Dow futures decline ahead of Fed meeting minutes; Nvidia, 7 Best Stocks to Buy and Watch

Dow futures decline ahead of Fed meeting minutes;  Nvidia, 7 Best Stocks to Buy and Watch

Dow Jones futures fell Monday morning as Wall Street awaits more guidance from the Federal Reserve on its plans for future interest rates. Meanwhile, Nvidia stock tops our list of best stocks to buy and watch.


This week looks set to be quieter on the economic front, with the stock market closed Thursday for the Thanksgiving holiday and a half-day for Black Friday. But on Tuesday afternoon, the Federal Reserve is expected to release the minutes of its latest policy meeting. The minutes are expected to provide insight into the Fed’s thinking on future interest rates.

With earnings season winding down, key movers this week include: Baidu (Begins), Best buy (BBY), Derry (to), Keysight Technologies (keys), Cole (puss), Louie (low) and Zoom video communications (Zam).

Meanwhile, the tech giant Nvidia (NVDA) will submit its report after close on Tuesday.

Dow Jones Index Today: Oil Prices and Treasury Yields

Ahead of the opening bell on Monday, Dow Jones futures were down 0.1% versus fair value, while S&P 500 futures were lower. The tech-heavy Nasdaq 100 futures were trading at breakeven in morning action.

Among U.S. exchange-traded funds, the Nasdaq 100 Invesco QQQ Trust (QQQ) rose a fraction, while the SPDR S&P 500 ETF (SPY) lost 0.1% early Monday.

The yield on the 10-year US Treasury note rose to 4.48% on Monday morning. On Friday, the index settled at 4.44%.

Oil prices continued their rebound on Friday, with West Texas Intermediate futures up nearly 2% on Monday morning. WTI crude oil prices are trading above $77 per barrel.

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Stock market pool

On Friday, the Dow Jones Industrial Average rose, while the S&P 500 rose 0.1%. The Nasdaq Composite Index also rose 0.1%.

“November’s stock market rally is already the best since the pandemic bear market low,” his Big Picture column commented on Friday. “The Nasdaq just posted its biggest three-week advance since April 2020. For the S&P 500, it’s the best three-week stretch Weeks from May to June 2020, according to Dow Jones Market Data.

Now is an important time to read IBD’s “Big Picture” column amid the ongoing stock market rally. Be sure to read How to Invest During a Continuing Stock Market Uptrend.

Learn how to time the stock market with IBD’s ETF market strategy

Stock Market Today: Top Stocks to Watch

IBD Stock Leaderboard Amazon (AMZN), with Free market (MELI), Nvidia, and IBD SwingTrader Shopify (store) and Take care of the brothers (TOL) – as well as Dow Jones stocks Microsoft (MSFT), Sales force (Customer Relationship Management) and UnitedHealth (UNH) – Among the top stocks to watch in the current market rally.

MercadoLibre and Nvidia are featured in the column of stocks near this buy zone. Amazon and MercadoLibre are members of the IBD Leaderboard.

Get real-time buy and sell alerts on stock market leaders with the IBD Leaderboard

Dow jones stocks to watch

Software leader Salesforce is approaching a 228.79 buy point in a double-bottom base, according to IBD MarketSmith chart analysis. CRM stock is about 3% away from its last buy point. Shares fell early Monday.

Healthcare giant UnitedHealth adds a handle to the massive consolidation, showing a new buy point at 546.78. UN stock fell slightly on Monday.

4 Higher Growth Stocks to Watch in Stock market pool

Stocks to Buy and Watch: Shopify Takes Off

Amazon is close to reclaiming its 145.86 base buy point during Friday’s 1.65% gain. Shares remain above the early entry level of 134.48. AMZN stock was unchanged on Monday.

IBD Leaderboard MercadoLibre stock continues to trade in a buy zone after a buy point of 1,398.59, according to IBD MarketSmith Pattern Recognition, following Friday’s 1.5% loss. MELI stock rose 2% on Monday morning.

IBD SwingTrader Shopify stock is trying to break above the double bottom buy point at 67.60. Buy zone tops out at 70.98. SHOP stock rose 0.5% Monday morning.

Homebuilder Toll Brothers remains in a buy range above the cup-with-handle buy point of 82.39 following last week’s breakout move. Buy zone rising to 86.51. TOL stock rose 0.1% on Monday morning.

Top stocks in today’s stock market action

These are the four best stocks to watch in the stock market today, including Dow Jones stocks.

Company Name Code Correct point of purchase Point of purchase type
Amazon (Amzn) 145.86 Cup base
UnitedHealth (United nations) 546.78 Handling entry
Take care of the brothers (tulle) 82.39 Cup with handle
Free market (Millie) 1,398.59 Cup with handle
Source: IBD data as of November 20, 2023

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The 7 Great Stocks: Nvidia and Tesla

Among the so-called “Great Seven” stocks, Tesla TSLA stock rose 0.5% early Monday, while TSLA stock rose 0.5% early Monday. Nvidia (NVDA) shares rose by 0.7%.

Graphics chip giant Nvidia is in a buy range beyond entering the double bottom at 476.09 amid Friday’s 0.4% loss.

Tesla stock reversed from early losses to rise 0.3% on Friday. Stocks are facing strong resistance around the 50-day line after reclaiming the 200-day line last week. TSLA is down about 20% from its 52-week high.

Dow Jones leaders: Apple, Microsoft

Two Dow Jones stocks are in the Magnificent Seven zone, apple (Apple) and Microsoft (MSFT), was trading mixed before the stock market opened today.

Apple fell on Friday, still at its highest level since August 5. Shares are rising above the early entry level at 182.34, as they continue to track consolidation that has a buy point at 198.23. Apple shares fell another percentage on Monday.

Microsoft shares fell 1.7% on Friday, pulling back from all-time highs. The stock is holding above the 366.78 buy point of the cup base and in a buy range. In recent weeks, shares have risen above the early buy level of 346.20.

MSFT stock rose 1.4% on Monday morning after the company announced that former OpenAI chief Sam Altman will join Microsoft to lead a new advanced research team dealing in artificial intelligence.

Be sure to follow Scott Lehtonen on X, formerly known as Twitter, at @IBD_SLehtonen To learn more about growth stocks and the Dow Jones Industrial Average.

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