The Dow Jones Industrial Average traded higher in today’s stock market, while the major indexes had a late-afternoon surge into the close. The Nasdaq composite pared earlier losses and traded higher while the S&P 500 held a gain as well.
At the market close, the small-cap Russell 2000 was up 1.3%. The Nasdaq composite gained 1.2% after trading in the negative. The S&P 500 gained 1.7%, while the Dow Jones industrials traded 1.4% higher. Volume was trading lower on the Nasdaq and higher on the NYSE compared with the close on Thursday, according to early data.
On Friday, the Dow initially rallied more than 200 points. But stocks slowly tapered gains, with the 10-year Treasury yield up 3 basis points to 1.66%.
U.S. Stock Market Today Overview
Last Update: 3:06 PM ET 3/26/2021
Meanwhile, the tech-heavy Nasdaq led on the downside. The major index was finding resistance around its 50-day moving average and will need to rise above this area in order to regain an upward trajectory.
In late afternoon trading, the major indexes surged higher after a new print on core inflation in the U.S. came in milder than expected.
As for growth stocks, the Innovator IBD 50 ETF (FFTY) rose 1%. The ETF fell roughly 7% for the week and is trading near the 200-day line.
The growth-focused index traded below the 50-day line after reclaiming this key area last week. Stocks leading the downside on Friday were China-based firms Vipshop Holdings (VIPS) and 360 DigiTech (QFIN).
Chip Stocks Lead
Several semiconductor stocks outperformed in the Nasdaq 100. Top performers included chip-equipment firms like ASML (ASML) and Applied Materials (AMAT).
Shares of ASML crossed the 600 level and hit an all-time high of 619.94. ASML stock is up 13% so far this week.
Elsewhere, Applied Materials gained more than 6% in afternoon trading. It has been trading strongly above the 50-day line since last November and maintains an 88 RS Rating. The chip leader is an IBD SwingTrader stock.
Shares of IBD 50 stock Entegris (ENTG) also outperformed with a gain of more than 4%. Entegris is currently forming a new consolidation with 114.10 buy point. The stock gained solid support at its 50-day line and shares remain 5% away from the proper entry.
Dow Jones Today
As for the Dow Jones, Cisco (CSCO), Intel (INTC) and Nike (NKE) led with gains of more than 2.9% each. On the downside, shares of Boeing (BA) and Disney (DIS) were down 0.9% or more. Goldman Sachs (GS) also led on the downside with a loss of 1.4%.
Intel stock gained more than 3% on Friday as shares bucked declines from earlier this week. The chip stock traded back below the 5% buy zone of a double-bottom base with a 65.21 buy point on Wednesday. Shares also briefly traded in the 7%-8% sell zone on Thursday but reversed higher Friday.
Intel’s relative strength line, which has been climbing in recent months, still remains off its highs. Additionally, the RS Rating of 47 remains well below the minimum 80 we like to see for growth stocks breaking out.
Elsewhere, Leaderboard stock Microsoft (MSFT) held a gain of 1% as it traded slightly below the 50-day line. Microsoft is a IBD Long-Term Leader.
The stock is also near a 246.23 buy point of a new flat base, according to MarketSmith chart analysis. Microsoft stock is about 5% away from the entry.
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