The Dow Jones Industrial Average even fell as a component Apple (AAPL) presented products including a VR headset and its new iOS 17 operating system for iPhones. Cathie Wood stock Schrodinger (SDGR) rose by one session after selling shares. Leaderboard stock Palo Alto Networks was a top performer.
While there were no breakouts, there was some upside. Dexcom (DXCM) and Kinsale Capital (KNSL) are about to be entered Fortinet (FTNT) has recaptured a buy point.
Nasdaq gains as small caps lag behind
The Nasdaq outperformed the other major indices but fell 0.2% after shedding gains. Zscaler (ZS) impressed with a plus of almost 4%.
The benchmark S&P 500 lost 0.3%. Epam systems (EPAM) lagged down more than 20% after lowering its earnings and revenue outlook.
The S&P 500 sectors were mixed. The best performing areas were materials and communication services. Financials and industrials were the biggest laggards.
Small cap lagged strongly, the Russell 2000 falling more than 1%. Growth stocks held, with the innovator IBD 50 ETF (FFTY) up 0.3%.
Dow Jones Today: Apple stocks up as part of Vision Pro reveal
The Dow Jones Industrial Average slipped towards the close. It fell more than 100 points, or 0.4%.
Apple soared after the company unveiled a slew of new products at the Worldwide Developers Conference in a keynote presentation led by CEO Tim Cook.
The revelations included the new iOS 17 for the iPhone and new Mac computers, including a 15-inch MacBook Air notebook.
The company also presented its long-awaited mixed reality headset at the conference. The Vision Pro does many of the same things as an iPhone, e.g. B. Surf the Internet and offer FaceTime. It also has a feature that allows turning it into a Mac monitor.
Apple shares hit a record high early in the session but are down 0.9%.
amgen (AMGN) was the top stock on the Dow Jones today, up nearly 2%. chip giant intel (INTC) lagged again, falling more than 4%.
SDGR stock surges after sale of Cathie Wood
Timing can be everything in the stock market. And that was the case for Ark Invest CEO Cathie Wood after her company sold a stock that soared on Monday.
Their ARK Genomic Revolution ETF (ARKG) sold nearly 15,000 Schrödinger shares on Friday. In all, she sold just over 112,000 shares last week.
While this may have been prudent portfolio management, it also meant ARKG missed Monday's nearly 8% gain.
Despite recent selling, SDGR remains an important part of the ARK Genomic Revolution ETF portfolio, accounting for 6.2% of the portfolio.
Schrodinger has a middling IBD Composite Rating of 67, but is well above its key moving averages. So far in 2023, it's up 110%.
Leaderboard stock PANW jumps to S&P 500 spot
Palo Alto Networks had a solid session. It rose about 5% when news broke that it would be included in the S&P 500.
PANW stock is now extended past a buy point of 203.44. The relative strength line is reaching new heights, which is encouraging. The stock soared last month after providing a strong earnings report. One bright spot was the large growth in customers for cloud-based services
Palo Alto Networks takes the place of dish network (COURT). Dish fell nearly 3% on above-average volume. PANW stock is currently a member of the prestigious IBD Leaderboard of Top Stocks.
Outside the Dow Jones: These stocks are looking bullish
Dexcom is approaching a flat base buy point of 126.44, according to MarketSmith analysis. The shares made an early entry late last week.
DXCM is in the top 5% of stocks in terms of price performance over the last 12 months. The stock is up nearly 7% so far in 2023.
Dexcom manufactures continuous glucose monitoring systems for patients with diabetes.
Kinsale Capital is also close to a flat-based entry, this time at 345.75. The relative strength line bends upwards.
Based on the price development of the last 12 months, the insurance share is one of the top 9% of shares. It also has a perfect EPS rating of 99.
Fortinet is back in a buy zone after retaking a shallow base entry from 69.07. It is punishable up to a value of 72.52.
The cybersecurity stock has a perfect IBD Composite Rating of 99. Its bullish performance earned it the honor of being named IBD Stock of the Day on Monday.
Please follow Michael Larkin on Twitter at @IBD_MLarkin for more analysis of growth stocks.
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