Stocks Today: Autodesk Soars On Earnings; Microsoft Leads Dow Jones

The first day of a new rally attempt for the Nasdaq composite was looking pretty good in afternoon trading Wednesday. Top stocks today in the Nasdaq 100 included Autodesk (ADSK), which soared 8% on strong earnings. Microsoft (MSFT), meanwhile, was one of the top stocks in the Dow Jones, up around 2.5%.




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The Nasdaq was up 1.4% in light, preholiday volume. (For updates on this story and other market coverage, visit the Stock Market Today page.)

The S&P 500 picked up 0.8%, and the Dow Jones industrial average rose 0.6%. Small caps outperformed, with the Russell 2000 up 1.9%.

IBD 50 Standouts

In the stock market today, four stocks in the IBD 50 outperformed nicely.

Trade Desk (TTD) was up 5%. Support looks strong around the 100 level as the stock consolidates gains after a strong uptrend. When the bear market runs its course and institutional money starts to come in from the sidelines again, Trade Desk still has the potential to be a stock market leader.

Shares of Ubiquiti Networks (UBNT) were up 2.5%. The stock continues to show exceptional relative strength in a weak market tape. Ubiquiti gapped up Nov. 9 on strong earnings. It’s trading tightly and holding near highs but is extended.

Tech products distributor CDW (CDW) has its sights set on reclaiming a 90.60 buy point. Shares were up 3% to 88.58.

Meanwhile, IBD 50 component Planet Fitness (PLNT) is also holding its own after a failed breakout from a faulty base. It’s back above its 50-day moving average and only 8% off its high. Shares were up nearly 4% in afternoon trading.

Top Stocks Today In The MarketSmith Growth 250

MarketSmith Growth 250 names showing relative strength Wednesday included MongoDB (MDB), Tableau Software (DATA) and Amedisys (AMED).

At the New York Mercantile Exchange, U.S. crude oil futures bounced back after falling nearly 6% Tuesday. Oil was up nearly 4% to $55.54 a barrel even after weekly inventory data showed a ninth straight increase in crude supplies. OPEC is widely expected to cut production next month when major oil producers gather in Vienna on Dec. 6.

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