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Dow Jones Gains As Nasdaq Rallies; Tesla Gains Despite Losing This Race; BioNTech Gets Vaccine Boost

The Dow Jones Industrial Average moved higher, while the Nasdaq rallied out of the red. Tesla (TSLA) gained, even as a rival beat it in the race to a new market. BioNTech (BNTX) popped after Pfizer (PFE) presented Covid vaccine booster data.




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A number of stocks managed to pass buy points, despite the uncertain action, such as  Copart (CPRT). Teck Resources (TECK), WillScot Mobile Mini (WSC) and Montrose Environmental (MEG) passed buy points.

Nasdaq Rallies As Growth Stocks Lead

The Nasdaq managed to rally out of negative territory, rising around 0.7%. E-commerce stock eBay (EBAY) fared best, rising around 3.5%. Electronic Arts (EA) was the worst laggard, falling almost 6% amid rumors its “Battlefield 2024” game is facing a delay.

The S&P 500 was also moving higher, gaining 0.8%. Diamondback Energy (FANG) was the big gainer here, rising around 8% amid broad strength in oil stocks. But Wynn Resorts (WYNN) dropped almost 8% as casino stocks continue to struggle.

U.S. Stock Market Today Overview

Index Symbol Price Gain/Loss % Change
Dow Jones (0DJIA) 34804.10 +226.53 +0.66
S&P 500 (0S&P5) 4477.14 +34.09 +0.77
Nasdaq (0NDQC ) 15141.12 +103.36 +0.69
Russell 2000 (IWM) 222.04 +2.00 +0.91
IBD 50 (FFTY) 49.64 +0.67 +1.37
Last Update: 2:58 PM ET 9/15/2021

The S&P sectors were nearly all making progress, with energy and industrials making the best gains. Only utilities were slipping lower.

Small caps were outperforming, bouncing back after the previous day’s struggles. The Russell 2000 was up 0.9%.

However, it was once again growth stocks that performed best of all, with the Innovator IBD 50 ETF (FFTY) up 1.4%.

Dow Jones Today: Walgreens Stock Leads

The Dow Jones Industrial Average was also gaining, up 0.7%.

Walgreens Boots Alliance (WBA) was the biggest winner, rising more than 3%.

The move saw it clear its 200-day line, which currently sits just above the 50-day moving average.

Nike (NKE) was the biggest loser on the Dow Jones today, falling 0.5%. It is losing ground on its key 50-day line.

Tesla Stock Gains Despite Losing EV Race

Tesla stock moved higher, even after it emerged that EV startup Rivian had beaten it to the punch by rolling out the first all-electric pickup truck.

Rivian CEO R.J. Scaringe tweeted with photos Tuesday that the first R1T came off the assembly line at its Normal, Ill., plant that morning.

The firm has reportedly received regulatory approval to sell and deliver both its R1T pickup truck and R1S SUV in all 50 U.S. states. The R1T electric pickup starts at around $67,500.

Tesla CEO Elon Musk previously said its own solution, the Cybertruck, will not go into  production until late 2022. Even then, it will be late ’23 before volume production begins.

Leaderboard stock Tesla was up more than 1%. TSLA stock is currently in the buy zone above an alternate entry at 730. A long, deep base is also continuing to form.

BioNTec Stock Gets Vaccine Boost

BioNTech stock rose after the Food and Drug Administration released the argument made by BioNTech partner Pfizer (PFE) in favor of Covid vaccine booster shots.

Pfizer said in a document that recent data suggest the vaccine is roughly 84% effective after four months, down from 96% in the week after the second dose.

“Effectiveness against delta infections was more than 90% early on,” Pfizer said. “Vaccine effectiveness decreases with increasing time since being fully vaccinated, irrespective of variant, and effectiveness against delta variant hospitalizations remained high over the entire study period.”

Pfizer wants a booster dose to be given six months following the second dose to maintain efficacy.

The FDA posted the briefing ahead of a key meeting on Friday. An independent panel of experts will debate Pfizer’s booster shot plan before making a nonbinding recommendation to the full FDA.

BioNTech stock rose almost 6%, pulling further away from its 50-day moving average. Pfizer stock gained slightly.

Copart Stock Leads Names Passing Buy Points

Copart stock is flashing an early entry as it rebounds from its 50-day line and breaks a trend line. It is also homing on a flat-base buy point of 149.16.

The Long-Term Leader stock was added to Swing Trader Wednesday morning. Its excellent performance saw it named the IBD Stock Of The Day for Wednesday.

The salvaged auto seller’s North America CEO Jeffrey Liaw told investors on the Sept. 9 earnings call that strong used car prices are driving returns. 

Canadian mining stock Teck Resources, meanwhile, managed to move above a cup-base buy point of 26.82, according to MarketSmith analysis.

The stock, which boasts strong earrings and stock market performance, is now just below its entry.

WillScot Mobile Mini is in a buy zone after moving above a flat-base entry of 30.48. Earnings are a weakness however for the modular space and storage solutions company, with its EPS Rating coming in at 34 out of 99.

Montrose Environmental moved above a consolidation pattern buy point of 59.72. It is currently sitting just under this entry.

The environment services firm is a strong stock market performer, but the July 2020 new issue has yet to turn a profit.

Please follow Michael Larkin on Twitter at @IBD_MLarkin for more on growth stocks and analysis.

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