Dow futures hovered, while technology futures rose early Monday ahead of a big week for the stock market, including key inflation data and a two-day Federal Reserve meeting. advanced micro devices (AMD) And Amazon (AMZN) on the higher price target by analysts.
X
On the economic front this week, the Federal Reserve is widely expected to skip a rate hike at its two-day policy meeting that concludes Wednesday at 2pm ET. The move would halt 10 consecutive price increases that began in March last year.
Ahead of this crucial decision, the Consumer Price Index – the inflation report that will likely influence the Fed’s decision – is due on Wednesday, Tuesday morning. The May consumer price index is expected to have risen 0.3% month over month, with annualized inflation declining to 4.1% from 4.9%. Core CPI, excluding food and energy, is expected to have increased 0.4%, lowering core inflation to 5.3% from 5.5%.
Moreover, the Producer Price Index, which will be released on Wednesday at 8:30 am, is expected to show wholesale inflation slowing to 1.1% from 2.3%. Core PPI inflation is expected to ease to 2.9% from 3.2%.
while, inspiration (ORCLDividends are due after Monday’s close. The shares are in the 20%-25% profit zone of 91.22 COP with a buy point after the breakout move in late March.
Stock Market Today: AMD, Amazon Rally
AMD stock rose nearly 3% after Keybanc raised its price target from 110 to 150, maintaining its Overvalue rating. Amazon shares rose 1% after Bank of America raised its target from 139 to 154, with a buy rating.
EV giant Tesla, which has been up for 11 days in a row, was up 1.7% Monday morning. Dow Jones Tech Giants apple (AAPL) And Microsoft (MSFT) was trading higher before the stock market opened today.
dexcom (DXCM), floor and decoration (FND), fortinet (FTNT) And Kinsale Capital (KNSL) – as well as Dow Jones shares Cisco systems (CSCO), c. B. Morgan Chase (JPM) And sales force (CRM) – among the best stocks to buy or watch in an uptrend of the stock market.
Tesla is IBD Leaderboard stock, while Floor & Decor was IBD stock of the day on Thursday.
Dow jones today: oil prices and treasury yields
Before Monday’s opening bell, Dow futures rose 0.15% vs. fair value. S&P 500 futures rose 0.3%, while Nasdaq 100 futures rose 0.5% in morning trading.
Among the US ETFs, the Nasdaq 100 tracker Invesco QQQ Trust (QQQ(up 0.5%, while the SPDR S&P 500 ETF traded)spy) rose 0.3% early Monday.
With the Federal Reserve meeting in June this week, the 10-year US Treasury yield rose to 3.75%. On Friday, the 10-year yield rose, still near its highs in late May.
Oil prices suffered another round of losses Monday morning, after Goldman Sachs cut its price forecast for the year by 10%. West Texas Intermediate crude futures fell more than 2% on Monday, back to around $68.50 a barrel — the lower end of what has been its trading range since early May.
Stock market action
On Friday, the Dow Jones Industrial Average and S&P 500 both rose 0.1%, while the Nasdaq Composite gained 0.2%.
The Big Picture column commented on Friday, “The fact that losers outnumbered takers nearly 2-to-1 on both the NYSE and Nasdaq could be a sign of some underlying weakness, though volume was mixed. Early also indicated a strong sell-off.
Now is an important time to read IBD’s The Big Picture column after the recent upward change in market expectations.
The five best Dow stocks to buy and watch right now
Dow Jones Stocks to Buy and Watch: Cisco, JPMorgan, Salesforce
Networking giant Cisco Systems in the Dow Jones added a handle to the base of the cup last week, and it now shows a buy point at 50.58. CSCO stock rose 0.4% on Monday.
JP Morgan, the Dow Jones banking leader, is approaching a steady-based 143.37 buy after a four-day winning streak. The shares are only 2% away from their last buy point. JPM shares rose 0.3% early on Monday.
Previous Salesforce has climbed in alternate entries at 193.91 and 200.00 in recent weeks, according to Leaderboard analysis.
In recent weeks, stocks have reached the 20% gain zone of 178.94 handle entry cups, and are now bouncing off the support at the 10-week line. CRM stock rose 0.8% Monday morning.
4 top growth stocks to watch in Stock market rise
Best stocks to buy and watch: Dexcom, Floor & Decor, Fortinet, Kinsale
Dexcom continues to form a flat bottom with 126.44 buy points, as the stock rose 2.65% on Friday, according to IBD MarketSmith pattern recognition. DXCM shares rose 0.8% on Monday.
IBD SwingTrader Floor & Decor stock decisively reclaimed its 50-day line during Wednesday’s rally of 5.1%, putting the flooring retailer in a new buy territory. FND stock is just 5% off its traditional buy point of 101.39. FND shares lost 1.4% early on Monday.
Leading insurer Kinsale Capital closed Friday in buy territory, up 5%, topping out 345.75 buy points. Buy zone reaches 363.04. KNSL stock was up 0.2% on Monday.
Last day’s IBD stock, Fortinet, is still below its stable base buy point of 69.07 amid Friday’s decline of 1.4%. Shares were up 0.8% ahead of Monday.
Learn how to time the market with IBD’s ETF market strategy
Best stocks to buy and watch the stock market rise
These are the top four stocks to buy and watch in the stock market today, including leader Dow Jones.
| Company Name | Code | The right point of purchase | Point of purchase type |
|---|---|---|---|
| ASML | (ASML) | 683.18 | mug with handle |
| sales force | (CRM) | 200.00 | merge |
| Cloud Flair | (network) | 66.20 | Double bottom |
| fortinet | (FTNT) | 69.07 | Flat base |
Source: IBD data as of June 12, 2023
Join IBD experts as they analyze the leading stocks of the current stock market rally on IBD Live
Tesla stock
IBD Leaderboard Tesla stock rose 4.1% on Friday, moving out of a buy range beyond the 207.79 buy point of the double bottom base. On Friday, the shares closed 22% off their 52-week high.
TSLA stock appears to be adding to its extended winning streak, rising nearly 2% Monday morning. Last week, shares rose for the fourth straight week, racing up 14%.
Dow Jones leaders: Apple and Microsoft
Among Dow Jones shares, Apple shares rose for a second day, with gains of 0.2% on Friday, and shares hit an all-time high of 184.95 last week. The stock continues to settle sharply above 157.38 buying points, and is outside the buying range that reached 165.35. AAPL shares rose 0.5% in premarket trading Monday.
Shares of Microsoft rose 0.5% on Friday, offsetting another small part of the 3.1% sell-off on Wednesday. Last week, MSFT stock hit a 20%-25% profit zone from 276.76 flat-base buy points, so investors could have taken at least some profit there. On Monday morning, MSFT stock was up 0.6%.
Be sure to follow Scott Lehtonen on Twitter at @employee Learn more about developing stocks and the Dow Jones Industrial Average.
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