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Dow Jones futures were lower on Tuesday and the stock market was closed for the July 4 holiday. Major stock indices ended right at their 2023 highs on Monday, as Tesla shares soared to new highs with record second-quarter deliveries. Meanwhile, a crucial jobs report for June looms on Friday.

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On Monday, the Dow Jones Industrial Average rose slightly higher, while the S&P 500 gained 0.1%. The technology exchange Nasdaq rose 0.2%.

On the economic front, this week’s Friday Labor Department jobs report is in the spotlight. Economists predict a gain of about 200,000 jobs and a fall in the unemployment rate to 3.6%.

Ahead of that crucial jobs report, the minutes of the Fed’s June 13-14 meeting will be out at 2 p.m. Wednesday. They could shed light on why policymakers’ forecasts came in for two more rate hikes.

Thursday will bring a good dose of data. Payroll processor ADP releases its estimate of private sector job growth for June at 8:15 a.m. The first unemployment claims must be submitted by 8:30 am. Both reports are seen as precursors to the monthly salary report. The ISM Service Index is released at 10 a.m. along with the Labor Department’s monthly job and labor turnover survey.

Fair today

EV giant Tesla (TSLA) rose nearly 7% after the company reported record second-quarter deliveries that beat estimates. Dow Jones tech giants Apple (AAPL) and Microsoft (MSFT) fell 0.8% and 0.75% respectively in the current stock market action.

Chipotle Mexican Grill (CMG), Dynatrace (DT), MongoDB (MDB), Lamb research (LRCX) and Nvidia (NVDA) — as well as Dow Jones stock JPMorgan Chase (J.P.M.), Visa (V) and Sales team (CRM) – are among the best stocks to watch in the continued progress in the stock market.

Tesla is an IBD Leaderboard stock, Lam Research remains an IBD SwingTrader stock, while Nvidia was seen in the stock column this week near a buy zone. Dynatrace was a recent IBD Stock Of The Day.

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Dow Jones Today: Oil Prices, Treasury Yields

The exchange is closed on Tuesday, with limited futures trading.

Ahead of Wednesday’s opening bell, Dow Jones futures were down 0.15% from fair value, while S&P 500 futures were slightly lower. Nasdaq 100 futures were barely below fair value. Remember that overnight action in Dow futures and elsewhere does not necessarily translate into actual trading in the next regular trading session.

On Monday, the 10-year US Treasury yield ticked higher to 3.85%. Oil prices rose 1.5% on Tuesday after their recent lows. West Texas Intermediate futures traded at around $71 a barrel.

Stock market action: what to do now

Now is an important time to read IBD’s The Big Picture column with major stock indices at their 2023 highs.

As the stock market is at its peak this year, IBD’s recommended exposure level is 80% to 100%. However, investors should be careful when adding exposure, taking stock of current market levels and increasing at a measured pace. It’s also important to stay nimble in case another pullback comes along.

Five best Dow Jones stocks to buy and watch right now

Dow Jones stocks to watch: JPMorgan, Salesforce, Visa

Dow Jones bank leader JPMorgan rose further above a 143.37 flat-base buy point during Monday’s earnings. The 5% buy zone goes up to 150.54.

Salesforce managed to stabilize itself after a post-revenue pullback. It is now testing support on the 50-day line. A decisive bounce would provide a new item.

According to the IBD Leaderboard analysis, the megacap technology previously passed a pair of alternate entries at 194.01 and at 200.10. In recent weeks, shares hit the 20% gain zone from a 178.94 cup entry with handle.

Payments leader Visa surpassed the buy point of a flat base of 235.57 last week and added to that gain on Monday, rising 0.2%. The buy range comes out at 247.35.

4 Top growth stocks to watch Stock market rally

Best stocks to buy and watch: Chipotle, Dynatrace, MongoDB, Lam Research, Nvidia

IBD Leaderboard watchlist stock Chipotle is trying to break out past the 2,139.88 buying point from a flat base, according to IBD MarketSmith pattern recognition. An early entry at 2,092.51 was also available due to a trendline. Chipotle was a recent IBD stock of the day.

Software maker Dynatrace has formed a three-week chart pattern, representing a brief consolidation in which institutional investors pause their purchases. Shares are about 3% off their last entry at 52.99.

IBD SwingTrader share Lam Research rose above a 615.80 early buy point and a three week tight pattern with a 630.72 entry during last week’s gains. Shares stuck at 1.3% Monday.

MongoDB traded briskly after its recent profit-driven jump, which offered another entry. Shares are above the three-week tight formation that showed a buy point at 398.89, while aggressive investors could have used a trendline entry around 386.

After the May 25 earnings-fueled gap-up, Nvidia shares have moved consistently higher. Amid a pullback since June 20, the stock is once again offering an opportunity to buy shares. It formed a trendline entry at 418 after the stock found support near its 21-day exponential moving average. Nvidia is an IBD Leaderboard stock.

Learn how to time the market with IBD’s ETF market strategy

Best stocks to buy and watch in stock market rally

Here are the top four stocks to buy and watch in the current stock market, including a Dow Jones leader.

Source: IBD data as of July 3, 2023

Join IBD experts as they analyze leading stocks in the current stock market rally on IBD Live

Tesla stock

IBD Leaderboard share Tesla extended a profit stretch to five sessions on Monday. Amid the recent upswing, Tesla shares remain well out of the buy range past the double bottom buy point of 207.79.

TSLA stock rose 6.9% on Monday after the company said it delivered more than 466,000 vehicles to customers around the world in the April-June period, a record quarter for sales. Price reductions and discounts drove demand well above Wall Street forecasts.

Dow Jones leaders: Apple, Microsoft

Among Dow Jones stocks, Apple stock faded from Friday’s all-time high of 194.48, falling 0.8% on Monday. Shares remain sharply above a buy point of 157.38.

Microsoft shares lost 0.75% on Monday, returning some of Friday’s gains. Still, the stock is just 4% off its all-time high on June 16 at 351.47.

In recent weeks, the stock hit the 20% to 25% gain zone from a 276.76 flat-base buy point, so investors could have at least taken some profit there.

Follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more information on growth stocks and the Dow Jones Industrial Average.

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Article originally posted on mongodb google news. Visit mongodb google news