The stock market is showing signs of positivity as Dow Jones futures, S&P 500 futures, and Nasdaq 100 futures were higher ahead of Tuesday’s opening. Nvidia is rebounding and investors are eagerly anticipating big earnings reports from major companies such as Microsoft, Boeing, Tesla, Meta Platforms, and Google parent Alphabet.
However, not all companies are faring well as Cadence, Nucor, and Packaging Corporation of America reported earnings results that led to plunging stock prices. This comes as economic data for the week is set to be released, including the first-quarter GDP and the Personal Consumption Expenditures price index. The GDP data expected on Thursday is forecasted to show a 2.1% growth in the first quarter.
Meanwhile, some companies are standing out in the market. Apple and Microsoft ended higher on Monday and Alphabet, Dexcom, On Holding, Tradeweb Markets, and American Express are among the best companies to watch today. American Express posted better-than-expected earnings and sales results for the first quarter, with a strong outlook for the future. Alphabet is above a buy point in a consolidation and Dexcom is holding above its key 50-day line. Tradeweb Markets is also building a flat base with a buy point of 108.04.
In other news, Nvidia stock rebounded on Monday, while Tesla saw a decline after cutting prices for its electric vehicles. Investors looking for more insights on growth stocks and the Dow Jones Industrial Average can follow Scott Lehtonen on X/Twitter at @IBD_SLehtonen.
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