The stock market saw a mixed day on Monday, with the Dow Jones Industrial Average closing lower as Tesla outperformed other stocks such as Apple and Nvidia. Investor Cathie Wood bought a falling stock, while Berkshire Hathaway fell after Warren Buffett highlighted challenges for the firm.
Several noteworthy stocks tested buy points, including Ollie’s Bargain Outlet and Dream Finders Homes, while Qualcomm moved towards a potential buy point.
Meanwhile, the Nasdaq composite and S&P 500 both ended the session lower, with notable performances from Palo Alto Networks and Domino’s Pizza, respectively. Small caps fared better, with the Russell 2000 rising 0.6%, while the Innovator IBD 50 ETF surged more than 2%.
Treasury yields moved higher, and the Dow Jones Industrial Average ended the day lower, with Walmart and Salesforce among the top performers. Berkshire Hathaway stock fell following Buffett’s comments on the challenges of finding good takeover candidates.
Cathie Wood purchased shares of Roku, while stocks like Tesla and Nvidia saw mixed results. Google-parent Alphabet struggled most among the Magnificent Seven stocks, ending lower in above-average volume.
Chinese EV stock Li Auto surged after strong earnings, while other EV stocks like Rivian Automotive and BYD saw gains. Ollie’s Bargain Outlet and Dream Finders Homes tested buy points, while Qualcomm eyed a potential buy point.
For more analysis on growth stocks and the stock market, follow Michael Larkin on X (formerly known as Twitter) at @IBD_MLarkin.
