Stocks Today: Nasdaq Jumps As Enterprise Software Leaders Explode Higher

An avalanche of earnings reports brought more buyers into the stock market Thursday, but the Dow Jones lagged, hurt by soft results from Visa (V), Microsoft (MSFT) and DowDuPont (DWDP). Stocks today surging on earnings included Facebook (FB), ServiceNow (NOW) and Mastercard (MA).




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Facebook stock surged above its 200-day moving average, rising 12% after the company reported a 9% rise in daily active users. Monthly active users also rose 9%. Leaderboard name ServiceNow gapped out of a consolidation, rising 16%. And Mastercard is still in the early stages of a breakout over a 210.01 entry. Shares were up more than 3% to 211.48.

In afternoon trading, the Nasdaq composite was up 1.5% and the S&P 500 rallied 0.8%. The Dow Jones Industrial Average edged lower by 0.1%. Volume on the NYSE and Nasdaq was tracking about 20% higher than Wednesday. (For updates on this story and other market coverage, visit the Stock Market Today page.)

Among stocks today in the Dow Jones, Procter & Gamble (PG) was a bright spot, up 1.7% to 96.15. It’s near the top of a base with a 96.99 entry.

Stocks Today On The Move

Plenty of enterprise software stocks today followed ServiceNow higher. Twilio (TWLO), Coupa Software (COUP), Workday (WDAY) and Five9 (FIVN) scored new highs, with gains ranging from 4% to 7%. Coupa cleared a cup-shaped base with an 84.63 buy point; Workday gapped up and reclaimed a 172.77 entry, and Five9 cleared a 49.60 entry. The enterprise software group was one of the top-performing industry groups Thursday, up 3.4%.

Other stocks today outperforming in the stock market included Mastercard (MA), also on strong earnings. Shares were up more than 3% to 211.46, good for a breakout over a 210.01 buy point.

Mastercard was a top gainer in the IBD 50, along with Atlassian (TEAM), Twitter (TWTR) and Abiomed (ABMD). Shares of Atlassian were volatile Jan. 18 after the company reported earnings, but the stock has recovered nicely. Twitter, meanwhile, has earnings coming up as it gets resistance at its 200-day moving average. Results are due Feb. 7 after the close.

After falling 3 basis points Wednesday to 2.68%, the 10-year Treasury yield fell another 4 basis points to 2.64%. Investors bought bonds Wednesday and Thursday on the heels of dovish comments Wednesday from Federal Reserve Chairman Jerome Powell.

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