The Dow Jones industrial average rose, but the firm linked to Donald Trump Acquiring the digital world (DWAC) fell on Monday amid more legal troubles. apple (AAPL) and Tesla (TSLA) rallied. the alphabet (GOOGL) stock market rallied today. And celebrity investor Cathy Wood snapped up sinking stocks.
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Meanwhile, all three notable stocks are near buy points. the alphabet, Neurocrine Biosciences (NBIX) and Arista Networks (ANET) is monitoring all entries.
The Nasdaq Composite bounced back from last week’s losses as it added more than 1%. PDD Holdings (PDD) performed well here as it rallied over 4%.
The benchmark S&P 500 climbed nearly 1%. Match ( MTCH ) performed well here as it gained about 5%. But the stock remains below its major moving average, MarketSurge analysis shows.
All sectors of the S&P 500 were positive. Communication Services and Consumer Discretionary outperformed the stock market today. Real estate and health benefited the least.
But small caps lagged behind, with the Russell 2000 down 0.1 percent. Growth stocks advanced with the Innovator IBD 50 ETF ( FFTY ) up 0.2%.
Dow Jones Today: Disney Stock, Salesforce Shine
The Dow Jones industrial average lagged behind other major indexes but still managed to rise nearly 150 points. This equates to a 0.4% gain.
Walt Disney ( DIS ) was among the best performers as it gained about 2%. Sales force (CRM) and Caterpillar (CAT) also performed better with similar gains.
Boeing ( BA ) was the laggard on the Dow Jones today as it fell more than 1%. The loss comes amid ongoing concerns about construction standards at the aviation giant.
Donald Trump’s personality sinks amid bond news.
A special purpose acquisition company linked to Donald Trump Acquiring the digital world (DWAC) stirred after it was revealed that the former president was having trouble meeting bond requirements for his New York fraud case.
His lawyers said in a court filing that he cannot secure the required bond in full as he seeks to appeal a $454 million civil business fraud conviction.
“Imposing an impossible bond requirement as a condition of appeal would cause irreparable injury to the defendants,” his lawyers said in the filing.
Digital World, the billion-dollar company merged with Trump Media and Technology Group, fell about 8 percent. It has now fallen below the 50-day moving average, which is a sell signal.
Despite this decline, the digital world is firmly in the green so far this year. That’s up more than 108 percent so far this year, though down about 27 percent over the past four weeks
Stock market today: Kathy Wood buys on the dip.
Elsewhere, ARK Invest chief executive Kathy Wood revealed on Monday that she is an investor who is not afraid to buy on the dip, a risky strategy for many investors.
Her firm, where she also serves as chief investment officer, bought more than 17,000. Stop it Shares of (ROKU) on Friday for ARK Innovation (ARKK) Exchange Traded Fund.
Roku stock is currently stuck below its key 50-day and 200-day moving averages, MarketSurge analysis shows. Shares are now down more than 41% from their recent high of 108.84 reached on December 14.
The firm also bought about 34,000 shares. Moderna (MRNA) for its flagship fund. The stock has also slipped from highs but is up today. The fund also bought some. Pager duty (PD) and sold some. Twilio (TWLO).
It can be tempting to try to catch a falling knife, but often investors end up losing. IBD recommends buying stocks with strong earnings and price performance. Look for leaders in strong industries that are showing high revenue growth and sales.
Magnificent Seven: Nvidia AI Event; Apple analyst call
The so-called Magnificent Seven Group was making headway in the stock market today.
Nvidia stock ended gains but remained up about 1%. It got a boost after HSBC reiterated a buy rating on the stock and raised its price target to 1,050 from 880.
This comes as Nvidia’s four-day GTC conference begins. A new AI chip and other AI announcements are expected in the coming days.
Apple’s stock rose more than 1 percent, but recent declines mean it remains stuck below its major moving averages. This comes after KeyBanc reiterated its “sector weight” rating on the stock.
More importantly, AAPL shares were rising after Bloomberg reported that Apple was in talks with Google-parent Alphabet to license and build its Gemini AI engine into iPhones.
Stock market today: Tesla stock manages a gain
Despite Goldman Sachs reiterating its neutral rating and cutting its price target to 190 from 220 amid “market headwinds,” Tesla stock managed to edge higher in the stock market today. The company said it plans to raise the prices of its Model Y cars.
The stock jumped more than 6% but is firmly rooted below its 50-day and 200-day moving averages. Tesla is down about 30 percent so far this year.
Meta platforms ( META ) rose 2%. This comes as Mizuho reiterated its Buy rating on Metastock. The price target is 575. Analyst James Lee also named Meta one of the firm’s best picks.
Microsoft (MSFT) and the e-commerce giant Amazon.com ( AMZN ) both posted partial gains.
Outside the Dow Jones: 3 stocks near entries
One of the top seven best-performing names is among a group of stocks that are near buy points. Google-parent Alphabet was off the highs but remained up more than 4% as it nears a consolidation pattern entry at 153.78, according to MarketSurge analysis.
Overall performance is very strong at the search giant, with an IBD Composite Rating of a solid 94. Revenue is expected to grow by 20% this year and 15% in 2025. GOOGL was gaining even better than Apple amid the AI hookup buzz.
Meanwhile, Neurocrine Biosciences rose about 1% as it edged closer to a flat-base entry at 143.35. This is the basis for the second step, a bonus. This biotech stock has an excellent IBD Composite rating and is among the top 10% of stocks in terms of price performance over the past 12 months.
And Arista Networks was up nearly 4 percent in the stock market today as it reached a flat-base entry of 292.66 on the weekly chart. Big money has been buying Arista stock of late, with its accumulation/distribution rating coming in at B+.
Please follow Michael Larkin on X, formerly known as Twitter, at @IBD_MLarkin For further analysis of growth stocks.
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