The Dow Jones Industrial Average and other major indexes were mixed Tuesday in a shortened Christmas Eve trading session. An early stock to watch is Nvidia (NVDA), which is hitting a key resistance level on the stock market today, while artificial intelligence chip maker Taiwan Semiconductor (TSMC) broke out past a buy point Monday.
Ahead of the opening bell, Dow Jones futures fell a fraction vs. fair value, as S&P 500 futures gained 0.2%. Tech-heavy Nasdaq 100 futures moved up 0.3% in morning trades.
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Early Tuesday, the 10-year Treasury yield ticked up to 4.63%. Oil prices rose, as West Texas Intermediate futures traded around $69.95 per barrel.
Among exchange traded funds, the Invesco QQQ Trust (QQQ) gained 0.4%, as the SPDR S&P 500 ETF (SPY) moved up 0.2% ahead of the open.
The stock market will be closed Wednesday for the Christmas holiday, with an abbreviated trading session on Tuesday. The stock market will close Tuesday at 1 p.m. ET.
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Stock Market Today: Nvidia At Key Level
Nvidia rebounded another 3.7% on Monday, extending a win streak to three sessions and closing right at its 50-day line, a key resistance level to monitor. If it can continue to make progress and move decisively clear of this level, that would be a bullish signal. Nvidia stock added 0.5% Tuesday morning.
Artificial intelligence chip maker Taiwan Semiconductor, better known as TSMC, broke out Monday, moving past a 205.63 cup-with-handle buy point and closing in the 5% buy area that runs up to 215.91. TSMC was a recent IBD Stock Of The Day. Shares lost 0.6% premarket Tuesday.
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Dow Jones Rebounds
On Monday, the Dow Jones Industrial Average rose 0.2%, while the S&P 500 climbed 0.7% and the Nasdaq advanced 1%.
Among the best companies to watch on the stock market today are BlackRock (BLK), Burlington Stores (BURL) and Interactive Brokers (IBKR).
Dow Jones components making notable moves were Amazon.com (AMZN), Apple (AAPL), Walt Disney (DIS) and Microsoft (MSFT).
Disney and Burlington are featured in this Stocks Near A Buy Zone column.
Check out IBD MarketSurge‘s “Breaking Out Today” list for top growth stocks that are moving above correct buy points. Check for potential breakouts on the “Near Pivot” list. To find additional stock ideas, check IBD Stock Lists like IBD 50, Big Cap 20 and Stocks Near A Buy Zone.
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Dow Jones: Disney Nears Buy Point
Dow Jones component Disney is approaching a 118.63 buy point in a cup with handle, according to MarketSurge pattern recognition. Shares gave back 0.1% Tuesday.
Outside the Dow Jones index, BlackRock is under a 1,068.34 buy point in a four-weeks-tight pattern as it finds support at its 50-day moving average. BlackRock stock was up 0.5% in premarket trading Tuesday.
Burlington Stores is in buy range above its 279.51 buy point in a cup with handle amid recent losses. Shares were flat Tuesday morning.
Interactive Brokers rallied 1% Monday, bouncing further from support at the 50-day line, offering an early entry around 172.50. The stock gained 0.5% Tuesday.
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Stock Market Today: Companies To Watch
These are four stocks in or near buy zones in today’s stock market, including a Dow Jones leader.
| Company Name | Symbol | Correct Buy Point | Type Of Buy Point |
|---|---|---|---|
| BlackRock | (BLK) | 1,068.34 | Tight area |
| Disney | (DIS) | 118.63 | Cup with handle |
| TSMC | (TSM) | 205.63 | Cup with handle |
| Burlington Stores | (BURL) | 279.51 | Cup with handle |
Source: IBD Data as of Dec. 24
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Tesla Stock Snaps Losing Streak
Electric-vehicle giant Tesla rebounded 2.3% Monday, snapping a three-day losing streak. Last week, shares rallied as much as 84% above a 264.86 buy point in a cup with handle.
Tesla stock bounced another 1.6% in premarket action Tuesday.
Dow Jones Leaders: Amazon, Apple, Microsoft
Besides Nvidia, another Dow Jones component in the Magnificent Seven is Amazon stock, which rose 0.1% Monday. Amid that gain, the e-commerce giant is still extended above a 201.20 buy point after hitting new highs earlier in the week. It added 0.3% in premarket trading Tuesday.
Shares of Apple are out of buy range above a flat base’s 237.49 entry, as they hit new highs Monday. The stock edged higher Tuesday morning.
Microsoft shares fell 0.1% Tuesday morning following four straight days of losses. The software giant is building a cup with handle that has a 456.16 buy point.
Be sure to follow Scott Lehtonen on X at @IBD_SLehtonen for more on growth stocks, the Dow Jones Industrial Average and the stock market today.
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