U.S. stocks opened the week on solid ground after a bullish week for the major stock indexes last week. The Nasdaq composite was up 0.9%, helped by a strong performance for Apple stock, which hit an all-time high. The Dow Jones Industrial Average lagged, weighed down by weak performances for American Express (AXP), Boeing (BA), JPMorgan (JPM), Travelers (TRV) and Goldman Sachs (GS).
The S&P 500 hit a fresh high, up 0.6%, along with the Nasdaq Monday.
Top gainers in the S&P 500 included Baxter International (BAX). BAX stock jumped more than 3% after The Wall Street Journal reported the company is in advanced talks to acquire medical technology firm Hill-Rom (HRC) for $10 billion. Hill-Rom shares rose 10%.
U.S. Stock Market Today Overview
Last Update: 1:14 PM ET 8/30/2021
The Nasdaq 100 delivered several bullish price gainers as well.
Idexx is actionable now as the stock finds support at the 10-week moving average. LULU stock hit an all-time high ahead of its Sept. 8 earnings report. Tesla added nearly 2% as it vies for a breakout over a 730 buy point.
Dow Jones Today
The Dow Jones industrials were up less than 0.1% at around 1:30 p.m. ET. Apple (AAPL) was the top performer in the blue-chip index, up more than 2% to an all-time high.
Home Depot (HD) also outperformed in the Dow Jones today, up 1.5%. The home improvement chain is finding support at the 50-day moving average after a negative reaction to earnings on Aug. 17.
Honeywell (HON) looked to extend a six-session win streak, up 0.4%. It’s sitting just below a 236.96 entry.
Outside of the Dow Jones, growth stocks extended their recent string of outperformance days. After soaring 6% last week, the Innovator IBD 50 ETF (FFTY) was up 1.3%, led by strength in recent IPOs like Monday.com (MNDY) and Global-e Online (GLBE).
Outside of the IBD 50, Affirm (AFRM) was the star of the day, up more than 40%. Late Friday, the company said it reached a deal with Amazon.com (AMZN) to offer an installment payment option at checkout.
In the retail sector, Floor & Decor (FND) performed well in the MarketSmith Growth 250, up more than 3%. The hardwood flooring retailer is in an alternate buy zone after a breakout from a cup with handle in July.
Follow Ken Shreve on Twitter @IBD_KShreve for more stock market analysis and insight.
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