- The Dow Jones Industrial Average and other major stock indexes are set to extend their rallies, with key Federal Reserve speakers due to comment later in the day.
- Warren Buffett’s Berkshire Hathaway (BRKB) reports earnings, reversing lower on the stock market today.
- The Nasdaq composite decisively clears the 16,000 level, with positive reactions to earnings from Apple and Amgen.
Stock markets rally as investors await comments from key Federal Reserve speakers. Meanwhile, Warren Buffet’s Berkshire Hathaway reports earnings, reversing lower on the stock market today.
Stock Market Today: Fed Speakers
Wall Street is focused on speeches from Thomas Barkin and John Williams, presidents of Federal Reserve banks. Later this week, the Labor Department’s weekly unemployment claims are due out Thursday, while Friday will feature the University of Michigan’s preliminary consumer sentiment data for May.
Dow Jones Rises
On Friday, The Dow Jones Industrial Average rallied 1.2%, while the S&P 500 climbed 1.3%. The tech-heavy Nasdaq composite advanced 2%. Now is an important time to read Investor’s Business Daily’s The Big Picture column amid the ongoing stock market action.
Stock Market Today: Best Stocks To Watch
Chipotle Mexican Grill (CMG), NXP Semiconductors (NXPI), Texas Roadhouse (TXRH) and Tradeweb Markets (TW) — plus Dow Jones component American Express (AXP) — are among the best companies to watch in the current market.
Dow Jones: American Express Below Buy Point
American Express is bouncing back in heavy volume from support around its 50-day moving average. The bullish rebound has placed the software leader in a new buy area, while shares are back below a 231.69 entry in a short consolidation.
Stock Market Today: Companies To Watch
These are four stocks in or near buy zones in today’s stock market: American Express (AXP), Texas Roadhouse (TXRH), Chipotle (CMG), and Tradeweb Markets (TW).
Magnificent Seven Stocks: Nvidia, Tesla
Magnificent Seven stocks Nvidia (NVDA) and Tesla (TSLA) advanced 3.1% and 3.3%, respectively, in Monday’s morning action. Nvidia stock rallied 3.5% Friday, retaking its 50-day line, a key area to watch. Shares continue to form a consolidation that has a new buy point at 974.
Conclusion
With the Dow Jones and other major stock indexes extending their rallies, investors are keenly awaiting comments from key Federal Reserve speakers. Meanwhile, Warren Buffet’s Berkshire Hathaway reports earnings, reversing lower on the stock market today. The Nasdaq composite decisively clears the 16,000 level, with positive reactions to earnings from Apple and Amgen.
