The major market indexes were mixed early Monday. While the S&P 500 and Dow Jones industrial average fell more than 0.1% apiece, the tech-heavy Nasdaq - driven higher by Facebook ( FB ) and Apple ( AAPL ) - looked to further capitalize on Friday's earnings strength in the stock market today , rising 0.2%.
[ibd-display-video id=2461767 width=50 float=left autostart=true] Among the Dow Jones Industrial components, Apple advanced about 2% to a new high, looking to extend a win streak to three trading sessions. Shares of the iPhone maker added to Friday's strong breakout gains above a 160.97 cup-with-handle entry, but are still in buy range. The company will report its current-quarter results late Thursday.
On the downside, Merck ( MRK ) plunged almost 5% after the pharmaceutical company withdrew its European Keytruda application. The lung-cancer drug has been approved for use in the United States. Shares hit a new 52-week low - about 17% off their highs.
Meanwhile, financial components JPMorgan ( JPM ) and Goldman Sachs ( GS ) fell about 0.3% each. JPMorgan remains extended from a 95.32 flat-base entry. Goldman is still etching a handle onto its saucer-shaped base that shows a potential entry of 247.18.
U.S. shares of Nintendo (NTDOY) surged more than 8% higher early Monday after the Nintendo Switch maker reported better-than-expected earnings and sales results. The Japan-based firm also raised its Switch sales forecast from 10 million to 14 million units amid strong demand. Shares are now up about 17% from a cup-with-handle's 43.39 entry.
FANG stock Facebook advanced 1.2% ahead of this week's Q3 earnings release . The social media giant will report earnings on Nov. 1 after the market close. Shares are within buy range from a 175.59 flat-base entry that the stock reclaimed Friday in heavy volume.
Fellow FANG stocks Amazon.com (AMZN) reversed from early losses to rise 0.7%. Shares are still in buy range from a 1083.41 buy point after Friday's earnings-powered breakout.
China-based e-commerce giant Alibaba (BABA) moved up 2.1% in early trade, further cushioning itself back above its 50-day line and regaining its 177.10 ascending-base entry . The firm will report its current quarters results ahead of the open Thursday.
Within the IBD 50 , China-based YY (YY) led the way, rising nearly 4%, as it looked to snap a four-day losing streak. During that time, the stock has given up a substantial gain from an 83.10 buy point.