Dow Jones Futures: AppLovin, Nvidia, Palantir, Tesla Slide During Stock Market Drop

Dow Jones futures, along with S&P 500 futures and Nasdaq 100 futures, traded slightly lower ahead of Tuesday’s open, after the stock market drop Monday.

Meanwhile, AppLovin (APP), Palantir Technologies (PLTR), Nvidia (NVDA) and Tesla (TSLA) were big losers during Monday’s session.

AppLovin shares tumbled 2.2% Monday, extending a losing streak to four sessions and closing just above a 675 double-bottom entry. The stock found support at its 21-day exponential moving average.

Nvidia stock moved down 1.2% Monday, erasing the entirety of Friday’s gain. Shares finished just above a 188 early entry as they decisively regained their 50-day line last week.

Palantir stock fell 2.4% Monday, further below a 190.39 cup-with-handle entry. Shares are looking for much-needed support at their 50-day line.

Finally, Tesla stock skidded 3.3%, closing below its recent buy point at 474.07 and the 21-day line. Shares are about 8% off their all-time high, which was set on Dec. 22.

Stock Market Today: Fed Minutes Loom

There will be scarce economic data in the holiday-shortened week. Unlike Christmas Eve, the stock market will not close early on New Year’s Eve, but it will be closed on Thursday, New Year’s Day.

The key releases are the minutes from the Federal Reserve’s latest policy meeting, due out Tuesday, and the Labor Department’s weekly jobless claims, expected Wednesday.

Dow Jones Futures Today: Oil Prices, Treasury Yields

On Monday, the Dow Jones Industrial Average dropped 0.5%, or 249 points, while the S&P 500 moved down 0.4% and the Nasdaq composite lost 0.5%.

Ahead of Tuesday’s opening bell, Dow Jones futures edged lower, as S&P 500 futures moved down less than 0.1%. Nasdaq 100 futures dipped 0.1% in extended trading. Remember that overnight action in Dow Jones futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.

The 10-year U.S. Treasury yield ticked lower to 4.11%. And oil prices rose, as West Texas intermediate futures settled around $57.80 a barrel.

What To Do Now As Market Rally Continues

Following the ongoing rebound on the major stock indexes, now is an important time to read IBD’s The Big Picture column. And on Monday’s “IBD Live” show, the team discussed the current trading conditions and stock market action.

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. There were no new breakouts Monday, which makes sense given the market weakness.

Meanwhile, the MarketSurge “Near Pivot” list shows more stocks nearing buy points in bases. For example, Gilead Sciences (GILD) is approaching a 128.70 flat-base entry.

To find more stock ideas, check IBD Stock Lists like the 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.

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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