April Webinar RegistrationApril Webinar Registration


Stock Market Closing Update: Indexes End Mixed As Apparel Makers Jump

The stock market ended mixed Monday, recovering late off session lows. Apple stock gave back 0.3% after rising 0.7% early.

X

The Nasdaq composite closed with a loss of 0.25%, reversing a 0.7% intraday gain. The Dow Jones industrial average and S&P 500 ended mostly flat. Preliminary data showed volume on the NYSE and Nasdaq coming in lower than Friday's levels.

Shares of Alphabet (GOOGL) turned lower in after-hours trading despite better-than-expected earnings. Shares of TD Ameritrade (AMTD) were indicated lower in Monday's after-hours session, also on earnings.

One of the best performing industry groups in IBD's database Monday was Apparel-Clothing Manufacturing. Top gainers in the group were Hanesbrands (HBI), Under Armour (UA) and Michael Kors (KORS). Under Armour and Michael Kors benefited from positive analyst chatter.

Micron Technology (MU), Netflix (NFLX) and Western Digital (WDC) underperformed in the Nasdaq 100 with losses of around 3%. Shares of Netflix weakened on news it's tapping the bond market for additional funding.

The 10-year Treasury yield edged up 1 basis point to around 2.97%.

Apple Stock Down 5% Last Week

Apple (AAPL) had a bad week last 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.

In related news, the European Union on Monday said it's taking a closer look at Apple's planned acquisition of music-identification service Shazam.

Two Breakouts In Heavy Volume

Heavy-volume gainers in the stock market today included TCF Financial (TCF). Shares soared 7% to 24.34 on strong earnings. The Minnesota-based regional bank is still well within buy range from a 23.90 entry.

Security software maker Okta (OKTA) also joined the breakout ranks. Shares jumped 3% in heavy volume. It's still in buy range after a breakout from a cup-shaped base with a 42.98 entry. The stock is also featured in IBD's Stocks Near A Buy Zone column.

Meanwhile, shares of Lululemon Athletica (LULU) were weak early, hurt by a Needham downgrade to hold from buy. But the athletic apparel retailer recovered well off session lows and reversed slightly higher. Lululemon has been a top Leaderboard performer.

Elsewhere, Halliburton (HAL) edged higher on mixed Q1 results, while toymaker Hasbro (HAS) reversed higher despite a sales miss. Shares jumped 4% to 86.16.

IBD 50 Winners

Top gainers in the IBD 50 included Stamps.com (STMP), BOFI Holdings (BOFI) and SVB Financial (SIVB).

Stamps.com is still in buy range from a 215.86 buy point in a cup with handle after a low-volume breakout.

RELATED:

Why Winning Stocks Are Already Strong Price Performers Before Big Price Moves

TD Ameritrade Headlines Top Stocks Near Buy Points Ahead Of Earnings

Option Trading: Earnings On Deck For Lockheed Martin; Tech Giants Intel, Amazon, Microsoft

Online Poker Giant Breaks Out On $4.7 Billion Bet On Sports Gambling

The Latest Inside Investor's Corner

Which Way Is The Stock Market Headed? Read This Column Each Day