The Dow Jones Industrial Average dropped Monday morning, as the price of Bitcoin surged over the weekend. Treasury yields took a breather following Friday’s jump, while U.S. oil extended losses to trade below $109 a barrel. Tesla stock raced higher on news that the company wants to split its stock in the form of a stock dividend.
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Among Dow Jones stocks, Apple (AAPL) fell more than 1% on reports that the company planned to cut production on some iPhones. Microsoft (MSFT) moved up 0.5% in today’s stock market. UnitedHealth (UNH), a Dow Jones stock to watch, finished Friday in buy range after a recent breakout.
Tesla (TSLA) rallied almost 5% early Monday, on pace to recover from Friday’s modest loss.
Amid the stock market’s strengthening uptrend, IBD Leaderboard stock Arista Networks (ANET), Broadcom (AVGO), European Wax Center (EWCZ), GlobalFoundries (GFS) and CVS Health (CVS) are among Monday’s top stocks to buy and watch.
Arista, Microsoft and Tesla are IBD Leaderboard stocks. European Wax featured in last week’s IPO Leaders column. And Broadcom was featured in last week’s Stocks Near A Buy Zone column.
Dow Jones Today: Treasury Yields, Oil Prices
After Monday’s market open, the Dow Jones Industrial Average fell 0.2%, while the S&P 500 move down 0.1%. The Nasdaq rose 0.1% in morning trade.
Among exchange-traded funds, the Nasdaq 100 tracker Invesco QQQ Trust (QQQ) rose 0.1%, and the SPDR S&P 500 ETF (SPY) was down 0.1% after Monday’s open.
The 10-year U.S. Treasury yield ticked down to 2.48% Monday following Friday’s surge to 2.49%. U.S. oil prices extended losses Monday morning, as West Texas Intermediate crude slid 7% to trade under $106 a barrel.
Bitcoin Price
The price of Bitcoin surged over the weekend and into Monday morning trade, topping $47,500 before easing. Bitcoin traded around $47,300 in early trade Monday, after ending Friday at $44,400, according to CoinDesk. Year to date, Bitcoin is up about 2%.
Cryptocurrency exchange Coinbase (COIN)…
