Dow Climbs On Last Day Of 2021; These Growth Stocks Lead – Investor's Business Daily

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Stocks were mixed Friday afternoon with the Dow Jones Industrial Average holding a small gain on the final trading day of 2021.

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The Nasdaq slipped 0.2%, while the Dow Jones industrials and the S&P 500 were both  slightly higher in the stock market today. Small caps tracked by the Russell 2000 were flat. Volume was lower on both major exchanges vs. the same time Thursday.

Among exchange traded funds on Friday, Innovator IBD 50 (FFTY) climbed 0.5% and remains below its 200-day moving average. The iShares Russell 1000 Growth ETF (IWF) dipped 0.3% and Invesco QQQ Trust (QQQ) slipped 0.5%.

The U.S. economy has been struggling to recover from the Covid-19 pandemic, which triggered nationwide lockdowns more than a year and a half ago. A resurgence in cases fueled by the more contagious delta variant had been slowing as vaccinations rise.

But the new omicron coronavirus variant with a large number of mutations is raising concerns. Though much is still unknown about omicron, currently available vaccinations and boosters may offer some protection against the highly transmissible virus.

Globally, Covid-19 cases have topped 287 million, with over 5 million deaths, according to Worldometer. In the U.S., cases have now surpassed 55 million with almost 846,000 deaths.

Growth Stocks To Watch

ArcBest (ARCB), up more than 2%, was the biggest gainer among IBD Leaderboard stocks. Shares remain in buy range from a 116.89 buy point of a seven-week consolidation, according to MarketSmith chart analysis. The buy range goes up to 122.73.

U.S. Stock Market Today Overview

Index Symbol Price Gain/Loss % Change
Dow Jones (0DJIA) 36414.41 +16.33 +0.04
S&P 500 (0S&P5) 4779.71 +0.98 +0.02
Nasdaq (0NDQC ) 15707.98 -33.58 -0.21
Russell 2000 (IWM) 222.93 +0.00 +0.00
IBD 50 (FFTY) 45.94 +0.22 +0.48
Last Update: 1:22 PM ET 12/31/2021

Trucking stocks like ArcBest have been rallying amid supply chain concerns. Due to a trucker shortage and rising gasoline prices, shippers are willing to pay higher rates to move their products. ArcBest was featured last week in the IBD Stock Of The Day.

Roblox (RBLX) jumped nearly 3% as it tries to retake its 50-day moving average, which it gave up during Tuesday’s 6% slide. It triggered the round-trip sell signal earlier this month, after erasing a 36% gain from a 103.97 buy point.

Over in the IBD 50, Himax Technologies (HIMX) surged 7% in heavy trade as it builds the right side of a lengthy base. It’s now about 10% away from the entry. The stock’s 47% correction in the base, however, is much steeper than normal.

The Taiwanese chip designer leads the 31-stock fabless chip group with a 99 Composite Rating, along with Advanced Micro Devices (AMD), Alpha & Omega Semiconductor (AOSL) and Nvidia (NVDA).

Xpeng Motors (XPEV) cruised 2% higher to extend Thursday’s 10% surge. That big move sent the stock back above its 50-day line, where it had run into resistance over the prior two weeks.

Dow Jones Movers

Home Depot (HD), up 1.4%, led the upside on the Dow. Shares are on track for their eighth advance in the past nine sessions. The stock is the top performer in the Dow Jones industrials this year, with a 56% gain.

Microsoft (MSFT), in second place in the Dow this year with a 52% advance, edged 0.6% lower on Friday. The software giant is working on a new flat base with a 349.77 buy point. It’s also close to an early entry at 343.89.

Boeing (BA), down 1.1% in lower-than-usual trade, was the biggest Dow loser. It undercut its 21-day moving average. The stock has been stuck below its 50-day line since Nov. 19.

Follow Nancy Gondo on Twitter at @IBD_NGondo

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