[ad_1]
The stock market posted bullish gains in the late afternoon today, a day after the S&P 500 and Nasdaq compound marked new distribution days, marking a session of steep losses in higher volume. The best Dow Jones winners today included American Express (AXP), Honeywell (HON) and Boeing (BA), with gains of over 3%.
X
The Nasdaq 100 has served many big winners, including ranking stocks DocuSign (DOCU) and Illumina (ILMN), which is set to recover a buy point of 487.10.
Bitcoin has fallen below the $ 30,000 level, a key long-term support level, which could lead to even lower prices. Bitcoin was trading around $ 29,650, down more than 3%.
Dow Jones today
After falling below its 50-day moving average on Monday, the Dow Jones Industrial Average returned above the 50-day line on Tuesday, up 1.7%. The S&P 500 also rose 1.7% as it placed a good position at its 50-day line. The Nasdaq composite rose 1.9% and the iShares Russell 2000 ETF (IWM) jumped 3.5% after approaching its 200-day moving average on Monday.
Snapshot of the US Stock Market Today |
||||
|---|---|---|---|---|
| Index | symbol | Price | Loss of profit | % Switch |
| Dow jones | (0DJIA) | 34531.54 | +569.50 | +1.68 |
| S&P 500 | (0S & P5) | 4330.76 | +72.27 | +1.70 |
| Nasdaq | (0NDQC) | 14544.75 | +269.77 | +1.89 |
| Russel 2000 | (Etc.) | 219.08 | +7.35 | +3.47 |
| MICI 50 | (FFTY) | 43.45 | +1.37 | +3.26 |
Last updated: 3:48 PM ET 7/20/2021 |
||||
The stock market continues to focus on the 10-year Treasury yield, which hit a low of 1.13% earlier in the session. But the yield rebounded to 1.21% in afternoon trading as silver rolled out of bonds and headed for stocks.
When the 10-year rate peaked at 1.76% in March, the bond market worried about inflation. Now the bond market is worried about the possibility of an economic slowdown as coronavirus cases increase due to the spread of the Delta variant.
IBM (IBM) topped the Dow Jones early in the session after the company reported second-quarter earnings, but a 5% intraday gain faded to 1.8% after IBM was denied its 50-day moving average.
Goldman Sachs (GS), Apple (AAPL) and Walt disney (DIS) posted gains of over 2%.
Outside the Dow Jones
Growth stocks were significantly higher, which helped push the Innovator IBD 50 ETF (FFTY) up to a gain of 2.6%. Top winners of the IBD 50 index of leading growth stocks included Horizon line champion (SKY), which offers prefabricated and modular homes. It does a solid first test of its 10-week moving average after breaking out after a short consolidation in late May.
DocuSign (DOCU) and Bill.com (BILL) also outperformed in the IBD 50.
Inside the MarketSmith Growth 250, hospital operator HCA Health (HCA) was near session highs after a spread in earnings. Prior to Monday, HCA was just above a buy point of 217.46, but the stock now looks extended. Peer of the group Health principle (THC) rose 8% and passed a buy point of 70.85. The results are expected after the close on Wednesday.
The best tech stocks to buy or watch now
Year (ROKU) rose 2.5%. He’s back above level 400 and remains an ideal candidate as he forms a cup with a handle base.
AutoNation (AN) did follow Monday’s breakout to a decent buy point of 107.09. Peer of the group Carvana (CVNA) added 4%. The stock is just below an entry of 329.20. CarMax (KMX) increased 4% and is just below an entry of 137.63 in a 12 week cup with handle.
After the close, watch for the gains of Mexican Grill Chipotle (CMG), Intuitive surgery (ISRG) and Netflix (NFLX).
Follow Ken Shreve on Twitter @IBD_KShreve for more stock market analysis and outlook.
YOU MAY ALSO LIKE:
See which stocks are in the ranking portfolio
Learn how to time the market with IBD’s ETF Market Strategy
Find the best long-term investments with IBD’s long-term leaders
MarketSmith: research, charts, data and coaching in one place
How to research growth stocks: why this IBD tool makes it easy to find the best stocks
[ad_2]
Source link