Stocks closed mixed Tuesday in a seesaw session that saw only the Nasdaq composite make any headway thanks to gains in Alphabet (GOOGL) and other major components.
XThe Nasdaq composite climbed nearly 0.2% and was the best index all day, even while the market ebbed. Some major components such as Amazon.com (AMZN) rose. Alphabet, the parent of Google, rose on the same day its CEO testified in Congress over privacy and other concerns.
The Dow Jones industrial average fell 0.2%. Verizon Communications (VZ) is in a follow-on buy area after finding support at the 50-day moving average. Verizon is on IBD Leaderboard, where its position was raised Tuesday.
The S&P 500 fell a fraction. Small caps performed in line with the main indexes, as the Russell 2000 eased around 0.2%. The small-cap index remains deep in a correction.
The Nasdaq's modest added to a new rebound in the indexes ignited with Monday's positive price reversal. Those bullish moves came as the S&P 500 found support at 2600 and the Nasdaq around 7000.
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The market opened sharply higher on news China plans to cut tariffs on imports of U.S.-made vehicles.
But the gains eroded and hit session lows after President Trump and Democratic leaders clashed over a possible government shutdown and funding for a border wall.
Leading stocks outperformed the main indexes as the Innovator IBD 50 ETF (FFTY) added 0.4%
Autohome (ATHM) led the IBD 50, up more than 5%, as the Chinese auto marketing website operator climbed back above the 200-day moving average. Autohome, though, has a long ways to go to reach a new high as it recovers from a deep decline.
Kirkland Lake Gold (KL) added to Monday's breakout past a 23.96 buy point. Kirkland is a standout in the IBD 50, extending a winning streak with five straight days of above-average volume.
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