The Dow Jones Industrial Average, Nasdaq and S&P 500 traded up sharply on Tuesday after opening higher. Stocks moved higher after Russia said it was pulling some troops from Ukraine's border. Meanwhile, travel stocks got a boost after strong earnings from Marriott International and Airbnb.
Stock Market Today
At the close, the Dow Jones industrials were up 1.2% as the index attempts to reclaim its 200-day moving average after breaking below this area last week. The Nasdaq composite rose 2.5% as it once again approaches its 21-day exponential moving average.
The S&P 5oo held a gain of 1.6% and also freshly reclaimed its 200-day moving average. The yield on the 10-year Treasury note was up to 2.04%, after last week's spike in inflation data.
The Russell 2000 traded up 2.7%, leading the upside. Data showed volume was running higher on the Nasdaq and lower on the NYSE vs. the same time on Monday. The Innovator IBD 50 ETF rose 2.7% after finding resistance at the 21-day line last week.
U.S. Stock Market Today Overview |
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|---|---|---|---|---|
| Index | Symbol | Price | Gain/Loss | % Change |
| Dow Jones | (0DJIA) | 34988.31 | +422.14 | +1.22 |
| S&P 500 | (0S&P5) | 4471.00 | +69.33 | +1.58 |
| Nasdaq | (0NDQC ) | 14139.76 | +348.84 | +2.53 |
| Russell 2000 | 206.04 | +5.36 | +2.67 | |
| IBD 50 | 38.16 | +1.01 | +2.72 | |
Last Update: 4:38 PM ET 2/15/2022 |
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Last week's heavy selling caused a downgrade in IBD's market outlook to "uptrend under pressure." The selling pressure was largely due to worse-than-expected consumer price index data, which showed inflation rose at its fastest pace in 39 years.
Inflation showed further indication of rising in Tuesday's report on the producer price index for January, which showed a 9.7% surge on a year-over-year basis. That was above forecasts for 9.2%. Wholesale prices rose 1% in January from the previous month, double the forecast for a 0.5% increase.
Meanwhile, Russia's Defense Ministry said it withdrew some troops from near Ukraine, but large-scale military maneuvers continued. NATO, Ukraine and other Western officials warned that combat units had moved into forward positions, while Russia's military buildup still was estimated to exceed 120,000 troops. Talks to de-escalate the crisis continued.
The price of U.S. crude oil — which had been rising as the crisis escalated — slid 3.9% to $91.88 a barrel.
Outside Dow Jones: Stocks To Watch This Week
Travel stocks making notable moves on Tuesday included Marriott International and Expedia. Marriott climbed over 5.7% after the hotel operator beat fourth-quarter estimates. Marriott shares are now slightly extended from the buy range of a 171.26 buy point of a cup-with-handle base. The company, with upward of 7,600 lodging properties, saw year-over-year EPS growth of 983% while sales rose 105%.
Meanwhile, Expedia rose over 7% as shares became extended from a recent 190.88 cup-with-handle buy point. The stock initially broke out last week in heavy volume and followed through on the breakout this week.
Elsewhere, Hilton neared a new 159.31 buy point ahead of its earnings this week. The stock's RS line notched a new high on the weekly chart ahead of a potential breakout.
The company is expected to report earnings tomorrow, before the market opens. According to Zacks Consensus Estimate, the fourth-quarter bottom line is pegged at 71 cents per share while analysts expect sales to come in at $1.71 billion.
Finally, Airbnb posted earnings after the close on Tuesday, beatings analysts estimates for revenue, earnings and gross bookings. Revenue climbed 78% year over year to $1.53 billion versus $1.46 billion expected. Meanwhile, adjusted earnings per share reached $0.08 versus the $0.07 expected and gross bookings totaled $11.3 billion, also exceeding expectations.
Breakouts For SeaWorld, Golden Entertainment
In the MarketSmith Growth 250, theme park operator SeaWorld moved past a 70.07 buy point of a double-bottom base, rising more than 5.5%. The stock's relative strength line is hitting a new high on the weekly chart, a bullish sign. The leisure services industry group is in high demand, and ranks No. 26 of the 197 groups IBD measures.
Golden Entertainment, another leisure-related stock from the casinos and gaming segment, rose above a 54.96 buy point of a long consolidation. The thinly traded stock also saw its RS line hitting a new high on the weekly chart.
Follow Rachel Fox on Twitter at @IBD_RFox for more Dow Jones and stock market commentary.
