Nasdaq and small-caps stocks led the stock market Monday morning, but large caps and blue chips in the Dow Jones Industrial Average trailed. Automakers were having a strong day, as electric carmaker Tesla (TSLA) and three other vehicle makers advanced.
XThe Nasdaq and small-cap Russell 2000 popped 0.7% and 0.6%, respectively. The large-cap S&P 500 added 0.2%, while the Dow Jones also edged up 0.2%.
Volume in the stock market today was lower on both major exchanges.
Tesla has skidded since early December, falling as much as 53% in six months. Tesla jumped 4% Monday morning. The stock is trying to rebound, but is still 41% off its December high.
Other Carmaker Stocks
Other carmaker stocks rising included Fiat Chrysler (FCAU), up 1.4%; Honda Motor (HMC), up 1.2%; and Ferrari (RACE), up 0.8%.
Of the four stocks, only Ferrari recently broke out. The stock cleared a 141.06 cup-with-handle buy point in May and is now 9% above the entry.
Apple (AAPL) and the FANG stocks advanced. Facebook (FB) rose 3%; Amazon.com (AMZN), 0.9%; Netflix (NFLX), 3%; and Alphabet (GOOGL), 1.2%. Apple gained 0.9%.
Two of the five former market leaders — Facebook and Amazon — are trading within a handle area.
Among IBD's 197 industry groups, biomed stocks joined the automakers on the upside.
On the downside, the homebuilder industry group fell 1.6%. The National Association of Home Builders reported a reading of 64, below the lowest estimate in the range.
Within the homebuilder group, stocks trading in bases include D.R. Horton (DHI) and Century Communities (CCS). Horton is only 3% below a 47.12 buy point.
Exchange Traded Funds
Among ETFs, Innovator IBD 50 Fund (FFTY) edged up 0.3%. Innovator Breakout Opportunities (BOUT) slipped 0.6%.
The iShares U.S. Home Construction Fund (ITB) fell 1.4%.
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