Dow Jones Fights Back As Microsoft Snatches Apple Crown; Donald Trump

The Dow Jones Industrial Average rallied into positive territory as Microsoft (MSFT) snatched Apple‘s (AAPL) crown as the world’s most valuable company. Meanwhile, the Donald Trump SPAC is on track for a huge weekly drop. Amazon (AMZN) took a dive on disappointing results.

Stocks closed at record highs and notched their best month of the year so far. A number of stocks managed to pass buy points amid the positive action. CubeSmart (CUBE), Extra Space Storage (EXR) and Freshworks (FRSH) passed entries.

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Earlier in the day, the Commerce Department released mixed data on personal spending and consumer price data for September.

Personal incomes dived 1%, vs. a 0.2% gain in August and against expectations for a 0.1% decline. Personal spending rose 0.6%, slower than August, but above projections. Prices rose 0.3%, just below estimates, while core prices rose 0.2% — in line with forecasts.

National Securities chief market strategist Art Hogan said next week’s earnings reports will be critical.

“Thus far investors have looked at supply chain issues as temporary, and chosen to focus on exploding aggregate demand,” he said in a note to clients. “We are just about halfway through the corporate confessions, and there will most certainly be some more bumps in the long and winding road ahead. By the end of next week 90% of the S&P 500 will have reported third quarter results.”

Nasdaq Gains, Growth Stocks Lead

The Nasdaq inched higher after a late rally, rising closing up 0.3%. Atlassian (TEAM) was the star of the index, gaining nearly 10% for the day.

The S&P 500 also battled its way into green territory, inching up 0.2%. Diabetes treatment play Dexcom (DXCM) fared best here, rising more than 9%.

The S&P sectors were mostly red, with health and communication services making the best gains. Energy and real estate fared worst of all.

Small caps had been struggling, but the Russell 2000 managed to close unchanged.

Growth stocks fared best of all, with the Innovator IBD 50 ETF (FFTY) rising 0.7%.

Dow Jones: Microsoft Snatches Title As Reality Bites Apple

The Dow Jones Industrial Average managed to make its way into positive territory, closing with a gain of nearly 0.3%.

It was helped by the performance of Microsoft stock, which closed with a gain of over 2%. This saw its market cap swell to $2.49 trillion, which means it is now the world’s most valuable public company.

The Leaderboard stock is extended past a 305.94 buy point from a flat base.

Apple lost its market-cap crown after it gapped down on poor results Friday, closing down nearly 2% in heavy volume. It managed to finish off its lows for the day

The iPhone maker tumbled after it…