Stocks were mixed midday Monday, as the Dow Jones Industrial Average erased nearly all of its early gains and the Nasdaq fell further.
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The Dow Jones industrials was flat, the S&P 500 slipped 0.1% and the Nasdaq fell 0.3% in the stock market today. Small caps tracked by the Russell 2000 lagged, down 0.6%. Volume was mixed, higher on the NYSE and lower on the Nasdaq, vs. the same time Friday.
Among exchange traded funds, Innovator IBD 50 (FFTY) fell 1.7%, while the Nasdaq 100-tracking Invesco QQQ Trust (QQQ) slipped 0.1%. The IBD 50 ETF is still trading below a 52.56 buy point in a flat base, after finding support at its 50-day line last week.
The U.S. economy continues to recover from the Covid-19 pandemic, which triggered nationwide lockdowns over a year ago. A resurgence in cases fueled by the more contagious delta variant has been slowing down as vaccinations rise.
Globally, Covid-19 cases have topped 254 million, with over 5 million deaths, according to Worldometer. In the U.S., cases are approaching 48 million with nearly 784,000 deaths.
Growth Stocks To Watch
Lucid Group (LCID) advanced nearly 3% in fast turnover, ahead of earnings due after the close. Shares are sharply extended from a 28.49 buy point of a cup with handle. Analysts expect Lucid to lose 25 cents a share on sales of $1.3 million, according to FactSet.
U.S. Stock Market Today Overview |
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|---|---|---|---|---|
| Index | Symbol | Price | Gain/Loss | % Change |
| Dow Jones | (0DJIA) | 36104.97 | +4.66 | +0.01 |
| S&P 500 | (0S&P5) | 4679.75 | -3.10 | -0.07 |
| Nasdaq | (0NDQC ) | 15815.78 | -45.18 | -0.28 |
| Russell 2000 | (IWM) | 237.97 | -1.53 | -0.64 |
| IBD 50 | (FFTY) | 50.27 | -0.88 | -1.72 |
Last Update: 12:02 PM ET 11/15/2021 |
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On Monday, MotorTrend Magazine named the luxury electric-vehicle maker’s Lucid Air sedan its 2022 Car of the Year, Barron’s reported. That marks the first time an automaker won the award for a new car just rolling off production lines, Barron’s said. The Newark, Calif.-based company started deliveries of its Lucid Air sedan in late October.
Rivian Automotive (RIVN), which made its highly anticipated debut last week, continued its win streak. Shares surged 13% Monday, and are now 89% above their IPO price of $78 a share, which raised $11.9 billion. Rivian is now planning major expansion projects.
Despite RIVN stock’s initial surge, remember that investors should be disciplined about buying new issues. Wait for an IPO base to form and offer the stock’s first buy point before considering a purchase.
Tesla (TSLA) skidded more than 4% in fast trade to fall below the 21-day exponential moving average. CEO Elon Musk sold about $6.9 billion worth of Tesla stock last week, filings show. That may be one of the biggest stocks sales by a chief executive over a period of just several days.
IBD 50 Action
Over in the IBD 50, CrowdStrike (CRWD) dived more than 10% in huge volume to breach its 50-day moving average, triggering a sell signal. Shares are now 12% below a 289.34 buy point of a cup base, according to…
Read More: Dow Jones Erases Early Gains; Rivian Surges, Lucid Stock Rallies