Stock Market Mostly Flat As Apple Stock Edges Higher

The stock market was mixed and mostly unchanged in early trading as Apple (AAPL) stock rebounded a bit, up 0.4%.


The Dow Jones industrial average, S&P 500 and Nasdaq composite were mixed and mostly unchanged about one hour into the session.

The 10-year Treasury yield edged up 2 basis points to around 2.98%.

Apple Stock Down 5% Last Week

Apple had a bad week ahead of its May 1 earnings report. A cautious note from Morgan Stanley and a weak sales outlook from Taiwan Semiconductor Manufacturing (TSM) weighed.  TSM is a big Apple supplier and cited weak smartphone demand.

Shares of Lululemon Athletica (LULU) fell less than 1% in early trade, hurt by a Needham downgrade to hold from buy. The athletic apparel retailer has been a top Leaderboard performer

In the stock market today, Halliburton (HAL) traded lower early Monday on mixed Q1 results. Toymaker Hasbro (HAS) also got off to a rough start, down 4%, on a sales miss.

IBD 50 Winners

Early gainers in the IBD 50 included (STMP), Red Hat (RHT) and Casa Systems (CASA). is still in buy range from a 215.86 buy point after a low-volume breakout.

After the close, watch for earnings from Google parent Alphabet (GOOGL) and TD Ameritrade (AMTD).

Shares of Alphabet rose 4% last week but ended just below the 10-week moving average.  TD Ameritrade  has a healthier chart as it carves a flat base with a 63.11 entry.


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Originally posted 2019-09-19 23:13:17.


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