The major indexes are showing slight gains on the day with an hour left of trading. Mirati Therapeutics (MTRX) is up sharply today on early positive test news for its lung cancer treatment.
The Nasdaq composite, which started the day lower and climbed early in the session, was trending sideways the past few hours with a 0.7% gain. The S&P 500 is ticking up 0.6%, and the Dow Jones Industrial Average is up 0.5%. The Russell 2000 outperformed with a 1% gain.
Indexes are trading near session highs. NYSE volume is down 6% and Nasdaq volume is down 12% compared with the same time on Monday.
Darling Ingredients (DAR) is up over 3.5%% today, climbing above the 85.02 buy point of a cup with handle base.
Vermilion Energy, TimkenSteel Showing Strength
U.S. Stock Market Today Overview
|Last Update: 2:54 PM ET 6/7/2022|
Target (TGT) is clawing its way back after a steep drop to open the day. Target lowered operating margin guidance and cited unwanted inventories as catalysts for projecting lower profit. The stock saw a steep drop after its latest earnings call on May 18 and is now down 42.7% off its 52-week high.
Vermilion Energy (VET) is holding its morning gain, with the stock up over 6% on the day. VET has a best-possible Relative Strength Rating of 99.
TimkenSteel (TMST) is also showing strength, with the stock up over 6% today on 52% higher volume, topping a 24.90 cup-with-handle buy point. TMST is a leader in the Steel Specialty Alloys industry group, ranked No. 1 by RS Rating and No. 2 in Earnings Per Share Rating in the group, The industry is gaining strength among fund ownership, appearing in 330 mutual funds in March 2022, up from 311 in December 2021.
Haliburton (HAL) is up almost 3% today and showing a cup without handle formation. Shares are near the 42.70 buy point.
The Innovator IBD 50 ETF (FFTY) rose above the 50-day moving average for the first time since April 5, with leaders including Earthstone Energy (ESTE) and Matador Resouces (MTDR) aiding its climb. Matador Resources has been gaining strength above its 21-day exponential average.
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