Investments With IBD Long-Term Leaders
Spot Buy Points And Sell Signals With MarketSurge Pattern Recognition
