Stock Market Struggles Amid Mixed Signals

Strategic Insights -

The stock market was virtually flat on Tuesday, as the Dow Jones Industrial Average struggled to make headway. Boeing and Walt Disney were the blue chip standouts, while Amazon dipped amid news it is being sued by the DC Attorney General on competition grounds. Meanwhile, IBD Sector Leader stock LGI Homes is offering a fresh buy point as it stages a rebound. The stock market's mixed signals come as a report shows home prices spiked at the fastest rate in more than seven years.

Key Takeaways:

  • The Dow Jones Industrial Average was virtually flat, with Boeing and Walt Disney being the blue chip standouts.
  • Amazon stock dipped amid news it is being sued by the DC Attorney General on antitrust grounds, losing ground on its 50-day moving average.
  • LGI Homes is in a buy zone as it stages a bullish rebound from the 10-week moving average, with an ideal buy point of 166.17.
  • The S&P CoreLogic Case-Shiller 20-city home price index was up 13.3% in March compared to the previous year, the biggest gain since December 2013.
  • Home prices have been buoyed amid low interest rates and high consumer demand, especially among millennials starting families.

Statistics:

  • The Dow Jones Industrial Average was flat on Tuesday, with a gain/loss of -0.85% and a percentage change of 0.00%.
  • Boeing was the top performer of the day, gaining more than 2% and remaining below its 50-day line.
  • The S&P 500 was also flat, with a gain/loss of -1.95% and a percentage change of -0.05%.
  • LGI Homes has a perfect IBD Composite Rating of 99 and is up 65% so far in 2021.

Sources:

  • Dow Jones Industrial Average, Source: algotrades.com
  • Boeing Stock, Source: marketwatch.com
  • Amazon Stock, Source: cnbc.com
  • LGI Homes, Source: investors.com
  • S&P CoreLogic Case-Shiller 20-city home price index, Source: corelogic.com