The Dow Jones Industrial Average closed slightly lower in today’s stock market after posting strong losses on Monday. The Nasdaq led the upside with modest gains, while the S&P 500 traded slightly lower. Small-cap stocks also outperformed.
Dow Jones In The Stock Market Today
The Nasdaq composite rose 0.2%. The Dow Jones closed down more than 0.1%, while the S&P 500 fell 0.1%. The Russell 2000 index closed 0.2% higher. Early data showed lower volume on the NYSE and on the Nasdaq vs. the close on Monday.
Inside the Dow Jones, American Express (AXP) was among the top gainers, rising 1.7%. Meanwhile, Nike (NKE) also traded higher with a rise of roughly 0.5% after multiple days of declines. Shares are trading below the lower edge of a new flat base with a 174.48 buy point and are 12% below this proper entry. The stock also dropped below its key 50-day and 200-day lines in August, a bearish sign.
Nike plans to release its fiscal first-quarter 2022 results on Thursday. According to IBD data, the athletic shoe and apparel giant is expected to show year-over-year earnings growth of 18% to $1.12 per share. Sales are seen rising 18% to $12.46 billion.
U.S. Stock Market Today Overview
Last Update: 4:20 PM ET 9/21/2021
The major indexes fluctuated between gains and small losses Tuesday but ultimately closed mixed. Stocks steadied after strong declines on Monday were fueled by the threat of a possible default by a major Chinese real estate company known as Evergrande Group.
The S&P sectors were mostly positive, with energy and real estate making up the most ground. Utilities and industrials were the only laggards.
The S&P sectors were mixed, with energy and real estate showing the strongest gains. Utilities and industrials were among the worst performers, with the Utilities Select Sector SPDR Fund (XLU) only losing a narrow 0.3%.
Growth stocks fell hard on Monday but rebounded swiftly on Tuesday. The Innovator IBD 50 ETF (FFTY) gained 1.5% and is now just pennies below a 50.06 buy point. Stocks outperforming in the index Tuesday included InMode (INMD) and Upstart (UPST), which gained over 5% and 9%, respectively.
Stocks Breaking Out
A few growth stocks still managed to score breakouts on Tuesday despite the unfavorable market conditions, including Verso (VRS) and Acceleron Pharma (XLRN). Molina Healthcare (MOH) tried to break out but faded from the 283.53 entry.
Verso broke out into a buy zone after passing a cup-with-handle buy point of 19.82. The relative strength line was bending upward, a good sign. The paper mill company closed inside the buy area after rising over 4%. While the firm’s EPS Rating of 65 reflects inconsistent earnings results, the two most recent quarters have shown strong improvements.
Finally, Acceleron Pharma is nearing the upper edge of a buy zone after breaking out of a consolidation pattern. The proper buy point was around 146.25. However, the biotech is not profitable.
With the market under pressure, it’s risky to buy any stocks.
Follow Rachel Fox on Twitter at @foxonstocks for more Dow Jones and market commentary.
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