Dow Jones futures, along with S&P 500 futures and Nasdaq 100 futures, were higher late Monday following mixed stock market action. The Apple iPhone 13 is set for a Tuesday debut, while Tesla stock reversed from sharp losses.
Among the Dow Jones leaders, Apple (AAPL) rallied 0.4%, while Microsoft (((MSFT))) also moved up 0.4% in today’s stock market. Nike (NKE) offers a new buy point, but remains below a key technical level.
Among the top stocks to buy and watch, Palantir Technologies (PLTR), Shopify (SHOP), Under Armour (UAA) and Yeti (YETI) are near new buy zones.
After the stock market close Monday, Dow Jones futures rallied 0.2% vs. fair value, while S&P 500 futures rose 0.15%. Nasdaq 100 futures gained 0.15% vs. fair value. Remember that trading in Dow Jones futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.
U.S. Stock Market Today Overview
Last Update: 4:38 PM ET 9/13/2021
Among exchange traded funds, Innovator IBD 50 (FFTY) declined 2.7% Monday. Nasdaq 100 tracker Invesco QQQ Trust (QQQ) lost 0.1%. And the SPDR S&P 500 ETF (SPY) rose 0.3%.
Stock Market Rally Mixed
The Nasdaq extended a losing streak to four sessions Monday, while the S&P 500 halted its five-day losing streak around its 50-day line. The Dow Jones Industrial Average remains below its 50-day line despite Monday’s gains.
Friday’s The Big Picture column commented, “After two weeks of gains, the S&P 500 and Nasdaq fell 1.6% and 1.7% for the past week. In all, the losses did not knock indexes out of their longer-term uptrend. But that uptrend has seen its share of pullbacks, and another downward phase appears to be unfolding.”
For more stock market commentary, check out IBD’s The Big Picture.
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Dow Jones leader Nike is tracing a flat base with a 174.48 buy point, according to IBD MarketSmith chart analysis. But shares tumbled 2.5% Monday after analyst firm BTIG downgraded the stock from buy to neutral. Shares are below their key 50-day moving average line. Retaking support at that critical level would be bullish for the stock’s immediate prospects.
Through Sept. 10, Nike was the No. 8 performer on the Dow Jones Industrial Average, advancing more than 15%. Goldman Sachs (GS) was the top Dow Jones stock with a year-to-date gain of 53% through Sept. 10.
Stocks To Buy And Watch: Palantir, Shopify, Under Armour, Yeti
Palantir Technologies is back below its cup-with-handle’s 26.04 buy point, according to IBD MarketSmith chart analysis, amid Monday’s 1.7% decline. The 5% buy area tops out at 27.34.
Shopify continues to trace a flat base that shows a 1,650.10 buy point. According to IBD Stock Checkup, SHOP stock boasts a 98 out of a perfect 99 IBD Composite Rating. The IBD Composite Rating identifies stocks with a blend of strong fundamental and technical characteristics.
SHOP stock lost 0.5% Monday and is falling further below its 50-day line that it gave up last week.
Under Armour continues to build a cup-with-handle that shows a 26.12 buy point, according to IBD MarketSmith chart analysis. The stock is trying to stem its recent slide around its 50-day line. Shares dropped over 4% Monday.
IPO Leader Yeti is building a flat base that shows a 105.72 buy point. Shares dipped 0.7% Monday. Bullishly, the stock’s relative strength line is near new highs, indicating strong stock market outperformance. The RS line should hit a new high on the breakout day, confirming the stock as a market leader.
Yeti was featured in last week’s IPO Leaders column.
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PayPal stock dropped 1.35% Monday, adding to Friday’s nearly 1% loss. The top stock is right below its 50-day moving average line.
PayPal is trading about 7% away from a flat base’s 310.26 buy point. Meanwhile, an aggressive entry looms at 296.80, or a dime above Wednesday’s high.
IBD Leaderboard stock Tesla reversed from sharp early losses to rally nearly 1% Monday, recovering a part of Friday’s 2.5% sell-off. Tesla stock is just above an alternate entry at 730. In recent weeks, shares regained their 700.10 aggressive buy point deep inside a correction. Meanwhile, a deep, large base continues to take shape.
On Jan. 25, Tesla stock hit a record high 900.40, after climbing as much as 93% from a 466 buy point in a cup-with-handle.
Among the top Dow Jones stocks, Apple moved up 0.4% Monday following Friday’s 3.3% sell-off. Shares are trying to find support around their key 50-day line. Apple stock is still in buy range above a 148 trendline buy point.
Apple is holding an online event titled “California Streaming” starting at 10 a.m. Pacific time on Tuesday. Analysts widely expect the company to introduce its 15th-generation smartphones, the iPhone 13 series, as well as Apple Watch Series 7 wearables.
Software giant Microsoft gained 0.4% Monday. Shares are about 15% above a cup base’s 263.29 buy point and near new highs.
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