Stocks were mixed at noon Tuesday as the Nasdaq rose and the Dow Jones Industrial Average erased most of an early 89-point drop.
The Nasdaq rose 0.5%, the S&P 500 rose 0.2%, and the Dow Jones industrial average rose less than 0.1% in the stock market today. Small capsules traced by Russell 2000 added 0.4%. Volume was lower on both the NYSE and the Nasdaq Stock Exchange compared to the same time Monday.
Technical stocks boosted the Nasdaq Composite to a 43.6% gain in 2020 for its fifth best year ever. The S&P 500 rose 16.3% and the Dow added 7.2% last year. After a strong start this year, the market is now returning from a brief correction. Read the big picture for detailed daily market analysis.
The Covid-19 pandemic has shaken the U.S. economy as nationwide lockdowns pass the one-year mark. But many states are relaxing restrictions, and there are signs of hope as vaccinations roll out and cases begin to plateau in some states.
US stock market today Overview
|Index||Symbol||Price||Profit / loss||% Change|
|S&P 500||(0S & P5)||4085.25||+7.34||+0.18|
Last updated: 12:00 PM ET 4/6/2021
Cumulative Covid-19 cases worldwide are approaching 133 million with nearly 2.9 million deaths according to the Worldometer. In the United States, cases have peaked at 31.5 million and 569,000 deaths, though the number of new cases in the United States has slowed dramatically.
Dow winners and losers
Nike (OF) and Coca Cola (KO) received more than 1% each.
Nike, up 1.5%, is close to resuming its 50-day moving average. Equities have been consolidating over the past 15 weeks in a low pattern with a buy point of 148.05, according to MarketSmith chart analysis. Nike stock is approx. 7% away from the entrance.
Last week, Nike won a lawsuit alleging MSCHF Product Studios’ “Satan Shoes” collaboration with rapper Lil Nas X, which had infringed on the shoe’s giant brands.
Coca-Cola, up 1.2%, is forming a cup base with a buying point of 55.03. That’s about 3% below the record. The Coca-Cola stock has a 34 Composite Rating, well below the 90 minimum required by leading stocks. A 25 relative strength rating, which is part of the overall composite score, means that it lags 75% of all other stocks.
Walgreens Boots Alliance (WBA), Boeing (BA) and United Health (UNH), down by more than 1% each, were the biggest losers of blue-chip.
Microsoft (MSFT) rose 0.1% lower but remains within the buy range after clearing a 246.23 buy on Monday. Microsoft’s stock buying range is at the top of 258.54. The software giant is an IBD Leaderboard and IBD Long-Term Leader repository.
Outside the Dow Jones
Solar, oil and gas and clothing stocks led the upside among IBD’s 197 industrial groups. Steel, software and telecommunications stocks delayed.
IBD 50 stock Green Brick Partners (GRBK) rose 10% in heavy trading to a 10-year high. The stock broke past a buyout point of 25.15 on a 20-week cupbase. It has now expanded from the post, with the buying area peaking at 26.78. The Texas-based homebuilder traded around 6 p.m. 27.10 noon. Green Brick was one of the stocks in Monday’s IBD display of the day.
Innovator IBD 50 ETF (FFTY) advanced by 1%, led by Green Brick, Pinterest (PINS) and Yeti (YETI).
new number GreenBox POS (GBOX) rose 18% to extend Monday’s outburst past a 15.45 buy point on a six-week cupbase. Shares are now well expanded from the post. The blockchain-based payment company doubled its estimates for processing volume this year to at least $ 1.2 billion. GreenBox was released on February 18th.
Illumina (ILMN) increased 9% in rapid turnover as it nears regaining its 50-day line. Late Monday, the maker of re-analysis systems said it expects Q1 revenue to be $ 1 billion. $. It also forecasts full-year growth of 25% to 28%, well above Wall Street’s growth target of 17%.
Follow Nancy Gondo on Twitter at @IBD_NGondo
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