Dow Jones Dips As Apple Stock Pops; Nike Rallies; Donald Trump SPAC
The Dow Jones Industrial Average fell even as Apple (AAPL) popped and Nike (NKE) ran back into a buy zone. The Donald Trump SPAC Digital World Acquisition (DWAC) continued to fall following calls for an SEC probe into the deal. Leaderboard stock Airbnb (ABNB) dipped amid rising Covid worries.
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Meanwhile, a trio of stocks managed to pass entries despite the mixed action. Pfizer (PFE), Domino’s Pizza (DPZ) and Energy Recovery (ERII) moved above buy points.
Nasdaq Gains As Tech Stocks Excel
The Nasdaq benefited from continued enthusiasm for tech stocks. It was up about 0.5%. Intuit (INTU) was faring best here, shooting up more than 9% on an earnings beat, with strong growth in online accounting revenue a highlight.
The S&P 500 was struggling for momentum, dipping slightly into the red. Intuit was also the top performer here, while Apache parent APA Corp. (APA) weighed with a drop of more than 6%.
U.S. Stock Market Today Overview |
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|---|---|---|---|---|
| Index | Symbol | Price | Gain/Loss | % Change |
| Dow Jones | (0DJIA) | 35607.86 | -263.09 | -0.73 |
| S&P 500 | (0S&P5) | 4702.25 | -2.29 | -0.05 |
| Nasdaq | (0NDQC ) | 16074.13 | +80.42 | +0.50 |
| Russell 2000 | (IWM) | 233.07 | -1.79 | -0.76 |
| IBD 50 | (FFTY) | 50.93 | -0.01 | -0.02 |
Last Update: 2:50 PM ET 11/19/2021 |
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The S&P sectors were mostly negative, but technology and consumer discretionary were both in the green. Financials and energy were the worst performers.
Small caps struggled amid the weakness among financials. The Russell 2000 was down about 0.8%. Small-cap value stocks were struggling even as small-cap growth stocks were hitting new highs.
The battle between the bulls and the bears was finely poised among growth stocks. The Innovator IBD 50 ETF (FFTY) was roughly flat.
Dow Jones Slips As Apple Stock, Nike Do This
The Dow Jones Industrial Average fell even as Apple continued to drive higher following reports it is looking to bring an electric car to market as early as 2025.
The iPhone maker is now extended past the buy zone of a cup-with-handle base, according to MarketSmith analysis. The ideal buy point was 153.26.
It has been boosted following a Bloomberg report which said the tech giant is refocusing its car project around full self-driving capabilities. There is speculation it will not even have a steering wheel.
But it was Nike that was running highest on the Dow Jones today. The stock gained almost 4% in solid volume as it ran past a 174.48 buy point. It had previously cleared the entry on Nov. 4.
The shoe and athletics gear firm has just notched its 20th straight year of dividend hikes after boosting its quarterly dividend by 11% to 30.5 cents per share.
On Thursday, Nike said it’s created Nikeland, a virtual world on the Roblox gaming platform. Nikeland lets players customize their avatar with Nike products.
Boeing (BA) was the biggest Dow Jones laggard. It plunged more than 5%.
The decline comes after the aerospace giant walked away with aircraft orders and commitments at the Dubai Airshow. European rival Airbus (
Read More: Dow Jones Dips As Apple Stock Pops; Nike Rallies; Donald Trump SPAC