The stock market was mixed in afternoon trading Monday. The Dow Jones Industrial Average was down 0.6%, hurt by weakness in Intel (INTC). Intel stock fell on reports that Apple (AAPL) will introduce new chips designed to top the fastest Intel chips.
XThe Nasdaq composite led the way, up 0.3%, helped by a strong showing from Leaderboard stock Adobe (ADBE), which reports earnings Wednesday. FAANG stocks Apple and Facebook (FB) also outperformed in the Nasdaq 100. Apple stock popped above its recent high of 121.99 and now has its sights set on another high of 125.39. Facebook, meanwhile, is eyeing a 297.48 buy point.
The S&P 500 eased 0.3% and the Russell 2000 small-cap index gave back 0.2%. Volume on the NYSE and Nasdaq was lower compared with the same time Friday.
U.S. Stock Market Today Overview |
||||
|---|---|---|---|---|
| Index | Symbol | Price | Gain/Loss | % Change |
| Dow Jones | (0DJIA) | 30038.68 | -179.58 | -0.59 |
| S&P 500 | (0S&P5) | 3687.98 | -11.14 | -0.30 |
| Nasdaq | (0NDQC ) | 12508.55 | +44.32 | +0.36 |
| Russell 2000 | (IWM) | 188.11 | -0.09 | -0.05 |
| IBD 50 | (FFTY) | 39.83 | +0.16 | +0.40 |
Last Update: 2:46 PM ET 12/7/2020 |
||||
Three marijuana stocks continue to trade well after nice gains. After a breakout from a base in early November, Canopy Growth (CGC) is trading tightly near its 10-day moving average. GrowGeneration (GRWG) is also holding near highs after a Nov. 5 breakout. Same with Innovative Industrial Properties (IIPR).
The stock market remains in a confirmed uptrend, according to Friday's The Big Picture column. And the distribution day count is still manageable, with three on the S&P 500 and one on the Nasdaq composite. Scant signs of institutional selling in the Nasdaq and S&P 500 have made it a relatively easy environment for stocks to make headway.
Dow Jones Gainers
Boeing (BA) led the Dow Jones today, up 3%. Earlier today, UBS upgraded Boeing stock to buy from neutral and raised Boeing's price target to 300 from 150.
Salesforce.com (CRM) was on pace for its third straight gain after gapping down last week on earnings. But CRM stock is damaged goods at this point, with an Accumulation/Distribution Rating of D- and up/down volume ratio of 0.8.
Among the best ETFs, Innovator IBD 50 (FFTY) added 0.5%. One top gainer in the IBD 50 index of leading growth stocks was Futu Holdings (FUTU). The China-based online brokerage recently pulled back but held support near the 40 level. The pullback also coincided with a test of a prior buy point of 41.09. Shares were up nearly 5% to 43 in late afternoon trading.
In other stock market news, the iShares Expanded Tech-Software Sector ETF (IGV) was up 0.4%, and the VanEck Vectors Semiconductor ETF (SMH) gained 0.4%.
MarketSmith Growth 250 Movers
The MarketSmith Growth 250 served up a breakout from Skyworks Solutions (SWKS). The 5G chipmaker and Apple supplier popped above a 151.99 buy point, rising nearly 2% to 152.90. The 5% buy zone goes up to 159.59.
Why This IBD Tool Simplifies The Search For Top Stocks
Also in the MarketSmith Growth 250, Ubiquiti (UI) outperformed with a 2% gain. The stock is holding gains well after gapping up on earnings in November.
Carvana (CVNA) was another strong mover, up nearly 6% to 256.91. The stock has recovered nicely after Wednesday's sell-off. Carvana's weekly chart shows a 252.46 entry.
Follow Ken Shreve on Twitter @IBD_KShreve for more stock market analysis and insight.
YOU MAY ALSO LIKE:
IBD 50 Stocks To Watch: Asset Manager Boasts Big Dividend, Bullish Chart
Best Growth Stocks To Buy And Watch
IBD Digital: Unlock IBD's Premium Stock Lists, Tools And Analysis Today
Big Winner In 2020 Tests Buy Area Ahead Of Earnings
After Hours: Two Stocks Jump On Earnings; Tesla Sales In Focus
Article From & Read More ( Dow Jones Falls 200 Points, Weighed Down By Intel; Nasdaq Led By Apple, Facebook, Adobe; 3 Marijuana Stocks To Watch - Investor's Business Daily )https://ift.tt/3oqvwXw
Business
Bagikan Berita Ini
0 Response to "Dow Jones Falls 200 Points, Weighed Down By Intel; Nasdaq Led By Apple, Facebook, Adobe; 3 Marijuana Stocks To Watch - Investor's Business Daily"
Post a Comment