The Dow Jones Industrial Average rose slightly in today's stock market amid strong earnings from Disney (DIS) which were reported late Thursday. The Nasdaq and S&P 500 both traded close to break-even.
XDow Jones In The Stock Market Today
The Nasdaq was mostly flat, while the S&P 500 climbed 0.1%. Both indexes traded higher Friday morning but have since pared some of those gains. The Dow Jones industrials held a gain of 0.1%. The Russell 2000 index led on the downside with a 0.5% decline. Volume was higher on the Nasdaq and lower on the NYSE vs. the same time on Thursday.
Earlier in the day, the Dow Jones and the S&P 500 hit new highs. Thursday's Big Picture commented, "The market's distribution-day count is starting to improve. On Tuesday and again Thursday, a distribution day on the S&P 500 dropped off the count due to time, while the Nasdaq lost a stalling session on Wednesday due to time. This indicates that some institutional selling is starting to age out, offering investors another reason to be more confident."
U.S. Stock Market Today Overview |
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|---|---|---|---|---|
| Index | Symbol | Price | Gain/Loss | % Change |
| Dow Jones | (0DJIA) | 35540.99 | +41.14 | +0.12 |
| S&P 500 | (0S&P5) | 4466.17 | +5.34 | +0.12 |
| Nasdaq | (0NDQC ) | 14816.73 | +0.47 | +0.00 |
| Russell 2000 | (IWM) | 221.89 | -1.27 | -0.57 |
| IBD 50 | (FFTY) | 45.85 | -0.31 | -0.67 |
Last Update: 1:52 PM ET 8/13/2021 |
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Stocks outperforming in the Dow Jones on Friday included media giant Disney, which gained as much as 4% following the company's strong Q3 results late Thursday. Disney earned 80 cents per share, beating FactSet estimates of 55 cents. Revenue rose 45% to $17.02 billion, beating views of $16.76 billion. Disney+ subscriptions of 116 million beat FactSet views for 115.2 million.
Disney stock is building the right side of a new base and is nearing the 203.12 buy point. An early entry at 186.39 is also in play. Shares pared earlier gains to a rise of 1.8% in afternoon trading.
Salesforce.com (CRM) also rose in Friday's market. Shares were up 1.4% in afternoon trading. Salesforce held support at the 50-day line on Thursday as shares remain 7% away from a 271.02 buy point. The stock is set to report earnings Aug. 25, after the market closes.
Elsewhere, Home Depot (HD) traded down 0.7% and is now back below the recent 333.55 buy point of a cup with handle. The home improvement retail giant broke out last week but has since faded its gains. Home Depot maintains an 85 Composite Rating and a 93 EPS Rating. However, take note of the 61 Relative Strength Rating, which is a sign of price performance weakness.
Growth Stocks In The News
As for growth stocks, the Innovator IBD 50 ETF (FFTY) fell 0.7%, beating the major indexes on the downside. The ETF continues to hold above its 50-day line. Stocks leading the downside in the index included Sprout Social (SPT) and The Trade Desk (TTD) with losses of roughly 5% each.
Sprout Social is currently trading inside the 20% profit zone after a recent breakout. Shares had been trading sideways inside the buy zone since early June. Finally, the stock rallied into the profit area after Sprout Social reported strong earnings on Aug. 3.
A few growth stocks scored intraday breakouts early Friday, including Ingersoll-Rand (IR) and Apria (APR).
Ingersoll-Rand briefly broke out past a 52.22 flat base buy point and remains inside the buy zone, which tops out at 54.83. The vacuum and industrial compressor manufacturer reported better-than-expected earnings and sales late last month. Both earnings and sales showed double-digit year-over-year growth, a bullish sign.
Elsewhere, shares of Apria broke out from a cup base with an 54.60 buy point. The stock remains near the upper edge of the buy area after rising over 5%. The home health care equipment services firm reported strong earnings on Aug. 5, which boosted shares into the buy zone.
Follow Rachel Fox on Twitter at @foxonstocks for more Dow Jones and market commentary.
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Dow Jones Rises As Disney Earnings Beats Expectations; These Growth Stocks Score Breakouts - Investor's Business Daily
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