The Dow Jones Industrial Average rose about 0.4% in early afternoon trading. Apple (AAPL) and Microsoft (MSFT) led upwards. Tesla (TSLA) stock went into reverse after CEO Elon Musk spoke of a deal in question. Leaderboard games Generac (GNRC) fell on disappointing results.
A number of stocks passed proper buy points in the midst of the mildly positive action. Skyline Champion (SKY), Goldman Sachs (GS), Tradeweb Markets (TW) and Ingersoll Rand (IR) tested records.
Nasdaq up as lowercase layers
The Nasdaq was rising, although its 0.1% rise was small. Nvidia (NVDA) was one of the best winners with an increase of more than 2%.
The S&P 500 also rose by a small 0.4 per cent. Under armor (UAA) participated here and rose almost 20% on a beat and raise.
Overview of the US stock market today
|Index||Symbol||Price||Profit / loss||% Change|
|S&P 500||(0S & P5)||4628.91||+15.24||+0.33|
Last update: 13:30 ET 2/11/2021
The S&P sectors were mostly positive, with materials and health leading. Energy and consumer estimates were the worst laggards.
Small caps were behind the large indices, with Russell 2000 falling 0.2%.
Growth stocks, however, were handled most by the bears, with the Innovator IBD 50 ETF (FFTY) falling 0.9%. Still, this follows three days of strong gains.
Dow Jones rises as Apple stock, Microsoft falls
Within the Dow Jones index of 30 stocks, Apple stock rose just over 1 percent. It is now trying to pull away from its 50-day moving average.
Apple has formed a shallow cup with a buy point of 157.36 according to MarketSmith analysis.
Microsoft stock, another member of the Dow Jones index, also managed to move higher and rose just below 1%. The stock has continued to expand from a flat buy point of 305.94.
The Leaderboard stock managed to maintain its status as the world’s most valuable company. It snatched the title from Apple last Friday.
Cisco systems (CSCO) was the leading Dow Jones stock today, rising nearly 3%. Visa (V) limped and fell almost 2%.
Tesla Stock hits reverse gear after Elon Musk Tweet
Tesla shares fell over 5% before the market on Tuesday after CEO Elon Musk tweeted that a contract with Hertz has not yet been signed.
He said the demand far exceeds the company’s production capacity and that it will only sell cars to Hertz by the same margins as to consumers. He also said the agreement “has no effect on our economy.”
Hertz said, however, that deliveries have already begun.
“As we announced last week, Hertz has placed an initial order for 100,000 Tesla electric cars and is investing in new EV charging infrastructure across the company’s global activities,” a spokeswoman said.
Last week, the EV giant’s shares moved above a $ 1 trillion valuation milestone on the news that Tesla had partnered with Hertz, one of the largest car rental companies in the world, to supply it with 100,000 vehicles by the end of 2022.
Meanwhile, Tesla is recalling nearly 12,000 U.S. vehicles due to a software communication failure that could cause an unexpected activation of the emergency braking system, according to a statement submitted to the National Highway Traffic Safety Administration.
The IBD Leaderboard stock continues to expand well past a long cup-base buying point of 900.50.
Leaderboard Play forces higher despite this
Generac fell after its most recent earnings report. The herd had tried to retreat, but the bears overpowered the bulls.
The stock fell about 5% after earnings in the third quarter. Plus, the big energy grid fell back into its buying zone from a 467.02 entry.
EPS rose 13% to $ 2.35 million, while net sales rose 34% to $ 943 million. Analysts expected EPS of $ 2.39 and revenue of $ 959 million, according to Zacks Investment Research.
The power generation company also announced that it is buying Canada-based smart thermostat manufacturer Ecobee in a cash-and-share deal that could be worth up to $ 770 million. This price depends on Ecobee reaching certain performance targets.
Fertilizer stock action stinks like earnings, sales fr
Fertilizer storage Mosaic (MOS) fell more than 9% after missing on the top and bottom line, even though it moved from lows.
It is back below a cup entry of 38.33, but managed to find support at the 50-day moving average.
The phosphate manufacturer reported an adjusted EPS of $ 1.35, which missed Wall Street impressions for $ 1.59, according to Zacks Investment Research.
Revenue rose 44% to $ 3.42 billion, but it was lower than analysts’ impressions of $ 3.8 billion.
This could have consequences for the high-flying Agricultural Chemicals Industry Group. It was one of Tuesday’s worst groups, and the report could threaten its leadership.
The Ag group ranked No. 30 out of all 197 IBD industry groups tracked this week and had been in constant improvement.
Beyond Dow Jones: These stocks are passing buy points
Dow Jones Industrial Average Goldman Sachs is active after clearing a new flat base with a buying point of 420.86.
The banking giant sees its relative strength line gaining momentum and offering strong price and earnings.
Tradeweb Markets is also in a buying zone after moving past a cup base entry of 89.89. This is a third step pattern that is not ideal.
The overall performance is strong, even though the stock market’s performance outperforms earnings.
Industrial equipment game Ingersoll Rand broke past a shallow seven-week cup with handles of 55.14. However, earnings fall due, which adds risk.
Skyline Champion briefly rose above a flat base of 66.92, but turned around quickly. Mobile home maker now sits below its point of purchase.
Please follow Michael Larkin on Twitter at @IBD_MLarkin for more on growth stocks and analytics.
YOU CAN ALSO LIKE:
Do you miss Tesla? Here’s The Next $ 1 Billion Company
MarketSmith: Research, charts, data and coaching in one place
These are the 5 best stocks to buy and see now
The ultimate Warren Buffett stock is close to a buy point, but should you buy it?
Is Walmart stock a buy right now? Here’s what charts analysis shows