Dow Jones Rallies; Has The Stock Market Bottomed?

The major stock indexes jump-started higher in today’s stock market action, as Wall Street digested the ramifications of a split Congress. The Dow Jones industrial average rallied about 200 points in morning trade. Tableau Software (DATA) was breaking out above a buy point on strong earnings. Dow Jones stock Apple (AAPL) continued its nascent recovery. (For updates on this story and other market coverage, visit the Stock Market Today.)


The Dow Jones industrials rose 0.6% while the S&P 500 moved up 0.7%. The tech-heavy Nasdaq was sharply higher, rising 1.1%.

The stock market’s rally attempt continues. Investors should be on the lookout for a follow-through day, which would confirm a new uptrend is underway. Today’s rally on the Nasdaq was promising. The follow-through day threshold is a 1.25% gain on volume that is greater than the previous trading session. Volume is tracking higher on the Nasdaq and NYSE exchanges.

Stock Market Earnings: Twilio, Tableau Jump On Earnings

Among companies reporting earnings, Twilio (TWLO) soared 24% after reporting strong earnings results late Tuesday. The stock is quickly moving up the right side of a potential new base. Shares are nearing a new high.

Tableau Software is breaking above a cup-shaped base’s 118.18 buy point with a 16% gain. The 5% buy range tops out at 124.09. The software company smashed earnings estimates but missed revenue targets.

Square, Take-Two To Report Late

After the stock market close, leading payment processor Square (SQ) is expected to report earnings per share of 11 cents on revenue of $413.9 million. Shares are in the midst of recovering from 36% decline off the 52-week high. Square stock rose about 5% in morning trade.

Meanwhile, earnings for Take-Two Interactive Software (TTWO) are expected to decline 21% to 93 cents per share on revenue of $549.9 million. Shares are trading just under their 50-day moving average line, as a new base looks to take shape.

Dow Jones Stock Apple

Dow Jones stock Apple extended gains to two straight days, rising almost 1% in morning trade. Still, Apple stock is well below its 50-day moving average line amid the sell-off in the immediate aftermath of last week’s quarterly results.

IBD 50 Stocks: Match Group Plunges

Among the leading growth stocks, Match Group (MTCH) plunged 17% after the company’s guidance disappointed. Shares are nearly 30% off their 52-week high.

On the upside, Planet Fitness (PLNT) jumped 16% on strong quarterly earnings late Tuesday. Shares are moving up the right side of a potential base and are within striking distance of a new high.


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Originally posted 2019-09-19 23:24:40.


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