The Dow Jones industrial average rose nearly 700 points early Monday, after the House passed President Joe Biden’s $ 1.9 billion stimulus bill last weekend.
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The Dow Jones industrial average rose 2.2%, the S&P 500 rose 2.1% and the Nasdaq rose 2.1% in the stock market today. Small-cap capitalization followed by the Russell 2000 outperformed an increase of 2.6%. The volume was lower on both major wallets by the same time Friday.
On Saturday, the House approved Biden’s Covid-19 bill, which includes $ 1,400 stimulus checks for many Americans. The bill now goes to the Senate.
Technical stocks raised the Nasdaq to 43.6% 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.
Covid-19 update
The Covid-19 pandemic is still gripping the U.S. economy as nationwide blockades approach the one-year mark. But there are signs of hope as vaccinations begin to roll out and cases in some countries begin to flatten.
US stock market overview today |
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|---|---|---|---|---|
| Index | Symbol | Price | Profit / loss | % Change |
| Dow jones | (0DJIA) | 31623.85 | +691,48 | +2.24 |
| S&P 500 | (0S & P5) | 3897.00 | + 85.85 | +2.25 |
| Nasdaq | (0NDQC) | 13508.41 | +316.07 | +2.40 |
| Russell 2000 | (IWM) | 225.00 | +6.69 | +3.06 |
| IBD 50 | (FFTY) | 47.47 | +1.81 | +3.96 |
Last updated: 11:18 ET 1/3/2021 |
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Cumulative Covid-19 cases worldwide are approaching 115 million with more than 2.5 million deaths, according to Worldometer. In the U.S., cases rose 29 million with nearly 526,000 deaths, though the number of new cases in the U.S. has dropped dramatically in recent weeks.
On Saturday, Johnson & JohnsonThe coronavirus vaccine (JNJ) becomes the third FDA approved for emergency use. Late Friday, an advisory panel recommended the approval of the single-vaccine vaccine. J&J has promised to deliver 20 million doses this month and 100 million by the end of June.
The J&J stock, with nearly 2% in large volume, is working on a new flat base with a 173.75 buy point, according to the MarketSmith chart analysis. The new base started to form after a 10% advance from a previous flat base pattern.
Dow winners, no losers
Boeing (BA) rose 6% in fast trading after testing its support on its 50-day moving average on Friday. United Airlines (UAL) said it had ordered 25 new Boeing 737 MAX aircraft. Boeing is in a 21-week consolidation with a buying point of 244.18. Boeing shares are down about 8% of the subscription.
Among others blue chip winners, Chevron (CVX), Dow Inc. (DOW) and Intel (INTC) increased by about 3% per piece. appeal (AAPL) and Disney (DIS) was below half a dozen Dow shares with more than 2% each.
Apple, with nearly 3% in heavy trading, is still below its 50-day line. Shares caused the 7% -8% loss-cutting sell-off on February 18 as it tumbled below a 138.89 buy point of a cup with handle.
Disney, up 2.8%, has expanded again from a flat-bottomed 183.50 buy-in. It has dropped in the buying range over the past two sessions. The purchase price of Disney shares was 192.68.
All 30 Dow shares were higher.
Outside The Dow
Tesla (TSLA) rose nearly 4%, on course to stop a two-day slide. Last week, the giant for electric vehicles fell below its moving average of ten weeks. Shares are about 22% lower than their January 25 high, but remain well-expanded from a 466-buy handle with a handle.
China Competitions Nine (NIO) achieved a quick turnover of 6% before its earnings after closing. Analysts expect the EV manufacturer to lose 6 cents a share on revenue of $ 1.02 billion. Nine stocks are nearly 30% lower than their January 11 peak after a 17% dip last week.
Zoom video (ZM), which also reported late Monday, jumped 5% in heavy trading. The stock rose above its 50-day line after breaking support last week. Wall Street predicts the online meeting platform will earn 79 cents a share, up 427% from a year-on-year basis. Revenue is expected to increase by 331% to $ 811.7 million. Zoom stock is more than 30% less than the highest.
Bitcoin rose above the $ 48,000 level early Monday, trading at around $ 48,330, according to CoinDesk. The price of Bitcoin reached a record high on February 21 and is $ 58,332.
Grayscale Bitcoin Trust (GBTC) tumbled 23.8% last week but still maintains its ten-week support level.
Follow Nancy Gondo on Twitter @IBD_NGondo
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