Stocks trimmed losses in the final minutes of trading on Friday, but the clock ran out on the three major indexes and they ultimately finished lower on the stock market today.
The Dow ended the session down 0.1% while the S&P 500 lost 0.4%. The Nasdaq sank 0.7%. The small-cap Russell 2000 fared better than the major indexes but only managed a fractional gain.
The tech-heavy Nasdaq breached the psychological level of 18,000 before retreating back below it. The S&P 500 also hit a watermark, touching 5,500 before fading.
The Innovator IBD 50 exchange traded fund gave back earlier gains and fell 0.7%. It retreated back below its 21-day exponential moving average.
Volume was lower on the Nasdaq and higher on the New York Stock Exchange compared with the same time Thursday, in preliminary numbers. The 10-year Treasury yield added 11 basis points to 4.4%.
Updated 3:27 p.m. ET
Stock Market Today: Clean Energy Stocks Feel the Heat
Clean-energy stocks sold off in the wake of Thursday's presidential debate as investors likely feared a victory by former President Donald Trump could reverse climate funding under current President Joe Biden.
Renewable energy stock AES plunged around 8% in heavy volume. The stock fell further below its 50-day line and triggered a sell signal. Shares found support at their 200-day moving average.
NextEra Energy lost nearly 5% and sliced through its 50-day line. NextEra is the world's largest producer of wind and solar energy.
First Solar tumbled more than 9% in heavy volume and fell back below the 232 buy point of a long undefined base. The solar panel stock now is testing support at its 50-day line. First Solar erased a 32% gain from that buy point, flashing a round-trip sell signal.
Updated 2:03 p.m. ET
Synchrony Breaks Out
Synchrony Financial broke out of a flat base and hit the 46.72 buy point in heavy volume before retreating. An early entry could be seen at 45.72. The move came after Baird initiated coverage on the credit card and financing stock with a 56 price target and an outperform rating. The stock reached a 52-week high and was the biggest gainer in the S&P 500.
IBD 50 name ELF Beauty trimmed larger losses to around 3.4% and settled back into the 5% buy zone of a cup-with-handle base with a 202.58 buy point. Shares have traded around the buy zone since the cosmetics and skin care stock broke out on June 18.
PTC Therapeutics plummeted in heavy volume and undercut its 50-day line, triggering a sell signal. The move came following news European regulators rejected its muscular dystrophy drug, Translarna.
Chewy tumbled nearly 7% in heavy trading after Thursday's wild action. The volatile trading was triggered by a social media post on Thursday by influential trader Keith Gill, also known as Roaring Kitty on the X social media platform. The post contained an image of a dog causing traders to speculate it was a reference to Chewy, an online pet supplies retailer.
Updated 12:09 p.m. ET
Semiconductor Stocks Outperform
Several semiconductor stocks outperformed in the Nasdaq 100 on the stock market today, with names like Nvidia and Advanced Micro Devices up nearly 2%. Chip-equipment firms like Applied Materials and KLA performed even better with gains of nearly 3%.
The IBD 50 index of leading growth stocks delivered several outperformers, including Mirum Pharmaceuticals, which was up more than 2%. The biotech is near the top of a 28-week cup base.
RxSight was up more than 5%. It's trying to move above the 60 level in an eight-week-old consolidation and is rising above a trendline touching the highs in the base.
In the enterprise software group, Monday.com added more than 1%. Monday's relative strength line has started to bend higher as the stock approaches its May high of 249.
But several growth stocks came under selling pressure, continuing a recent trend. Embraer slumped 5%. The Brazilian aircraft maker is now below its 50-day moving average and at the lows of its current consolidation.
Updated 10:32 a.m. ET
Trump Stock Reverses Lower
Stocks were a familiar shade of green in the stock market today as Wall Street reacted to last night's presidential debate. Donald Trump stock Trump Media & Technology reversed lower after a strong start. Stocks also cheered more good news on the inflation front on the final trading day of the second quarter.
The VanEck Semiconductor ETF jumped nearly 3%, helped by solid starts for Taiwan Semiconductor and Nvidia. Nvidia and TSMC make up 33% of the fund, with Nvidia the highest-weighted holding at just over 20%.
The Dow Jones Industrial Average added 0.5%, or 198 points, after one of the Federal Reserve's favorite inflation gauges — the core Personal Consumption Expenditures index — increased 2.6% year over year, in line with expectations. The 10-year Treasury yield edged higher to around 4.3% ahead of the data. Around 10:15 a.m. ET, the yield was trading around 4.27%
Crude oil edged higher to around $82 a barrel. Weatherford Industries, an equipment provider to the oil and gas industry, added 0.2% as it forms the right side of a base. It's an industry group leader, helped by strong fundamentals and rising fund ownership.
Market Power Trend Remains Intact; Tesla, These 5 Stocks In Buy Zones
Stock Market Today
The Nasdaq composite continued its ascent toward the 18,000 level, rising 0.8%. The S&P 500 picked up 0.7% and the Russell 2000 small-cap index added 0.7% also.
Qualcomm was a top gainer in the Nasdaq 100, up around 4%. It's getting support at its 50-day moving average after its May 2 earnings breakout.
Early gainers in the Dow Jones today included Salesforce, but Nike plunged 19% after the company reported earnings, missed revenue expectations and warned of softness in China.
Salesforce added 1.5% in the stock market today, but the stock is running into some potential resistance levels near 257-261. Apple, which edged up 0.3%, launched its Vision Pro mixed-reality headset in China, Hong Kong, Japan and Singapore. Meanwhile, China iPhone shipments increased 40% in May, according to Bloomberg.
Advancers beat decliners by more than 2-to-1 on the NYSE. Breadth was also positive on the Nasdaq by less than 2-to-1.
Growth Stocks On The Move
Recent IPO Viking Holdings soared to an all-time high, rising nearly 3%. It's been a strong price performer since its May 1 debut at 24 a share.
Inside the MarketSurge Growth 250, Protagonist Therapeutics jumped 9% on news it's joining the S&P SmallCap 600 index. It'll replace Encore Wire effective Wednesday, July 3.
On the downside, Kura Sushi USA slumped more than 20% on the stock market today ahead of its July 9 earnings report. Late Thursday, the restaurant chain guided revenue for the May-ended quarter slightly below expectations. It now sees revenue of $63.1 million. Before the warning, the FactSet consensus was for revenue of $64.8 million, up 32% year over year.
Follow Ken Shreve on X @IBD_KShreve for more stock market analysis and insight.
