The Dow Jones Industrial Average rose in today's stock market and was on track to close higher for a sixth straight session. On Monday, the major indexes added to last week's solid gains after the market's best week since November.
XThe three major indexes notched fresh record highs on Monday. Meanwhile, Bitcoin also hit a record high of nearly $44,000 after climbing 12%. The rise came after Tesla (TSLA) disclosed in an SEC filing that it purchased $1.5 billion worth of Bitcoin. The electric-car maker also announced it may begin allowing the use of Bitcoin to purchase products.
Tesla stock rose 1.7% on today's stock market. Shares continue to trade tightly near all-time highs. The stock maintains a half-size position on IBD's Leaderboard.
In late trading, the small-cap Russell 2000 index was up 2%, leading the indexes on the upside. The Dow Jones held a gain of 0.5% while the S&P 500 rose 0.4%, after hitting a new high of 3,909.92. The Nasdaq composite picked up 0.6% but was off highs after hitting an intraday high of 13,973.06.
Volume was higher on the Nasdaq and lower on the NYSE compared with the same time on Friday.
The Innovator IBD 50 ETF (FFTY) rose 1.8% Monday, outpacing the major indexes. The growth-focused ETF was boosted by a handful of stocks that rose more than 3% each. Stocks leading the upside included Atkore International Group (ATKR) and 1-800-Flowers.com (FLWS), with gains of 6.5% and 7.9%, respectively.
Dow Jones Today
The Dow Jones maintained a decent gain Monday with help from Disney (DIS) and Chevron (CVX), which led the upside with respective gains of 4.4% and 2.7%.
Shares of Disney stock rose above a new flat-base buy point of 189.28 and are currently trading inside the 5% buy zone. Share held near their highs in afternoon trading. The buy zone tops out at 192.68. Disney stock recently found solid support at the 50-day line, which sent shares directly past the buy point.
Elsewhere, Goldman Sachs (GS) was also a top gainer in the Dow on Monday. Shares rose 2.3%. The stock tested its 10-week line last week, offering an alternate entry. But shares are now nearly 9% above the key area of support.
Among the worst performers in the Dow Jones were Merck (MRK) and Nike (NKE), which fell more than 1% each.
Stocks In Or Near Buy Zones
Stocks that traded in or near buy zones Monday included Dropbox (DBX), Medpace Holdings (MEDP) and 908 Devices (MASS).
Dropbox, featured in Monday's IBD 50 Stocks To Watch, briefly rose above a 25.26 buy point in a cup base. Shares traded 0.3% lower Monday and remain just 2% below the 5% buy zone, according to IBD MarketSmith chart analysis. The firm maintains a perfect Composite Rating of 99 but a lower-than-ideal RS Rating of 57 due to a period of sideways trading in recent months.
Meanwhile, shares of Medpace Holdings rose above a 150.67 flat-base buy point. Share remain near the lower edge of the 5% buy zone, which tops out at 158.20. The stock rose 2.2% on Monday and maintains a strong Composite Rating of 93.
908 Devices also scored a breakout as share climbed above a 74.10 IPO-base buy point. The medical research firm has a decent 81 RS Rating and a relative strength line that's hitting new highs.
Follow Rachel Fox on Twitter at @foxonstocks for more market insight and Dow Jones commentary.
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