The Dow Jones outperformed in the stock market Thursday, helped by a strong showing from UnitedHealth (UNH). Health care stocks were active in the stock market today after the White House decided to drop its drug rebate rule, designed to bring down drug prices. Other providers of pharmacy benefit management services rallied sharply on the news, including Cigna (CI), Anthem (ANTM) and CVS Health (CVS).
XCigna is still in buy range after gapping over a 294.96 buy point.
The Dow Jones industrials ended with a gain of less than 0.9%, closing above the 27,000 level for the first time. The S&P 500 added 0.2% and the Nasdaq composite eased 0.1%. Preliminary data showed volume on the NYSE and Nasdaq coming in slightly lower than Wednesday's levels.
In other stock market news, Delta Air Lines (DAL) closed off highs but still rose 1% to 60.15. The top-rated airline in IBD's database reported strong earnings and gave a bullish outlook. Delta stock is in a buy zone now.
New issue CrowdStrike (CRWD) reversed lower ahead of its earnings report next week. It's working on an IPO base with a 79.89 buy point. The security software stock isn't profitable yet but shows big sales growth in recent quarters.
Dow Jones Movers
Goldman Sachs (GS) was another top performer in the Dow Jones today, up nearly 3% to 211.35. Earnings are due next week as the stock trades just above a 209.95 buy point. Several other financial stocks are set to report earnings next week and are near buy points, including JPMorgan (JPM), Citigroup (C) and Bank of America (BAC).
Home Depot (HD) also outperformed in the Dow Jones, rising 1.6% to 214.04 as the stock approaches an all-time high. It's still in buy range from a 208.39 entry.
MarketSmith Growth 250
New issue Tradeweb Markets (TW) was a big gainer in the MarketSmith Growth 250, up 3% to 49.33. The stock made its 11th straight gain, although most gains have come in average or below-average volume. It's now extended from a 46.43 entry.
Ciena (CIEN) joined the Leaderboard watchlist Thursday. It's been trading sideways after the stock gapped up last month on strong earnings. It's not far from a potential entry of 46.33, 10 cents above its June 7 high.
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