The Dow Jones Industrial Average and other major indexes fell on Monday even as artificial intelligence players Super Microcomputer (SMCI) and Nvidia (NVDA) rallied. A Bill Ackman stock is close to a buy point while being linked to Donald Trump. Acquiring the digital world (DWAC) rose in the stock market today. Meanwhile, bitcoin and related stocks popped.
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Even as the market fell, three entries of promising stocks looked strong near the end: All State (All) Badger meter (BMI) and Ares Management (ARES).
The Stock Market Today: The Nasdaq Challenge
The short trading week got off to a negative start as indices paused amid some recent gains. Remember, the stock market is closed on the Friday before Easter Sunday.
The Nasdaq Composite briefly reversed and flirted with positive territory, but eventually closed down 0.3%. Leaderboard stock Dex work (DXCM) performed well as it gained 5.2%, hitting a 52-week high in the process.
The S&P 500 fell 0.3%. AI Play was the best-performing stock in the Super Micro benchmark index as it added 7.2%, though it ended at a higher level for the day. A market surge analysis shows that it has moved above its short-term moving average.
The majority of S&P 500 sectors ended the session lower. Energy and utilities, the latter a defensive sector, outperformed the stock market today. Technology and industrial sectors were the worst performing sectors.
Small caps ended in the green with the Russell 2000 up 0.2 percent. Growth stocks suffered, as the Innovator IBD 50 ( FFTY ) exchange-traded fund closed higher but still gained 0.5%.
Treasury yields held higher even after Federal Reserve Gov. Lisa Cook said the Fed’s dual mandate of low inflation and full employment was “moving toward a better balance.” The 10-year Treasury note rose 3 basis points to 4.25 percent, while the 30-year Treasury rose 3 basis points to 4.42 percent. The 5-year yield rose 4 basis points to 4.24 percent while the 2-year yield rose 3 basis points to 4.63 percent.
Dow Jones Today: Boeing Up, Disney Stock Shines
The Dow Jones Industrial Average ended the session down 162 points. This equates to a decrease of 0.4%.
Boeing ( BA ) saw some early gains fade, but shares still rose 1.4% on the session. Shareholders boosted the stock after Chief Executive Dave Calhoun announced plans to leave the company amid widespread uproar. He leaves at the end of the year.
The executive change comes amid the Boeing 737 Max safety crisis and other quality issues. Calhoun is following in the footsteps of his predecessor, Dennis Muilenburg, who left in 2019 after two 737 Max crashes.
But it was so Walt Disney ( DIS ) led the Dow Industrial Index today as it rose 3 percent. It benefited from Barclays upgrading the stock to overweight. The media giant is up 32% so far this year.
3M (MMM) And Intel (INTC) was one of the Dow Jones worst losers in the stock market today. 3M fell 1.8% amid China worries, while Intel fell 1.7%.
Bill Ackman AI Stock Eyes Entry
Famous billionaire investor Bill Ackman is one of the top hedge fund managers in the world. One of the stocks held by his Pershing Square investment firm, Google parent the alphabet (GOOGL), is currently hovering near a buy point after a strong run over the past 12 months.
Google stock is one for your watchlist as it sees an unspecified consolidation pattern with an entry at 153.78, MarketSurge analysis shows. The stock ended the day off a session low as it fell 0.5% on Monday.
Along with Ackman, Big Money certainly sees a lot of potential in Google stock, with its Accumulation/Distribution rating coming in at B-. In total, the funds hold 41% of the shares.
Google stock has been on a great run over the past 12 months. Friday’s close of 150.77 means it has risen 43 percent from its level a year ago.
Although it is known for its dominance of search, Alphabet is also an AI play. Google’s Gemini is seen as the main competitor to OpenAI’s ChatGPT.
Magnificent Seven: Nvidia Stock, Tesla Rally
Other so-called Magnificent Seven stocks had mixed fortunes in the stock market today.
Tesla ( TSLA ) reversed higher as it rose 1.1%. This was impressive as Mizuho Securities downgraded the stock to neutral from buy. It also cut its price target to 195 from 310.
Leaderboard stock Nvidia (NVDA) also shined, up 0.8%. The AI ​​play has extended from its recent buy point and is near all-time highs. Amazon.com ( AMZN ) also had a good inning as it gained 0.5%.
But Meta platforms (META) and Microsoft ( MSFT ) both fell more than 1%. And apple ( AAPL ) saw its rally attempt fizzle out as it lost 0.8%.
Donald Trump stock rises ahead of reversal
It’s been a wild few days for Donald Trump stock digital world acquisition.
A Trump-linked special-purpose acquisition firm fell short on Friday after shareholders voted to approve a long-anticipated merger with Trump Media & Technology Group.
However, the stock market was again in rally mode today. This comes amid news that the former president has reduced his bond for his New York fraud case. A judge reduced the bond from $454 million to $175 million as Trump tried to appeal the civil business fraud conviction.
The digital world came off its highs for the session as it skyrocketed 35.2%. It easily retook the 50-day moving average and is now clear of the 21-day and 10-day lines as well.
Stocks have made strong gains as Trump’s push to secure his party’s nomination for president has intensified. The stock is up 185% so far this year, and has a strong lift of 28% in the past four weeks alone.
Starting tomorrow, Digital World will begin trading under the ticker symbol DJT and moniker Trump Media & Technology Group.
Stock Market Today: Bitcoin Moves Above $70,000
Bitcoin was back in rally mode on Monday amid recent declines. It was trading near a 24-hour high after breaking above the $70,000-per-token level. It was trading for just under $71,000, according to CoinDesk.
The well-established Grayscale Bitcoin Trust ( GBTC ) rose 11.2%, while BlackRock’s spot bitcoin ETF, the iShares Bitcoin Trust ( IBIT ), gained 11.4%.
Other bitcoin stocks also rose. Coin base (COIN) rose 9.5% while Riot platforms (RIOT) popped 9.1%. IBD 50 Name Clean Spark (CLSK) fared even better as it gained 19.9%.
Outside the Dow: 3 stocks near buy points
A number of stocks worth watching in the stock market today are close to entry.
The insurance giant All State According to MarketSurge analysis, it is in a buy zone after clearing a flat base with an ideal entry point of 168.05. The pattern is a variant of the second step, a bonus.
The stock is in turnaround mode, with the firm returning to profitability in each of the past two quarters. Analysts see profits growing by around 1,200% in 2024 before slowing to a still-impressive growth rate of 30% in 2025.
The badger meter is in the handle base with a cup with an ideal entry of 164.81. This is a sample of the first step. While overall performance is strong, revenue performance is the standout. Revenues have grown an average of 39 percent over the past three quarters.
Stock is a member of the High Flying Industrial Machinery industry group. The company manufactures residential and commercial water meters.
Ares Management is another to watch as it forms a flat base with an ideal buy point of 139.40. The stock market closed almost flat today after finding support at its 21-day moving average.
Overall performance is very strong, with an IBD Composite Rating of 95. Earnings performance is also quite strong, with Ares stock having an EPS rating of 97.
Please follow Michael Larkin on X, formerly known as Twitter, at @IBD_MLarkin For further analysis of growth stocks.
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