The Dow Jones Industrial Average hit a new high on Tuesday, along with the S&P 500 and Nasdaq compilation, but early gains for the Nasdaq have faded. After rising above its 50-day moving average earlier this month, it was the best gain in the Dow Jones, with 3%. But Peloton (PTON) hit the Nasdaq 100 by nearly 6%. Peloton stock took a good stance last week with its moving average of ten weeks after reporting its earnings, but support gave way on Tuesday.
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Advanced micro-devices (AMD), Modern (MRNA) and Tesla (TSLA) also lagged behind in the Nasdaq with losses of more than 2% each.
At the end of the year, the Dow Jones industrial average rose 0.2%; the S&P 500 lit up less than 0.1% and the Nasdaq up 0.3%. Preliminary data showed that the volume of the NYSE and Nasdaq was higher than Friday.
Former Leaderboard Inventory Palantir Technologies (PLTR) fell below its 50-day moving average after reporting its earnings. Revenue rose 40% to $ 322.1 million. It was better than the $ 300.7 million consensus estimate, but the revenue forecast for 2021 was slightly light. Palantir only joined Leaderboard when he cleared an IPO base on November 5th.
US stock market overview today |
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|---|---|---|---|---|
| Index | Symbol | Price | Profit / loss | % Change |
| Dow jones | (0DJIA) | 31520.57 | +62.17 | +0.20 |
| S&P 500 | (0S & P5) | 3932,48 | -2.35 | -0.06 |
| Nasdaq | (0NDQC) | 14047.50 | -47.97 | -0.34 |
| Russell 2000 | (IWM) | 225.86 | -1.40 | -0.62 |
| IBD 50 | (FFTY) | 48.95 | -0.24 | -0.49 |
Last updated: 16:08 ET 16.2.2021 |
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Bitcoin exceeded the $ 50,000 level early Tuesday, but supported the highs. MicroStrategy (MSTR) has announced that it plans to offer $ 600 million in convertible debt to buy more Bitcoin. The company’s software company already owns nearly 72,000 units, valued at nearly $ 3.5 billion on Tuesday.
Earlier this month, Tesla (TSLA) has announced that it has bought $ 1.5 billion worth of Bitcoin. Shortly afterwards, Mastercard (MA) has agreed to facilitate some cryptocurrency transactions, Bank of New York Mellon (CC) has announced plans to be a custodian for crypto assets. appeal (AAPL) Payment users can now also pay in Bitcoin.
Dow Jones Movers
Besides Salesforce.com (CRM), JPMorgan (JPM) and Goldman Sachs (GS) also outperformed the blue-chip index, aided by a big jump in 10-year Treasury yields, which rose 9 basis points to 1.3%. JPMorgan achieved an alternate entry of 142.85, but Goldman Sachs is expanding to a first test of its 10-week series.
Ruspe (CAT) rose above the 200 level and rose by 2% to 202.38. CAT stock recently gained support on its ten-week line and also reached a three-week tight position of 200.27.
Boeing rose above its 50-day moving average and rose by about 3%, but it still has a way to reach a 244.18 buying point.
Outside The Dow Jones
Among the best ETFs, the Innovator IBD 50 (FFTY) returned 0.5% after rising 1.6% intraday. Keep in mind that FFTY rose 8.1% two weeks ago and another 5.5% last week. This means that consolidation must be expected.
The IBD 50 Index of Leading Growth Shares was down due to the weakness in Meridian Biosciences (VIVO), which crashed by 12% after the Food and Drug Administration requested more information regarding the company’s Covid-19 molecular diagnostic test. Meridian shares rose 23% on February 5 after the company hit a 550% rise in quarterly earnings and 96% revenue.
Meanwhile, the Innovator IBD Breakout Opportunities ETF (BOUT) outperformed 0.4%.
The iShares Expanded Tech Software Sector ETF (IGV) eased 0.3%. The VanEck Vectors Semiconductor ETF (SMH) picked up 0.6%.
Growth stocks on the move
360 DigiTech (QFIN) and Generac (GNRC) was the best gain in the IBD 50, with 12% and 7% respectively. After a huge price increase, the QFIN stock picked up on Tuesday after already expanding a lot. This is a sign of a climax peak. Shares of Generac were strong after the bad weather in Texas fueled speculation that demand will remain strong for the company’s backup generators. Generac is a leading part of the Innovator Breakout Opportunities ETF.
Enterprise software inventory Five9 (FIVN) was an early acquisition in the MarketSmith Growth 250 as he tried to break out of a double bottom. But the stock closed below the 184.08 buying point. A double bottom base has the appearance of the letter W and forms when the lower end of the second leg (154,25) suppresses the lower end of the first leg (163,71.).
Meanwhile, several strong performers in the MarketSmith Growth 250 experienced severe selling pressure. Offense (UPST), Dream Finders Homes (DFH) and Fulgent Genetics (FLGT) ended with losses ranging from 7% to 14%.
Follow Ken Shreve on Twitter @IBD_KShreve for more stock market analysis and insight.
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