The Dow Jones Industrial Average briefly rallied 50 points before turning lower Wednesday, as Tesla stock surged. Dow Jones leader Apple is approaching a new buy point, while Microsoft is in buy range.
XAmong the Dow Jones leaders, Apple (AAPL) fell 0.3% Wednesday, while Microsoft (MSFT) moved down 0.2% in today's stock market. Microsoft is just above a new entry.
Tesla (TSLA) raced nearly 5% higher Wednesday, as it looks to rebound from a long-term support level.
Among the top stocks to buy and watch, Alphabet (GOOGL), KKR (KKR), PayPal (PYPL) and Pool (POOL) are trading in or near buy zones.
Alphabet and Microsoft are IBD Leaderboard stocks. PayPal was featured in this week's Stocks Near A Buy Zone column. KKR is an IBD SwingTrader stock. Pool was Monday's IBD Stock Of The Day.
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Dow Jones Today
The Dow Jones Industrial Average was slightly lower Wednesday after giving up mild gains, while the S&P 500 moved up less than 0.1%. The tech-heavy Nasdaq composite rallied 0.2% in midday trade.
U.S. Stock Market Today Overview |
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|---|---|---|---|---|
| Index | Symbol | Price | Gain/Loss | % Change |
| Dow Jones | (0DJIA) | 33929.79 | -15.79 | -0.05 |
| S&P 500 | (0S&P5) | 4250.51 | +4.07 | +0.10 |
| Nasdaq | (0NDQC ) | 14289.86 | +36.59 | +0.26 |
| Russell 2000 | (IWM) | 229.05 | +1.14 | +0.50 |
| IBD 50 | (FFTY) | 45.00 | +0.33 | +0.74 |
Last Update: 10:48 AM ET 6/23/2021 |
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Among exchange traded funds, the Innovator IBD 50 (FFTY) traded up 0.6% Wednesday. Nasdaq 100 tracker Invesco QQQ Trust ETF (QQQ) moved up 0.1%. Meanwhile, the SPDR S&P 500 ETF (SPY) gained 0.1%.
Stock Market Rally
The S&P 500 looked to extend a win streak to three sessions Wednesday after retaking its key 50-day line Monday. The Dow Jones Industrial Average remains below its own 50-day line. Meanwhile, the tech-heavy Nasdaq hit more all-time highs Wednesday morning.
Tuesday's Big Picture column commented, "One day, the 'undervalued' commodity, financial and industrial plays win the title for most bullish action. Another day, the 'priced for perfection' growth names occupy the top of the market's heap. But on Tuesday, institutions made this clear for now: The uptrend lives on."
For more stock market commentary, check out IBD's The Big Picture.
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Dow Jones Stocks: Microsoft
Dow Jones software giant Microsoft is breaking out above a new cup base's 263.29 buy point, according to IBD MarketSmith chart analysis. Shares fell 0.2% Wednesday and are in buy range. The 5% buy zone goes up to 276.45. The stock's relative strength line is nearing recent highs, a positive sign of stock market outperformance in recent weeks.
On Tuesday, Microsoft joined Apple in the $2 trillion-valuation club.
Stocks To Buy And Watch: Alphabet, KKR, PayPal, Pool
FANG stock leader Alphabet is back below a 2,431.48 buy point in a flat base following Wednesday's early 0.1% loss.
According to IBD Stock Checkup, GOOGL stock boasts a perfect 99 IBD Composite Rating. The IBD Composite Rating easily identifies stocks with a blend of strong fundamental and technical characteristics.
IBD SwingTrader stock KKR is tracing a cup base with a 59.25 buy point, according to IBD MarketSmith chart analysis. Shares gained 1.2% Wednesday and are in buy range.
IBD Leaderboard stock PayPal is in the 5% buy range past a 277.96 buy point. The stock was raised to a half position on Leaderboard on Friday due to recent strength. The 5% buy zone goes up to 291.86. Shares rose 0.1% Wednesday.
Monday's IBD Stock Of The Day, Pool, surged past a 449.54 buy point in a flat base. Shares lost nearly 1% Wednesday, but are still in buy range.
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Tesla Stock
Tesla stock advanced nearly 5% Wednesday, aiming to add to Tuesday's 0.5% gain. The EV giant continues to battle for support around its long-term 200-day line and is back above it. Meanwhile, the stock is trying to regain its key 50-day line, which it has been below since early May. A new base could be forming, but the stock is far away from any new buy point.
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
Among the top Dow Jones stocks, Apple lost 0.2% Wednesday, on pace to give back a part of Monday's 1.4% advance. Apple stock continues to trace a new cup base with a 137.17 buy point.
Shares are about 2% away from the entry.
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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