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The Dow Jones Industrial Average rallied 130 points on Monday afternoon as the stock market extended last week’s big gains, sending major market indices to new highs.
X
The Nasdaq rose 0.5%, the Dow Jones industrialists by 0.4% and the S&P 500 added nearly 0.4% on the stock market today. Small caps followed by the Russell 2000 climbed 2%. Volume was mixed, lower on the NYSE but higher on the Nasdaq compared to same time Friday.
Stocks rebounded last week as Congress accelerated President Joe Biden’s $ 1.9 trillion stimulus package. House Speaker Nancy Pelosi said the bill would be passed by the end of the month. The current stimulus package expires in mid-March.
Treasury Secretary Janet Yellen told CBS on Sunday that the plan could return the United States to full employment by 2022. “We face a huge economic challenge here and enormous suffering across the country. need to fix it, ”Yellen said. “This is the biggest risk.”
On Friday, the Labor Department reported that the non-farm payroll in the United States increased by 49,000 last month, just below Econoday’s forecast of 50,000. Private payroll accounted for just 6,000 of those. jobs. The unemployment rate fell to 6.3% from 6.7% in December.
However, December’s job losses were revised down to 227,000.
Snapshot of the US Stock Market Today |
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|---|---|---|---|---|
| Index | symbol | Price | Loss of profit | % Change |
| Dow Jones | (0DJIA) | 31275.19 | +126.95 | +0.41 |
| S&P 500 | (0S and P5) | 3900.40 | +13.57 | +0.35 |
| Nasdaq | (0NDQC) | 13,924.95 | +68.65 | +0.50 |
| Russell 2000 | (IWM) | 225.98 | +4.33 | +1.95 |
| IBD 50 | (FFTY) | 47.43 | +0.82 | +1.76 |
Last updated: 13:20 ET 08/02/2021 |
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Tech stocks propelled the Nasdaq to a 43.6% gain in 2020 for its fifth best year in history. The S&P 500 rose 16.3% and the Dow Jones added 7.2% last year. Read The Big Picture for a detailed daily market analysis.
Covid-19 update
The Covid-19 pandemic continues to rock the U.S. economy, as nationwide lockdowns approach the one-year mark. But there are signs of hope as vaccinations roll out and the number of cases begins to level off in some states.
Coronavirus cases around the world are approaching 106.8 million with more than 2.3 million deaths, according to Worldometer. In the United States, cases topped 27.6 million with nearly 475,000 deaths.
Dow winners and losers
Disney (DIS) jumped 4% to a buy point of 183.50 on a five-week high volume flat basis. The shares remain in the potential buy range, which goes all the way to 192.68. Analysts expect the media and theme park giant to lose 33 cents a share on nearly $ 15.9 billion in revenue when it reported Thursday after the close.
Among the other top notch winners, Cisco (CSCO), Chevron (CLC) and Goldman Sachs (GS) grew by almost 2% each.
But Mcdonalds (MCD), Nike (OF) and Procter & Gamble (PG) dropped out about 1% each.
Outside the Dow
Twitter (TWTR) widened and rose nearly 2% in heavy trading to a new high. The title is on track to extend its winning streak to six. The shares remain in the potential buy range, which tops out at 59.02.
The messaging platform is expected to earn 29 cents a share on revenue of $ 1.18 billion when it reported Tuesday before the opening. That would represent a 16% increase in EPS year over year for a 17% increase in sales.
You’re here (TSLA) climbed 1.7% as it continues to trade closely near all-time highs. The electric vehicle maker revealed in an SEC filing that it bought $ 1.5 billion worth of Bitcoin. Tesla has announced plans to start accepting Bitcoin for payment soon. Bitcoin’s price was around $ 42,626, after hitting a record high of nearly $ 44,000 on the news.
Tesla is nearly 90% extended from a point of purchase 466 of a mug with handle. The EV giant is an IBD Leaderboard title.
Inside the 50
Innovative IBD 50 ETF (FFTY) Rises 1.6% to Record High, Thanks to Large Gains 1-800-Flowers (FLWS), 360 DigiTech (QFIN) and Nvidia (NVDA).
1-800-Flowers climbed 6% in twice normal trade to climb above a buy point of 32.88.
Digital turbine (APPS), also in the IBD 50, added nearly 2% to a new high. It is showing action after rising 54% last week. The stock clearly broke an upper channel line on a weekly chart. This break in the upper channel is a sign of price action at its peak.
Software, solar, oil and gas stocks led the gain among IBD’s 197 industry groups. But toy makers, casino operators and restaurant stocks have lagged behind.
Follow Nancy Gondo on Twitter at @IBD_NGondo
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