The Dow Jones Industrial Average slipped on a day the Nasdaq fared best amid a tech stocks rally. Apple and Microsoft were the best Dow performers. FAANG stocks Facebook, Apple, Amazon, Netflix, and Google-parent Alphabet all marked gains.
The tech-heavy Nasdaq was the best-performing major index of the day, rising 2%. The index added some room above its 50-day moving average.
The S&P 500, which features a range of stocks from all parts of the economy, also managed to close positive. It gained 0.8% as it pulled further away from its 50-day line.
The Dow Jones Industrial Average surrendered some ground following two days of solid gains. However the loss was minimal, coming in at 0.1%.
Apple stock pulled away from its 50-day line as it gained 3%. It has some distance to go before it hits its buy point of 138.08, however. Microsoft turned in a gain of 2.6%. It also remains shy of a possible entry point of 232.96.
MacDailyNews Note: Apple’s all-time intraday high stands at $137.98 (split-adjusted), set on September 02, 2020. Apple’s 52-week low is $53.15 set on March 23, 2020.