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McCarthy says sides are “far apart” on debt ceiling; C3.ai Rockets 23%




Dow Jones stock futures were little changed before Tuesday’s open after the Dow Jones Industrial Average rose 47 points on Monday. AI creates C3.ai (AI) rocketed 23%, while Home Depot (HD) and Walmart (WMT) are big earnings reporters Tuesday.




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President Joe Biden said Monday that the next debt ceiling meeting with congressional leaders will be on Tuesday, but said there are no updates on the talks. House Speaker Kevin McCarthy said the two sides remain “far apart” and that he wants a deal done this week.

Previously hot AI stock C3.ai surged more than 23% on Monday after announcing its preliminary fourth-quarter financial results. C3.ai said fourth-quarter revenue was $72.1 million to $72.4 million, better than the company’s previous guidance.

Home Depot and Walmart earnings are due Tuesday morning. On holding (ON) will also report early Tuesday.

The stock market today

On Monday, the Dow Jones Industrial Average rose 0.1 percent. The S&P 500 rose 0.3%, while the technology-heavy Nasdaq composite rose 0.7%.

EV leader Tesla (TSLA) traded down 1% on Monday. Among Dow Jones stocks, apple ( AAPL ) fell 0.3% and Microsoft (MSFT) rose 0.2% in today’s stock market action.

Advanced Micro Devices (AMD), the IBD Leaderboard stock Nvidia (NVDA), IBD SwingTrader idea Netflix (NFLX) and Uber technologies (UBER) — as well as Dow Jones stocks Salesforce (CRM) and Visa (V) – is among the best stocks to buy and watch in the upswing in the stock market.

Netflix and Nvidia were recent IBD Stock Of The Day topics.


4 top growth stocks to buy and watch nowra stock market rally


Dow Jones stock futures today: Oil prices, Treasury yields

Ahead of Tuesday’s opening bell, Dow Jones futures, S&P 500 futures and Nasdaq 100 futures were little changed relative to fair value in overnight trading. Keep in mind that overnight action in Dow Jones futures and elsewhere does not necessarily translate into actual trading in the next regular session.

The 10-year US Treasury yield rose to 3.5% on Monday. Meanwhile, US oil prices rose on Monday, as West Texas Intermediate futures settled just above $71 a barrel.


IBD’s latest newsletter, MarketDiem, brings you actionable ideas for stocks, options and crypto straight to your inbox.


What to do in the stock market rally

Now is an important time to read IBD’s The Big Picture column with the stock market trending in a “confirmed uptrend.”

A confirmed uptrend gives IBD readers the green light to buy top stocks that break out previous new buy points. Despite the acknowledgment of better action in recent sessions, IBD’s recommended equity exposure remains at 20% to 40% of your portfolio due to the ongoing news-driven volatility.

Two useful IBD MarketSmith lists to check right now are “Breaking Out Today” and “Near Pivot.” The latter shows stocks approaching buy points in bases, and the others flag stocks that rise past buy points during the session.

To find more stock ideas, check IBD stock lists, such as the IBD 50, Big Cap 20 and stocks near a buy zone. These features identify bullish patterns and buy points and should be checked daily.


Learn how to time the market with IBD’s ETF Market Strategy


Dow Jones stocks to buy and watch: Salesforce, Visa

IBD Leaderboard stock Salesforce outpaced alternative entries at 194.01 and 200.10 in recent sessions, according to Leaderboard analysis. Meanwhile, the RS line hit a new high last week, a bullish signal.

Visa shares remain in buy territory above a 230.15-cup buy point with a handle amid Monday’s 0.6% gain. The buying range goes up to 241.66.

Best stocks to buy and watch: AMD, Nvidia, Netflix, Uber

Chip leader Advanced Micro Devices continues to rally on the right side of a cup base that has a buy point of 102.53, according to IBD MarketSmith pattern recognition. Last week’s advance saw AMD stock climb above an early trendline entry, using the May 4 high of 91.64 as a buy point.

IBD Leaderboard stock Nvidia ended Monday up 2.2%, still in buy territory above a 280.10 buy point in a brief consolidation. The 5% buy zone goes up to 294.11.

Recently IBD Stock Of The Day Netflix crossed its 50-day moving average line last week. The positive action created a buying opportunity for aggressive investors. Furthermore, Netflix shares are now near a 349.90 cup-with-handle buy point.

Uber Technologies remains in buy territory past 37.68 buy points in a cup base, amid a 0.8% drop on Monday. The 5% buy range goes up to 39.56. However, Uber is still extended from the 50-day line.


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


Tesla shares

Tesla shares slipped another 1% on Monday, adding to Friday’s losses that saw the stock find strong resistance around its key 50-day line. Amid the rally since late April, stocks are looking to build a new base.

The stock closed 47% off its 52-week high on Monday.

Dow Jones Leaders: Apple, Microsoft

Among the Dow Jones stocks, Apple shares fell 0.3% on Monday, still near a 52-week high set back in mid-August. The stock continues to increase its rise above a buy point of 157.48 and is outside the buy range that went up to 165.35.

Microsoft shares rose 0.2% on Monday, holding close to last week’s 52-week high of 313. Shares are well above a buy point of 276.86.

Follow Scott Lehtonen on Twitter at @IBD_SLehtonen for top stocks to buy and watch and Dow Jones Industrial Average action.

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