The Dow Jones Industrial Average showed little movement, with Boeing facing job cuts while other major indexes experienced gains. Flutter was working to recover from a significant decline following an upgrade, and notable investor Cathie Wood sold off a stock that had been performing well so far this year.
Stocks got off to a mostly positive start in early trading. The Nasdaq composite surged 1% and remained more than 5% above its 50-day moving average, with companies like Arm, Applied Materials, and Lam Research performing strongly. However, China e-commerce company PDD saw a decline despite stimulus measures announced by China’s finance minister.
The S&P 500 hit record highs, with sectors like technology and communication services leading the gains, while materials and energy lagged. Small caps were showing slight positivity, and the Innovator IBD 50 exchange-traded fund saw a notable increase.
Boeing stock faced challenges due to job cuts and profit warnings, while Flutter stock rebounded following an upgrade and supportive analyst comments. Additionally, Cathie Wood sold off shares of a stock that had seen significant gains in 2024.
Amidst high market valuations, keeping an eye on stocks approaching potential entry points can be beneficial. Stocks like Radware, Celestica, and Amalgamated Bank are showing potential for gains based on their performance metrics and market positions.
