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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.)





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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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