Table of Contents
The Dow Jones Industrial Average even rose briefly Apple (AAPL) fell. The Nasdaq and the S&P 500 fell Nvidia (NVDA) lost a key level. Trump media and technology (DJT) fell after another assassination attempt on the former president. A number of stocks also achieved buy points on the stock market today.
↑
X
Harris-Trump debate: four tips for investors
Stocks are off to a rough start overall as they look to build on last week’s impressive gains. The Dow Jones outperformed, but was off session highs as the index rose less than 100 points, or 0.2%. It was reinforced as Intel (INTC) increased by 4%.
The chipmaker, which has been in a long downtrend, then rose Bloomberg reports this it is eligible for up to $3.5 billion in grants to make chips for the U.S. military. Boeing (BA) fell by almost 2%.
The Nasdaq composite fared the worst of the major indexes, down nearly 1%. It is testing support at its 50-day moving average after regaining the benchmark late last week. CrowdStrike (CRWD) was one of the better performers, up more than 3%. However, Arm (ARM) lagged behind and fell by more than 5%.
Stock market today: financial sector shines
The S&P 500 traded lower, falling 0.3%. Oracle (ORCL) performed best, with a gain of almost 6%. Bath and body works (BBWI) was also strong, with a gain of more than 6%. However, the stock is still in a downward trend.
The equal weight of the Invesco S&P 500 (RSP) the exchange-traded fund outperformed with a 0.5% gain and briefly rose to a record high.
One positive for the stock market today was that the S&P 500 sectors were mostly positive. Financials and energy stocks did the best. The only laggards were consumer goods, technology and communications services.
The Russell 2000 traded lower, down 0.1%. Growth stocks also fell slowly, with the Innovator IBD 50 ETF (FFTY) fell by 0.1%. The fund is still below its 50 and 200 day moving averages.
Beautiful 7: Nvidia lags behind, Alphabet digs in
Nvidia noticeably underperformed in the Magnificent Seven, down almost 3%. It has fallen below the 50-day mark amid an ongoing attempt to decisively recapture the benchmark.
Amazon.com (AMZN) And Tesla (TSLA) were also nibbled by the bears. Amazon fell just over 1%, while EV maker Tesla fell 0.5%.
Metaplatforms (META) And Microsoft (MSFT) fell fractionally.
Alphabet (GOOGL) was the only bright spot among the much-discussed group of stocks. The Google parent company rose 0.1% and trades at the 200-day line.
Stock Market Today: More Stocks Test Buy Points
It turned out to be a busy session on the breakaway front. American electricity (AEP) is in a buy zone after clearing a flat base entry of 104.41, according to MarketSurge analysis. This is a base in the first phase, a bonus. The relative strength line is just off the recent highs but trending higher.
Both earnings and stock market performance are strong for the utility. This has given it an excellent IBD Composite Rating of 91 out of 99.
The Columbus, Ohio-based company is one of the largest utilities in the US. It expects that by 2033, almost 50% of energy generation will come from renewable sources such as wind and solar energy. This currently accounts for approximately 21%.
Includes health (EHC) briefly moved above a cup-with-handle entry of 94.22. This is also an early stage pattern.
EHC shares are up as much as 41% so far in 2024. Analysts expect earnings to grow 15% this year before slowing to 12% in 2025. The company specializes in intramural rehabilitation care. It operates in 37 states and Puerto Rico.
10:39 am ET
Apple Stock Falls on iPhone Concerns
Shares of Apple fell more than 3% after analysts raised concerns that early demand for the iPhone 16 is lagging behind the levels of last year’s iPhone 15.
Citi noted that “delivery times for the iPhone 16 are on average one week shorter” compared to demand for the iPhone 15 when it launched last year.
Query times were longest for the Pro Max and Pro models, with consumers choosing models with larger storage capacities.
And noticed This is what Apple analyst Ming-Chi Kuo says Sales of the iPhone 16 family fell an estimated 12.7% in the first weekend compared to the iPhone 15 series. It’s still early, though, so there’s room for better iPhone demand than these early reports.
Apple stock forms a cup with handle with an ideal buy point of 232.92. But it has fallen back below the important 50-day moving average.
Former President Donald Trump survived a second assassination attempt on Sunday, when Secret Service agents opened fire on a gunman at a golf club in West Palm Beach, Florida. The suspect, identified as Ryan Wesley Routh, was later arrested.
Shares of Trump Media & Technology, the parent company of conservative social media website Truth Social, fell nearly 3%. Monday. It remains stuck below its 50-day and 200-day moving averages.
The stock was in rally mode on Friday after Trump said on Friday that he has “absolutely no plans to sell his shares in the company.” It ended that session 11.8% higher.
Trump currently owns nearly 59% of the company’s outstanding shares. According to the documents, the lock-up period that prohibits the former president from selling his stake expires on September 25.
With the more encouraging moves lately, it’s a good idea to keep track of which stocks are hitting their buy points.
A number of issues drove bullish moves in the stock market today, including Always (EVRG), KKR (KKR) And Mr. Cooper (COOP).
Evergy has moved above a flat-base buy point of 61.14, according to MarketSurge analysis. This is a basis of the first phase. Such early patterns are likely to yield good profits for investors.
Overall performance is strong, but not ideal, for the utility stock, reflected in the stock’s 91 out of 99 IBD Composite Rating.
Investment management game KKR achieved a cup-with-handle entry of 124.20. The stock has an earnings per share of 91 out of 99.
Strong performance is expected going forward, with analysts seeing earnings per share rising 36% this year and a further 31% in 2025.
Big Money has been paying a lot of attention to stocks lately, with an accumulation/distribution rating of C. A total of 42% of stocks are currently held by funds.
Mr. Cooper flirts with buying point
Finally, Mr. Cooper is flirting with a buy point of 302.75 for a cup with handle. The relative strength line is near the highest points on the weekly chart, The MarketSurge analysis shows this.
The mortgage stock has an IBD Composite Rating of 94. It has an EPS Rating of 94 and is in the top 8% of stocks in terms of stock market performance over the past 12 months.
Follow Michael Larkin on X, formerly known as Twitter, at @IBD_MLarkin for more growth stock analysis.
You might also like:
How Wall Street and Silicon Valley see their fate under Trump or Harris
These are the five best stocks to buy and watch now
Stock Market Prediction: AI Investing and Four More Predictions
Join IBD Live every morning for stock tips before the open
This is the ultimate Warren Buffett stock, but should you buy it?