The Dow Jones Industrial Average traded higher in today’s stock market, while the major indices rose late in the afternoon at the close. The Nasdaq compound reduced previous losses and traded higher, while the S&P 500 also maintained a gain.
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At the close of the market, the Russell 2000 was up 1.3%. Nasdaq compound gained 1.2% after trading negative. The S&P 500 gained 1.7%, while the Dow Jones industrials traded 1.4% higher. The volume was trading lower on the Nasdaq and higher on the NYSE compared to Thursday’s close, according to the first data.
On Friday, the Dow Jones initially recovered more than 200 points. But stocks slowly slowed earnings, with 10-year Treasury yields rising 3 basis points, to 1.66%.
Overview of the US stock market today |
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|---|---|---|---|---|
| Index | Symbol | Price | Gain / Loss | % Change |
| Dow Jones | (0DJIA) | 32818.79 | +199.31 | +0.61 |
| S&P 500 | (0S and P5) | 3937.51 | +27.99 | +0.72 |
| Nasdaq | (0NDQC) | 12960.98 | -16.70 | -0.13 |
| Russell 2000 | (IWM) | 217.69 | +1.03 | +0.48 |
| IBD 50 | (FFTY) | 43.10 | +0.05 | +0.12 |
Last updated: 15h06 ET 26/03/2021 |
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Meanwhile, Nasdaq, with high technology, was leading on the downside. The main index was finding resistance around its 50-day moving average and will need to rise above that area to recover a bullish trajectory.
In late-afternoon trade, the main indices rose higher after a new impression on the core of inflation in the US came more mildly than expected.
As for growth stocks, the Innovator IBD 50 ETF (FFTY) was up 1%. The ETF fell about 7% in the week and is trading near the 200-day line.
The growth-focused index was trading below the 50-day line after recovering this key area last week. Shares leading the fall on Friday were China-based companies Vipshop Holdings (VIPS) and 360 DigiTech (QFIN).
Chip Stocks Lead
Several semiconductor stocks outperformed the Nasdaq 100. Best performers included chip equipment companies like ASML (ASML) and Applied Materials (AMAT).
ASML’s stock crossed the level of 600 and reached a high of 619.94. ASML shares are up 13% this week.
Elsewhere, Applied Materials gained more than 6% in the afternoon trade. 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 stock.
IBD 50 stock shares Entegris (ENTG) also surpassed with a gain of more than 4%. Entegris is currently forming a new consolidation with 114.10 points of purchase. The stock gained solid support in its 50-day line and the shares remain 5% far from the proper launch.
Dow Jones Today
As for the Dow Jones, Cisco (CSCO), Intel (INTC) and Nike (NKE) led with gains of more than 2.9% each. On the negative side, the shares of Boeing (BA) and Disney (DIS) fell 0.9% or more. Goldman Sachs (GS) also led on the negative side, with a loss of 1.4%.
Intel shares gained more than 3% on Friday, as the shares resisted declines from earlier this week. The chip stock traded below the 5% buying zone of a double-bottomed base with a buying point of 65.21 on Wednesday. The shares were also briefly traded in the 7% -8% selling zone on Thursday, but reversed higher on Friday.
Intel’s relative strength line, which has been rising in recent months, still remains out of its highs. In addition, the RS Rating of 47 remains well below the minimum of 80 that we would like to see for bursting growth stocks.
Elsewhere, scoreboard stock Microsoft (MSFT) had a gain of 1%, since it was traded just below the 50-day line. Microsoft is an IBD Long Term Leader.
The stock is also close to a buying point of 246.23 for a new flat base, according to analysis by the MarketSmith chart. Microsoft’s shares are about 5% of the entry.
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