The Dow Jones Industrial Average declined modestly in today’s stock market, while the Nasdaq composite turned positive from earlier lows of the day, up around 0.4% in afternoon trading.
Over the past hour of trading, the indexes continued to move up from the day’s lows. At around 3:10 p.m. ET, the small-cap Russell 2000 index remained in the negative with a 0.5% decline. The S&P 500 traded up 0.1% after reversing earlier losses. The Nasdaq composite was up 0.4% and the Dow held a modest decline of 0.3%.
Volume was running higher on both the NYSE and Nasdaq compared with the same time on Friday.
New Covid-19 cases continue to surge. The total number of confirmed coronavirus cases in the U.S. neared 26 million on Monday, according to the Worldometer data tracker. Meanwhile, total virus-related deaths rose past 429,000.
The Innovator IBD 50 ETF (FFTY) declined as much as 1.7% on Monday before trimming that loss to around 0.3%. The growth-focused ETF was hindered by a handful of stocks that fell more than 2%. Stocks leading the downside included Digital Turbine (APPS) and Cerence (CRNC), with losses of 3.8% each.
Sectors were mixed, with losers outweighing the winners. Utilities and consumer staples were among top-performing sectors Monday.
Dow Jones Today
Apple stock is set to report earnings Wednesday after the close. The tech giant is continuing to show gains ahead of the release.
Shares fought to remain inside the buy area after falling below the new buy point of 138.89 from a cup base amid downward pressure. The stock rose after Raymond James raised its price target from 140 to 150.
Microsoft stock, which reports earnings Tuesday, remains just above an alternate buy point of 228.22, according to MarketSmith. An early entry also exists at 227.28. Microsoft stock is up around 1% Monday. The company maintains mixed IBD Ratings, with a strong EPS Rating of 93, a Composite Rating of 80 and an unimpressive RS Rating of 44.
Stocks Breaking Out
Two leading growth stocks from the MarketSmith Growth 250 list broke out on Monday.
Computer software company and recent IPO stock Palantir (PLTR) broke out past a consolidation buy point of 33.60. Shares rose more than 5% in midafternoon trade.
The maker of software for institutions to protect personal privacy has a less-than-ideal Composite Rating of 60 but a very healthy RS Rating at 98, indicating strong outperformance. That puts Palantir in the top 2% of stocks for market performance over the past 12 months.
The company has strong IBD Ratings, with a 92 Composite and a 97 RS Rating.
Follow Rachel Fox on Twitter at @foxonstocks for more market insight and Dow Jones commentary.
YOU MAY ALSO LIKE:
The post Dow Jones Falls, Nasdaq Turns Positive; Microsoft, Apple Stock In Buy Zones Ahead Of Earnings appeared first on TechFans.