A four-day rally in the stock market came to a pause Tuesday, as indexes were mixed and eased from opening highs.
X
The S&P 500 rose 0.1% as it tried for a fifth consecutive gain. The Nasdaq composite reversed lower to a 0.2% decline.
The Dow Jones Industrial Average climbed 0.5% to lead the major indexes. Boeing (BA) climbed more than 2% and now tests resistance at the 50-day moving average. Ethiopian Airlines and Indonesia plan to restart flights of the 737 Max, reports said.
Walt Disney (DIS) rose 2% also. The company’s Marvel studio has a hit with “Spider-Man: No Way Home,” which became the first pandemic-era movie to top the $1-billion global box office, according to Bloomberg. Apple (AAPL) now tests resistance around 180. It has a nearly 20% gain from its 153.26 buy point.
U.S. Stock Market Today Overview |
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|---|---|---|---|---|
| Index | Symbol | Price | Gain/Loss | % Change |
| Dow Jones | (0DJIA) | 36476.40 | +174.02 | +0.48 |
| S&P 500 | (0S&P5) | 4795.78 | +4.59 | +0.10 |
| Nasdaq | (0NDQC ) | 15847.00 | -24.26 | -0.15 |
| Russell 2000 | (IWM) | 225.27 | +1.15 | +0.51 |
| IBD 50 | (FFTY) | 46.16 | +0.07 | +0.15 |
| Last Update: 10:14 AM ET 12/28/2021 | ||||
The Russell 2000 was up 0.5% also. Volume fell on the NYSE and Nasdaq compared with the same time on Monday.
Digital Turbine, Novavax Active In Stock Market
Digital Turbine (APPS) jumped after the mobile app and advertising software firm announced a partnership with Alphabet‘s (GOOGL) Google. The company will work with Google Cloud partner SADA, using Digital’s advanced cloud and enterprise infrastructure to expand support of mobile experiences to end users.
Digital Turbine, an IBD 50 stock earlier this year, is rebounding from a 52% plunge from its Nov. 1 peak to Dec. 6 low. The stock pared gains to 3.4% early Tuesday, right as it tests the 50-day and 200-day moving averages.
Novavax (NVAX) rose more than 2% after health regulator in India gave emergency use authorization for its Covid-19 vaccine, Covovax. The Serum Institute of India will market the vaccine in India. The vaccine previously had approval from the European Commission and other authorities.
IBD 50 Flat In Stock Market Trading
Innovator IBD 50 ETF (FFTY) was up 0.1%. A few IBD 50 stocks are getting closer to buy points.
Perficient (PRFT) is forming a cuplike base with a 153.38 buy point. Tesla (TSLA) is forming a double bottom with a 1,202.05 buy point. KKR & Co. (KKR) is shaping a cup base with an 84 buy point. Alphabet (GOOGL) is in a flat base with a 3,019.43 entry.
Endava (DAVA), which was discussed in Stock Spotlight last week, is almost at its 172.51 buy point. CBRE Group (CBRE) is trying to break out past a 107.98 buy point.
Simply Good Foods (SMPL) climbed above the 41.45 buy point of a cup-without-handle base. But volume was running below average, which complicates the breakout.
Stock Market Breakouts
Outside the IBD 50, Eagle Materials (EXP) rose above the 16.52 buy point of a flat base. But the price and volume action was tentative.
In economic news, the S&P CoreLogic Case-Shiller 20-city home price index rose 0.8% in October, missing the Econoday consensus estimate of a 1% increase from the previous month. On a year-over-year basis, the index jumped 18.4%, slightly less than estimates for 18.6%.
The SPDR S&P Homebuilders ETF (XHB) rose 0.6% and continues to rise from a pullback to the 50-day moving average.
Juan Carlos Arancibia is the Markets Editor of IBD and oversees our market coverage. Follow him at @IBD_jarancibia
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