Dow Jones futures: Tesla dives to new lows; AI Palantir stock rises with earnings

Dow Jones futures, along with S&P 500 futures and Nasdaq 100 futures, were little changed before the stock market opened on Tuesday. Artificial Intelligence Stocks Palantir Technologies (Belter) on the back of a positive earnings report, while Magnificent Seven shares rose Tesla (TSLA) has fallen to new lows recently.

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Late Monday, Palantir stock jumped more than 18% after the company reported adjusted earnings per share of 8 cents, in line with estimates, on revenue of $608.4 million. Sales were expected to rise to $602.9 million.

Meanwhile, Apple shares supplied NXP Semiconductor (Nxby) increased by 3% in extended trading after announcing strong earnings and sales results.

Stock Market Today: Tesla Dives

On Monday, the Dow Jones Industrial Average fell 0.7% and the S&P 500 fell 0.3%. The Nasdaq Composite Index, which is dominated by technology stocks, fell by 0.2%.

Among the seven wonderful stocks Tesla (TSLAThe stock was the biggest loser, declining by 3.65%. And Nvidia (NVDA) rose 4.8% to record levels.

Finally, the technology icons of the Dow Jones apple (Camel) And Microsoft (MSFT) traded mixed on the stock market today, with Apple stock up 1% and Microsoft stock up 1.35%.

Expedia (EXPE), KKR (KKR), Lennar (flexible) And MongoDB (MDB) – as well as members of Dow Jones Caterpillar and Walmart (And die) — one of the best stocks to buy and watch in the current market rally.

Disney and Lennar appear in the column of stocks near the buy zone.

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Dow Jones Index Today: Oil Prices and Treasury Yields

Before the opening bell on Tuesday, Dow Jones futures, S&P 500 futures and Nasdaq 100 futures were little changed versus fair value. Remember, overnight movement in Dow Jones futures and elsewhere does not necessarily translate into actual trading in the next regular stock market session.

The yield on 10-year US Treasury bonds jumped to 4.16% on Monday. Meanwhile, oil prices rebounded, with West Texas Intermediate futures settling at just under $73 per barrel.

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Stock Market Rising: What to Do Now

Now is an important time to read IBD's Big Picture column, with the stock market forecast in a certain uptrend.

After Monday's losses, be sure to check today's Big Picture for an updated exposure level.

A great source for daily breakouts is IBD MarketSmith's “Breaking Out Today” list. It shows MarketSmith Growth 250 stocks that have crossed new buy points. There were three hacks today, including… JFrog (frog), which breaks the flat entry level of 35.35.

Meanwhile, MarketSmith's “Near Pivot” list shows stocks that are approaching buy points in bases, e.g Global payments (gpn). Global Payments is approaching the flat entry level of 138.07.

To find more stock ideas, check out IBD's stock lists, such as Bahraini dinar 50, Large cap 20 The stock is near the buy zone. These features identify bullish patterns and buy points and should be checked every day.

Dow Jones: Disney, Walmart

Media leader Disney is in a buy range above a flat buy point of 96.51, despite a 0.5% loss on Monday, according to IBD MarketSmith pattern recognition. Earnings are scheduled to be released on Wednesday after the market closes.

Discount retail leader Walmart is in a buy range beyond a 163.57 entry level in a cup with handle, even as the stock fell 0.5% on Monday.

4 Higher Growth Stocks to Watch in Stock market pool

Lennar eyes purchase point

Expedia travel stock is tracking a flat base showing a buy point of 155.84. Shares are finding support around the 50-day line, rising 0.4% on Monday.

IBD Leaderboard KKR stock remains above a flat entry level of 85.66 amid a 1.2% decline on Monday.

Homebuilder Lennar is within striking distance of a flat base buy point of 156.01, with a nearly 1% decline on Monday.

Software leader MongoDB crossed a buy barrier of 426.51 points, with a 6.6% rise on Friday, according to IBD Marketsmith. MongoDB shares rose 0.2% on Monday.

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The best bets are in the action of both

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

Source: IBD data as of February 5, 2024

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Tesla shares

Tesla stock fell as much as 6.9% on Monday, reaching its lowest level since May 2023, before ending with a loss of 3.65%. Shares are down about 40% from their 52-week high.

Tesla's 2024 earnings estimates are now below the 2023 level, signaling another year of negative growth for this growth story stock. Meanwhile, the electric car giant on Sunday raised the US price of the long-range Model 3 variant.

Analysts now expect Tesla's earnings per share to be just $3.08 per share in 2024, according to FactSet. That would be a 1% decline from $3.12 last year. That was a 23% decline compared to 2022.

Dow Jones leaders: Apple, Microsoft

Among the Dow Jones stocks in the Magnificent Seven, Apple and Microsoft shares traded mixed during Monday's stock market action.

Apple shares rose 1% on Monday, still below its 50-day line after sharp losses in recent weeks. Shares continue to track a flat base with a buy point of 199.62.

Microsoft stock fell 1.35% on Monday, ending a two-day rally. Shares were extended beyond their base buy point of 366.78 kopecks.

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

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