The stock market held up pretty well in afternoon trading Tuesday despite a profit warning from Target before the open. The Dow Jones Industrial Average fell 0.8% intraday but climbed off lows along with the Nasdaq composite, which pared a 1.4% intraday drop to a modest gain.
Salesforce.com and Chevron were top gainers in the Dow Jones Industrial Average, while oil and gas stocks like APA, Exxon Mobil, Valero Energy and ConocoPhillips led the S&P 500. WTI crude oil futures were up 0.6% to $119.25 a barrel.
Retail stocks like Walmart, Home Depot and Walgreens Boots Alliance were among the worst performers in the Dow Jones today, weighed down by the Target news.
U.S. Stock Market Today Overview |
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|---|---|---|---|---|
| Index | Symbol | Price | Gain/Loss | % Change |
| Dow Jones | (0DJIA) | 32961.73 | +45.95 | +0.14 |
| S&P 500 | (0S&P5) | 4127.42 | +5.99 | +0.15 |
| Nasdaq | (0NDQC ) | 12080.66 | +19.29 | +0.16 |
| Russell 2000 | 189.17 | +1.30 | +0.69 | |
| IBD 50 | 33.81 | +0.68 | +2.05 | |
Last Update: 1:04 PM ET 6/7/2022 |
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Chevron also bucked the trend in the blue-chip index. A breakout from a flat base has been slow to take shape for CVX stock. It's still in the 5% buy zone from a 174.86 entry.
Pinduoduo, CrowdStrike and Atlassian outperformed in the Nasdaq 100.
Advancing stocks were about even with decliners on both exchanges.
Outside The Dow Jones
J.M. Smucker was a top gainer in the S&P 500, up 5% after reporting earnings. But after a sharp pullback, SJM stock is still more than 10% off its high and stuck below its 10-week and 40-week moving averages. That means it's not buyable, even with a dividend yield of 3.1%.
In the technology sector, Epam Systems also outperformed in the S&P 500, up 2.5%. After a sharp pullback that saw the stock fall more than 75% off its high, Epam has been in rally mode. It's a breakout candidate as it closes in on its recent high of 364.65.
Inside the MarketSmith Growth 250, Peabody Energy led a broad-based rally in coal stocks. BTU backed off highs after coming close to the 30 level, but shares still popped 9%.
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Group peer Arch Resources cleared a short consolidation, rising nearly 10% to a new high.
3 Breakouts To Watch
The MarketSmith Growth 250 yielded three breakouts from bases Tuesday.
Amphastar Pharmaceuticals broke out of a cup-with-handle base with a 40.08 buy point. Shares jumped 9% to 40.85. Amphastar, which specializes in injectable, inhalation, and intranasal products, has a presentation scheduled for 8 a.m. ET Wednesday at the Jefferies Health Care Conference.
Amphastar, unlike components in the Dow Jones industrials, is a small cap with a $2 billion market value.
TimkenSteel topped a 24.90 entry, rising 6% to 25.60. The stock's weekly chart shows a bullish support week at the bottom of the base. That's when buyers lifted TMST stock off lows, fueling a 9% weekly gain during the week ended May 13.
Canadian oil and gas producer Vermillion Energy cleared a 13-week consolidation, rising 5% to 24.65. Based on a 24.03 entry, the 5% buy zone goes up to 25.23.
