Palo Alto Networks (PANW), Moderna (MRNA), Nvidia (NVDA), Tesla (TSLA) and Broadcom (AVGO) were the top five S&P 500 index gainers on the stock market today.


The S&P 500 rose 0.7% Monday even as the 10-year Treasury yield jumped to a 15-year high, though market breadth was not impressive. The Nasdaq — buoyed by PANW stock, Moderna, Tesla and Nvidia — jumped 1.6%. Both remain below their 50-day moving averages, while the market remains in a correction. The S&P 500 and Nasdaq are in day two of a stock market rally attempt.

PANW stock gapped up 14.8% to 240.81, retaking its 50-day moving average in huge volume. The cybersecurity giant has a 258.88 buy point, though investors could use 254.03 as an early entry, along with a trendline just under 250.

In a rare Friday night release, Palo Alto reported better-than-expected earnings, though revenue just missed. Guidance also was mixed, but the company gave a bullish long-term forecast.

MRNA stock leapt 9.3% to 111.08 as rising Covid cases and a new variant buoy the mRNA vaccine maker. Moderna also has a new deal to develop its experimental cancer vaccine with a T-cell CAR-T treatment from China’s Carsgen Therapeutics. Moderna stock, which last week fell to it its worst level since late 2020, is still below its 50-day and 200-day lines.

NVDA stock jumped 8.5% to 469.67, rebounding back above the 50-day and 21-day lines. Shares broke a short-term trendline and cleared a 452.68 short-term high. Either one would serve as an early entry into Nvidia stock, but Wednesday night’s earnings — and the market correction — make that extremely risky.

Two more analysts raised NVDA stock price targets Monday. That’s seven upgrades and/or price target hikes since the start of last week. Along with Q1’s strong results and blowout guidance, expectations are very high for Nvidia earnings.

TSLA stock raced 7.3% higher to 231.28. A Baird analyst noted buzz about the upcoming Tesla Cybertruck and updated Model 3, despite ongoing margin pressures. Tesla stock snapped a six-day losing streak and remains below all its moving averages, after tumbling from a 2023 high of 299.29 just before the Q2 earnings report.

AVGO stock popped 4.8% to 865.14, moving close to the 50-day line after hitting a two-month low on Friday. A decisive move above the 50-day line could offer an early entry, but risks are elevated. The AI-exposed chipmaker will likely move on Nvidia earnings.

Broadcom stock has a more traditional buy point of 921.78 or 923.18

Please follow Ed Carson on Twitter at @IBD_ECarson for stock market updates and more.


Why This IBD Tool Simplifies The Search For Top Stocks

Catch The Next Big Winning Stock With MarketSmith

Best Growth Stocks To Buy And Watch

IBD Digital: Unlock IBD’s Premium Stock Lists, Tools And Analysis Today

Time The Market With IBD’s ETF Market Strategy


Please enter your comment!
Please enter your name here