The Dow Jones industrial average rose after Treasury Secretary Janet Yellen addressed the issue for more coronavirus stimulation, though it has been since declining profits. Meantime Ruspe (CAT) was the leading blue chip as Microsoft (MSFT) dive. A pair of travel stocks also surpassed buying points.
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Among EV shares, Tesla (TSLA) continued to block lower Chinese rival Nine (NIO) stuck and General Motors (GM) got into gear.
The protest comes after Yellen said more stimulus was needed. She said President Joe Biden’s proposed $ 1.9 billion package of coronavirus assistance would help small businesses and put the U.S. back to full work within a year.
“I think the price of doing too little is much higher than the price of doing something great,” she told CNBC. We think the benefits in the long run will outweigh the costs. ‘
Covid-19 continues to take its toll. In the US, according to Worldometer, cases have now exceeded 28.5 million with more than 505,000 deaths.
Nasdaq, S&P 500 stall
The Nasdaq hit negative territory after reversing. However, the losses were less than 0.1%. Facebook (FB) was the largest backlog, with more than 3%.
The S&P 500 also reversed lower after being positive for most of the session. It dropped by about 0.1%. Hologic (HOLX) performed the worst, falling almost 7%.
US stock market overview today |
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|---|---|---|---|---|
| Index | Symbol | Price | Profit / loss | % Change |
| Dow jones | (0DJIA) | 31547.99 | + 54.65 | +0.17 |
| S&P 500 | (0S & P5) | 3910.83 | -3.14 | -0.08 |
| Nasdaq | (0NDQC) | 13866.20 | +0.84 | +0.01 |
| Russell 2000 | (IWM) | 224.81 | +4.22 | +1.91 |
| IBD 50 | (FFTY) | 48.79 | +0.93 | +1.94 |
Last updated: 13:20 ET 20.02.2021 |
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The volume was slightly higher compared to the same time Thursday. It rose about 6% on the Nasdaq and less than 1% on the NYSE.
The S&P sectors were a mixed bag, with a balance between winners and losers. Industry and materials fared best.
Small capitalization outperformed the major indices. The Russell 2000 rose more than 2%, although it was not a higher session.
Growth stocks are also doing well amid the bull tax, with the Innovator IBD 50 ETF (FFTY) rising almost 2%. However, profits have also faded.
Microsoft Stocks Fall As Dow Jones Rises
The Dow Jones industrial average outperformed the other major indices. It managed to stay positive and rose by about 0.1%.
Microsoft was a significant backlog, with about 1.3%. The Leaderboard stock is currently in a buy zone after hitting a buy point of 232.96. His RS line flattened out late.
But the worst performer was Nike (NKE). The sportswear giant fell by about 2.2%.
The best performing component was Caterpillar, which rose almost 5%. The stock gained a buy point of 200.27 from a short consolidation on Tuesday, and the shares remain within the buy range.
Caterpillar shares, which appear in Tuesday’s IBD Stock Of The Day, are seen as a bell for the world economy. Rising copper prices could increase demand for Caterpillar’s mining equipment.
These travel supplies are breaking out
A number of travel stocks passed the buying points as sentiment rose for a recovery of the Covid-19. In the hotel group, Marriott International (MAR) passed a 135.94 buy point from a flat base. The volume was also particularly heavy.
This comes after the hotel giant reported adjusted earnings for the fourth quarter that reached the views on Thursday. Although the revenue was missed, there were signs of a recovery in the discussions.
Hilton worldwide (HLT) is in a buying zone after passing a 116.83 entry from a flat base. It rose despite the chain in Virginia posting a surprise Q4 loss on Wednesday. Revenue also fell more than expected.
Hotel real estate investment company RLJ Accommodation Trust (RLJ) rose from a long cup-with-handle past a 15.16 buy point. The firm owns more than 100 hotels in 23 states and the District of Columbia
Carnival (CCL) succeeds in passing a 24.48 buyout of a cup base. While the cruise ship industry was paralyzed by Covid, the share is now more than 210% higher than the coronavirus lows.
Tesla shares change as competitors advance
IBD Leaderboard share Tesla fell by about 1%. The stock continues to turn around after announcing that it is lowering the price of its base variants of the Model 3 sedan and Model Y sportnuts. However, it has increased prices on higher mileage versions.
The firm has made several models in its range more affordable than old-fashioned car manufacturers such as General Motors, Ford (F) and Volkswagen (VWAGY) is making a big push in the EV market.
One consolation for TSLA bulls is the fact that he finds support on his 50-day moving average.
Tesla’s Chinese rival Nio also became reverse gear after initially being positive. It has fallen by about 0.3% and is seeking support in the 50-day line. A previous breakthrough of a cup base with a buying point of 57.30 failed.
GM share performs better and rises by about 0.5%. It previously erupted from a cup base on January 12 on positive EV news. The buying point was 46.81.