U.S. stocks opened the week on solid ground after a bullish week for the major stock indexes last week. The Nasdaq composite was up 0.9%, helped by a strong performance for Apple stock, which hit an all-time high. The Dow Jones Industrial Average lagged, weighed down by weak performances for American Express (AXP), Boeing (BA), JPMorgan (JPM), Travelers (TRV) and Goldman Sachs (GS).
XThe S&P 500 hit a fresh high, up 0.6%, along with the Nasdaq Monday.
Top gainers in the S&P 500 included Baxter International (BAX). BAX stock jumped more than 3% after The Wall Street Journal reported the company is in advanced talks to acquire medical technology firm Hill-Rom (HRC) for $10 billion. Hill-Rom shares rose 10%.
Etsy (ETSY) also outperformed in the S&P 500, up nearly 4%. Etsy stock gave a buy signal on Thursday when it topped a 211.92 entry point in strong volume.
U.S. Stock Market Today Overview |
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|---|---|---|---|---|
| Index | Symbol | Price | Gain/Loss | % Change |
| Dow Jones | (0DJIA) | 35476.64 | +20.84 | +0.06 |
| S&P 500 | (0S&P5) | 4534.79 | +25.42 | +0.56 |
| Nasdaq | (0NDQC ) | 15270.86 | +141.36 | +0.93 |
| Russell 2000 | (IWM) | 225.72 | -0.69 | -0.30 |
| IBD 50 | (FFTY) | 48.61 | +0.61 | +1.27 |
Last Update: 1:14 PM ET 8/30/2021 |
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The Nasdaq 100 delivered several bullish price gainers as well.
PayPal (PYPL), an IBD Long-Term Leader and Leaderboard stock, gained 3% on news the company is exploring a stock-trading platform for U.S. customers.
Idexx Laboratories (IDXX), Lululemon Athletica (LULU) and Tesla (TSLA) also showed strong gains in the Nasdaq 100.
Idexx is actionable now as the stock finds support at the 10-week moving average. LULU stock hit an all-time high ahead of its Sept. 8 earnings report. Tesla added nearly 2% as it vies for a breakout over a 730 buy point.
Dow Jones Today
The Dow Jones industrials were up less than 0.1% at around 1:30 p.m. ET. Apple (AAPL) was the top performer in the blue-chip index, up more than 2% to an all-time high.
Home Depot (HD) also outperformed in the Dow Jones today, up 1.5%. The home improvement chain is finding support at the 50-day moving average after a negative reaction to earnings on Aug. 17.
Honeywell (HON) looked to extend a six-session win streak, up 0.4%. It's sitting just below a 236.96 entry.
Outside of the Dow Jones, growth stocks extended their recent string of outperformance days. After soaring 6% last week, the Innovator IBD 50 ETF (FFTY) was up 1.3%, led by strength in recent IPOs like Monday.com (MNDY) and Global-e Online (GLBE).
Generac (GNRC) also did well in the IBD 50 index of leading growth stocks, up nearly 3%. The Leaderboard stock made a nice stand at its 10-week line last week.
Outside of the IBD 50, Affirm (AFRM) was the star of the day, up more than 40%. Late Friday, the company said it reached a deal with Amazon.com (AMZN) to offer an installment payment option at checkout.
In the retail sector, Floor & Decor (FND) performed well in the MarketSmith Growth 250, up more than 3%. The hardwood flooring retailer is in an alternate buy zone after a breakout from a cup with handle in July.
Follow Ken Shreve on Twitter @IBD_KShreve for more stock market analysis and insight.
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