Dow Jones Falls As Jobs Data Misses Estimates; Apple Stock Hits New High
The Dow Jones Industrial Average reversed lower Wednesday, as private payrolls data missed estimates. Apple stock jumped to new highs. And CrowdStrike earnings were better than expected.
X
Among the Dow Jones leaders, Apple (AAPL) rallied almost 2%, while Microsoft (MSFT) moved up 0.5% in today’s stock market. Home Depot (HD) remains below a new buy point after a recent breakout attempt.
Tesla (TSLA) looked to extend a win streak to four sessions, rising 0.2% Wednesday morning. The EV leader is now at the top of its buy range. PayPal (PYPL) rose 0.1% Wednesday following Monday’s bullish retake of its key 50-day moving average. A new buy point has emerged.
After the close Tuesday, CrowdStrike (CRWD) reported better-than-expected Q2 earnings results. CrowdStrike stock slid more than 2% in midday trade.
Among the top stocks to buy and watch, Academy Sports & Outdoors (ASO), Airbnb (ABNB), Mercado Libre (MELI) and Palantir Technologies (PLTR) are in or near new buy zones.
Airbnb, Microsoft and Tesla are IBD Leaderboard stocks. Academy Sports is an IBD IPO Leader. Palantir was featured in this week’s Stocks Near A Buy Zone column. Airbnb was Tuesday’s IBD Stock Of The Day.
Dow Jones Today: Jobs Data
The Dow Jones Industrial Average reversed from opening gains to fall 0.1% midday Wednesday. The S&P 500 moved up 0.2%. The tech-heavy Nasdaq climbed 0.7% in morning trade.
U.S. Stock Market Today Overview |
||||
|---|---|---|---|---|
| Index | Symbol | Price | Gain/Loss | % Change |
| Dow Jones | (0DJIA) | 35341.29 | -19.44 | -0.05 |
| S&P 500 | (0S&P5) | 4530.15 | +7.47 | +0.17 |
| Nasdaq | (0NDQC ) | 15350.26 | +91.03 | +0.60 |
| Russell 2000 | (IWM) | 226.41 | +0.49 | +0.22 |
| IBD 50 | (FFTY) | 49.21 | +0.33 | +0.68 |
Last Update: 10:34 AM ET 9/1/2021 |
||||
Ahead of the market open, ADP said private payrolls rose just 374,000 in August, well below the Econoday consensus estimate of 500,000. On Friday, the Labor Department will release its closely-watched nonfarm payrolls report.
Among exchange traded funds, the Innovator IBD 50 (FFTY) was up 0.7% Wednesday. Nasdaq 100 tracker Invesco QQQ Trust ETF (QQQ) moved up 0.6% Wednesday. Meanwhile, the SPDR S&P 500 ETF (SPY) rose 0.2%.
Stock Market Rally Continues
The Nasdaq hit more record highs Wednesday morning, while the S&P 500 and Dow Jones Industrial Average remain just off their own all-time highs.
Tuesday’s The Big Picture column commented, “The Nasdaq’s monthly gain soundly beat rises of 2.9% for the 500, 2.1% for the Russell 2000, and 1.2% for the Dow Jones Industrial Average. And perhaps if it weren’t for the solid gains by tech components within the 30-stock blue-chip index, the Dow likely would have rallied less than that.”
For more stock market commentary, check out IBD’s The Big Picture.
Stock Market ETF Strategy And How To Invest
Dow Jones Stocks To Buy And Watch: Home Depot
Dow Jones leader Home Depot is trying to break out past a cup-with-handle’s 333.55 entry, but currently sits just below the buy point, according to IBD MarketSmith chart analysis. The 5% buy area goes up to 350.23.
Shares were down 1.1% Wednesday.
CrowdStrike Earnings
After the close Tuesday, CrowdStrike reported second-quarter earnings and revenue that topped analyst…
Read More: Dow Jones Falls As Jobs Data Misses Estimates; Apple Stock Hits New High