Dow Jones Futures Rise Ahead Of Jobs Data; Nvidia Hits Record High On New AI Products
Tuesday, Jan 7, 2025 8:32 am ET
The Dow Jones Industrial Average and other major indexes traded higher Tuesday, as Wall Street awaited employment data due out just after the stock market open. Leading the pack was Nvidia (NVDA), which rallied to record highs in premarket action after Chief Executive Jensen Huang unveiled new artificial intelligence initiatives at CES 2025.
Ahead of the opening bell, Dow Jones futures rose 0.2% vs. fair value, while S&P 500 futures added 0.1%. Tech-heavy Nasdaq 100 futures inched higher in morning trades.
Nvidia stock broke out past a double-bottom's 146.54 buy point Monday, rallying 3.4%. Shares of the artificial intelligence giant added 2.2% Tuesday morning, reaching record highs that were previously set on Nov. 21.

Elsewhere, the Labor Department's JOLTS, Job Openings and Labor Turnover Survey is due out at 10 a.m. ET. The report is expected to show job openings easing to 7.65 million for November vs. October's 7.744 million reading, according to Econoday estimates.
Also, the stock market will be closed Thursday in honor of former President Jimmy Carter.
Game On Again As Nvidia Takes Aim At Apple
Dow Jones Eases
On Monday, the Dow Jones Industrial Average fell 0.1%, while the S&P 500 gained 0.6% and the Nasdaq rallied 1.2%.
Among the best companies to watch in the current stock market are Boston Scientific (BSX), Fortinet (FTNT), Interactive Brokers (IBKR) and Intuitive Surgical (ISRG).
Dow Jones components making notable moves were Amazon.com (AMZN), Apple (AAPL), American Express (AXP) and Microsoft (MSFT).
American Express is 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, and.
Dow Jones: American Express Nears Buy Point
Dow Jones component American Express is building a flat base that offers a 307.82 buy point, according to MarketSurge pattern recognition. Shares gained 0.3% Tuesday.
Outside the Dow Jones index, Boston Scientific has a flat base with a 91.93 entry. Shares rose 0.2% premarket Tuesday.
Cybersecurity leader Fortinet is trying to break out past a flat base's 100.59 buy point. Shares eased 0.3% Tuesday morning.
Interactive Brokers continued to rebound from its 50-day line Monday, as it forms a flat base that shows a 193.42 entry. The stock gained 0.4% Tuesday and is an IBD SwingTrader stock.
Intuitive Surgical climbed 1.3% Monday, extending a win streak to three sessions. Shares are regaining their 50-day line, placing the medical stock in a new buy area. Intuitive stock climbed 0.4% Tuesday premarket.
Nvidia, Apple And Tesla Highlight How To Handle The Stock Market Today
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 NameSymbolCorrect Buy PointType Of Buy PointBlackRock (BLK)1,068.34Tight areaDisney (DIS)118.63Cup with handleTSMC (TSM)205.63Cup with handleFortinet (FTNT)100.59Flat baseSource: IBD Data as of Dec. 31
AI 'Illuminates' New Buy Point After This Stock's Positive Reset
Tesla Stock
Tesla (TSLA) stock edged higher Monday, barely adding to Friday's surge. Shares remain 16% off their all-time high, which was set on Dec. 18.
The electric-vehicle giant threatened to give up its recent gains Tuesday, falling 1.5% in premarket trading.
Dow Jones Futures Today
Dow Jones futures were little changed after hours, along with S&P 500 futures and Nasdaq futures as Apple (AAPL) and Amazon.com (AMZN) headlined key earnings overnight. The October jobs report is on tap.
The stock market rally had a damaging day, with all the major indexes breaking or testing key levels. The Nasdaq led the sell-off as megacaps Microsoft (MSFT) and Meta Platforms (META) slumped, weighing on techs generally.
NOW PLAYINGNasdaq Leads Sell-Off; Meta Platforms, GoDaddy, Netflix In Focus
That included Nvidia (NVDA), Broadcom (AVGO), Arista Networks (ANET) and other artificial intelligence hardware plays despite strong AI-led capital spending from Microsoft and Meta, as well as Google-parent Alphabet late Tuesday.
Tesla (TSLA) extended its retreat this week after last week's earnings surge.
Nvidia and Meta stock are on IBD Leaderboard. Nvidia stock is on SwingTrader. Microsoft stock is on the IBD Long-Term Leaders list. Nvidia, Meta and Arista stock are on the IBD 50. Arista Networks and Broadcom stock are on the IBD Big Cap 20.
The video embedded in this article reviews Thursday's stock market action and analyzes Meta stock, GoDaddy (GDDY) and Netflix (NFLX).
Dow Jones Futures Today
Dow Jones futures edged higher vs. fair value. S&P 500 futures were flat. Nasdaq 100 futures rose 0.1%. Apple stock is a Dow Jones, S&P 500 and Nasdaq giant, with Amazon also an S&P 500 and Nasdaq megacap.
The jobs report is due at 8:30 a.m. ET, with economists expecting a slowdown in hiring amid hurricane impacts. At 10 a.m. ET, ISM will release its October manufacturing index, which is expected to remain below the neutral 50 level.
Remember that overnight action in Dow futures and elsewhere doesn't necessarily translate into actual trading in the next regular stock market session.
Join IBD experts as they analyze leading stocks and the market on IBD Live
Apple Earnings
Apple earnings slightly beat fiscal Q4 views, with investors hoping for hints about iPhone 16 sales for the key holiday quarter.
Apple stock declined slightly overnight. Shares fell 1.8% to 225.91 in Thursday's session, testing the 50-day line. AAPL stock has a 237.23 consolidation buy point, according to MarketSurge, but has an early entry around 234.
Amazon Earnings
Amazon earnings comfortably beat while the cloud-computing arm, Amazon Web Services, met views for a 19% gain. That followed strong growth from Google Cloud and Microsoft Azure.
The cloud-computing and e-commerce giant gave so-so Q4 guidance.
Amazon stock rose solidly in extended trade. Shares declined 3.3% Thursday to 186.40, just above the 50-day line. On Wednesday, AMZN stock flirted with a 195.37 early or handle entry before closing near session lows.
Ailing chipmaker Intel (INTC) and collaboration software maker Atlassian (TEAM) soared overnight on their earnings.
Stock Market Rally
The stock market rally sold off Thursday and never showed much fight during the session. Blame megacap earnings as well as perhaps caution heading into further big quarterly results, economic data, the presidential election and more.
The Dow Jones Industrial Average lost 0.9% in Thursday's stock market trading, undercutting its 50-day line. The S&P 500 index tumbled 1.9% and the Nasdaq composite sold off 2.8%, both closing below their 21-day lines for the first time since Sept. 10. Both are near their 50-day averages. The small-cap Russell 2000 sank 1.6%, dropping below its 21-day and 50-day lines.
Microsoft gapped below all its moving averages on weak revenue guidance and heavy capital spending plans. Meta fell solidly — still with a decent chart — amid big spending plans, despite upbeat Q4 revenue targets.
But while AI spending weighed on the internet giants, their results didn't lift AI hardware. Nvidia stock fell 4.85% on Thursday, below its 21-day line. Broadcom gave up 3.9%, below the 50-day. Arista, which boasts Microsoft and Meta as huge customers, fell 2.4% to between its 21-day and 50-day lines.
Tesla stock fell just over 3% to 249.71, bringing its weekly loss to 7.2%. TSLA stock still has the bulk of last week's 22% surge on earnings, but is in danger of triggering the 7%-8% sell rule from the 264