The Nasdaq composite barely rose again and small caps led the stock market Thursday, even after sellers swarmed in the closing moments.
XThe Nasdaq climbed a fraction, good enough to extend its winning streak to eight sessions. The composite is drawing ever so close to a record high. A mix of internet, software and telecom stocks aided the composite's advance, despite weakness in semiconductors.
The S&P 500 eased 0.1% and the Dow Jones industrial average fell 0.3%. Selling in the final half hour cost the S&P 500 a gain for the day. But small caps acted better, with the Russell 2000 up 0.2% at the closing bell.
Volume fell from Wednesday's totals, according to preliminary data. Advancers and decliners were nearly even on the NYSE and Nasdaq.
The Nasdaq 100 ended a seven-day win streak. Invesco QQQ (QQQ) edged down less than 0.1%. Materials and consumer discretionary sector were two of the strongest Thursday. Energy was the weakest sector as crude oil prices remained near seven-week lows.
The indexes' mild moves masked bullish moves in a number of top-rated stocks.
Match Group (MTCH) cleared an irregular base, rising past the 48.75 buy point in heavy volume. The operator of dating apps followed through from a gap up Wednesday on the company's earnings, which ballooned 156% in the second quarter. BMO Capital. Wells Fargo and Barclays raised their price targets Thursday.
A couple of consumer stocks tried to break out but were indecisive.
Domino's Pizza (DPZ) tried to clear a flat base, but the stock stalled right as it reached the 293.91 buy point. A bigger problem was volume, which was about one-fourth less than normal. Tilly's (TLYS) topped the 16.20 buy point of a cup with handle, but it closed just below it and volume was mediocre. Both stocks' relative strength lines failed to make new highs, too.
IBD 50 component Nomad Foods (NOMD) closed just below its 19.91 buy point in a flat base. The parent of Birds Eye brand and other frozen food products beat profit expectations. Volume was about 70% above average.
MercadoLibre (MELI) punched through the 381.60 buy point of a cup with handle and closed above it. Volume was heavy as the Latin America online marketplace reported results late Wednesday. The company's loss of 25 cents a share was larger than expected, but a sales increase of 18% beat views.
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