Home Finance News Dow Jones climbs as Apple hits new buy point; Nvidia sets record highs.

Dow Jones climbs as Apple hits new buy point; Nvidia sets record highs.

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Dow Jones climbs as Apple hits new buy point; Nvidia sets record highs.

The Dow Jones Industrial Average and S&P 500 indexes aimed for new records Monday as both major indexes gained more ground after setting all-time highs. Dow component Apple offered investors a new buy point, while Nvidia stock looked to clear the 600 mark for the first time. The 10-year Treasury yield slid to 4.09% Monday morning, and oil prices paused after last week’s gains. Home Depot fell around 1% Monday after Oppenheimer downgraded the stock. Apple stock rallied 1.55% Friday, retaking its 50-day line and placing the stock in an aggressive buy area.

Following the opening bell, the Dow Jones Industrial Average rose 0.3%, as did the S&P 500, while the tech-heavy Nasdaq composite climbed 0.5% in morning action. The Nasdaq 100 tracker Invesco QQQ Trust was up 0.5%, and the SPDR S&P 500 ETF rose 0.3%. More key inflation data is due this week, with the Personal Consumption Expenditures Price Index reading for December from the Bureau of Economic Analysis on Friday. Core PCE, the Fed’s preferred inflation gauge, which strips out volatile food and energy prices, is seen rising 3% year over year. Other economic information includes U.S. Purchasing Managers Index data for services as well as manufacturing, with both due Wednesday. The preliminary fourth-quarter GDP reading comes Thursday. Key earnings reports this week come from Netflix, Tesla, Intel, and chip-equipment firms such as ASML.

Among Dow Jones stocks in the Magnificent Seven, Microsoft traded higher after Monday’s stock market open. Microsoft stock moved up 1.2% Friday, further above a flat base’s 384.30 buy point. Microsoft stock was a recent IBD Stock Of The Day, and the software giant was up 0.2% Monday morning, looking to clear the 400 level for the first time. Nvidia, a Magnificent Seven stock, traded up 0.6%, while Tesla was down 0.8% in morning action Monday. Nvidia rallied 4.2% Friday, moving further out of buy range past a 505.48 buy point in a flat base. Tesla stock reversed up 0.2% Friday, ending a two-day skid. Shares remain near their lowest level since mid-November.

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