The major stock market indexes are mixed, trading slightly lower than the highs of the morning, with all three major indexes up slightly over the last hour. The small caps are leading the day.
The Nasdaq composite is down 0.5% while the S&P 500 is off 0.1%. The Dow Jones Industrial Average is slightly higher, while the Russell 2000 is the leader, up 0.5% as it climbed above the 21-day exponential moving average.
All four indexes are holding above their 21-day exponential moving averages on the MarketSmith charts.
NYSE volume is down 8.7% and Nasdaq volume is down 0.1% compared with the same time on Friday.
Pharma Stocks Still Seeing Green
U.S. Stock Market Today Overview |
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|---|---|---|---|---|
| Index | Symbol | Price | Gain/Loss | % Change |
| Dow Jones | (0DJIA) | 31508.42 | +7.74 | +0.02 |
| S&P 500 | (0S&P5) | 3909.38 | -2.36 | -0.06 |
| Nasdaq | (0NDQC ) | 11562.57 | -45.05 | -0.39 |
| Russell 2000 | 176.29 | +1.20 | +0.69 | |
| IBD 50 | 27.77 | +0.67 | +2.47 | |
Last Update: 1:20 PM ET 6/27/2022 |
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Merck, the drug company specializing in diabetes, obesity, respiratory and cardiovascular conditions, is up 1.8% as big pharma companies continue to show strength. The ethical drugs industry is No. 29 out of 197 industries Investor's Business Daily tracks. Merck has a highest possible 99 Composite Rating as the stock makes a new high on the relative strength line. The Relative Strength Rating is a healthy 96.
Merck's stock is having another positive day, moving above the 95.02 buy point of a new base.
Celsius,, the fitness beverage company, has lost its gain from this morning, and is now down 0.3%. The stock is holding near the 200-day moving average it hit on Friday. Watch for resistance at that level.
Celsius has show positive earnings per share, with large growth on the last two quarters. Analysts expect EPS growth of 800% in 2022 and 120% for 2023. Sales growth has also been impressive, with the March quarter up 167% and December quarter up 192%.
Axsome Therapeutics, a maker of therapeutics for central nervous system disorders, is up 53.4% on news it has received proposed labeling from the U.S. Food and Drug Administration for its AXS-05 product candidate that's part of a new drug application for a depression treatment.
Photronics, a maker of photomasks used in the fabrication of semiconductors, is up 4.8% in heavy volume, holding above the 21-day exponential average. The stock is slightly above a cup-base buy point of 20.40 and in the 5% buy zone.
Photonics has a 99 Composite Rating and EPS Rating, and a 97 Relative Strength Rating.
Oil and Energy Bouncing Back
Crude oil futures are up 2.3%, to $110.12 per barrel, and reached the 50-day moving average on the chart.
Exxon Mobil is up 2.5% on higher oil prices. The oil and gas integrated industry has been a leader, and is No. 7 out of 197 IBD industries. The stock is trying to come back to the 21-day line.
Bitcoin is down 2.6% today to $20,695, and back in the $20,000 range it was trading in last week.
The Innovator IBD 50 ETF, a gauge of growth stocks, is up 2.3%, exceeding all the major indexes.
