Dow Jones Firm As Tesla Leads Magnificent Seven; Cathie Wood Snaps Up Stock Amid 43% Dive Investor’s Business Daily

The Dow Jones Industrial Average was steady Monday as Tesla (TSLA) outshined other Magnificent Seven stocks like Apple (AAPL) and Nvidia (NVDA). Famed investor Cathie Wood bought a diving stock. And Berkshire Hathaway (BRKB) fell on the stock market today after Warren Buffett flagged why progress has been difficult for the firm.

X

Meanwhile, some noteworthy names are trading near buy points. Ollie’s Bargain Outlet (OLLI) and Dream Finders Homes (DFH) tested entries while Qualcomm (QCOM) moved toward a potential buy point.

Nasdaq Flat, Growth Stocks Excel

The Nasdaq composite was flat in recent action. Palo Alto Networks (PANW) fared best as it jumped more than 8%, though it remains stuck below its 50-day moving average.

The benchmark S&P 500 reversed lower, falling 0.3%. Domino’s Pizza (DPZ) was faring well here, rising around 6% on strong earnings. The firm is also raising its dividend by a quarter and increasing its share buyback program. Kroger (KR) fell after the Federal Trade Commission sued to block its $25 billion merger with Albertsons (ACI).

The S&P 500 sectors were mixed with a slight bias to the negative. Technology and energy were outperforming on the stock market today. Communication services and utilities, the latter a defensive area, struggled the most.

Small caps reversed higher, with the Russell 2000 rising 0.2%. Growth stocks fared best, though, as the Innovator IBD 50 ETF (FFTY) surged more than 2%.

Meanwhile, Treasury yields were rallying. The 10-year Treasury note rose 4 basis points to 4.3% while the 30-year inched up 4 basis points to 4.42%. The 5-year yield popped 5 basis points to 4.33% while the 2-year also rose 5 basis points to 4.74%.

Stock Market Today: Walmart Shines As Stock Splits

The Dow Jones Industrial Average saw early gains evaporate and was fractionally negative in afternoon trades. It saw a gain of more than 100 points evaporate to a loss of more than 70.

Walmart (WMT) was among the strongest performers. It climbed nearly 2% as a 3-for-1 stock split came into effect.

However, it was Salesforce (CRM) that stood out…

..

Read More

Recommended For You

About the Author: nftstocks

Leave a Reply

Your email address will not be published. Required fields are marked *