The Dow Jones Industrial Average climbed Monday morning, looking to rebound from Friday’s stock market sell-off. Tech revenue will rise this week, with reports of Alphabet (GOOGL), Amazon.co.uk (AMZN), Apple (AAPL), Metaplatforms (META) and Microsoft (MSFT).
Alphabet and Microsoft will report on Tuesday. Meta Benefits are due out on Wednesday. Earnings from Amazon and Apple are Thursday.
You’re here (TSLA) fell almost 1% on Monday morning. Elsewhere, Dow Jones tech leaders Apple rose 0.2% and Microsoft lost 0.5% ahead of today’s stock market open.
In a volatile stock market on the rise, the leader of the Dow Jones UnitedHealth (UNH) — as well as elf beauty (ELF), Quantum Services (REP) and Mobility will see (VRRM) – are among the stocks to watch. Keep in mind that while the market has shown signs of strength on the upside, continued volatility is a reason to remain cautious.
UnitedHealth is an IBD ranking stock. Verra was featured in last week’s Stocks Near A Buy Zone column and was recently one of the IBD Stocks of the Day.
Dow Jones Today: Treasury Yields, Oil Prices
After Monday’s open, the Dow Jones industrials rose 0.3% and the S&P 500 0.2%. The tech-heavy Nasdaq composite was down 0.1% in morning trade.
Among exchange-traded funds, the Nasdaq 100 tracker Invesco QQQ Trust (QQQ) fell 0.1%. And the SPDR S&P 500 ETF (SPY) rose 0.15%.
The 10-year Treasury yield rose to 2.83% on Monday morning, rebounding from two consecutive losing sessions. On Friday, the 10-year Treasury yield hit its lowest level since late May. Meanwhile, US oil prices rebounded as West Texas Intermediate futures rose more than 1% to trade above $96 a barrel.
Stock market rally
The stock market posted disappointing action on Friday, with the Nasdaq taking the hardest hit, falling 1.9%.
Friday’s The Big Picture column commented: “Multiple distribution days rolled off Thursday which is positive for the incipient uptrend. Despite solid weekly gains for the indices, the uptrend remains under pressure. The indices are coping at resistance around the round numbers; 12,000 for the Nasdaq composite, 4,000 for the S&P 500 and 32,000 for the Dow Jones.”
If you are new to IBD, consider taking a look at its stock trading system and CAN SLIM basics. Recognizing chart patterns is one of the keys to investing guidelines. IBD offers a wide range of growth stock listings, such as Leaderboard and SwingTrader.
Investors can also create watchlists, find companies close to a buy point, or develop custom screens at IBD MarketSmith.
Five Dow Jones stocks to watch now
Dow Jones stocks to watch: UnitedHealth
Health insurance giant and IBD Leaderboard stock UnitedHealth is just above the buy point of 518.80 from its double-bottom base with a handle after Friday’s 0.2% loss, according to the report. chart analysis from IBD MarketSmith. Shares rose 1% on Monday.
UNH stock is posting a solid 95 out of a perfect IBD composite rating of 99, according to the IBD Stocks Balance Sheet. Investors can use the IBD Composite Rating to easily assess the quality of a stock’s fundamental and technical metrics.
4 growth stocks to watch in the currentrStock market rally
Top stocks to watch: ELF Beauty, Quanta, Verra
ELF Beauty is back below a buy point of 33.54 in a cup with handle after Friday’s 4.1% slip. The RS line hit a new high last week, which is a sign of big market outperformance. ELF shares rose 1.4% on Monday, after Stifel Nicolaus raised its price target from 29 to 34.
Quanta Services is putting the finishing touches on a mug base with handle that has a buy point of 138.56, according to chart analysis from IBD MarketSmith. Meanwhile, an early entry at 133.68 is also in play. The shares traded down nearly 2% in morning trading.
Verra Mobility continues to trade below a cup with the handle’s buy point of 16.83 following Friday’s 1% loss. The title’s RS line continues to show tremendous strength as it hit a new high last week. Verra shares rose 1% on Monday morning.
Join IBD experts as they analyze the top stocks of the current stock market rally on IBD Live
Tesla stock jumped 13.4% last week, fueled by strong earnings results Wednesday night. Stocks ended the week on an eight-day winning streak, and are at their highest level since early May.
Shares fell almost 1% on Monday morning.
Dow Jones Leaders: Apple, Microsoft
Among Dow Jones stocks, Apple shares slid 0.8% on Friday, but are closing in on their long-term 200-day lines. Stocks have recovered their 50-day line after bullish action in recent weeks. Apple’s results are due Thursday. The stock was trading up 0.2% on Monday morning.
Microsoft fell 1.7% on Friday, testing support around its 50-day line. The stock closed around 26% off its 52-week high. The software giant will release its quarterly results on Tuesday. Microsoft shares fell 0.5% on Monday morning.
Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen to learn more about growth stocks and the Dow Jones Industrial Average.
YOU MIGHT ALSO LIKE:
Top growth stocks to buy and watch
Learn to Time the Market with IBD’s ETF Market Strategy
Find the best long-term investments with IBD’s long-term leaders
MarketSmith: research, charts, data and coaching in one place
How to Research Growth Stocks: Why This IBD Tool Simplifies Finding the Best Stocks