The stock market held strong gains in afternoon trading Tuesday. The Nasdaq 100 found its footing after a 1% intraday gain turned slightly negative in early trading. Micron Technology (MU) was the best gainer in the Nasdaq 100, helped by a strong earnings report and bullish guidance. Top gainers in the Dow Jones Industrial Average included Nike stock and Boeing stock.
XNike (NKE) pared gains but still rose nearly 6% in the Dow Jones today after the company reported better than expected earnings and sales. Wall Street looked past news that China sales fell 24% to $1.84 billion.
Boeing (BA) added 5% on news UPS (UPS) ordered 19 new widebody freighter aircraft from the aerospace giant. Terms weren't disclosed.
The Dow Jones industrials were up 1.6%.
Outside the Dow Jones
The Nasdaq composite added 1.7%, helped by a big gain for Citrix Systems (CTXS). CTXS stock soared nearly 13% on a Bloomberg report that Elliott Investment Management and Vista Equity Partners are preparing a joint bid for the software maker.
U.S. Stock Market Today Overview |
||||
|---|---|---|---|---|
| Index | Symbol | Price | Gain/Loss | % Change |
| Dow Jones | (0DJIA) | 35476.84 | +544.68 | +1.56 |
| S&P 500 | (0S&P5) | 4635.77 | +67.75 | +1.48 |
| Nasdaq | (0NDQC ) | 15236.75 | +255.81 | +1.71 |
| Russell 2000 | (IWM) | 217.29 | +5.17 | +2.44 |
| IBD 50 | (FFTY) | 43.30 | +0.99 | +2.34 |
Last Update: 1:12 PM ET 12/21/2021 |
||||
A bullish breakout for Micron stock fueled a 3% rise for the VanEck Vectors Semiconductor ETF (SMH).
Strength in travel-related stocks helped lift the S&P 500 to a 1.5% gain. Expedia (EXPE) broke out over a trend line, rising 8%. Airline stocks, hotel operators and casino operators also outperformed.
In the hotel group, Hilton Worldwide (HLT) surged over a trend line, rising more than 5%, but it's still trying to break out over a 148.85 buy point of a cup with handle. Hyatt Hotels (H) also broke out over a trend line.
The S&P 500 is the only stock index in a confirmed uptrend at this point because it's still holding above its Dec. 3 intraday low. The Nasdaq composite breached its Dec. 3 low Monday, effectively killing its uptrend. Read The Big Picture every day to stay in sync with the market direction and leading stocks and sectors.
The Russell 2000 small-cap index surged 2.4%. But even with Tuesday's gain, the iShares Russell 2000 ETF (IWM) is still 11% off its recent high.
Among the 11 sectors tracked by S&P, the Energy Select SPDR Fund (XLE) led the way, up 2.9%. The exchange traded fund extended gains after finding support at its 200-day moving average Monday.
The Financial Select Sector SPDR Fund (XLF) also did well, up 2.3%. Financial stocks got a lift as money flowed out of bonds, lifting the 10-year Treasury yield 6 basis points to 1.48%.
Growth Stocks Rally
The Innovator IBD 50 ETF (FFTY) recovered 2% after dropping 1.4% Monday. While many top-rated growth stocks find themselves in bear markets at more than 20% off their recent highs, the Invesco QQQ Trust (QQQ) is less than 6% off its high. The SPDR S&P 500 ETF (SPY) is less than 3% off its high.
Top gainers in the IBD 50 index of leading growth stocks included Customers Bancorp (CUBI). A breakout over a 61.58 buy point last week looked good, but sellers hammered the stock on Friday, resulting in a failed breakout. But CUBI stock found support at its 50-day moving average Monday and extended gains today, up another 4.5%.
In the homebuilding group, Century Communities (CCS) and Green Brick Partners (GRBK) added around 5% each. CCS stock is retesting a prior buy area as it holds above its 50-day line. Green Brick, meanwhile, is back in buy range from a 28.01 alternate entry, though it had a round-trip sell signal.
Inside the MarketSmith Growth 250, Alcoa (AA) surged nearly 8%, but it's past the 5% buy zone after soaring past a 52.96 double-bottom buy point.
Follow Ken Shreve on Twitter @IBD_KShreve for more stock market analysis and insight.
YOU MAY ALSO LIKE:
Top Growth Stocks To Buy And Watch
Learn How To Time The Market With IBD's ETF Market Strategy
Find The Best Long-Term Investments With IBD Long-Term Leaders
MarketSmith: Research, Charts, Data And Coaching All In One Place
How To Research Growth Stocks: Why This IBD Tool Simplifies The Search For Top Stocks
Article From & Read More ( Dow Jones Soars 500 Points, Helped By Surging Nike Stock; Micron Report Fuels Broad-Based Chip Rally - Investor's Business Daily )https://ift.tt/3FiIdwh
Business
Bagikan Berita Ini
0 Response to "Dow Jones Soars 500 Points, Helped By Surging Nike Stock; Micron Report Fuels Broad-Based Chip Rally - Investor's Business Daily"
Post a Comment