Stocks were mixed midday Monday, as the Dow Jones Industrial Average turned negative after an early 152-point rally to a new high. Airlines soared as bookings improve.
XThe Nasdaq held a 0.1% gain, while the Dow Jones industrials and the S&P 500 edged 0.2% lower in the stock market today. Small caps tracked by the Russell 2000 fell 0.4%. Volume was running higher on both major exchanges vs. the same time Friday.
Tech stocks boosted the Nasdaq to a 43.6% gain in 2020 for its fifth best year ever. The S&P 500 rose 16.3% and the Dow added 7.2% last year. After a strong start this year, the market is now rebounding from a short correction. Read The Big Picture for detailed daily market analysis.
The Covid-19 pandemic continues to roil the U.S. economy, as nationwide lockdowns approach the one-year mark. But many states are relaxing restrictions, and there are signs of hope as vaccinations roll out and cases start to plateau in some states.
U.S. Stock Market Today Overview |
||||
|---|---|---|---|---|
| Index | Symbol | Price | Gain/Loss | % Change |
| Dow Jones | (0DJIA) | 32730.38 | -48.26 | -0.15 |
| S&P 500 | (0S&P5) | 3937.24 | -6.10 | -0.15 |
| Nasdaq | (0NDQC ) | 13338.79 | +18.93 | +0.14 |
| Russell 2000 | (IWM) | 233.36 | -0.23 | -0.10 |
| IBD 50 | (FFTY) | 47.01 | -0.01 | -0.02 |
Last Update: 12:12 PM ET 3/15/2021 |
||||
Cumulative Covid-19 cases worldwide have topped 120 million, with nearly 2.7 million deaths, according to Worldometer. In the U.S., cases have surpassed 30 million with more than 547,000 deaths, although the number of new cases in the U.S. has slowed dramatically in recent weeks.
Dow Winners And Losers
The biggest Dow Jones gainers early Monday included Apple (AAPL), Merck (MRK) and Nike (NKE).
Apple rose 2% early, but pared its gain to 1%. It's now entering its fifth week below the 10-week average. Last week shares tested the 40-week line. On Feb. 18, Apple stock triggered the 7%-8% loss-cutting sell rule when it fell more than 7% below a 138.89 buy point of a cup with handle.
Merck, also up 2% in heavy volume, is trying to retake its 10-week line. The drugmaker and Gilead Sciences (GILD) announced they will jointly develop long-acting treatments for HIV. They will combine Gilead's lenacapavir and Merck's islatravir into a two-dose drug regimen.
Nike ran up 2.5% in fast turnover. Nike stock is approaching a 148.05 buy point in a flat base, according to IBD MarketSmith chart analysis. Shares are about 3% away from the buy point, following last week's 5% advance. Nike reports earnings late Thursday.
3M (MMM), up 1%, briefly climbed past a 187.37 buy point of a flat base before paring its gain. It's advanced nearly 7% this year, but a 34 Relative Strength Rating means 3M is trailing 64% of all other stocks.
The biggest Dow losers included Chevron (CVX) and Dow Inc. (DOW), off more than 2% each.
Outside The Dow
Oil and gas, steel and bank stocks led the downside among IBD's 197 industry groups. But apparel retailers, airlines and other travel stocks outperformed.
In the airline group, United Airlines (UAL) soared 8% in fast turnover to a one-year high. Shares are nearly 20% extended from a 51.41 buy point of a cup base. The Chicago-based carrier said it's seen increased travel bookings and it "expects core cash flow to be positive moving forward" if that improvement continues.
American Airlines (AAL) and JetBlue Airways (JBLU) rose more than 5% each to pre-coronavirus market crash levels. Airlines, hotels and other travel stocks have staged a recent rally as coronavirus cases plateau.
Virtu Financial (VIRT) broke out past a 29.86 buy point of a six-week flat base early Monday, before paring gains to slip below the entry. Shares were up about 0.5% at midday. The stock quotations provider's 90 Composite Rating puts it fifth in the 53-stock specialty financial services group. A 98 Earnings Per Share Rating, part of the overall composite score, leads the group.
Drugmaker Dives
Eli Lilly (LLY) gapped down and plunged more than 8% in massive trade, breaching its 50-day moving average for the first time since December. The stock tumbled below the bottom of a flat base with a 218.10 buy point. At 12% below the left-side high, it's still technically in flat-base range. But the sharp break of the 50-day line is a sell signal.
The drugmaker on Saturday released more details from a Phase two study of its donanembab Alzheimer's disease drug. But some secondary goals were mixed.
Caesars Entertainment (CZR), Generac (GNRC), NXP Semiconductors (NXPI) and Penn National Gaming (PENN) rallied late Friday on news that they will join the S&P 500 index March 22 before the open.
Generac is an IBD Leaderboard and IBD 50 stock. Generac last week rebounded off its 10-week line to set up a chance to buy. But it's now extended from the follow-on entry. Shares have also reached the 20%-25% profit target from a 234.65 flat-base buy point, so investors could lock in some gains.
Follow Nancy Gondo on Twitter at @IBD_NGondo
YOU MAY ALSO LIKE:
Will This Top FinTech Deliver Triple-Digit Profit Gains?
Find Today's Best Growth Stocks To Watch With IBD 50
Learn How To Time The Market With IBD's ETF Market Strategy
See Stocks On The List Of Market Leaders With IBD Leaderboard
"stock" - Google News
March 16, 2021 at 12:14AM
https://ift.tt/3cD8us3
Dow Jones Reverses Off New High As Stock Market Falters; Why Airlines Are Soaring - Investor's Business Daily
"stock" - Google News
https://ift.tt/37YwtPr
https://ift.tt/3b37xGF
Bagikan Berita Ini
0 Response to "Dow Jones Reverses Off New High As Stock Market Falters; Why Airlines Are Soaring - Investor's Business Daily"
Post a Comment