The Dow Jones Industrial Average was higher Monday as the Trump stock market rally continued. Tesla (TSLA) topped a profit goal even as fellow Magnificent Seven name Nvidia (NVDA) lagged. Fund manager Cathie Wood snapped up a beaten-down stock while Coinbase Global (COIN) cleared an entry as bitcoin surged.
It was just one of a plethora of breakouts.
The Dow Jones industrials popped nearly 400 points, or 0.9%. The Nasdaq composite was lagging, slipping fractionally. Nevertheless, strong gains mean it sits more than 6% above its 50-day moving average.
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Stock Market Today: Financials Strong, Tech Lags
Top performers on the tech-heavy Nasdaq composite included Grail (GRAL), which popped more than 7%, and PayPal (PYPL). Beaten down AI stock Super Micro Computer (SMCI) slid around 8%.
The benchmark S&P 500 squeezed out a 0.3% gain. Bristol Myers Squibb (BMY) outperformed as it rallied nearly 12%. An experimental schizophrenia treatment from AbbVie (ABBV) failed in a pair of midstage studies.
The S&P 500 sectors were mixed, with a bias to the upside. Financials and consumer discretionary were the best performers, while health care and technology were the worst performing. Weakness in chip stocks was a reason for the latter group’s issues, with the semiconductor fabless group the worst performer among the 197 IBD industry groups.
Volume was up on the Nasdaq but lower on the New York Stock Exchange compared with the same time on Friday.
Small caps were outperforming, with the Russell 2000 jumping 1.5%. Growth stocks were also strong, with the Innovator IBD 50 (FFTY) exchange traded fund up nearly 2%.
Breakout Watch: Coinbase Clears Entry
With the so-called Trump Trade currently the talk of Wall Street, one noteworthy stock was breaking out on the stock market today.
Coinbase stock cleared a late-stage pattern with an entry point of 283.48, according to MarketSurge analysis. It is already extended from this buy point amid a gain of nearly 17% in midday trading. The stock also can be interpreted as a double bottom with a 272.55 entry.
The cryptocurrency exchange play holds a best-possible IBD Composite Rating of 99. Both earnings and, in particular, price performance are stout.
Bitcoin was up nearly 6% over the past 24 hours and was trading at more than $84,000 per coin, according to CoinDesk.
Stock Market Today: Shoe Stock Runs Past Entry
On Holding (ONON) is in a buy zone after clearing a flat-base entry of 52.80. This is an early stage base for the sneakers play.
Overall performance is strong, with its IBD Composite Rating coming in at 93 out of 99. Earnings growth is seen slowing to 8% in 2025, which is not ideal.
It comes after fellow shoe company Deckers Outdoor (DECK) made it onto the IBD Leaderboard list of top stocks amid strong performance.
However, those tempted to buy now may be better holding off, because earnings are due Tuesday before the open.
Shopify (SHOP) is clearing a consolidation pattern with an ideal entry point of 91.57. A better buy point was at 84.37.
Overall performance is excellent, with its Composite Rating sitting at 98. However earnings are also due Tuesday for Shopify.
Mining Stocks Lag
There was noteworthy weakness among mining stocks Monday. Both the gold mining and metal ore mining groups were lagging.
The likes of Newmont (NEM) flashed sell signals, with shares falling below the 200-day moving average. Former Leaderboard stock Agnico-Eagle Mines (AEM) fell back below its 50-day moving average.
Among the metal miners, Freeport-McMoRan (FCX) lost ground on its major moving averages amid a decline of nearly 3%.
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Dow Jones Today: Nvidia Stock Is Worst Laggard
The Dow Jones Industrial Average may have been positive, but it was no thanks its most high-profile new member.
Nvidia stock fell around 2% in early trade. It continues to trade in the buy zone above a 140.76 consolidation entry, MarketSurge analysis shows.
Nevertheless, the IBD Leaderboard stock has a strong IBD Composite Rating of 97, with earnings performance in particular a key strength.
Apple (AAPL) also lagged on the Dow as it fell nearly 2%.
In contrast, Salesforce (CRM) was the top performer on the Dow Jones today as it popped more than 4%. Goldman Sachs (GS) was also strong.
Tesla Rally Continues, Stocks Clears Profit Goal
Another Magnificent Seven play was faring rather better.
Tesla stock continued its recent rally as it rose around 7% in early trade. While off initial highs, it popped as much as 32% above a cup-with-handle buy point of 264.86.
While its IBD Composite Rating of 88 out of 99 is still not quite ideal, it has been improving. Its EPS Rating of 77 is a weakness.
Tesla is also among the top 5% of issues in terms of price performance over the past 12 months. It is on track for its highest close since April 19, 2022, according to Dow Jones Market Data.
Outside Dow Jones: Cathie Wood Buys Stock After Plunge
There are few fund managers more closely watched than ARK Invest’s Wood. And she was making moves again as she positioned herself for the Trump rally.
Her ARK Innovation ETF (ARKK) bought 76,120 shares of Crispr Therapeutics (CRSP) on Friday.
As of Friday’s close, the stock had fallen more than 43% from its February high of 91.10. The move immediately paid off for Wood as the gene-based medicine stock rallied more than 7% on the stock market today.
Additionally, poor overall performance is reflected in its IBD Composite Rating of 32 out of 99.
Among other moves Friday, the fund snapped up 93,243 Illumina (ILMN) shares and 41,794 shares in Trade Desk (TTD). It also sold shares in SoFi Technologies (SOFI) and Unity Software (U).
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