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Solid Gains In Stock Market Today As These 2 Stocks Boost Dow Jones

The major market indexes delivered solid gains in the stock market today, even though they closed well off session highs.

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The Nasdaq and S&P 500 each rose 0.7%, while the Dow Jones Industrial Average advanced 0.6%. The small-cap Russell 2000 index outperformed with a 0.8% gain. Preliminary data showed lighter volume on the NYSE and Nasdaq vs. Monday's totals.

The Nasdaq had risen as much as 1.3% earlier in the session, and the Dow and S&P 500 climbed 1.1% at their highs.

Walt Disney (DIS) and 3M (MMM), up about 2% each, were the biggest winners on the Dow Jones. Disney's move, which occurred in volume 51% higher than normal, snapped a six-session losing streak.

That was in contrast to Apple (AAPL), which reversed to a 1% loss in turnover 67% higher than usual. Shares are back below the 200-day moving average, where resistance is appearing. Apple's Monday media event, during which the iPhone maker introduced its video-on-demand and other new offerings, didn't impress Wall Street.

Analysts say Apple's subscription video service faces major hurdles in trying to challenge Netflix (NFLX), due to limited content and a limited television reach. Disney's upcoming service, however, could provide stiff competition. Netflix shares fell 2% in light trade.

Oil Stocks Rally In Stock Market Today

Energy, automakers and networking stocks led the upside among industry groups. Managed care firms, hospitals and other medical groups lagged. Molina Healthcare (MOH) slumped 10% to breach its 50-day line in heavy volume. WellCare Health Plans (WCG), Centene (CNC) and Anthem (ANTM) gave up more than 3% apiece.

The stocks got hurt amid worries about ObamaCare. The Justice Department in a Monday filing said it supports a federal judge's ruling that called ObamaCare unconstitutional.

Oil stocks and ETFs rallied amid a 2% rise in West Texas Intermediate crude prices to $60.01 a barrel. SPDR S&P Oil & Gas Exploration & Production (XOP) rose 2%; Energy Select Sector SPDR (XLE), iShares U.S. Energy (IYE) and VanEck Vectors Oil Services (OIH) each added more than 1%.

Over in the IBD 50, PagSeguro Digital (PAGS) rose more than 5% in weak trade. Shares of the Brazilian payment company are getting close to a 32.17 buy point of a bottoming base, according to MarketSmith analysis. But they've already crossed above the 28.97 buy point of a handle visible only on the weekly chart.

Also in the IBD 50, Arista Networks (ANET) advanced nearly 3%. It's now extended from a 289.87 buy point of a cup with handle. Alexion Pharmaceuticals (ALXN) added 3% and Spirit Airlines (SAVE) rose nearly 2%.

The Innovator IBD 50 ETF (FFTY) gained 1% in the stock market today.

Please follow Gondo on Twitter at @IBD_NGondo for more on growth stocks, ETFs and how to invest in CAN SLIM-quality market leaders.

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