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In overnight trade, Dow Jones futures, along with S&P 500 futures and Nasdaq 100 futures, remained relatively unchanged ahead of Tuesday's opening bell, as investors awaited the release of the October Consumer Price Index (CPI) inflation report. Market participants are closely monitoring the report for any indications of rising inflationary pressures and its potential impact on the stock market.

Among the stocks generating interest in the current market rally are tech giant Nvidia (NVDA) and software titan Microsoft (MSFT). These companies, along with others like Amazon (AMZN), MercadoLibre (MELI), ServiceNow (NOW), Intel (INTC), Walmart (WMT), and UnitedHealth (UNH), are among the top stocks recommended to buy and watch.

On Monday, the Dow Jones Industrial Average saw a slight increase of 0.2%, while the S&P 500 experienced a minor decline of 0.1%. The Nasdaq composite, heavily influenced by the technology sector, dipped 0.2%.

Tesla (TSLA), the electric-vehicle giant, saw a notable surge of 4.2% on Monday, while Nvidia also made gains of 0.6%. However, tech icons Apple (AAPL) and Microsoft traded lower during the stock market session, with AAPL stock down 0.9% and Microsoft shares slipping by 0.8%.

Ahead of Tuesday's market opening, Dow Jones futures, S&P 500 futures, and Nasdaq 100 futures remained relatively unchanged compared to their fair value. It's important to note that overnight action in futures markets does not always translate into corresponding trading activity during regular stock market sessions.

In terms of other market indicators, the 10-year U.S. Treasury yield inched higher on Monday, reaching 4.63%. Additionally, oil prices saw a rebound, with West Texas Intermediate futures closing above $78 per barrel.

For investors navigating the current stock market rally, IBD's The Big Picture column provides valuable insights into the stock market outlook. With the market in a confirmed uptrend, IBD recommends increasing market exposure to a range of 60% to 80% as the trend continues to strengthen. However, traders should brace themselves for potentially volatile market conditions this week, as key inflation reports are set to be released on Tuesday and Wednesday.

Investors seeking daily breakout opportunities can explore IBD MarketSmith's "Breaking Out Today" list, which highlights stocks from the MarketSmith Growth 250 that are breaking out past new buy points. The "Near Pivot" list in MarketSmith identifies stocks approaching buy points within bases.

To discover more stock ideas, investors can refer to IBD Stock Lists such as the IBD 50, Big Cap 20, and Stocks Near A Buy Zone. These lists identify bullish patterns and buy points that should be monitored regularly.

Among the Dow Jones stocks, Intel is currently within a buy range, while Walmart is also in a buy range according to MarketSmith chart analysis. Health care giant UnitedHealth is forming a handle in a significant consolidation, indicating a new buy point.

In terms of notable growth stocks to watch, Amazon recently crossed above its 50-day moving average, approaching a cup base's buy point. MercadoLibre, on the other hand, has added a handle to its forming cup base, altering its buy point. Nvidia, the graphics-chip giant, is currently within a buy range, while ServiceNow has just surpassed its buy range past a double-bottom pattern.

In today's stock market action, these stocks, along with others, are generating significant attention and are worth monitoring closely as the market unfolds.