Key market indexes traded near session lows midday Friday, with the Dow Jones Industrials down 200 points as Microsoft and Apple weighed.
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The Nasdaq tumbled 1.1%, the S&P 500 fell 0.8% and the Dow Jones industrials gave up 0.6% in the stock market today. Small caps tracked by the Russell 2000 eased 0.3%. Volume was higher on both major exchanges vs. the same time Thursday, due to today’s quadruple witching.
Among exchange traded funds, Innovator IBD 50 (FFTY) stumbled 0.9%, while the Nasdaq 100-tracking Invesco QQQ Trust (QQQ) fell 1%.
The U.S. economy continues to recover from the Covid-19 pandemic, which triggered nationwide lockdowns over a year ago. Most states had relaxed restrictions as vaccinations continued to roll out and cases decreased. But cases are rapidly rising again and mask mandates are returning in some states as the delta variant spreads.
U.S. Stock Market Today Overview |
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|---|---|---|---|---|
| Index | Symbol | Price | Gain/Loss | % Change |
| Dow Jones | (0DJIA) | 34560.07 | -191.25 | -0.55 |
| S&P 500 | (0S&P5) | 4438.26 | -35.49 | -0.79 |
| Nasdaq | (0NDQC ) | 15017.52 | -164.41 | -1.08 |
| Russell 2000 | (IWM) | 221.57 | -0.62 | -0.28 |
| IBD 50 | (FFTY) | 50.27 | -0.43 | -0.85 |
Last Update: 11:58 AM ET 9/17/2021 |
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Cumulative Covid-19 cases worldwide are approaching 227 million, with nearly 4.7 million deaths, according to Worldometer. In the U.S., cases have topped 42 million with more than 682,000 deaths.
Growth Stocks To Watch
Snap (SNAP), up nearly 3%, led the IBD Leaderboard list. The stock is working on a flat base with an 80.95 buy point, according to MarketSmith chart analysis. It’s about 8% below the entry. Game developer Zynga (ZNGA) on Friday announced plans to launch “ReVamp,” a multiplayer social deception game, on the Snapchat social media site.
Also on Leaderboard, InMode (INMD) advanced 2% in heavy trade to a new high. Shares have rebounded from Monday’s 10% plunge, which handed InMode the biggest single-day point loss of its entire run. Taking full profits still remains an option. Early Friday, the medical aesthetics company announced a 2-for-1 stock split.
Invesco (IVZ) gapped up and soared 6% in fast turnover to move firmly above its 50-day moving average. The stock is starting the right side of a potential base that’s mostly below the 50-day line. Late Thursday, the Wall Street Journal reported that the investment manager was in talks with State Street (STT) regarding a possible merger. State Street shares were down more than 2%.
BeiGene (BGNE) gapped up early Friday but pared its gain to 4%. Shares jumped past a 389.07 buy point of a seven-month consolidation in heavy volume. European regulators recommended the China-based biotech’s Brukinsa to treat a rare type of Non-Hodgkin lymphoma. Earlier this week, BeiGene said the FDA granted fast-track status to Brukinsa for certain lymphoma patients.
AutoNation On The Move
Over in the IBD 50, AutoNation (AN) led with a 6% gain, on track for a fifth straight advance. The car dealership operator’s stock is…
Read More: Dow Jones Drops As Apple, Microsoft Weigh; Stock Market Hit Hard