Stock Market News: Dow Jones Rally Led By Goldman

Financial stocks did the heavy lifting in the stock market Wednesday, helping lift the Dow Jones to a gain of 0.6% in afternoon trading. In stock market news today, earnings reports from Goldman Sachs (GS), Bank of America (BAC) and United Airlines (UAL) dominated the headlines. Meanwhile, a big fintech deal made headlines. First Data (FDC) soared 20% after Fiserv (FISV) announced plans to buy the company for more than $20 billion.




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The S&P 500 and Nasdaq composite were up about 0.3% each. The Russell 2000 small-cap index performed mostly in line with the Dow Jones, but growth stocks generally sat the rally out as Innovator IBD 50 ETF (FFTY) eased 0.2%. IBD 50 names CyberArk (CYBR) and Atlassian (TEAM) lagged with losses of more than 1% each. Results from Atlassian are due Thursday after the close. (For updates on this story and other market coverage, visit the Stock Market Today page.)

Stock Market News: Movers & Shakers

Goldman Sachs gapped above its 50-day moving average, rising 8%. But the stock remains in a downtrend, about 30% off its high. Bank of America was up 7%. It’s in better shape than Goldman, only about 14% off it high, but its 200-day moving average around 29 is a potential resistance level to watch.

In the stock market today, United Airlines also gapped up powerfully on earnings, but it’s still below the 50-day moving average, a potential resistance level to watch.

The airline with the healthiest chart at this point is Spirit Airlines (SAVE). It recently found support at the 50-day line after a breakout. It’s working on a second-stage base with a 65.45 entry.

Meanwhile, after a 30% pullback, MarketSmith Growth 250 name Attunity (ATTU) is only 4% off its high as it works on the right side of a base with a 23.95 entry. Shares were up 3.5% to 22.67.

BioTelemetry (BEAT) also outperformed, rising 3% to 69.61. It’s also approaching highs as it works on a cup-shaped base with a 74.83 entry.

In other stock market news, Netflix (NFLX) eased 0.5% ahead of its earnings report Thursday after the close. The stock on Tuesday broke out over a trend line, helped by news it’s hiking subscription prices. The FANG stock was discussed as a possible call-option trade in the latest Earnings Preview column.

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