Futures: Stocks Surge; 3 Tech Titans Set To Report

Dow Jones futures were lower late after Monday’s stock market surge. NXP Semiconductors reported earnings late Monday, while tech titans Advanced Micro Devices, Alphabet and PayPal will report earnings after the close Tuesday.


On Monday, the Dow Jones Industrial Average climbed 1.2%, while the S&P 500 rose 1.9%. The tech-heavy Nasdaq composite soared 3.4%.

Among the Dow Jones leaders, Apple (AAPL) jumped 2.6% Monday, while Microsoft (MSFT) was up 0.9% in today’s stock market. American Express (AXP), a Dow Jones stock to watch, rallied 1.6% as it heads toward a new buy point.

Electric-vehicle leader Tesla (TSLA) surged 10.7% Monday after an analyst upgrade.

Among Monday’s top stocks to buy and watch, Baker Hughes (BKR), CF Industries (CF), Matson (MATX) and Vertex Pharmaceuticals (VRTX) are in or near new buy zones.

Matson, Microsoft and Tesla are IBD Leaderboard stocks. Vertex was featured in this week’s Stocks Near A Buy Zone column.

Dow Jones Today

After the stock market close Monday, Dow Jones futures, S&P 500 futures and Nasdaq 100 futures all dropped about 0.4% vs. fair value. Among exchange traded funds, the Nasdaq 100 tracker Invesco QQQ Trust (QQQ) rallied 3.2% Monday, and the SPDR S&P 500 ETF (SPY) moved up 1.9%.

U.S. Stock Market Today Overview

Index Symbol Price Gain/Loss % Change
Dow Jones (0DJIA) 35131.46 +405.99 +1.17
S&P 500 (0S&P5) 4515.45 +83.60 +1.89
Nasdaq (0NDQC ) 14239.88 +469.31 +3.41
Russell 2000 (IWM) 201.17 +5.92 +3.03
IBD 50 (FFTY) 37.89 +0.66 +1.77
Last Update: 4:46 PM ET 1/31/2022

The 10-year Treasury yield erased early gains, closing flat at 1.78% Monday. Oil prices climbed again, sending West Texas Intermediate more than 1% higher, to just above $88 a barrel — and right at a seven-year high.

Stock Market Rallies

The stock market posted strong gains in higher volume, a bullish day after the recent stock market weakness. After Monday’s stock market strength, now is an important time to read IBD’s The Big Picture column.

If you’re new to IBD, consider taking a look at its stock trading system and CAN SLIM basics. Recognizing chart patterns is one key to the investment guidelines. IBD offers a broad range of growth stock lists, such as Leaderboard.

Investors also can create watchlists, find companies nearing a buy point, or develop custom screens at IBD MarketSmith.

Five Dow Jones Stocks To Watch Now

Stock Market Earnings: NXP, AMD, Alphabet, PayPal

Dutch chipmaker NXP Semiconductors (NXPI) reported results late Monday, sparking a slight loss in extended trade. NXPI stock advanced 8.4% Monday. Meanwhile, AMD, Alphabet and PayPal will report after the close Tuesday.

Wall Street expects Advanced Micro Devices (AMD) to earn 76 cents per share on revenue of $4.52 billion. AMD shares closed Monday more than 30% off their 52-week high, even after rising 8.6% Monday to regain their 200-day line.

FANG stock Alphabet (GOOGL) is expected to report earnings per share of $27.65 on sales of $72.2 billion. GOOGL stock is riding its 200-day moving average line as it forms a new base.

Payments leader PayPal (PYPL) is expected to earn $1.12 a share on sales of $6.89 billion. PayPal shares are about 45% from their 52-week high.

Dow Jones Stocks To Watch: American Express

American Express decisively regained its 10-week moving average last week with an 11.5% advance. AXP shares are moving up the right side of a new base with a 189.13 buy point, according to IBD MarketSmith chart analysis. Be on the lookout for a potential handle to offer a more risk-optimal entry. Shares rallied 1.55% Monday.

Bullishly, the stock’s relative strength line is just shy of new highs following last week’s sharp ascent. A strong RS line, particularly during a weak overall market, indicates American Express is a stock to watch.

Four Top Growth Stocks To Watch In The Current Stock Market Weakness

Stocks To Watch: Baker, CF Industries, Matson, Vertex

Oilfield equipment leader Baker Hughes is just below a 27.76 cup-base buy point after Monday’s 1% gain.

Fertilizer producer CF Industries continues to trace an ascending base with a 74.87 buy point. Bullishly, the stock’s RS line hit a new high last week, indicating strong stock market outperformance. CF stock boasts a perfect 99 IBD Composite Rating, per the IBD Stock Checkup. The stock is about 8% away from the latest buy point following Monday’s 3.1% decline. Learn more about what’s driving investor interest in CF Industries in IBD’s New America.

Matson is back in buy range above a cup-with-handle buy point of 93.27 following Monday’s 0.5% dip. The 5% buy range tops out at 97.84. Its RS line hit a new high on the breakout, a bullish sign. Learn about Matson’s markets and competition in IBD’s Industry Snapshot.

New IBD Leaderboard stock Vertex Pharmaceuticals broke out past a 234.68 buy point Friday with a 6.5% surge, according to IBD MarketSmith chart analysis. Shares inched higher Monday but remain in the 5% buy range that runs up to 246.41.

Per Leaderboard analysis, Vertex just broke out of a first-stage bottoming base. Since November, Vertex has counted numerous instances of nice gains in above-average volume, a plus.

Join IBD experts as they analyze leading stocks in the current stock market correction on IBD Live

Tesla Stock

Tesla stock surged 10.7% Monday, adding to Friday’s 2.1% climb. Early Monday, Credit Suisse upgraded the stock from neutral to outperform with an unchanged price target of 1.025. The stock found much-needed support at its long-term 200-day moving average line. But Tesla shares remain sharply below their 50-day moving average line and there is no proper entry in sight.

The stock traded as high as 1,243.49 on Nov. 4, but ended Monday about 25% off that 52-week high.

Dow Jones Leaders: Apple, Microsoft

Among Dow Jones stocks, Apple stock advanced 2.6%, moving further above the key 50-day line after Friday’s decisive move. Shares are again about 14% past a 153.27 buy point out of a cup-with-handle base, according to IBD MarketSmith chart analysis. A new base is likely forming, but it is slightly too early for a new buy point.

Software leader Microsoft rose 0.9% Monday, as the top Dow Jones stock extended a win streak to four sessions after finding support at the 200-day line last week.

Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones Industrial Average.


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