Key market indexes reversed from early losses to close higher Tuesday, as the Dow Jones Industrial Average swung from a 100-point loss to a 100-point gain.
XThe Nasdaq rose 0.5%, the Dow Jones industrials gained 0.3% and the S&P 500 added nearly 0.3% in the stock market today. Small caps tracked by the Russell 2000 outperformed, up 1.4%. Early data show mixed volume, lower on the NYSE but higher on the Nasdaq, vs. Monday.
Tech stocks have boosted the Nasdaq to a 40% gain this year, while the S&P 500 is up 15%. The Dow is up 6%, and the Russell 2000 has advanced nearly 15%. Read The Big Picture for detailed daily market analysis.
The market has been in new high ground after some recent volatility. On Nov. 4, after Election Day, the market outlook returned to "confirmed uptrend" as the major indexes staged big rallies. That gives the green light to buy leading stocks that are breaking out of solid bases.
Covid-19 Update
Meantime, Covid-19 cases continue to rise globally. Worldwide cumulative coronavirus cases are approaching 68.3 million, with nearly 1.6 million deaths, according to Worldometer. In the U.S., confirmed cases since the beginning of the pandemic have now topped 15.4 million, with a death toll over 291,000.
U.S. Stock Market Today Overview |
||||
|---|---|---|---|---|
| Index | Symbol | Price | Gain/Loss | % Change |
| Dow Jones | (0DJIA) | 30174.40 | +104.61 | +0.35 |
| S&P 500 | (0S&P5) | 3702.20 | +10.24 | +0.28 |
| Nasdaq | (0NDQC ) | 12582.77 | +62.82 | +0.50 |
| Russell 2000 | (IWM) | 190.78 | +2.40 | +1.27 |
| IBD 50 | (FFTY) | 40.19 | +0.31 | +0.78 |
Last Update: 4:18 PM ET 12/8/2020 |
||||
In Covid-19 vaccine news, Pfizer (PFE) rose 3.2% in healthy trade to extend its advance for a third straight session. The stock is trading at its highest level since August 2019, as the U.K. begins distributing Pfizer and partner BioNTech's (BNTX) vaccine to citizens.
The U.S. Food and Drug Administration in documents posted on its website concluded the vaccine "met the prescribed success criteria" in a clinical study. An advisory committee meets Thursday to discuss the benefits and risks of the vaccine, then vote on whether to recommend authorization. BioNTech climbed 1.9% to a new closing high.
Moderna (MRNA), whose vaccine is scheduled for FDA review on Dec. 17, rallied 6.5% to a new closing high. The biotech's stock is sharply extended after clearing a base last month.
Dow Winners And Losers
Dow Inc. (DOW) led the Dow Jones index with a 2.5% gain, while Johnson & Johnson (JNJ), Travelers (TRV), 3M (MMM) and Amgen (AMGN) added over 1% each.
Apple (AAPL) climbed 0.5% and remains in potential buy range from an aggressive early entry of 122.09. Another early entry is up ahead at 125.49, while the conventional buy point is at 138.08, according to MarketSmith chart analysis. Apple stock has rallied nearly 70% this year.
Walgreens Boots Alliance (WBA) and Boeing (BA), down about 1% apiece, were among the few losers.
Steel, energy and security software stocks led the upside among IBD's 197 industry groups. Travel booking and building-related stocks lagged.
Security software maker Zscaler (ZS) jumped nearly 4% in above-average volume. The MarketSmith Growth 250 stock gapped up sharply last week after the company reported strong quarterly results. It also guided higher for current-quarter revenue and in line for EPS. Zscaler joined Leaderboard last week.
Also in the security software group, Palo Alto Networks (PANW) added 2% to a new high.
EV Makers Motor On
Among automakers, Tesla (TSLA) skidded nearly 4% before reversing to a 1.3% gain. Shares are well extended from a 466 buy point of a cup with handle. Tesla is an IBD Leaderboard stock.
Early Tuesday, the electric-vehicle maker announced plans to raise $5 billion in a share offering. Meantime, the China Passenger Car Association said Tesla sales in China surged to 21,604 vehicles in November from 12,145 in October.
Rival Nikola (NKLA) advanced 2.6% to recoup a tiny part of last week's 32% drop. Shares dived after General Motors (GM) revised an earlier agreement to supply Nikola with EV chassis and eliminated a prior commitment to take an 11% stake in the company.
China EV makers Nio (NIO) and Li Auto (LI) rose a respective 3.1% and 5.8%.
Stitch Fix (SFIX) gapped up and soared nearly 40% in huge volume after reporting much better than expected fiscal Q1 earnings late Monday. It also beat sales views. The personalized online shopping platform reported an adjusted profit of 9 cents per share on revenue of $490.4 million.
The Innovator IBD 50 ETF (FFTY) advanced 0.7% to a one-month high. Biggest winners included Etsy (ETSY), Dynatrace (DT), Cerence (CRNC) and Palo Alto Networks.
D.R. Horton (DHI), Builders FirstSource (BLDR) and Tempur Sealy (TPX) were among the biggest losers.
Follow Nancy Gondo on Twitter at @IBD_NGondo
YOU MAY ALSO LIKE:
Coronavirus Stock Sets Up New Potential Entry
Best Growth Stocks To Buy And Watch
IBD Live: Learn Top Chart-Reading And Trading Techniques From The Pro
Start Building Your Watchlist Now: Find Top Stocks In Leaderboard Today
"stock" - Google News
December 09, 2020 at 04:36AM
https://ift.tt/3gokmQo
Dow Jones Gains As Stock Market Reverses Higher On Coronavirus Vaccine Hopes - Investor's Business Daily
"stock" - Google News
https://ift.tt/37YwtPr
https://ift.tt/3b37xGF
Bagikan Berita Ini
0 Response to "Dow Jones Gains As Stock Market Reverses Higher On Coronavirus Vaccine Hopes - Investor's Business Daily"
Post a Comment