May 12, 2021 1 min, 54 secs

The Dow industrials drilled 200 points lower at the open, down 0.6% and seriously testing support at its 21-day moving average.

The Nasdaq Composite slumped 1.2% on the stock market today, with Lam Research (LRCX) and Zoom Video (ZM) diving to the bottom of the Nasdaq 100.

Citigroup (C) also traded high on the S&P 500, up 0.9% with bank stocks moving up alongside rising bond yields.

Energy stocks in general rallied as oil prices climbed above $66 a barrel.

Consumer prices jumped more than expected in April, with the Labor Department reporting its Consumer Price Index surged 0.8% for the month, and 4.2% on a year-over-year basis.

Minus food and energy, prices jumped 0.9%, vs.

Fast-rising prices for everything from corn to iron ore and copper to oil and gold — along with strengthening bond yields — have fueled broad concerns for a rising battle with inflation.

China-based stocks faded from early gains, which were fed by Hong Kong's benchmark Hang Seng Index rebounding after taking a steep dive on Tuesday.

China-based 360 Digital (QFIN) led the IBD 50 list in early trade, rising 3.8% as the stock attempts to stem a three-week slide.

Retail gas prices had jumped 6 cents a gallon vs.

Prices briefly jumped above $2.21 a gallon on Monday, their highest mark since May 2018.

West Texas Intermediate oil prices gained, rising 1.2% Wednesday to above $66 a barrel — narrowly below the $66.76 high from last week, and nearing the 33-month high of $67.98, recorded on March 8.

IBD 50 Growth Stocks To Watch Right Now.

The 10-year yield jumped back above its 50-day moving average on Tuesday, following its longest period — five days — below that level of support since August.

The Dow Jones today opens sitting neatly at its 21-day line, a level of support it has maintained since a brief drop to test 50-day support in early March.

Lumber Prices, Stocks Soar — But Can The Industry Manage The Windfall.

Best Growth Stocks To Buy And Watch.

The 21-Day Exponential Moving Average: Your New Edge.

Apple and Microsoft are among the best Dow Jones stocks to buy and watch in May 2021.

Apple and Microsoft are among the best Dow Jones stocks..

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