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Dow Jones Pares Losses; These Retail Stocks Could Be Leaders In 2019

The Dow Jones and other major stock indexes were off lows in afternoon trading Friday as Wall Street braced for the start of fourth-quarter earnings season next week. In stock market news, several analysts chimed in on FANG stock Netflix (NFLX) ahead of its Jan. 17 earnings report. Shares rose 4%. In the Dow Jones, Intel (INTC) stock and Verizon (VZ) stock outperformed.




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The Dow Jones fell 0.8% intraday but halved its loss to around 0.4%. The S&P 500 and Nasdaq composite were down by similar amounts. Volume on the NYSE and Nasdaq was tracking close to Thursday’s levels. (For updates on this story and other market coverage, visit the Stock Market Today page.)

Dow Jones Gainers

Shares of Intel added around 1%. It’s trying to clear the 200-day moving average, a potential resistance level. Intel is a member of the IBD 50, along with Xilinx (XLNX), which has emerged as a leader in the chip sector.

Verizon added 0.6%. It’s above its 50-day moving average as it works on a cup-shaped base.

Selling pressure was moderate in Dow Jones components JPMorgan (JPM), Goldman Sachs (GS) and American Express (AXP). All three report earnings next week.

Elsewhere, Netflix showed bullish action by climbing above its 200-day moving average in solid volume. It’s also trying to break out over a trend line, found by connecting the stock’s recent highs.

Retail Leadership

MarketSmith Growth 250 name Burlington Stores (BURL) was another nice gainer, up nearly 2%. It’s been a big winner in recent years, but its latest consolidation is first stage because the stock’s recent low of 145.16 undercut the 148.06 low of the prior base. The shakeout of sellers was enough to reset the base count.

Other stocks in the retail sector with healthy charts include Five Below (FIVE), Chipotle Mexican Grill (CMG), Dollar General (DG), Etsy (ETSY) and Foot Locker (FL).

Marijuana Stock Soars

In the stock market today, marijuana stock Tilray (TLRY) spiked 25% after a major shareholder said it would not be selling shares ahead of the company’s IPO lockup expiration.

Inside the IBD 50, Wingstop (WING) was a top gainer as the restaurant stock tries to clear a base with a 72.10 buy point. Shares were up nearly 2% to 70.23.

On the downside, Starbucks (SBUX) fell nearly 4% early after Goldman Sachs downgraded shares to neutral from buy and lowered its price target to 68 from 75. But the stock rallied off lows and was only down 2%.

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