The Dow Jones industrial average fell on Tuesday as well apple (AAPL) unveiled its new iPhone. However, growth stocks outperformed Microsoft (MSFT) was the first blue chip. General Electric (GE) went deep when stocks tied to economic reopening broke down.
X
It was hard to get to the escapes amid the challenging action, though Outdoor decks (DECK) joined the scoreboard after making a bullish move. ZoomInfo Technologies (ZI) i Regional management (RM) also stood above the points of purchase.
The stock market had given an early boost after the Labor Department reported a 0.3% rise in the August consumer price index. This was lower than the 0.5% increase in July and the economists’ forecast of a 0.4% advance. The softer-than-expected rise in prices suggested that inflation increases remained within expectations. However, the market was unable to maintain its profits.
The Nasdaq stays as Excel growth stocks
The Nasdaq has achieved the best results in the major indices, but has still yielded around 0.5%. Software exchange Atlassian (TEAM) has had a better performance with a gain of more than 3% while Comcast (CMCSA) lagged further after falling more than 7%.
The S&P 500 fell 0.6% and closed near session lows. Stocks of medical devices Zimmer Biomet (ZBH) was the star of the day, gaining almost 5%. But that was offset by a lot of big losers, among them Dish network (DISH), which fell by about 5%.
General information on the US stock market |
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|---|---|---|---|---|
| index | Symbol | Price | Gain / Loss | % Change |
| Dow Jones | (0DJIA) | 34578,56 | -291.07 | -0.83 |
| S&P 500 | (0S and P5) | 4443.23 | -25.50 | -0.57 |
| Nasdaq | (0NDQC) | 15037,76 | -67.82 | -0.45 |
| Russell 2000 | (IWM) | 220.06 | -2.82 | -1.27 |
| MII 50 | (FFTY) | 48.97 | +0.61 | +1.26 |
Last update: 16:04 ET ET on 14/09/2021 |
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All S&P sectors closed negatively, with better health and technology. Energy and financing were the worst retardants.
Bears swept away with capital letters and Russell 2000 closed 1.3% amid selling pressure.
However, growth stocks were a bright spot as they managed to make a decent profit. The ETF Innovator IBD 50 (FFTY) closed 1.3%.
Dow Jones Today: The index falls when Apple introduces the iPhone
The Dow Jones Industrial Average came out worse than the major indices, closing 0.8%.
It fell even though Apple unveiled its new iPhone 13 series. The company unveiled four new models, which are incremental upgrades from last year’s iPhone 12 series.
The new phones are the iPhone 13, along with the Mini, Pro and Pro Max versions. The iPhone 13 is Apple’s second-generation 5G wireless mobile.
Features include brighter screens, faster processors, and improved cameras. The new iPhone costs $ 799, with the Mini version costing $ 100 more.
New versions of the Apple Watch and iPad were also shown. Apple also previewed some of Apple’s upcoming TV + shows.
Shares of Apple closed at about 1.5% and the rating cut its exposure to shares.
Still, Apple’s shares haven’t been the worst that have had results in the Dow Jones so far. Industrial game Caterpillar (CAT) was worse, down around 2%.
Microsoft was the main stock Dow Jones and was one of the few to make a profit. The shares of the rating increased by around 1% and remain above 263.29 buy points.
GE shares are shrinking as the reopening is more false
Caterpillar was not the only one to suffer the economic reopening. GE shares closed nearly 4% and are now seeking support on their 200-day moving average.
The conglomerate operates in areas such as aviation, energy and additive manufacturing. Aerospace giant Boeing (BA) fell by about 1.4%.
Casino stocks also declined, in part because China is following tougher regulations in Macau.
Las Vegas Sands (LVS) i Wynn Resorts (WYNN) were two of the biggest losers of the day, falling 9.7% and 10.9%, respectively. MGM Resorts (MGM) was also punished, falling by about 4%.
The actions of the airlines were also affected, with Delta Air Lines (DAL) fell by 2%, American Airlines (AAL) slipping 0.5%, Southwest Airlines (LUV) fell 1.4% i United Airlines (UAL) discount of 2.2%.
The bear market trend continues; 5 technicians near points of purchase
These 3 shares pass purchase points
Deckers shares offer an aggressive entry after crossing a mini-trend line near 433.
Shares are also closing at an ideal flat-based buy point of 444.58. The line of relative strength is beginning to move forward, which is encouraging.
Its bullish move caused Deckers shares to be added to the prestigious IBB Leaderboard list of major growing stocks.
He increased in sympathy after the teammates’ shoe game Crocs (CROX) shot up 8% on Tuesday, amid bullish comments made during its investor day and the presentation of a share buyback.
According to MarketSmith analysis, ZoomInfo shares also managed to rise above a flat base buy point of 67.73. However, it was closed below this entry.
However, the RS line of stocks is rising, which bodes well. It also moved upward with a high volume. At the moment, profit performance is not ideal.
ZoomInfo, based in Vancouver, Washington, offers online services that provide contact and account information for sales and marketing teams, recruiters and more.
The shares of the regional management had a better performance, surpassing a flat base buy point of 60.55. The RS line has reached a new high, which is a bullish indicator.
Shares, which show high-quality profits and a stock market return, increased with a high volume. This is also a basis for the first stage, which is another positive thing.
Follow Michael Larkin on Twitter at @IBD_MLarkin for more information on growth analysis and stocks.
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