Futures: Apple Chipmaker Plunges On Earnings

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Dow Jones futures, along with S&P 500 futures and Nasdaq 100 futures, were slightly lower ahead of Tuesday’s stock market open. Apple (AAPL) chipmaker NXP Semiconductors (NXPI) plunged on earnings late, while Nvidia (NVDA) and Tesla (TSLA) rebounded sharply Monday.

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Apple chipmaker NXP Semiconductor dived more than 8% in extended trading Monday after the company’s second-quarter results.

Other key earnings movers late Monday include Cadence Design Systems (CDNS), Medpace (MEDP) and Nucor (NUE).

Cadence stock lost 1.6% in after-hours trading, while Medpace shares tumbled 14%. Nucor stock declined nearly 1% in late trade.

The Federal Reserve’s primary inflation gauge, the core Personal Consumption Expenditures price index, will be in the spotlight on Friday. But Thursday’s second-quarter GDP estimate also will be a focus.

The GDP report is expected to show annual growth near 2%, after the first quarter’s sluggish 1.4%. The report should also offer a three-month inflation and spending trend, rather than a monthly breakdown.

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Stock Market Today

On Monday, the Dow Jones Industrial Average moved up 0.3% and the S&P 500 gained 1.1%. The tech-heavy Nasdaq composite climbed 1.6%.

Among the best companies to watch on the stock market today are AppFolio (APPF), Newmont (NEM), Palantir Technologies (PLTR) and Toast (TOST).

Also on the list are Dow Jones components Amazon (AMZN), American Express (AXP), Apple (AAPL), Goldman Sachs (GS) and Microsoft (MSFT).

Nvidia (NVDA) featured in this Stocks Near A Buy Zone column.

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Dow Jones Today: Oil Prices, Treasury Yields

Ahead of Tuesday’s opening bell, Dow Jones futures edged lower vs. fair value, as did S&P 500 futures. Tech-heavy Nasdaq 100 futures fell 0.1% vs. fair value. Remember that overnight action in Dow Jones futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.

On Monday, the 10-year U.S. Treasury yield ticked higher to 4.25%. And oil prices eased, as West Texas intermediate futures settled around $78.40 a barrel.

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Stock Market Today: What To Do Now

Now is an important time to read IBD’s The Big Picture column amid the ongoing stock market rally. Following Monday’s action, be sure to check out today’s The Big Picture and today’s exposure level.

On Monday’s IBD Live show, the IBD Live team discussed current trading conditions.

An essential resource for daily breakouts is IBD MarketSurge’s “Breaking Out Today” list. It shows MarketSurge Growth 250 stocks that are breaking out past buy points. Notably on that list, Armstrong World (AWI) broke out past a 125.56 buy point in a cup base on the stock market today. Meanwhile, the MarketSurge “Near Pivot” list shows more stocks nearing buy points in bases.

To find more stock ideas, check IBD Stock Lists like IBD 50, Big Cap 20 and Stocks Near A Buy Zone. These features identify bullish patterns and buy points and are available to check every day.

Dow Jones Stocks: American Express, Goldman Sachs

Dow Jones stocks worth watching include payments giant American Express, which is just above a flat base’s 133.10 entry, according to MarketSurge pattern recognition. And Goldman is in buy range above a 471.48 flat-base entry despite recent losses.

Outside the Dow Jones index, AppFolio closed Monday further above a flat base’s 256.73 entry. Gold miner Newmont is just out of buy range past a 44.59 flat-base entry following a recent breakout move.

Palantir Technologies remains above a 27.50 entry and in buy range. In recent weeks, the stock broke out past a 26.57 handle buy trigger. And Toast stock rallied 0.9% Monday, in buy range above a 26.29 buy point in a cup with handle.

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Stock Market Today: Companies To Watch

These are four stocks in or near buy zones in today’s stock market.

Company Name	Symbol	Correct Buy Point	Type Of Buy Point
AppFolio	(APPF)	256.73	Flat base
KB Home	(KBH)	74.66	Flat base
Palantir	(PLTR)	26.57	Handle entry
Amazon	(AMZN)	191.70	Flat base

Source: IBD Data as of July 22

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Magnificent Seven Stocks: Nvidia, Tesla

Among Magnificent Seven stocks, Nvidia and Tesla rallied sharply Monday, as tech stocks snapped back from recent losses.

Tesla stock raced 5.2% higher Monday, recovering from Friday’s drop. The company’s second-quarter earnings are due Tuesday after the close.

Nvidia stock advanced 4.8% Monday, rebounding from the 50-day line, a key support level to watch. Shares remain sharply above a split-adjusted alternative buy point at 97.40. The artificial intelligence titan is an IBD Leaderboard stock.

Dow Jones Leaders: Amazon, Apple, Microsoft

Among Dow Jones stocks in the Magnificent Seven, Amazon is squarely below a 191.70 buy point in a flat base following a four-day losing streak.

Apple stock reversed 0.2% lower Monday, further away from its recent record highs. Shares are extended above a cup base’s 199.62 buy point.

Microsoft shares gained 0.8% Monday, snapping a four-day losing streak. Shares are in buy range above a flat base’s 430.82 buy point and finding support at the 50-day line.

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

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