The Dow Jones Industrial Average briefly fell 100 points Monday as the market looks to wrap up a strong January performance. The Federal Reserve’s policy meeting headlines this week, with a key decision also due from OPEC. Apple supplier NXP Semiconductors (NXPI) will report its quarterly earnings results after Monday’s close, kicking off another busy week of earnings reports. And Tesla stock received a buy upgrade following last week’s 33% surge.
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The Fed’s two-day meeting will start Tuesday, and the central bank is widely expected to raise the target federal funds rate by 25 basis points, to a range of 4.5% to 4.75%. Investors place a 99% probability of that size hike, according to the CME’s FedWatch tool.
Tech titans Amazon (AMZN), Apple (AAPL), Alphabet (GOOGL) and Meta Platforms (META) will report this week, along with Exxon Mobil (XOM), Dow Jones member Merck (MRK) and Starbucks (SBUX). Automakers Ford (F) and General Motors (GM) are also due to report.
Investing Action Plan — January Wrap: Apple, OPEC, Exxon And The Fed
Stock Market Today
Electric-vehicle leader Tesla fell 0.15% Monday morning, looking to add to last week’s big gains. Dow Jones tech giants Apple (AAPL) and Microsoft (MSFT) were lower after today’s stock market open.
IBD Leaderboard stock Axon Enterprise (AXON), recent IBD Stock Of The Day Etsy (ETSY), Monster Beverage (MNST) and Vertex Pharmaceuticals (VRTX) — as well as Dow Jones stocks Chevron (CVX) and JPMorgan Chase (JPM) — are among the top stocks to buy and watch, with the ongoing strength of the market rally.
Axon is an IBD Leaderboard stock. Etsy and Vertex were recent IBD Stocks Of The Day. Axon and JPMorgan were featured in last week’s Stocks Near A Buy Zone column.
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Dow Jones Today: Oil Prices, Treasury Yields
After Monday’s opening bell, the Dow Jones Industrial Average dropped 0.1%, and the S&P 500 moved down 0.4%. The tech-heavy Nasdaq composite declined 0.8% in morning action. China-based…
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