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The Dow Jones Industrial Average gained 250 points on Monday as the Pfizer Covid-19 vaccine received full FDA approval. Bitcoin crossed $ 50,000 for the first time in three months. And Tesla stock appeared to rise for a second straight session, as Nvidia passed a new buy point.
X
Among the leaders of the Dow Jones, Apple (AAPL) rose 0.3% on Monday, while Microsoft (MSFT) was down 0.25% in today’s stock market. Home deposit (HD) remains below a recent buy point as it rebounds from a key support level.
You’re here (TSLA) ran more than 3% higher on Monday morning, seeking to add to Friday’s 1% gain. The electric vehicle giant remains below a recent point of purchase.
Among the best stocks to buy and watch, Free market (MELI), Nvidia (NVDA) and Shopify (SHOP) are in or near new shopping areas.
Mercado Libre, Microsoft and Tesla are stocks in the IBD ranking. Nvidia is an IBD SwingTrader share. Shopify was listed in the Stocks Near A Buy Zone column last week.
Dow Jones today: Pfizer vaccine against Covid-19
The Dow Jones Industrial Average rose 0.8% on Monday morning, while the S&P 500 traded up 1%. The highly technical Nasdaq composite gained 1.3% at midday.
Early Monday, the Covid-19 vaccine from Pfizer (PFE) and BioNTech (BNTX) has received full approval from the FDA. The Food and Drug Administration’s clearance on Monday, for people 16 and older, is the agency’s first full approval of a Covid-19 vaccine. The decision was expected this week, the Wall Street Journal and other news outlets reported.
Pfizer jumped more than 3%, while BNTX stock rose more than 10%.
Snapshot of the US Stock Market Today |
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|---|---|---|---|---|
| Index | symbol | Price | Loss of profit | % Switch |
| Dow jones | (0DJIA) | 35367.47 | +247.39 | +0.70 |
| S&P 500 | (0S & P5) | 4477.59 | +35.92 | +0.81 |
| Nasdaq | (0NDQC) | 14882.89 | +168.23 | +1.14 |
| Russel 2000 | (IWM) | 218.04 | +2.52 | +1.17 |
| MICI 50 | (FFTY) | 46.31 | +1.01 | +2.23 |
Last Modified: 10:34 AM ET 8/23/2021 |
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Among exchange-traded funds, the Innovator IBD 50 (FFTY) rose 1.8% on Monday. The Nasdaq 100 tracker Invesco QQQ Trust ETF (QQQ) gained 1%. Meanwhile, the SPDR S&P 500 ETF (SPY) climbed 0.8%.
Stock exchange rally
The three major stock indexes – the industrials Dow Jones, the Nasdaq and the S&P 500 – continued to rebound from their 50-day support levels on Monday. The Nasdaq and S&P 500 have sought to extend their winning streak to three sessions.
Friday’s Big Picture noted a bullish rationale amid last week’s volatility. “Stock market bears might worry about the shrinking Nasdaq scale, the Fed’s plans and the capricious action of many leading growth stocks. But the bulls certainly have reason to feel well in the face of the uptrend Bullish sentiment fell earlier in the week when Investors Intelligence’s weekly survey of stock market newsletters fell to 51.1% from 56.4%.
For more stock market commentary, check out The Big Picture from IBD.
Stock ETF strategy and how to invest
Bitcoin price
The price of Bitcoin climbed more than 2% on Monday morning, topping $ 50,000 for the first time in three months. According to Coindesk, the price of Bitcoin was trading around $ 50,200 at the start of trading.
The Grayscale Bitcoin Trust ETF (GBTC) rose 3% on Monday, but remains around 30% of its all-time high, which was pulled back on February 19.
Cryptocurrency exchange Coinbase (COIN) increased 2% in morning exchanges. COIN stock found support at its 50-day line on Thursday, but is still around 40% of its 52-week high.
Dow Jones Stocks to Buy and Watch: Home Depot
Home Depot stock is below the buy point of 333.55 by a cup with a handle after last week’s profit sell-off.
Shares rose 0.4% on Monday morning, seeking to extend a four-session winning streak, but are still just below the buy point. The stock has found much needed support at its 50-day line.
Stocks to buy and watch: Mercado Libre, Nvidia, Shopify
IBD Leaderboard stock and Wednesday’s IBD stock, Mercado Libre, rose nearly 1% on Monday morning. Latin America’s largest e-commerce company continues to chart a mug with handle with a point of purchase of 1,899.43. MELI stock holds just above a buy point of 1,755.05 created by the August 5 earnings spread.
IBD SwingTrader Nvidia stock is in the buy range above a buy point of 207.43, according to IBD MarketSmith chart analysis. The chart can also be interpreted as a flat base with a buy point of 208.85. Nvidia shares exceeded this buying point on Monday morning, gaining nearly 3% at the start of the session. The chip giant was among the IBD shares on Thursday.
Shopify is below a buy point of 1,499.85 in a cup base and has dropped potential support at its key 50-day moving average. Shares rose about 1% on Monday. The IBD stock balance sheet shows the stock SHOP with a strong composite IBD rating of 95 out of a perfect rating of 99. The IBD composite rating identifies stocks exhibiting a mix of strong fundamental and technical characteristics.
Tesla shares
Tesla shares rose more than 3% on Monday morning. Stocks remain modestly below an aggressive buy point of 700.10 in the depths of a correction. Meanwhile, a wide and deep base continues to take shape.
On January 25, Tesla stock hit a record high at 900.40, after climbing 93% from a buy point of 466 in a handle mug.
Dow Jones Executives: Apple, Microsoft
Among the top stocks in the Dow Jones, IBD SwingTrader Apple stock rose 0.3% on Monday, seeking to extend a three-session winning streak. Apple stock is back above a 148 trendline buy point. The stock hit an all-time high on Aug. 18 at 151.68 before reversing lower.
Software giant Microsoft lost 0.2% early Monday, easing from new highs on Friday. Microsoft is about 15% above the base cup buy point of 263.29.
Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen to learn more about growth stocks and the Dow Jones Industrial Average.
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