The stock market rally turned mixed early Monday amid reports that China wants another round of trade talks before signing the so-called first phase of a trade deal. Treasury Secretary Steven Mnuchin said mid-December tariffs on China will go into effect if no deal is reached.
XThe Dow Jones Industrial Average fell about 60 points in today's stock market before turning positive. Dow Jones stock Nike (NKE) hit record high with a near-1% gain after an analyst upgrade.
Among the other Dow Jones stocks, Apple (AAPL) neared another record high, while Visa (V) stock shows a new buy point after Friday's bullish move. Check out this week's IBD Investing Action Plan for important stock market events, like earnings results from FANG stock Netflix (NFLX). Meanwhile, Nvidia (NVDA) headlines these five top stocks to watch this week.
Dow Jones Turns Positive In Current Stock Market
The Nasdaq composite and the S&P 500 pared losses to less than 0.1% while the Dow Jones Industrial Average added 0.1%. (For more of today's stock market updates, visit the Stock Market Today page.)
All three major stock indexes found support near their long-term 200-day moving averages last week. All three major indexes staged bullish moves beyond their 50-day lines Friday.
Among exchange traded funds, Innovator IBD 50 ETF (FFTY) moved up 0.4%. The ETF is still below its 200-day line. On Oct. 3, the FFTY hit its lowest level since February before rebounding.
Dow Jones Stocks: Nike Hits Record High
Among the Dow Jones stocks, Nike was one of the top performers after Bank of America upgraded the retailer from underperform to neutral. The stock is extended past the 5% buy range of an 89.45 buy point in a cup with handle. Shares reached a record high.
Apple stock added 0.4% after hitting a record high Friday. Shares are extended beyond the 5% buy range from a 221.47 entry in a flat base, according to MarketSmith chart analysis. The 5% buy zone tops out at 232.54.
Dow Jones leader Visa moved up 0.5%, as it traces a new flat base with a 187.15 buy point.
Stock Market News: Q3 Earnings Season
Q3 earnings season is set to kick off this week. Dow Jones stocks Goldman Sachs (GS) and JPMorgan (JPM) will report early Tuesday. Both investment banks are nearing potential buy points. Goldman stock is shaping a flat base with a 222.34 buy point, while JPMorgan is just below a 117.34 entry in a cup base.
Meanwhile, FANG stock Netflix will report Wednesday after the stock market close. Shares are testing resistance around their 50-day moving average line after a recent rebound. The stock remains about 27% off its 52-week high.
Elsewhere, Nvidia is trying to break out past a 188.50 buy point in a cup with handle. Shares are just below the entry.
Top Growth Stocks To Watch: Dow Jones Leader
Among the IBD 50 top growth stocks, software maker Microsoft (MSFT) is trying to regain a 141.78 buy point in a flat base after finding support around its 50-day line. Shares fell short of reclaiming the buy point Friday.
According to IBD Stock Checkup, the Dow Jones leader has a 95 out of a best-possible 99 IBD Composite Rating. Investors can use the Composite Rating to easily measure a stock's fundamental and technical metrics.
Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more on growth stocks and the stock market.
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