WAll Street – Indices – Most Active – Cryptos – (July 18 2023)

  • Nasdaq Gains As Small Caps, IBD 50 Jump – Dow Jones Up, Tesla Pops As Elon Musk Gets Targeted –  The benchmark S&P 500 also rallied

The Dow Jones Industrial Average moved higher, while Ford (F) tumbled after it slashed the price of a key product. In contrast, Tesla (TSLA) popped after its Cybertruck reveal and despite CEO Elon Musk coming under fire. Three Warren Buffett stocks are near entries.

Meanwhile, a trio of noteworthy names cleared buy points amid the encouraging action. Old Dominion Freight Line (ODFL), AAON (AAON) and First Citizens BancShares (FCNCA) all moved above entries.

In economic news, the Empire State Manufacturing Survey’s general business index slipped 5.5 points in July to 1.1 from June’s reading of 6.6. That was better than expectations for -3, according to Econoday. The regional Fed said “manufacturing activity was little changed in New York State.”

Treasury yields slipped. The 10-year yield fell 2 basis point to 3.81% while the two-year yield slipped 1 basis point to 4.75%, making the yield curve more inverted.

Nasdaq Gains As Small Caps, IBD 50 Jump

The Nasdaq ended the day near session highs, rising 0.9%. Solar stock Enphase Energy (ENPH) was a top performer here, jumping 6.6%.

The S&P 500 sectors were mixed. Financials and technology were the top performers. Real estate and utilities lagged the most in the stock market today.

Small caps were having a good session, with the Russell 2000 rising 1.1%. Growth stocks were faring best of all, though, with the Innovator IBD 50 ETF (FFTY) surging 2.9%.

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Dow Jones Today: Intel, Apple Stock Shine

The Dow Jones Industrial Average lagged the other major indexes, but still rose 76 points, or 0.2%. It closed at its highest level so far in 2023.

Intel (INTC) performed best on the index, rising 3.7%. It moved back above an old flat-base entry of 33.84, MarketSmith analysis shows.

Apple (AAPL) was another strong performer on the Dow Jones today, rising 1.7%.

But Verizon (VZ) had a torrid session, diving 7.5%. It was down after the Wall Street Journal reported telecom companies installed potentially dangerous lead-covered cables overhead on poles, in soil and underwater. Walt Disney (DIS) also struggled, falling 3.5%.

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