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Stock Market Today: Stocks At Record Highs; Netflix Eyes Q3 Earnings, Apple Reclaims Key Level | Stock News & Stock Market Analysis

The major market indexes were higher in early morning trade Monday. The tech-heavy Nasdaq and Dow Jones industrial average eased a bit fro early highs, up 0.3% and 0.2% — respectively — helped by significant strength in Apple (AAPL).

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The S&P 500 also moved up 0.2%. All three major indexes set record highs.

Among the Dow Jones Industrial components, energy giant Chevron (CVX) advanced 1% higher to move about 2% above a 118.79 saucer-with-handle entry.

On the downside, American Express (AXP) declined 1%, but is still extended from a recent 82.10 flat-base entry.

Apple was on pace to regain its 50-day line in the stock market today. Shares advanced 1.4% after KeyBanc upgraded the iPhonemaker from sector weight to overweight with a price target of 187 — a 19% premium to Friday’s closing price at 156.99. The analyst commented that Apple is in the early stages of a more aggressive market segmentation strategy that could drive gross margins higher.

Among companies reporting earnings, Netflix (NFLX) moved up 0.6% ahead of its Q3 earnings release due out after the market close. Analysts expect the video streamer to earn 32 cents per share on $2.97 billion in revenue. Shares are extended from a 190.05 cup-with-handle entry.

Brokerage firm Charles Schwab (SCHW) declined 0.6% after reporting mixed Q3 results early Monday. While earnings topped estimates, revenue came in a bit light. Shares were slightly above their 44.20 flat-base entry.

Meanwhile, investment banks Goldman Sachs (GS) and Morgan Stanley (MS) traded 0.8% and 0.6% higher ahead of their own Q3 earnings reports before the open Tuesday. Goldman is tracing a handle onto its saucer base, creating a 247.18 potential entry, while Morgan was right back at its 48.59 cup-with-handle buy point.

FANG stock Facebook (FB) edged closer to its 175.59 flat-base buy point, rising 0.5%.

Within the IBD 50, Essent Group (ESNT) followed through on Friday’s flat-base breakout, moving up another 0.9%. Shares were on pace for a fifth straight up day and in buy range from the 41.54 entry.

On the downside, Trade Desk (TTD) moved nearly 2% lower, but is still extended from a 57.97 buy point.

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