Stock Market Today: Stocks Modestly Higher; Is Facebook The Next FANG Breakout? | Stock News & Stock Market Analysis

The major market indexes were higher in early morning trade Friday. The tech-heavy Nasdaq set the pace, rising over 0.3%. The S&P 500 and Dow Jones industrial average rose just over 0.2% apiece.

XAutoplay: On | Off Among the Dow Jones Industrial components, Wal-Mart Stores (WMT) was on track to extend its recent win streak to five trading sessions, advancing 0.4%. Shares are now extended from a 82.09 flat-base entry after Tuesday’s breakout.

On the downside, Unitedhealth Group (UNH) dropped almost 2% on high turnover, falling further under its 50-day line.

Among companies reporting earnings, global bank Well Fargo (WFC) dropped over 3% after reporting mixed Q3 results. The bank is back below its 200-day line and further away from a potential double-bottom entry at 56.70.

Meanwhile, Bank of America (BAC) reversed from early losses to rise over 1% after reporting better-than-expected Q3 earnings and sales. Shares are attempting to remain above a 25.45 cup-shaped base entry.

FANG stock Netflix (NFLX) saw its second price-target boost in as many days as after JPMorgan raised it from 210 to 225 ahead of next week’s Q3 results. Shares jumped almost 2%, and are barely extended from a cup-with-handle’s 190.05 buy point. Shares also notched a fresh record high.

Meanwhile, Facebook (FB) rose almost 1%, and was approaching its 175.59 flat-base entry. The stock is less than 1% away from that mark.

Fellow FANGs Amazon.com (AMZN) and Google-parent Alphabet (GOOGL) both advanced about 0.5% higher. Amazon is continuing to build the right side of a potential base, while Facebook is once again approaching a 175.59 flat-base. Alphabet was back above a 1006.29 flat-base entry.

Former high-flier Applied Optoelectronics (AAOI) plunged another 20% early Friday after preannouncing weak Q3 earnings late Thursday. Shares were about 55% off their late-July high of 103.41.

Within the IBD 50, video game maker Electronic Arts (EA) rose over 1% as it attempted to regain control of its 50-day line. Shares are building a flat base with a 122.89 potential buy point.

On the downside, Grubhub (GRUB) declined over 1%, and appears to be stuck under its 50-day line. The food deliver service now has a modest gain — about 6% — from a 47.94 entry after being up as much as 20% on Sept. 7.

Meanwhile, leading biotech Celgene (CELG) was under its 50-day line after today’s 1.2% decline. After being up as much as 5.8% from a 139.10 flat-base entry, shares are now over 1% under that level.

RELATED:

S&P 500 Hit Highs As Wal-Mart, Nvidia Soar, AT&T Dives, JPMorgan Ups Reserves: Week In Review

Dow Jones Industrial Average And Dow Stocks: News And Analysis

Strong Retail Banking Lifts BofA Profit; Wells Fargo Revenue Misses

FANG Stocks News & Quotes: Facebook, Amazon, Netflix, Google

Source link

Related posts:

No comments.

Leave a Reply