The Dow Jones Industrial Average rose while the Nasdaq rebounded in the session where stocks were looking for direction. Meanwhile, enthusiastic booking data continued in airline stocks Apple (AAPL) and Nike (NKE) The top was blue chips.
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However, amid concerns about blood clots, the covid vaccine has been suspended in major European countries, including Germany and France.
Delta Air Lines (DAL), American Airlines (AAL) and United Airlines (UAL) Tourists all benefited tremendously as they returned to the sky. In EV stocks, Tesla (Like TSLA) also high edge Neo (NIO) Hit reverse.
Germany, France suspended vaccine
Largest EU countries moved on Monday to postpone EXFord rolloutsAstraZeneca (AZN) Covid vaccine. Germany, France, Spain and Italy took the step after blood clots broke out in Europe. Shares of AstraZeneca were flat.
While the World Health Organization says the vaccine is not approved for use in the US, for which there is no evidence, EU nations have decided to wait for a safety check. Many smaller European countries, including Denmark, the Netherlands and Norway, have already postponed the job.
Meanwhile, the 10-year Treasury yield slipped somewhat, but reached above 1.6%. Yields move in the opposite direction to bond prices.
The Federal Open Market Committee is scheduled to meet on Tuesday and Wednesday. Investors will see if it will change its outlook on interest rates. Federal Reserve Chairman Jerome Powell may take a more proactive tone to calm market concerns.
Nasdaq release; S&P 500 flat
The Nasdaq managed to get out of the red, and it was the best performing main index. It rose a slim 0.3%. NXP Semiconductor (NXPI), which is being added to the S&P 500, performed best, rising about 8%.
US stock market observed today |
||||
|---|---|---|---|---|
| Index | Symbol | Price | Advantages / disadvantages | Change% |
| Dow Jones | (0 DJIA) | 32797.83 | +19.19 | +0.06 |
| S&P 500 | (0s and p5) | 3942.73 | -0.61 | -0.02 |
| Nasdaq | (0NDQC) | 13347.80 | +27.94 | +0.21 |
| Russell 2000 | (IWM) | 233.85 | +0.26 | +0.11 |
| IBD50 | (FFTY) | 47.13 | +0.11 | +0.23 |
Last updated: 1:14 PM ET 3/15/2021 |
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The S&P 500 was barely in the green. Out of airline stocks, Gap (GPS) performed best with an increase of about 7%.
The volume was higher compared to Friday. Trading rose around 13% on the Nasdaq and 3% on the NYSE.
With utilities and real estate leading, the S&P sectors were mixed. The biggest volatility was financial and energy.
Smaller caps were fighting back, although Russell was only 0.1% in 2000.
Growth stocks outperformed the innovator IBD E0 ETF (FFTY) by about 0.3%.
Apple stock rising Dow Jones
The Dow Jones Industrial Average entered the positive territory after spending more of the session in the red. It gained less than 0.1%.
Apple Pal stock was among the best performing components, rising around 1.3%. It allowed the stock to move further away from its 200-day moving average.
Its next objective is to retake its 0-day line. It slipped below the benchmark after the cup-base breakout failed, Marquessmith analysis shows.
Nike was performing even better, posting an increase of almost %%. Nike stock forms a new base. The flat base offers a buy point of 148.05.
Nike’s earnings are due on Thursday. One approach published by Investors’ Professional Daily aims to use options as a strategy to reduce the risk surrounding earnings.
Airline stocks land on booking boost
Airline stocks surged after carriers reported bookings, while the Transportation Security Administration said screening had reached a one-year high.
The TSA said it screened more than 1.34 million people on Sunday. This is 86,000 more people compared to the same day last year, but 45% down from the same date in 2019.
Delta Air Lines and JetBlue Airways (JBLU) said bookings have increased as more people have been vaccinated this month. Delta Air Lines increased by about 3%. JetW was up more than 5%. American Airlines jumped more than 7% and United Airlines more than %%.
Southwest Airlines (LUV) gained a more marginal gain of about 1.5%.
While airline stocks are recovering, overall traffic levels or miles of revenue passengers remain well below pre-epidemic levels. Business travel in particular is expected to lag behind in leisure travel as more people work from home.
IBD Stock The F The Day Near By Point
Applied Materials (AMAT) is the IBD stock the day as it approaches a new buy point.
The company plans to hold Investor Day on April 6, in which an updated long-term guidance could be a catalyst for AMAT stock
AMAT stock bounced off the 10-week line last week, a sign of recovery. The 10 week line represents the average closing price in the previous 10 trading weeks.
Demand for chips for cloud-computing data centers, 5G wireless handsets and automobiles is driving sales of its devices. However, demand for flat-panel display manufacturing gear has remained weak.
Learn more about AMAT stock in the stock The F The Day column on Monday.
Tesla Stock Release, Neo Stock Reverse
Tesla stocks rebounded, posting a gain of about 1.5%. It comes after a 16% rally last week.
Tesla’s RS line is improving after a recent dip, and the stock is returning to its 50-day moving average.
Tesla stock had previously crashed from its 0-day line, but good overall performance means it has a composite rating of. It lost its place on the leaderboard due to the recent poor performance of Tesla Stock.
However, its Chinese rival Neo hit reverse gear, dropping about 2%. It breathes a sigh of relief after a 19% increase last week.
Neo stock is maroon below its 50-day moving average, but is now well clear from its 200-day line. The stock crashed as the 57.30 entry failed.
Please follow Michael Larkin on Twitter here @IBD_MLarkin For more on growth stocks and analysis.
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