Nasdaq Leaders Apple, AMD, PayPal, Nvidia Take Big Hits; Dow Jones Erases 294-Point Intraday Gain – Investor's Business Daily

The Dow Jones Industrial Average outperformed Friday with a mostly flat performance in afternoon trading. But the Nasdaq composite reversed sharply lower after a bearish reversal Thursday brought the index down to its 50-day moving average. The Dow Jones industrials erased a 294-point intraday gain to break-even afternoon trading.

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Top gainers in the Dow Jones included Nike (NKE), which joined Leaderboard on Aug. 10. That’s when it staged a breakout over a 104.79 buy point.

Several top stocks took hits in the Nasdaq 100, including Advanced Micro Devices (AMD), Apple (AAPL), PayPal (PYPL) and Lululemon (LULU). AMD stock is nearing a first test of its 10-week moving average, while Apple is facing a critical test of its 10-week line. PayPal and Lululemon are below their 10-week lines.

In afternoon trading, the Nasdaq was down 1.3%. The S&P 500 and Russell 2000 small-cap index fell about 0.4% each. Volume on the NYSE and Nasdaq was lower compared to the same time Thursday.

The Innovator IBD 50 ETF (FFTY) held up relatively well, down 0.8%, helped by strong showings from IBD 50 stocks like PerkinElmer (PKE) and Thermo Fisher Scientific (TMO). PerkinElmer was Thursday’s IBD 50 Stocks to Watch pick.

U.S. Stock Market Today Overview Index Symbol Price Gain/Loss % Change Dow Jones (0DJIA) 27530.50 -4.08 -0.01 S&P 500 (0S&P5) 3321.67 -17.52 -0.52 Nasdaq (0NDQC ) 10772.27 -147.32 -1.35 Russell 2000 (IWM) 148.66 -1.49 -0.99 IBD 50 (FFTY) 35.85 -0.32 -0.88 Last Update: 1:28 PM ET 9/11/2020

Top gainers in the in the MarketSmith Growth 250, included Zillow (Z), HD Supply (HDS) and Palomar (PLMR).

Stock Market Movers

Several Dow Jones stocks showed gains of 1.5% or more, including Dow Inc. (DOW), Caterpillar (CAT), Coca-Cola (KO) and 3M (MMM). Dow has a relative strength line in

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