The Dow Jones Industrial Average, S&P 500 and Nasdaq composite showed modest gains in afternoon trading, with the Dow Jones and S&P 500 making their fourth straight gain. Cisco systems (CSCO) was a top performer in the Dow Jones today, helped by an analyst upgrade.
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Alexion Pharmaceutical Products (ALXN) led the Nasdaq 100. AstraZeneca (AZN) is acquiring Alexion. The merger took another step forward after the Federal Trade Commission ruled in favor of the deal.
Coronavirus Vaccine Manufacturer Modern (MRNA) was another top winner in the Nasdaq 100, with more than 7%. MRNA forms the right side of a cup base.
Dow Jones Today
The Dow Jones rose 0.2%. In addition to Cisco Systems, other Dow stocks performed better, including Home Depot (HD), Verizon (VZ) en Johnson & Johnson (JNJ).
US stock market overview today |
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|---|---|---|---|---|
| Index | Symbol | Price | Profit / loss | % Change |
| Dow jones | (0DJIA) | 34118.23 | +82.24 | +0.24 |
| S&P 500 | (0S & P5) | 4177.23 | +6.81 | +0.16 |
| Nasdaq | (0NDQC) | 14029.53 | -9.23 | -0.07 |
| Russell 2000 | (IWM) | 223.59 | -0.70 | -0.31 |
| IBD 50 | (FFTY) | 45.81 | -0.01 | -0.02 |
Last updated: 13:16 ET 16.4.2021 |
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The Nasdaq composite decreased by 0.1% and the S&P 500 increased by 2%. The volume on the NYSE and Nasdaq was slightly higher compared to the same time Thursday.
The S&P 500 had a light distribution day on Wednesday. The drop in higher volumes came on Monday after a tame spread day for the Nasdaq composite. Read the The Big Picture column every day to monitor signs of institutional buying and selling in the indices.
Pinterest hits a hit
Despite moderate rises for the stock indices, several leading growth stocks came under pressure. Pinterest (PINS) fell to its 50-day moving average after Wednesday’s reversal.
The Innovator IBD 50 ETF (FFTY) held relatively well, despite the sharp losses for Pinterest, PLBY Group (PLBY), Cut (SNAP) and Novocure (NVCR).
Snap returned nearly 5% ahead of next week’s earnings report. Results should appear Thursday after closing. Snap was featured in the latest story earnings story Freeport McMoRan (FCX).
Within the MarketSmith Growth 250, Floor and decor (FND) is back on sale after a two-day withdrawal. The shares rose by 3%.
But Bitcoin-related stocks have gained heat with Digital Marathon (MARA) en Riots Blockchain (RIOT) both fell by 7%. Bitcoin dropped 2.5% to $ 61,700.
Lattice Semiconductor (LSCC) and Progyny (PGNY) is aware of the news that both companies are joining the S&P MidCap 400 index.
Follow Ken Shreve on Twitter @IBD_KShreve for more stock market analysis and insight.
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