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The Dow Jones Industrial Average traded higher in today’s stock market, as major indices saw a late afternoon push towards the close. The Nasdaq composite cut past losses and traded higher, while the S&P 500 also held a gain.
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At the close of market, the Russell 2000 Small Cap Index was up 1.3%. The Nasdaq composite gained 1.2% after negative trading. The S&P 500 rose 1.7%, while the Dow Jones industrialists traded 1.4% higher. Volume was trading lower on the Nasdaq and higher on the NYSE from Thursday’s close, early data showed.
The Dow Jones initially rallied over 200 points on Friday. But stocks slowly reduced their gains, as the 10-year Treasury yield rose 3 basis points to 1.66%.
Snapshot of the US Stock Market Today |
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|---|---|---|---|---|
| Index | symbol | Price | Loss of profit | % Change |
| Dow jones | (0DJIA) | 32818.79 | +199.31 | +0.61 |
| S&P 500 | (0S and P5) | 3937.51 | +27.99 | +0.72 |
| Nasdaq | (0NDQC) | 12,960.98 | -16.70 | -0.13 |
| Russell 2000 | (IWM) | 217.69 | +1.03 | +0.48 |
| IBD 50 | (FFTY) | 43.10 | +0.05 | +0.12 |
Last updated: 3:06 PM EST 3/26/2021 |
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Meanwhile, the highly technological Nasdaq led to the downside. The major index was meeting resistance around its 50-day moving average and will need to rise above that area in order to return to a bullish path.
In the late afternoon, the major indices soared after a new impression on core inflation in the United States was softer than expected.
As for growth stocks, the Innovator IBD 50 ETF (FFTY) rose 1%. The ETF fell around 7% for the week and is trading near the 200 day line.
The growth-oriented index traded below the 50-day line after recovering this key area last week. The stocks leading the decline on Friday were of companies based in China Vipshop Holdings (VIPS) and 360 DigiTech (QFIN).
Chip Inventory Manager
Several semiconductor stocks outperformed the Nasdaq 100. Top performing companies included chip-based equipment companies such as ASML (ASML) and Applied materials (AMAT).
ASML shares broke through the 600 level and hit an all-time high of 619.94. ASML stock is up 13% so far this week.
Elsewhere, Applied Materials gained more than 6% in afternoon trading. It has been trading strongly above the 50 day line since last November and maintains a rating of 88 RS. The chip leader is an IBD SwingTrader share.
IBD 50 shares Integris (ENTG) also outperformed with a gain of over 4%. Entegris is currently forming a new consolidation with 114.10 purchase points. The stock has gained solid support at its 50 day line and stocks remain at 5% of the appropriate entry.
Dow Jones today
As for the Dow Jones, Cisco (CSCO), Intel (INTC) and Nike (NKE) led with gains of over 2.9% each. On the downside, the shares of Boeing (BA) and Disney (DIS) were down 0.9% or more. Goldman Sachs (GS) also led lower with a loss of 1.4%.
Intel shares gained more than 3% on Friday as stocks resisted declines from the start of the week. The chip stock traded below the 5% buy zone on a double basis with a buy point of 65.21 on Wednesday. Shares also briefly traded in the 7% to 8% sell zone on Thursday, but reversed higher on Friday.
Intel’s relative strength line, which has climbed in recent months, still remains below its peaks. Additionally, the RS rating of 47 remains well below the low of 80 that we like to see for growth stocks to burst.
Elsewhere, classification stock Microsoft (MSFT) maintained a 1% gain as it traded slightly below the 50 day line. Microsoft is a long-term leader in the IBD.
The stock is also near a 246.23 buy point from a new flat base, according to MarketSmith chart analysis. Microsoft stock is about 5% of entry.
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