The major market indices were lower on Wednesday afternoon as the Dow Jones industrial average broke even, but the tech Nasdaq was successful.
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The Dow Jones industrial average was up 0.1%, the S&P 500 was down 0.6% and the Nasdaq was down 1.4% today. Small-cap capitalization followed by the Russell 2000, nearly 2% lower, also stumbled. The volume dropped lower on both major exchanges by the same time Tuesday.
Early Wednesday, the Department of Commerce said retail sales rose 5.3% in January. It rises sharply from the 1% drop in December and the forecast of Econoday for a 1.1% rise. Minus vehicles, sales increased by 5.9%. Excluding gas and cars, sales increased by 6.1%.
Technical stocks raised the Nasdaq to a 43.6% increase in 2020 for its fifth best year ever. The S&P 500 rose 16.3% and the Dow rose 7.2% last year. Read the big picture for detailed daily market analysis
The Covid-19 pandemic is still gripping the U.S. economy as nationwide blockades reach the year mark. But there are signs of hope as vaccinations begin to emerge and the number of cases in some countries begins to flatten.
US stock market overview today |
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|---|---|---|---|---|
| Index | Symbol | Price | Profit / loss | % Change |
| Dow jones | (0DJIA) | 31486.07 | -36.68 | -0.12 |
| S&P 500 | (0S & P5) | 3911.61 | -20.98 | -0.53 |
| Nasdaq | (0NDQC) | 13849.61 | -197.89 | -1.41 |
| Russell 2000 | (IWM) | 222.33 | -3.50 | -1.55 |
| IBD 50 | (FFTY) | 47.61 | -1.34 | -2.74 |
Last updated: 12:00 ET 17.2.2021 |
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Cumulative Covid-19 cases worldwide have exceeded 110 million with more than 2.4 million deaths, according to Worldometer. In the US, business has now climbed 28.3 million with more than 500,000 deaths.
Dow winners and losers
Verizon (VZ) increased and increased by 4% in heavy trade. A regulatory submission shows that Warren Buffett’s Berkshire Hathaway (BRKA) opened a new stake in the telecom giant by buying 147 million shares for $ 8.62 billion. Verizon shares now account for 3% of the portfolio, which is the number 6 shares according to the number of shares held.
Chevron (CVX) rose 2.4% in volume, also following the news that Buffett has opened a new stake in the oil giant. Berkshire Hathaway bought 48.5 million shares in Chevron shares, which is back near a 95.92 buy point from a previous fixed base.
Merck (HRC) climbed 2% in above-average trading. Buffett increased his stake in the drugmaker by 28%. In other news, Nectar Therapeutics (NKTR) said it would test a combination using Merck’s Keytruda in head and neck cancer patients.
Nectar’s bempegale leukin has shown promise in using drugs like Keytruda. Shares in Nektar rose 11% and broke after a 23.10 buy-in of a handle with a handle, according to the MarketSmith chart analysis.
Back on the Dow, blue slide losers included appeal (AAPL), Disney (DIS) and Honeywell (HON), with more than 1% each.
Buffett reduced its stake in Apple by 6%. But the iPhone maker remains the number 1 stock in its portfolio by market value and number 2 by the number of shares held. Apple shares fell below its 50-day moving average for the first time since November. It is now about 6% below its 138.89 buy point in a cup with handle.
Outside The Dow
Shares in solar power, software and chips led the downside among IBD’s 197 industry groups. But airlines, drugstores and telecommunications stocks were among the few groups that cost the cut.
The price of Bitcoin rose by more than 4% on Wednesday morning at all times. Bitcoin, according to CoinDesk, reached as high as $ 51735 before comparing slightly. Cyber security kept lunch above the $ 51,000 level. The Grayscale Bitcoin Trust (GBTC) has gained almost 4% and is at a new high.
The Innovator IBD 50 ETF (FFTY) sank more than 3% before slicing up part of the big loss when growth stocks stumbled. 360 DigiTech (QFIN), Chegg (CHGG) and SciPlay (SCPL) increases more than 8% each.
Ligand Pharmaceutical Products (LGND), Etsy (ETSY), Handelsbank (TTD) and Marvell Technology (MRVL) also showed large losses.
Follow Nancy Gondo on Twitter @IBD_NGondo
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