Stock Market Today With IBD

Major indexes were a little “whippy” early in the session but managed to finish with solid gains. Though the uptrend is under pressure, there are sectors and stocks resisting that pressure. MercadoLibre and United Rentals followed up on early entries and a pullback in Airbnb has been orderly. Learn more about your ad choices. Visit megaphone.fm/adchoices

The major indexes tried to bounce Friday but reversed lower despite tumbling Treasury yields. That capped a tough week for the market rally, which is under pressure. That’s providing an opportunity for leading stocks to set up, including Broadcom, Delta Air Lines and Toll Brothers, investors should be cautious. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Nasdaq composite fell nearly 0.7% intraday but pared losses by the close ahead of Friday’s employment report. Investors sold bonds again, sending the 10-year Treasury yield sharply higher. Earnings reports from Apple and Amazon.com took center stage after the close. Stocks to watch include On Holding, Costco and Ameriprise Financial. Learn more about your ad choices. Visit megaphone.fm/adchoices

A wave of selling hit the stock market Wednesday after Fitch downgraded the U.S credit rating to AA+ from AAA. The 10-year Treasury yield hit its highest level since November and sellers swarmed around leading growth stocks. Vertex Pharmaceuticals had a positive response to earnings; Ollie’s Bargain Outlet is trading tightly near highs and insurer Arthur J. Gallagher is in a buy zone. Learn more about your ad choices. Visit megaphone.fm/adchoices

The major indexes were mixed Tuesday amid a flurry of earnings. Despite Treasury yields and the dollar running up again, the Nasdaq’s losses were modest. Arista Networks was a big earnings winner while EV-exposed chipmaker Allegro MicroSystems sold off. Oracle is trading tightly, near an early entry. Learn more about your ad choices. Visit megaphone.fm/adchoices

After a strong rebound on Friday, indexes took a breather with tight action on Monday. Enterprise software remains a leading group and UiPath broke a downtrend in a handle white over in the construction space United Rentals showed similar action. Meanwhile, Chinese names continue to power higher and Trip.com is benefitting from that thrust as well as the pent-up demand for travel. Learn more about your ad choices. Visit megaphone.fm/adchoices

Despite Thursday’s ugly downside reversal, the major indexes had solid-to-strong weekly gains. Marvell Technology and SLB are trading near possible entries. Tesla stock has forged a handle buy point, but could use a longer pause to recharge. Learn more about your ad choices. Visit megaphone.fm/adchoices

After rising 1.6% intraday, the Nasdaq composite reversed lower in higher volume, adding another distribution day to the count. Breadth was negative even when the Nasdaq was positive. Nextracker cleared a short consolidation on strong earnings; Trane is just below a handle entry and CAT is in a buy zone. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Federal Reserve, as expected, hiked the federal funds rate by another 25 basis points to a range of 5.25% to 5.50%. The Nasdaq held up well even as several chip stocks came under heavy selling pressure. Paylocity is trading tightly after a big move, while Boeing and Dynatrace are still in buy zones. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Dow extended its win streak to 12 sessions, the S&P 500 hit a fresh rally high while the Nasdaq led Tuesday’s gains. Earnings season is about to hit fever pitch, with the Fed expected to hike rates Wednesday. Miniso, Nucor and Synopsys are three stocks flashing buy signals. Learn more about your ad choices. Visit megaphone.fm/adchoices