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The Dow Jones Industrial Average fell in today’s stock market, after briefly turning positive. A midday surge that put indices in the green has faded leaving the market on track to close lower.
X
Stock exchange today
The Nasdaq composite fell 0.3%. The Dow Jones also recorded a loss of 0.3%, while the S&P 500 followed suit with a decline of 0.3%. The Russell 2000 Index showed a loss of less than 0.1%. Data showed lower volume on the NYSE and higher volume on the Nasdaq compared to the same time on Thursday.
The major indices remain on track to record a fifth consecutive day of losses on Friday. Silver moved into bonds, pushing the yield on 10-year US Treasuries to 1.34%. Meanwhile, crude oil prices rose with a gain of more than 2%, up nearly $ 70 a barrel.
Snapshot of the US Stock Market Today |
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|---|---|---|---|---|
| Index | symbol | Price | Loss of profit | % Switch |
| Dow jones | (0DJIA) | 34733.80 | -145.58 | -0.42 |
| S&P 500 | (0S & P5) | 4474.72 | -18.56 | -0.41 |
| Nasdaq | (0NDQC) | 15166.99 | -81.26 | -0.53 |
| Russel 2000 | (IWM) | 222.76 | -1.05 | -0.47 |
| MICI 50 | (FFTY) | 49.90 | -0.35 | -0.70 |
Last updated: 3:28 PM ET 9/10/2021 |
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President Joe Biden spoke by phone with Chinese President Xi Jinping on Thursday evening for the first time since February. A White House statement said that “the two leaders discussed the responsibility of the two nations to ensure that competition does not escalate into conflict.”
Data released on Friday showed that the producer price index rose 0.7% in July from the previous month. It also jumped 8.3% year-on-year, the biggest increase since November 2010. This suggests high inflation may persist as the pandemic puts additional pressure on global supply chains.
Dow Jones: Apple stock affected by antitrust lawsuit
In the Dow Jones, Apple (AAPL) and UnitedHealth (UNH) were among the worst performers with declines of more than 2% each.
Apple stock has reversed lower and is set to post a third straight day of losses. The action fell on Friday after a federal judge handed down a ruling largely on the side of developer “Fortnite” Epic Games. The judge issued a permanent injunction that allows app developers to use third-party payment options in apps.
Apple currently prohibits developers from providing links that direct users to Apple’s in-app purchases. This has a positive impact on application-oriented companies such as Spotify (PLACE), Zynga (ZNGA) and Roblox (RBLX), which increased by 1.9%, 2.3% and 7.7% respectively.
UnitedHealth has fallen well below its 50-day line. This was the first unsuccessful test of this key area of support since June. Stocks are now below a buy point of 422.63 of a handle cup.
During this time, Nike (DE) and Intelligence (INTC) resisted the downtrend and held gains of 0.9% and 1.3% each.
Growth stocks to watch
When it comes to major growth stocks in the stock market, the Innovator IBD 50 ETF (FFTY) traded up 0.3%, beating the major indices. The ETF traded above a buy point of 50.06. Securities outperforming in the included index Celsius Fund (CELH) and TaskUs (TASK), which gained more than 6% and 5% respectively.
Celsius Holdings, a manufacturer of fitness drinks, further expanded from the buying zone to an entry of 80.10. Stocks have gained momentum this week and are heading for a weekly gain of over 6%.
To affirm (AFRM) widened and climbed more than 35% in significant volume to its highest level since February. The stock posted strong earnings in the June quarter and gross merchandise volume that exceeded expectations as its expanding merchant base weathered slower growth. However, the company has reported four consecutive quarters of losses and is expected to suffer another annual loss.
The consumer finance company’s initial public offering in January raised $ 1.2 billion.
Follow Rachel Fox on Twitter at @foxonstocks for more information on the Dow Jones and the market.
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