June 23, 2024

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Stock Market Today: Dow Jones Falls As Super Micro Computer Rockets; These 3 Warren Buffett Stocks Near Entries

2 min read

Stocks fell Monday as Dow Jones component Apple (AAPL) got hit with a $2 billion fine by the European Union while fellow “Magnificent Seven” stock Nvidia (NVDA) popped. Super Micro Computer (SMCI) was living up to its name as it rocketed higher. And three Warren Buffett stocks are trading near entries on the stock market today.


Meanwhile, a couple of other noteworthy stocks are also trading near buy points. Rollins (ROL) tested an entry while Fortinet (FTNT) is near the top of a base.

Stock Market Today: Nasdaq Dips, Small Caps Gain

The tech-heavy Nasdaq index fell 0.2% in afternoon trading. Warner Bros. Discovery (WBD) lagged here as it fell around 6%, losing even more ground on its moving averages in the process.

The benchmark S&P 500 slipped fractionally. Hewlett Packard Enterprise (HPE) stood out here, surging more than 9% as it extends gains from its earnings rally.

The S&P 500 sectors were mixed. Communication services and consumer discretionary lagged most on the stock market today. Materials and utilities, the latter a defensive area, were the strongest sectors.

Small caps outperformed, with the Russell 2000 rising 0.4%. Growth stocks got nibbled by the bears, though, with the Innovator IBD 50 ETF (FFTY) falling 0.4%.

The 10-year Treasury note rose 4 basis points to 4.23% while the 30-year also gained 4 basis points to 4.36%. The five-year yield popped 6 basis points to 4.22% while the two-year jumped 8 basis points to 4.61%.

Dow Jones Today: Apple Stock Falls After Fine

The Dow Jones Industrial Average gave up some ground amid the mildly negative early action. It was down around 80 points, or 0.2%.

Apple was the worst performing Dow stock as it fell more than 3% on news the EU is fining the company $1.95 billion. Its executive body, the European Commission, said the firm violated antitrust rules by restricting app developers from telling users about alternative ways to subscribe to music-streaming services. It has ordered Apple to remove…

2024-03-04 13:50:45

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