The Dow Jones Industrial Average battled back as Merck (MRK) and Apple (AAPL) were among its gainers. The latest bets of legendary Big Short investor Michael Burry have been revealed. Tesla (TSLA) was lower after yet more price cuts emerged.
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Meanwhile, a trio of stocks moved higher as they eye breakouts despite the current uptrend being under pressure. Box (BOX), Monster Beverage (MNST) and Option Care Health (OPCH) all moved toward entries.
Treasury yields moved higher. The 10-year yield rose two basis point to 4.19%, while the two-year yield popped seven basis points to 4.97%, making the yield curve more inverted.
Nasdaq Reverses Higher As Small Caps Slip
The tech-heavy Nasdaq fared best out of the major indexes as it reversed higher to gain a muscular 1.1%. Leaderboard stock Nvidia (NVDA) was the top performer here as it popped 7.1%.
The benchmark S&P 500 also managed to rally out of the red, closing up 0.6%. Micron Technology (MU) was among the top components here thanks to a lift of 6.1%.
The S&P 500 sectors ended the session mixed. Technology and communication services fared best in the stock market today. In contrast, real estate and utilities lagged the most.
The bears continued to nibble at small caps, with the Russell 2000 falling 0.3%. Growth stocks rallied well, with the Innovator IBD 50 ETF (FFTY) rising 0.2%.
Dow Jones Today: Intel, Apple Stock Gain
The Dow Jones managed to rally into the close, ending in positive territory. It gained 26 points, or 0.1%.
Apple stock was among the best gainers as it rallied 0.9%. Despite this it remains marooned below its 50-day moving average, according to MarketSmith analysis.
AAPL stock is now trying to reboot after declining in each of the previous two weeks.
Intel (INTC) fared best though with a 2.3% gain. It is now clear of its short-term and major moving averages.
Merck (MRK) and Visa (V) also performed well on the Dow Jones today with lifts of 1.4% and 1.2%, respectively.
3M (MMM) was the worst laggard as it fell 1.1%. Goldman Sachs (GS) and Walmart (WMT) were the next worst performers with dips…
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