Dow Jones Falls; Tesla Stock Rallies As Nasdaq Gains; Marijuana Stocks Higher On This Surprise – Investor's Business Daily

The Dow Jones Industrial average closed lower in a seesaw session. However the major indexes ended well off lows for the day. Tesla (TSLA) impressed by rallying out of the red.  Intel (INTC) and Merck (MRK) were top blue chips. Marijuana stocks gained after Tilray (TLRY) sprung a profit surprise.

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A couple of stocks managed to stage breakouts despite the negative action. Both were from more defensive areas. Insurance play W. R. Berkley (WRB) and East West Bancorp (EWBC) tested buy points.

Stocks were getting pressured as yields continued to rise, yet the heavy selling eased late in the session. The benchmark 10-year U.S. Treasury note ended up closing down slightly at 1.77%.

Nasdaq Reverses Higher; Growth Stocks Battle Back

The tech-heavy Nasdaq fought back well after an early pounding. It closed with a razor-thin gain of under 0.1%. Moderna (MRNA) was the top performer, rising 9.3% after the company firm updated its pipeline at the JPMorgan Healthcare Conference. It also hiked guidance for advanced purchase agreements for product sales to about $18.5 billion this year, up from a prior report of $17 billion.

The S&P 500 also narrowed losses as it

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