Santa Claus Rally Comes Early; These Top Stocks Stood Out | Stock News & Stock Market Analysis

The stock marked turned in another bullish performance Tuesday, with the Dow Jones industrial average, S&P 500 Nasdaq composite and Russell 2000 hitting new highs.

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Apple (AAPL) was a solid gainer in the Dow, up just shy of 2%. The stock shrugged off a note from Rosenblatt Securities that talked about shorter delivery wait times for the iPhone X. But Rosenblatt also said that the phone’s high price tag could be keeping customers away.

The Nasdaq composite led the way, up nearly 1.1%. The Russell 2000 picked up 0.9%, while the S&P 500 and Dow added 0.7% each. Preliminary data showed volume on the NYSE and Nasdaq coming in higher than Monday’s levels in the stock market today.

Earnings reports were in focus again. Palo Alto Networks (PANW) gapped up sharply at the open on strong earnings, but a 10% intraday gain was halved by the close. Shares rose nearly 5% to 149.40.

Home-improvement chain Lowe’s (LOW), meanwhile, recovered nicely off lows. Shares fell 1% to 80.59 early despite quarterly results that showed better-than-expected earnings and sales growth and a 5.7% rise in same-store sales. Lowe’s continues to work on a cup-with-handle base with an 82.84 buy point.

Staying in the retail space, Ollie’s Bargain Outlet (OLLI) rose  for the third straight session in strong volume. Shares rose nearly 1% to 47 as it vies for a breakout from a later-stage base with a 47 buy point. Earnings at the fast-growing discount retailer are due Dec. 6 after the close

In the financial sector, Charles Schwab (SCHW) closed near the top of a flat base with a 46.31 buy point. Shares gained 2% to 46.08.

Inside the IBD 50, small-cap semiconductor name Ichor (ICHR) soared 7%. It’s now extended from an alternate entry after bullishly reclaiming the 50-day moving average Monday.

Also in the IBD 50, PRA Health Sciences (PRAH) is also showing good action around the 50-day line. Shares rallied nearly 3% to 83.57. It’s still in buy range from an 81.09 buy point.

At the New York Mercantile Exchange, January WTI crude oil futures settled at $56.83 a barrel, up 0.7%. The 10-year Treasury yield was recently trading at 2.36%, down 1 basis point.


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Originally posted 2017-11-26 09:39:56.


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