Match Group, Epam Systems, Pfizer, Gen Digital, Zions Bancorp and Tesla were the top S&P 500 index gainers on the stock market today. Nike, Everest Re Group, Arch Capital Group, Kimberly-Clark, American Airlines and Micron Technology were the S&P 500's biggest losers on Monday.
The S&P 500 closed fractionally higher on Monday, just below 2023 highs. The Nasdaq composite climbed 0.5%, hitting a fresh nine-month best. The Dow Jones slid 0.4%, finding support at the 50-day line.
S&P 500 Winners
MTCH stock jumped 6.7% to 33.98. But the owner of Match.com, Tinder and other dating sites and apps is still below its long-sliding 50-day and 200-day lines. Match stock hit a record-low 30.73 earlier this month.
EPAM stock popped 6.5% to 263.67. The tech services firm, with a lot of operations in Eastern Europe, also is below its 50-day and 200-day lines. EPAM stock hit a 52-week low in early May.
PFE stock jumped 5.4% to 38.75. Like Match.com and Epam, Pfizer is still below its 50-day and 200-day lines. Shares hit a two-year low last week. On Monday, a report said Pfizer's experimental oral drug reduced patients' weight more than weekly injections of blockbuster Ozempic from Novo Nordisk.
GEN stock leapt 5.3% to 17.06, closing above its 50-day line for the first time since Feb. 2. But the security software and systems firm is well below its 200-day lines. Gen Digital stock hit its lowest level since the Covid crash last week.
ZIONS stock ran up 4.9% to 28.09 above its 50-day line as regional banks continue to recover. But it's a long way from its 2023 high of 55.20.
TSLA stock raced 4.85% higher to 188.87, after retaking its 50-day line on Friday. Tesla is working its way toward the 200-day moving average, which is slightly above the 200 level. TSLA stock has 207.89 buy point from what appears to be a double-bottom base.
On Monday, Tesla expanded Model 3 inventory discounts in the U.S. and some Model Y inventory cuts in Europe, but is avoiding new official price cuts for now.
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S&P 500 Losers
NKE stock sank 4% to 110.18, knifing below its 200-day moving average to a five-month low. Williams Trading said Nike's U.S. business will be under pressure through the first half of fiscal 2024, which starts in June. The Dow Jones athletic shoe and apparel giant slumped 4.5% last week following On Holding guidance that wasn't strong enough, as well as terrible results and outlook from Foot Locker.
RE stock retreated 4% to 361.49, tumbling below its 50-day moving average in heavy volume. Everest Re, a Bermuda-based reinsurer, has a 390.86 handle buy point from a 16%-deep consolidation.
ACGL stock fell 3.3% to 73.50, back into range of a 72.38 flat-base buy point. Arch Capital Group also is a Bermuda-based reinsurer.
KMB stock sank 3% to 140.69, just holding above a 140.51 buy point cleared on April 21, according to MarketWatch analysis. Many consumer and food products makers retreated Monday amid a shift out of defensive stocks.
AAL stock descended 3% to 14.38, but closed above its 200-day line. Last week American Air stock rebounded above its 50-day and 200-day lines amid strong gains among carriers and travel names. A federal judge ruled late Friday that American Airlines and JetBlue must dissolve their alliance covering Northeast flights.
MU stock sank 2.85% to 66.23 after China said Micron's products failed a cybersecurity review and bar key infrastructure operators from buying its memory chips. However, Micron stock rebounded from an intraday low of 64.76, just above a slew of resistance areas that offered a buying opportunity last week.
Please follow Ed Carson on Twitter at @IBD_ECarson for stock market updates and more.
