The Dow Jones Industrial Average rose, but was off highs, in a mixed session where the bulls battled to overcome the bears. Boeing (BA) moved above a key technical benchmark. Salesforce.com (CRM) was another blue-chip stock that was performing well.
XMuch-hyped IPO stock Palantir Technologies (PLTR) plunged on a disappointing earnings report, while the Greyscale Bitcoin Trust (GBTC) was giving up its gains.
Electric-vehicle plays were mixed, with both Tesla (TSLA) and Nio (NIO) hitting reverse gear. Auto giant General Motors (GM) advanced.
The Covid-19 pandemic continues to roil the U.S. economy, as nationwide lockdowns approach the one-year mark. However, the rollout of vaccines is gathering pace, while the number of cases is beginning to plateau in some states.
The number of coronavirus cases in the U.S. has surpassed 28.3 million, with just shy of 500,000 deaths, according to Worldometer.
Nasdaq Reverses, S&P 500 Rallies
The Nasdaq was the worst-performing major index, falling around 0.2%. At-home exercise play Peloton Interactive (PTON) was the biggest laggard, falling 5%. JD.com (JD) was the best performer, rising more than 4%.
U.S. Stock Market Today Overview |
||||
|---|---|---|---|---|
| Index | Symbol | Price | Gain/Loss | % Change |
| Dow Jones | (0DJIA) | 31545.58 | +87.18 | +0.28 |
| S&P 500 | (0S&P5) | 3937.33 | +2.50 | +0.06 |
| Nasdaq | (0NDQC ) | 14064.50 | -30.97 | -0.22 |
| Russell 2000 | (IWM) | 226.11 | -1.15 | -0.51 |
| IBD 50 | (FFTY) | 48.95 | -0.24 | -0.49 |
Last Update: 2:52 PM ET 2/16/2021 |
||||
The S&P 500 was in positive territory, thought it was up a meager 0.1%. Royal Caribbean Cruises (RCL) turned in a noteworthy gain of around 10%. NRG Energy (NRG) was the worst performer, slipping almost 7%.
Volume was up compared with the same time Friday. It rose about 5% on the Nasdaq and about 28% on the NYSE.
The S&P sectors were mixed, with a roughly even split of winners and losers. Energy and financials were faring best.
Small caps were struggling, with the Russell 2000 falling by around 0.7%.
Growth stocks were also slapped lower by the bears, as the Innovator IBD 50 ETF (FFTY) gave back around 0.5%. 360 DigiTech (QFIN) was the top performer on the IBD 50, rising almost 9%.
Boeing Stock Helps Lift Dow Jones
The Dow Jones Industrial Average was the best-performing major index, rising around 0.3%.
Boeing stock managed to climb above its 50-day moving average as it posted a gain of more than 2%. Holding above this key technical benchmark will be important as it tries to close in on a consolidation pattern buy point of 244.18.
But it was Salesforce.com that was the index's leading performer. It was up almost 4%, and was trading in heavy volume. The stock is working on the right side of a 14-week consolidation with a 271.02 buy point, MarketSmith analysis shows. Salesforce reports Q4 earnings Feb. 25 after the close.
Walgreens Boots Alliance (WBA) was the biggest laggard in the Dow Jones, giving up more than 2%. Apple (AAPL) stock was also negative, slipping around 1.5%.
GBTC Stock Pares Gains As Bitcoin Soars
The price of Bitcoin slipped back after climbing above the record-high $50,000 mark. It had slipped back to around $48,500, according to CoinDesk.
Grayscale Bitcoin Trust pared some of its gains after rallying 6.6% to a record high early. It is currently up less than 3%. It is currently well clear of its 50-day line.
Palantir Stock Sinks
Palantir Technologies sunk lower after posting full-year 2021 revenue guidance that came in slightly below expectations.
It smashed through its 50-day moving average as it gave up around 11%. It was holding near session lows. The enterprise software stock had been trading just below a buy zone heading into earnings.
For full-year 2021, Palantir said it expects revenue growth of 30%, slowing from 2020's 47% growth. Analysts had predicted 2021 revenue growth of 31% to $1.406 billion.
However, the firm did forecast revenue growth of more than 45% for the current quarter ending in March. This was above analyst views for a rise of 35%.
Tesla Stock, Nio Hit Reverse
IBD Leaderboard stock Tesla was down almost 2%, though it was off lows. It is now sinking closer to its 50-day line. It fell as it emerged the firm is planning to open an electric-car manufacturing unit in southern India.
The U.S.-based electric-vehicle maker is said to be close to an agreement to locate its plant in Karnataka. Indian capital Bangalore is known as a tech hub. Plans include an R&D center and possibly an assembly plant.
Tesla's Chinese rival Nio also shifted into reverse, falling a more moderate 0.53%. Nio stock has been trying to clear a trend line, touching post-Jan. 11 highs. A previous breakout from a cup base with a 57.30 buy point failed.
Meanwhile, GM stock was falling back after a rally. It was basically flat. It broke out from a cup base Jan. 12 on positive EV news. The buy point was 46.81.
FIVN Stock Passes Buy Point
Customer service software stock Five9 broke out of a double-bottom base, but it is back below its buy zone. The ideal buy point is 184.08.
The stock has a near-perfect IBD Composite Rating of 97. Earnings are currently stronger than stock market performance.
Brazilian brokerage stock XP (XP) also broke out, passing a cup-with-handle buy point of 50.31. The stock is in a buy zone. Its RS line has been spiking of late.
XP stock holds a Composite Rating of 97. Earnings are much stronger than XP's stock market performance, with its EPS Rating a top-notch 98 out of 99.
Please follow Michael Larkin on Twitter at @IBD_MLarkin for more on growth stocks and analysis.
YOU MIGHT ALSO LIKE:
These Are The Best Robinhood Stocks To Buy Or Watch Now
Are These IBD 50 Growth Stocks On The Verge Of Climax Tops?
Get Full Access To IBD Stock Lists And Ratings
What's New In IBD Leaderboard? Check Out Top Growth Stocks Here
These Are The 5 Best Stocks To Buy And Watch Now
After Hours: 6 Key Earnings Reports As Apple, Tesla Test Support
"stock" - Google News
February 17, 2021 at 03:07AM
https://ift.tt/3dj1OBB
Dow Rallies As Bulls Battle Bears; Boeing Stock Makes Key Move; Bitcoin Play Pares Gains - Investor's Business Daily
"stock" - Google News
https://ift.tt/37YwtPr
https://ift.tt/3b37xGF
Bagikan Berita Ini
0 Response to "Dow Rallies As Bulls Battle Bears; Boeing Stock Makes Key Move; Bitcoin Play Pares Gains - Investor's Business Daily"
Post a Comment