The Dow Jones Industrial Average was lower as Microsoft (MSFT) slipped despite a bullish call. Gold miner Newmont (NEM) popped on an upgrade on the stock market today. Nvidia (NVDA) hit another all-time high while Warren Buffett firm Berkshire Hathaway (BRKB) cut its stake in Chinese EV giant BYD (BYDDF).

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The Dow Jones index was off lows as it traded flat while the tech-heavy Nasdaq composite rose 0.2%. Autodesk (ADSK) was up nearly 6% in the Nasdaq amid news that activist fund Starboard Value bought a $500 million slice of the company.

Meanwhile, the S&P 500 was also up 0.2%. In the S&P, Bio-Rad Laboratories (BIO) outperformed thanks to a gain of more than 5%. Leaderboard stock First Solar (FSLR) lagged as it fell more than 6%.

The S&P 500 sectors were mixed on the stock market today. Industrials and the defensive consumer staples areas were strongest while utilities and real estate lagged.

Small caps slid, with the Russell 2000 down 0.5%. The Innovator IBD 50 (FFTY) exchange traded fund reversed lower, though its dip was fractional on the stock market today.

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Stock Market Today: These Stocks Flash Sell Signals

Brazilian aerospace stock Embraer (ERJ) flashed a round-trip sell signal after it gave up a 14% gain from a 27.25 flat base entry.  The stock is getting support at the 50-day moving average for now.

Utility meter maker Itron (ITRI) is trying to rally back after gapping down below its 50-day moving average. The move came in high volume and followed the announcement of an offering of $500 million of convertible senior notes.

Chinese online brokerage play Futu (FUTU) has fallen below its 50-day line in above-average volume, though it could yet qualify as a test. But holding on could be a bad move as it is close to round-tripping gains from a 65.44 cup-with-handle buy point.

Dow Jones Today: Disney Stock Outperforms

The action was skewed to the downside in early trading.

Walt Disney (DIS) was faring best on the Dow Jones today, gaining more than 1%. It remains below its 50-day moving average, MarketSurge analysis shows.

The likes of Johnson & Johnson (JNJ) and insurance play Travelers (TRV) were also positive, though gains were fractional.

Verizon Communications (VZ) was the worst Dow laggard as it fell more than 1%. However Cisco Systems (CSCO) and UnitedHealth (UNH) were hot on its tail.

Stock Market Today: Gold Stock Gets Upgrade

Gold investors will be excited by a bullish call on Newmont.

UBS analyst Daniel Major raised his rating on the stock to buy from neutral and hiked his price target to 50 from 40. He sees potential for an above-consensus pop in gold prices.

Major also cited forthcoming divestments, which he said will leave it with “one of the best portfolios in the industry consisting of predominantly large long-life assets in low risk jurisdictions.”

However the thesis will take some time to play out. The price of Gold COMEX Futures was lower today, falling 0.5% to $2,337.60 per ounce. Newmont itself inched fractionally higher on the stock market today.

Warren Buffett Sells BYD Stock

Buffett’s Berkshire Hathaway has sold off another chunk of its holdings in Chinese electric vehicle maker BYD. It sold 1.3 million shares for $39.8 million, a filing to the Hong Kong Stock Exchange showed.

“It cut Berkshire’s stake in the firm’s Hong Kong H-shares from 7.02% to 6.9%. The company has been unloading the stock since 2022. Despite the sale, BYD stock was essentially flat on the stock market today.

Warren Buffett did not head the original investment. Instead, it was a purchase led by the Oracle of Omaha’s trusted lieutenant Charlie Munger, who died at the age of 99 last year.

Earnings are strong for BYD, with its EPS Rating coming in at 91 out of 99. However stock market performance over the past 12 months has been underwhelming.

Magnificent 7: Nvidia Stock Hits New High

The so-called Magnificent Seven were having mixed fortunes on the stock market today.

Tesla (TSLA) was faring best as it rose more than 2%. The stock is above its 50-day moving average but below the 200-day line.

Nvidia (NVDA) touched fresh all-time highs before backing off. Apple (AAPL) climbed 1.7%.

Microsoft (MSFT) was slightly higher. Wedbush analyst Daniel Ives increased his Microsoft price target over the weekend to 550 from 500 and held his outperform rating.

Meta Platforms (META) fell 0.6% as it continues to form a cup base. Google parent Alphabet (GOOGL) and Amazon.com (AMZN) were down nearly 1% each.

Outside Dow Jones: 3 Stocks Eye Entries

With the market rally still going strong, it is a good idea to watch for breakouts. Here are three potential candidates.

ELF Beauty (ELF) has formed a cup-with-handle with an ideal buy point of 202.58. Strong overall performance is reflected in a near-perfect IBD Composite Rating of 97 out of 99. ELF stock has surged more than 33% so far this year.

Booking (BKNG) is closing in on a flat base ideal entry point of 3,918, but is above a 3,853 handle entry. Alternatively, investors could view the pattern as a double-bottom base, with 3,853 being another buy point.

This is a second-stage pattern, which still counts as early in a long-term advance. Both earnings and stock market performance are strong for the travel play. The Janus Henderson Forty Fund (JACCX) is among the noteworthy holders, as well as the Fidelity Contrafund (FCNTX).

Discount clothing retailer Ross Stores has formed a consolidation with an ideal entry point of 151.12, MarketSurge analysis shows. It holds an EPS Rating of 92. Stock market outperformance is its weakest attribute, though it is still within the top 18% of issues in terms of price performance over the past 12 months.

Please follow Michael Larkin on X, formerly known as Twitter, at @IBD_MLarkin for more analysis of growth stocks.

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