Dow Jones Jumps 300 Points In Today’s Stock Market

The major indexes roared higher in today’s stock market action with the Dow Jones industrial average advancing more than 300 points. Over the weekend, the United States and China agreed to delay planned increases in tariffs. Blue-chip Apple stock was solidly higher, while Tesla stock moved within striking distance of a new breakout. (For updates on this story and other market coverage, visit the Stock Market Today.)


The Dow Jones industrials and the S&P 500 index gained 1.2% and 1%, respectively. The tech-heavy Nasdaq composite trimmed gains to 1.4% after rising as much as 2.1% at the stock market open. The Nasdaq is trying to regain its 50-day line.

Apple Stock, Boeing Pace Dow Jones Industrials

Dow Jones stock Apple (AAPL) gained nearly 2% in early trade. Apple stock continues to rebound after falling as much as 27% from its 52-week high on Nov. 26.

Boeing (BA) soared 5% on its flight back above the 50-day line. Shares are approaching a double bottom’s 373.80 buy point.

Stock Market Earnings: These 3 Retailers Set To Report

After the stock market close Monday, RH (RH) — formerly known as Restoration Hardware is set to report. Analysts expect the retailer to earn $1.27 per share on revenue of $631.9 million. Shares are trading at their long-term 200-day moving average line, about 29% off their 52-week high.

Later in the week, a number of top growth stocks are due to announce quarterly earnings, including Leaderboard stock Ulta Beauty (ULTA) and Lululemon (LULU). Ulta Beauty is in buy range from a flat base’s 290.40 buy point, while Lululemon is recovering from a 28% correction. The yoga-gear retailer found support at its 200-day line on Nov. 20.

Trump Tweet Boosts Automakers, Tesla Stock

Early Monday, President Trump tweeted, “China has agreed to reduce and remove tariffs on cars coming into China from the U.S. Currently the tariff is 40%.” The tweet sparked a rally among U.S. automakers, including Tesla (TSLA).

Tesla stock accelerated 3% to the upside and is rapidly approaching a cup with handle’s 366.85 buy point, according to MarketSmith chart analysis. On Friday, Tesla stock was boosted 2.7% with the electric-car maker reportedly making 1,000 Tesla Model 3 cars in a day, a key milestone.

Meanwhile, General Motors (GM) and Ford (F) moved up about 3% apiece in today’s stock market action. General Motors reached price levels not seen since late July, as it moves up the right side of a potential base formation. Last week, General Motors came under fire from President Trump after GM announced plans to idle assembly plants and lay off thousands of factory workers.

Ford remains below its 200-day line and about 26% off its 52-week high.

IBD 50 Stocks: Trade Desk Continues Recovery

Among the leading growth stocks, Trade Desk (TTD) extended a win streak to eight trading sessions, gaining over 2% at the stock market open. But the stock’s gain dwindled to just 1% in morning trade. The top stock is shaping the right side of cup-shaped base with a 161.60 buy point. Be on the lookout for a potential handle that would lower the risk-optimal entry.


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Originally posted 2019-09-19 23:27:02.


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