The major stock indexes remained mixed in afternoon trading but were off the lowest levels of the day as the market sought direction.
The Nasdaq composite was up 0.4%, while the S&P 500 was down 0.2%. The Dow Jones Industrial Average was down 0.4%. The Russell 2000 lagged with a 0.6% drop.
Stock Indexes Volume Declines
NYSE volume is down 14.7% and Nasdaq volume is down 23.2% from the same time Monday.
HealthEquity provides a platform where consumers can access and manage their health savings accounts. The stock is up 7.4% today and rising above a buy point of 66.23 in a cup-with-handle base, according to its weekly MarketSmith chart. It has an improving Relative Strength Rating of 95, up from 86 one week ago, and 56 four weeks ago.
Keep in mind that it's too risky to buy stocks while the stock market is in a correction.
Natural Gas And Oil Stocks Show Strength
U.S. Stock Market Today Overview |
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|---|---|---|---|---|
| Index | Symbol | Price | Gain/Loss | % Change |
| Dow Jones | (0DJIA) | 30384.11 | -132.63 | -0.43 |
| S&P 500 | (0S&P5) | 3741.61 | -8.02 | -0.21 |
| Nasdaq | (0NDQC ) | 10860.87 | +51.64 | +0.48 |
| Russell 2000 | 169.14 | -1.06 | -0.62 | |
| IBD 50 | 29.74 | +0.29 | +0.98 | |
Last Update: 1:38 PM ET 6/14/2022 |
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Cheniere Energy, a producer and exporter of liquefied natural gas, is up 9.4%. The stock is approaching the 21-day exponential moving average and the 50-day moving average. Sales growth has been strengthening, with a 142% increase in Q1 and a 135% lift in Q4 of 2021. Annual earnings per share are expected to turn positive in 2022, after it posted losses in 2020 and 2021.
Mutual fund ownership has been increasing, with 1,578 funds holding the stock in March, up from 1,470 in December 2021, and 1,342 in September 2021.
Among other stock indexes action, CF Industries is up 8.3% and holds a best-possible Earnings Per Share Rating of 99, and Relative Strength Rating of 97. It has an SMR Rating of A, the highest possible. The rating tracks sales growth, profit margins and return on equity. CF Industries is in the IBD 50 Index.
Crude oil is up 0.9% today at $122 per barrel. Oil exploration and production companies are showing strength, with Continental Resources up 13.9% on a gap-up day. The company has had strong quarterly earnings per share growth, with a 244% increase in March, and 878% in December 2021. Annual EPS growth is estimated to be 149% in 2022.
Diamondback Energy is up 2.6% after a price target increase from Barclays to 180 from 160. Barclays held its overweight rating. The company has had strong but decelerating quarterly EPS growth of 126% in the March quarter and 343% in its December-ended quarter.
The chart is in an eight-week-old consolidation phase and it rose above the 21-day exponential moving average. It has a best-possible Composite Rating of 99, and an EPS Rating of 94.
Market Awaits Big Fed Rate Hike As Yields Keep Soaring
Weakness In Crypto And Financials
Bitcoin continued to slide, down another 2.8% today to $22,450, with a low of $20,775. Coinbase, the cryptocurrency exchange, announced it will be laying off 18% of its workforce. The stock is down 0.7% today.
Goldman Sachs is up 0.8% after hitting a low yesterday of 278.32, a level not seen since January 2021. The company's earnings declined the past two quarters.
The Innovator IBD 50 ETF is up 1.1%, outperforming the major indexes.
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