The Dow Jones Industrial Average rallied 300 points, while tech stocks dived Monday, as coronavirus vaccine maker BioNTech surged on earnings. Apple sold off, while Tesla stock skidded in morning trade. Trade Desk plunged on earnings.
XAmong the Dow Jones leaders, Apple (AAPL) sold off 1.4% Monday, while Microsoft (MSFT) moved down 0.8% in today's stock market. Goldman Sachs (GS) is in buy range past a new buy point.
Tesla (TSLA) declined about 4% Monday morning. BioNTech (BNTX) reported earnings results early Monday.
Among the top stocks to buy and watch, Deere (DE) and MarineMax (HZO) are in or near new buy zones.
Microsoft is an IBD Leaderboard stock. Deere is an IBD SwingTrader stock pick. Apple and Goldman Sachs were featured in last week's Stocks Near A Buy Zone column.
Dow Jones Today
The Dow Jones Industrial Average traded up 0.9% early Monday, while the S&P 500 moved down les than 0.1%. The tech-heavy Nasdaq composite tumbled 1.5% in midday trade.
U.S. Stock Market Today Overview |
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|---|---|---|---|---|
| Index | Symbol | Price | Gain/Loss | % Change |
| Dow Jones | (0DJIA) | 34969.21 | +191.45 | +0.55 |
| S&P 500 | (0S&P5) | 4225.37 | -7.23 | -0.17 |
| Nasdaq | (0NDQC ) | 13554.71 | -197.53 | -1.44 |
| Russell 2000 | (IWM) | 223.39 | -2.00 | -0.89 |
| IBD 50 | (FFTY) | 45.81 | -0.24 | -0.52 |
Last Update: 10:40 AM ET 5/10/2021 |
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Among exchange traded funds, the Innovator IBD 50 (FFTY) dropped 0.5% Monday. Nasdaq 100 tracker Invesco QQQ Trust ETF (QQQ) traded down 1.4%. Meanwhile, the SPDR S&P 500 ETF (SPY) fell a fraction.
Stock Market Rally: Dow Jones, S&P 500 At Record Highs
Friday's strong gains propelled the Dow Jones industrials and S&P 500 to new highs. The tech-heavy Nasdaq remains about 4% off its own all-time highs.
Friday's Big Picture column commented, "With two major stock indexes at record highs and the Nasdaq 100 back above a key level, IBD's stock market outlook was upgraded from "uptrend under pressure" to "confirmed uptrend." This means investors can increase some exposure to stocks."
For more stock market commentary, check out IBD's The Big Picture.
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Covid Vaccine Maker BioNTech
Coronavirus vaccine maker BioNTech surged as much as 9.7% after reporting better-than-expected Q1 earnings and announcing a big expansion in Asia.
Shares are on pace to add to Friday's 9.4% advance and are about 8% from their all-time highs. The stock pared gains to about 6% in morning trade.
Dow Jones Stocks: Goldman Sachs
Dow Jones investment bank Goldman Sachs is in buy range past a flat base's 356.95 buy point, according to IBD MarketSmith chart analysis, after last week's breakout move. Shares rallied 1% Monday morning and are trading near the top of the buy zone that runs up to 374.80.
The latest base is a second-stage formation, indicating the stock could still be in the earlier part of a long-term price advance.
The investment banking giant is on a tear in 2021, already up more than 35% year to date.
Stocks To Buy And Watch: Deere, MarineMax
Wednesday's IBD 50 Stocks To Watch pick, Deere, is trying to break out past a 392.52 buy point in a flat base, according to IBD MarketSmith chart analysis. Shares ended Friday just above the buy point. They tacked on another 0.8% Monday morning and are in buy range.
Deere is an IBD SwingTrader stock.
IBD 50 stock MarineMax is breaking out past a 64.09 buy point in a cup base, according to IBD MarketSmith chart analysis. Shares jumped another 7% Monday and are moving out of the 5% buy area that tops out at 67.29.
According to IBD Stock Checkup, MarineMax stock boasts a perfect 99 IBD Composite Rating. The IBD Composite Rating helps investors easily measure the quality of a stock's fundamental and technical metrics.
IBD Live: A New Tool For Daily Stock Market Analysis
Tesla Stock
Tesla stock skidded about 4% Monday, falling further below its key 50-day moving average.
The EV giant is forming a new cup with handle, offering a 780.89 buy point. But it is a late-stage base.
On Jan. 25, Tesla stock hit a record high at 900.40, after climbing as much as 93% from a 466 buy point in a cup with handle.
Dow Jones Leaders: Apple, Microsoft
Among the top Dow Jones stocks, Apple sold off 1.4% Monday, on pace to snap a three-day win streak. Shares are rebounding from their 50-day line following a short-lived breakout on April 29 past a cup with handle's 135.63 buy point
Software giant Microsoft lost 0.8% Monday, as the stock trades in the 5% buy range past a flat base's 246.23 buy point, according to IBD MarketSmith chart analysis. The buy zone goes up to 258.54.
The stock found much-needed support at its 50-day line on May 6.
Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones Industrial Average.
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