The Dow Jones Industrial Average rebounded after Treasury Secretary Janet Yellen defended further stimulus to the coronavirus, although it did lessen gains. about that Caterpillar (CAT) was the leading chip leading as Microsoft (MSFT) took a dip. A handful of travel stocks also exceeded purchase points.
X
Among the EV actions, Tesla (TSLA) continued to reverse downward, Chinese rival Nio (NIO) stagnated and General Motors (GM) is in gear.
The surge comes after Yellen said more stimulus is needed. She said President Joe Biden’s $ 1.9 trillion coronavirus relief package will help small businesses and help the United States return to full employment in a year.
“I think the price of doing little is much higher than doing something big,” she told CNBC. We believe that the benefits will far outweigh the long-term costs. “
Covid-19 continues to take its toll. In the United States, cases already exceed 28.5 million, with more than 505,000 deaths, according to the Worldometer.
Nasdaq, S&P 500 Stall
Nasdaq hit negative territory after reversing. However, its losses were less than 0.1%. the Facebook (FB) was the biggest laggard, falling more than 3%.
The S&P 500 also reversed down after being positive for most of the session. It fell about 0.1%. Hologic (HOLX) had the worst performance, falling almost 7%.
Overview of the US stock market today |
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|---|---|---|---|---|
| Index | Symbol | Price | Gain / Loss | % Change |
| Dow Jones | (0DJIA) | 31547.99 | +54.65 | +0.17 |
| S&P 500 | (0S and P5) | 3910.83 | -3.14 | -0.08 |
| Nasdaq | (0NDQC) | 13,866.20 | +0.84 | +0.01 |
| Russell 2000 | (IWM) | 224.81 | +4.22 | +1.91 |
| IBD 50 | (FFTY) | 48.79 | +0.93 | +1.94 |
Last update: 13h20 ET 19/02/2021 |
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The volume was slightly higher compared to the same time as Thursday. It rose about 6% on the Nasdaq and less than 1% on the NYSE.
The S&P sectors were a mix, with a balance of winners and losers. Industrial products and materials were doing better.
Small caps were exceeding the main indexes. The Russell 2000 rose more than 2%, although outside the session highs.
Growth stocks were also doing well amid the rise, with the Innovator IBD 50 ETF (FFTY) bursting by almost 2%. Gains were also declining, however.
Microsoft shares fall as Dow Jones rises
The Dow Jones Industrial Average was doing better than the other major indices. He was managing to stay positive and went up about 0.1%.
Microsoft was a notable laggard, falling about 1.3%. The leaderboard stock is currently in a buying zone after passing a buying point of 232.96. Its RS line has recently stabilized.
But the worst performance was Nike (NKE). The sportswear giant fell about 2.2%.
The best performing component was Caterpillar, which grew by almost 5%. The shares offset a 200.27 point buy from a short consolidation on Tuesday, and the shares remain in the buy range.
Caterpillar shares, presented at Tuesday’s IBD Stock Of The Day, are considered a thermometer for the global economy. Rising copper prices could boost demand for Caterpillar mining equipment.
These travel stocks are bursting
A series of travel stocks surpassed purchase points as sentiment for a Covid-19 recovery increases. In the hotel group, Marriott International (MAR) surpassed a buy point of 135.94 from a flat base. The volume was also remarkably heavy.
This comes after the hotel giant reported adjusted earnings for the fourth quarter, which surpassed views on Thursday. Although revenue lost, there were signs of recovery in reserves.
Hilton Worldwide (HLT) is in a shopping zone after passing a 116.83 entry from a flat base. It was rising, although the Virginia-based network recorded a surprising loss in the fourth quarter on Wednesday. Revenue also fell more than expected.
Hotel real estate investment company RLJ Lodging Trust (RLJ) rose beyond a 15.16 point of purchase from a long cup base with handle. The company has more than 100 hotels in 23 states and the District of Columbia
Carnival Cruise (CCL) managed to pass a 24.48 point purchase of a canopy base. Although the cruise ship industry has been hurt by Covid, stocks have now increased by more than 210% in their coronavirus collision casualties.
Tesla’s stock reverses as rivals advance
The shares of the IBD Leaderboard Tesla fell about 1%. The stock continues to reverse after announcing that it is cutting the price of its basic variants of the Model 3 sedan and the Model Y sport utility vehicle. However, it has increased prices on the higher mileage versions.
The company has made several models in its line more accessible as antique car manufacturers, such as General Motors, Ford (Faith Volkswagen (VWAGY) gave a big boost to the EV market.
A crumb of comfort for TSLA bulls is the fact that it is finding support in its 50-day moving average.
Tesla’s Chinese rival Nio also shifted into reverse after initially being positive. It dropped about 0.3% and is looking for support on the 50 day line. A previous leak from a canopy base with a purchase point of 57.30 failed.
GM’s shares were doing better, up about 0.5%. It previously burst from a cup base on January 12 with positive EV news. The point of purchase was 46.81.