The Dow Jones Industrial Average pared early losses in today’s stock market and traded slightly higher. Meanwhile, the Nasdaq traded slightly lower as the Russell 2000 and S&P 500 traded close to break-even on the final trading day of 2021.
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Stock Market Today
At around 3 p.m. ET, the Dow Jones industrials were trading up 0.1%. The Nasdaq composite held a loss of 0.3%, while the S&P 500 and Russell 2000 small-cap index fluctuated between small gains and small losses. Data showed volume was running lower on the Nasdaq and on the NYSE vs. the same time on Thursday.
The Dow Jones is on track to close out the year with a 17% year-to-date gain. Meanwhile, the S&P 500 is set to close up 24% and the Nasdaq up 19%. Despite the last few months being difficult for growth stocks, the Innovator IBD 50 ETF (FFTY) is still on track to close up nearly 13% in 2021.
U.S. Stock Market Today Overview |
||||
|---|---|---|---|---|
| Index | Symbol | Price | Gain/Loss | % Change |
| Dow Jones | (0DJIA) | 36435.14 | +37.06 | +0.10 |
| S&P 500 | (0S&P5) | 4778.95 | +0.22 | +0.00 |
| Nasdaq | (0NDQC ) | 15698.28 | -43.28 | -0.27 |
| Russell 2000 | (IWM) | 223.25 | +0.32 | +0.14 |
| IBD 50 | (FFTY) | 45.94 | +0.22 | +0.48 |
| Last Update: 2:58 PM ET 12/31/2021 | ||||
The Innovator IBD 50 ETF also outperformed the major indexes on Friday, up 0.5% in afternoon trading. The index is still aiming to reclaim its 200-day line after finding support at the 21-day exponential moving average.
Among the S&P sectors, real estate and industrials led the upside with modest gains of over 0.5% each. On the downside, the technology and communications sectors fell slightly.
Industry groups leading the upside among IBD’s 197 groups included lodging and shipping transportation stocks. On the downside were several retail-related industry groups including department stores and internet retail.
IBD’s market outlook remains in a confirmed uptrend. Thus, with a handful of stocks showing improved relative strength and promising setups, investors may consider adding exposure to stocks that are performing well.
But do so cautiously and remember that volatility remains high. Additionally, the market advance is showing signs of slowing after mild gains this week.
Dow Jones Today
In the Dow Jones today, stocks leading the upside included Home Depot (HD), which rose over 1.4%. Shares are on track for their eighth advance in the past nine sessions. The stock is the top performer in the Dow Jones industrials this year, with a 56% gain. Additionally, Walmart (WMT) also held a strong gain, over 1% in afternoon trading. Shares reclaimed their 50-day line, a bullish sign.
Microsoft (MSFT), the No. 2 top-performing Dow stock with a 52% gain, traded slightly lower on Friday. Shares were down 0.5%. The software giant is working on a new flat base with a 349.77 buy point. It’s also close to an early entry at 343.89.
Microsoft is a member of IBD Leaderboard and the Long-Term Leaders stock list.
Apple (AAPL) also traded slightly lower on Friday. But shares remains close to a 20% profit zone from a 153.26 cup-with-handle buy point. Shares initially broke out Nov. 17 and have floated higher above their 21-day line since then. This is a key sign of strength.
Goldman Sachs (GS) and Boeing (BA) lead the downside with losses of around 0.6% each. Boeing undercut its 21-day moving average and remain below the 50-day and 200-day lines.
Stocks Making Notable Moves
On Friday, Olaplex (OLPX), a top stock in the MarketSmith Growth 250 index and an IPO leader, scored a brief breakout. But the stock faded from the 30.23 entry in afternoon trading. Shares remain above a recent trend-line breakout, however, according to MarketSmith chart analysis.
Elsewhere, ArcBest (ARCB) was a top gainer among IBD Leaderboard stocks on Friday. Shares remain in buy range from a 116.89 buy point. The buy range tops out at 122.73.
Both OLPX and ARCB got some airplay in the final episode in 2021 of IBD Live.
Trucking stocks have been rallying since October amid supply chain bottlenecks. Due to a trucker shortage and rising gasoline prices, shippers are willing to pay higher rates to move their products. ArcBest, a recent IBD Stock Of The Day, is part of the trucking transportation industry group, which ranks No. 2 of the 197 groups IBD measures.
Follow Rachel Fox on Twitter at @IBD_RFox for more Dow Jones and stock market commentary.
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The post Dow Jones Pares Early Losses; S&P 500 On Track To Outperform With 2021 Gains appeared first on Investor’s Business Daily.
