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The Dow Jones Industrial Average gained as the Nasdaq rebounded in a session where stocks looked for direction. Airlines shares took off on bullish reservations data, while Apple (AAPL) and Nike (NKE) were the best blue chips.
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However, a Covid vaccine has been suspended in major European countries, including Germany and France, due to concerns over blood clots.
Delta Airlines (OF), American Airlines (AAL) and United Airlines (UAL) have all recorded strong increases with the return of travelers to the sky. Among the EV actions, You’re here (TSLA) increased slightly even as Nio (NIO) hit back.
Germany and France suspend vaccine
The biggest nations in the EU on Monday decided to suspend deployments from Oxford-AstraZeneca (AZN) Covid vaccine. Germany, France, Spain and Italy made the move after a series of incidents in Europe involving blood clots. AstraZeneca shares remained stable.
While the World Health Organization says there is no evidence that the vaccine, which is not approved for use in the United States, caused the incidents, EU countries have decided to wait for the security checks to be carried out. A number of small European countries, including Denmark, the Netherlands and Norway, had already suspended the blow.
Meanwhile, the yield on 10-year Treasuries retreated somewhat, but remained above the 1.6% mark. Yields move inversely with bond prices.
The federal open market committee is due to meet on Tuesday and Wednesday. Investors will be looking to see if this changes his outlook on interest rates. Federal Reserve Chairman Jerome Powell could take a more proactive tone to allay market concerns.
Nasdaq rallies; S&P 500 Flat
The Nasdaq managed to come out of the red and was the best performing major index. It rose by a slim 0.3%. NXP semiconductors (NXPI), which comes on top of the S&P 500, was the best performer, up almost 8%.
Snapshot of the US Stock Market Today |
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|---|---|---|---|---|
| Index | symbol | Price | Loss of profit | % Change |
| Dow jones | (0DJIA) | 32,797.83 | +19.19 | +0.06 |
| S&P 500 | (0S and P5) | 3942.73 | -0.61 | -0.02 |
| Nasdaq | (0NDQC) | 13347.80 | +27.94 | +0.21 |
| Russell 2000 | (IWM) | 233.85 | +0.26 | +0.11 |
| IBD 50 | (FFTY) | 47.13 | +0.11 | +0.23 |
Last updated: 13:14 ET 15/03/2021 |
||||
The S&P 500 was barely in the green. Apart from the actions of the airlines, Difference (GPS) achieved the best results with a gain of almost 7%.
The volume was higher compared to the same time on Friday. Trading rose about 13% on the Nasdaq and 3% on the NYSE.
S&P sectors were mixed, with utilities and real estate leading the way. The biggest laggards were finance and energy.
Small caps fought back, although the Russell 2000 only rose 0.1%.
Growth stocks managed to come out of the red, with the Innovator IBD 50 ETF (FFTY) up around 0.3%.
Apple stocks as Dow Jones rises
The Dow Jones Industrial Average returned to positive territory after spending much of the session in the red. It posted a gain of less than 0.1%.
Apple stock was among the top performing components, rising around 1.3%. This allowed the stock to move further away from its 200-day moving average.
His next goal will be to resume his 50-day line. It slipped below benchmark after a failed breakout in the base of the cut, according to MarketSmith analysis.
Nike performed even better, posting a gain of around 3%. The Nike stock forms a new basis. The flat base offers a buy point of 148.05.
Nike’s results are due Thursday. One approach outlined by the Investor’s Business Daily is to use options as a strategy to reduce risk around earnings.
Airline stocks take off thanks to increase in bookings
Airlines shares took off after carriers reported higher bookings, while the Transportation Security Administration said controls reached their highest level in a year.
The TSA said it examined more than 1.34 million people on Sunday. That’s 86,000 more people than on the same day last year, but 45% less than on the same date in 2019.
Delta Air Lines and JetBlue Airways (JBLU) said bookings increased this month as more people get vaccinated. Delta Air Lines grew by around 3%. JetBlue increased by more than 5%. American Airlines jumped over 7% and United Airlines did even better, rising over 8%.
Southwest Airlines (LUV) showed a more marginal gain of around 1.5%.
As airline stocks recover, overall traffic levels, or paid passenger miles, remain well below pre-pandemic levels. Business travel in particular is expected to lag behind the rebound in leisure travel as more people work from home.
Today’s IBD stock is approaching the point of purchase
Materials applied (AMAT) is the IBD action of the day as a new point of purchase approaches.
The company plans to hold an Investor Day on April 6, during which the updated long-term forecast could be a catalyst for AMAT stock.
AMAT stock bounced off the 10 week line last week, a bullish signal. The 10 week line represents the average closing price over the last 10 weeks of trading.
Demand for chips for cloud computing data centers, 5G wireless handsets and automobiles has boosted sales of its equipment. Demand for flat panel display equipment, however, has been weak.
To learn more about the AMAT stock, check out Monday’s Stock Today section here.
Tesla Stock Rallies, Nio Stock is reversed
Tesla stock rebounded again, posting a gain of around 1.5%. This comes after collecting 16% last week.
Tesla’s RS line is improving after a recent drop, and the stock is returning to its 50-day moving average.
Tesla stock previously collapsed on its 50-day line, but a good overall performance means it holds a composite rating of 94. Tesla stock’s recent poor performance has caused it to lose its place in the market. ranking.
However, his Chinese rival Nio backed down, dropping almost 2%. He’s taking a break after gaining over 19% last week.
The Nio stock remains stuck below its 50 day moving average, but is now well away from its 200 day line. The stock collapsed after a breakout of a failed entry of 57.30.
Please follow Michael Larkin on Twitter at @IBD_MLarkin to learn more about growth stocks and analysis.
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