The Dow Jones Industrial Average and other major indexes fell on Monday despite the artificial intelligence players. super microcomputer (SMCI) and Nvidia (NVDA) retaliated.Bill Ackman stock nears buy point due to Donald Trump connection Capturing the digital world (DWAC) skyrocketed on the stock market today. Meanwhile, Bitcoin and related stocks soared.
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Despite the market decline, three promising stocks looked solid near the entry. allstate (all), badger meter (BMI) and ares management (Ares).
Stock Market Today: Nasdaq Strikes Back
The index took a lull amid its recent rally, with the shortened trading week off to a negative start. Please note that the stock market will be closed on Friday ahead of Easter Sunday.
The Nasdaq Composite briefly reversed and hovered in positive territory, but ultimately closed 0.3% lower.leaderboard stock prices dexcom (DXCM) performed well, rising 5.2% and setting a new 52-week closing price.
The S&P 500 fell 0.3%. AI Play Super Micro rose 7.2%, making it the best-performing stock in the benchmark index, but finished solidly from the day's highs. According to MarketSurge analysis, the price is back above the short-term moving average.
Most sectors of the S&P 500 index closed lower. Energy and utilities are defensive sectors that outperformed the stock market today. Technology and industry were the worst performing sectors.
Small-cap stocks ended in the green, with the Russell 2000 up 0.2%. Innovator IBD50 (FFTY) exchange-traded fund closed higher, but still rose 0.5%, favoring growth stocks.
Treasury yields also ended higher after Federal Reserve President Lisa Cook said the Fed's twin mandates of low inflation and full employment are “moving toward a better balance.” . The 10-year bond rose 3 basis points to 4.25%, and the 30-year bond rose 3 basis points to 4.42%. The five-year bond yield rose four basis points to 4.24%, and the two-year bond yield rose three basis points to 4.63%.
Dow Jones Today: Boeing Rise, Disney Stock Shines
The Dow Jones Industrial Average closed down 162 points. This corresponds to a decline of 0.4% for him.
boeing (BA) saw some early gains fade, but the stock still closed up 1.4%. Shareholders boosted the stock after CEO Dave Calhoun announced plans to step down amid broader changes. He leaves at the end of the year.
The executive changes come amid the Boeing 737 Max safety crisis and other quality issues. Calhoun follows in the footsteps of his predecessor, Dennis Muilenburg, who stepped down in 2019 following two 737 Max crashes.
But it was Walt Disney (DIS) led the Dow Jones Industrial Average today with a 3% gain. 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 the biggest Dow Jones laggard on the stock market today. 3M fell 1.8% and Intel fell 1.7% on concerns about China.
Bill Ackman AI Stock Eyes Entry
Renowned billionaire investor Bill Ackman is one of the world's top hedge fund managers.One of the stocks held by his parent company, Pershing Square Investment Company alphabet (GOOGL) is currently hovering around a buy point after a strong rally over the past 12 months.
According to MarketSurge analysis, Google stock is on our watchlist as we note an undefined consolidation pattern with an entry at 153.78. The stock fell 0.5% on Monday, ending the day well below its trading low.
Along with Ackman, big money certainly seems to see a lot of potential in Google stock, giving it a B- cumulative/distribution rating. In total, the funds hold 41% of the shares.
Google stock has been on an incredible rise over the past 12 months. Friday's closing price of 150.77 represents a 43% rebound from the same period a year ago.
Alphabet is best known for its search dominance, but it's also a play on AI. Google's Gemini is considered the main rival to Open AI's ChatGPT.
The Magnificent Seven: Nvidia Stocks, Tesla Rally
Other so-called “Magnificent Seven” stocks had mixed fortunes on the stock market today.
tesla (TSLA) rose 1.1%, reversing its rise. This was impressive considering Mizuho Securities downgraded the stock from “buy” to “neutral.” The target price was also lowered from 310 to 195.
leaderboard stock prices Nvidia (NVDA) also shined, rising 0.8%. AI plays continue to grow from the most recent buy point and are near all-time highs. Amazon.com (AMZN) also had a decent innings with an increase of 0.5%.
but meta platform (meta) and microsoft (MSFT) both fell more than 1%.and apple (AAPL) fell 0.8%, weakening its attempts to move higher.
Donald Trump stock soars ahead of change
It's been an eventful few days for Donald Trump's stock acquisition of Digital World.
Trump-linked special acquisition companies fell on Friday after shareholders voted to approve a long-anticipated merger with Trump Media & Technology Group.
However, in today's stock market, stock prices are back in rising mode. It soared on news that the former president had his bail reduced in a fraud case in New York. A judge reduced President Trump's bail from $454 million to $175 million as he attempts to appeal his civil business fraud conviction.
Digital World soared 35.2% to close just below the session's high. It has easily regained its 50-day moving average and has also broken out of its 21-day and 10-day moving averages.
Stocks rose sharply as Mr. Trump's bid to win his party's presidential nomination gained momentum. The stock is up 185% so far this year, and a whopping 28% in the past four weeks alone.
Starting tomorrow, Digital World will begin trading under the ticker symbol DJT and the name Trump Media & Technology Group.
Stock market today: Bitcoin above $70,000
Bitcoin returned to upward mode on Monday amid its recent selloff. It was trading near its 24-hour high after rallying above the $70,000 per token level. According to CoinDesk, it was trading for just under $71,000.
The well-established Grayscale Bitcoin Trust (GBTC) soared 11.2%, while BlackRock's spot Bitcoin ETF iShares Bitcoin Trust (IBIT) rose 11.4%.
Other Bitcoin stocks also rose. coinbase (COIN) rose 9.5%. riot platform (RIOT) recorded 9.1%. IBD50 name clean spark (CLSK) fared even better, jumping 19.9%.
Beyond the Dow Jones: 3 stocks near buy points
Many notable stocks in today's stock market are nearing entry.
major insurance company allstate According to MarketSurge analysis, the stock is in the buy zone after clearing the flat base at 168.05, which is the ideal entry point. The picture is a bonus second tier variety.
The company has returned to profitability in each of the past two quarters, and the stock is in recovery mode. Analysts expect profits to jump about 1,200% in 2024, but slow to a still impressive 30% growth in 2025.
The Badger Meter is located on a cup base with a handle and the ideal entry is 164.81. This is the first stage pattern. While the overall business performance is strong, the revenue performance stands out. Revenues have increased an average of 39% over the past three quarters.
The company is part of the Industrial Machinery industry group. The company manufactures residential and commercial water meters.
Ares Management is another stock to watch, forming a flat base with an ideal buy point at 139.40. The stock market closed almost flat today, supported by the 21-day exponential moving average.
Overall performance is very strong, with an IBD overall rating of 95. Earnings performance has also been particularly strong, with his EPS rating for Ares stock at 97.
Follow Michael Larkin on X, formerly known as Twitter. @IBD_MLarkin For a detailed analysis of growth stocks.
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