The Dow Jones Industrial Average retreated Monday, even as the Nasdaq gained. Tech stocks outperformed, with Apple (AAPL) and Microsoft (MSFT) among the top blue chips. AMC Entertainment (AMC) was also rallying once again.
Nasdaq Gains As Tech Stocks Bounce
The tech-heavy Nasdaq was the top major index of the day, closing 0.7% higher. Marvell Technology (MRVL) and Leaderboard name Adobe (ADBE) were the standout stocks. Marvell rose 3.3%, while Adobe gained 2.9%
The broader S&P 500 managed to rally out of the red, posting a gain of 0.2%. Medical equipment company ResMed (RMD) fared best, rising 6%. Oil stock Baker Hughes (BKR) was the worst laggard, slipping 4.5%.
U.S. Stock Market Today Overview
Last Update: 4:08 PM ET 6/14/2021
The S&P sectors closed mixed, with technology and communication services the only areas in the green. Materials and financials were the biggest laggards.
Small caps were forced lower by the bears, with the Russell 2000 slipping 0.3%. But growth stocks fared worst of all, with the Innovator IBD 50 ETF (FFTY) falling 1%.
Apple Stock Not Enough For Dow Jones
The Dow Jones Industrial Average was faring the worst out of the major indexes. However it pared some losses, closing down 0.3%.
Apple stock was among the top components, turning in a gain of 2.5%. Apple is trying to form a new flat base with a 137.17 buy point. It previously triggered the 7%-8% sell rule from a 135.63 buy point in early May.
Microsoft was among the other Dow Jones stocks in the green. The software giant finished up 0.8%. The Leaderboard name is trying to reach a new flat base’s buy point of 263.29, according to MarketSmith analysis.
AMC Stock Rallies Again
AMC stock was rallying again Monday, posting a gain of just over 15%. The stock is up more than 2,600% since the start of 2021.
The firm is taking advantage of the spike in interest and announced on June 3 it plans to sell up to 11.55 million shares.
World Wrestling Entertainment (WWE), a new addition to the meme stock roster, was rebounding off the ropes, gaining 1.4%. The stock is looking to drive higher again after posting a gain of 10% last week.
WWE stock is at the top of a buy zone above a 61.42 entry. Unlike many meme stocks, WWE has solid earnings, with its EPS Rating coming in at 77.
There was less luck for GameStop (GME), which gave up 1.7%. GME…
Go to the news source: Dow Jones Slips As Tech Stocks Surge; Apple Stock, Microsoft Gain; AMC Stock Exp…