Stock Market News: Dow Jones Falls; Apple Stock Up

The major indexes were squarely lower in today’s stock market. The Dow Jones industrial average fell about 100 points. Dow Jones member Apple (AAPL) stock is looking to snap a five-day losing streak, while Walmart (WMT) is trying to retake a buy point after its strong earnings results. (For updates on this story and other market coverage, visit the Stock Market Today.)


The Dow Jones industrials and the S&P 500 index fell about 0.5% each. The tech-heavy Nasdaq composite dropped 0.3%.

Stock Market Earnings: Dow Jones Stocks

Among companies reporting earnings, Walmart (WMT) fell 0.8% after reporting better-than-expected Q3 earnings results. Notably, e-commerce sales growth accelerated. On Oct. 29, the stock broke out past a cup with handle’s 100.31 buy point. Shares are in the 5% buy range that tops out at 105.33.

Cisco Systems (CSCO) late Wednesday topped the Street’s earnings and sales estimates for its fiscal first quarter. Shares moved up 3.3% and are trying to regain their 50-day moving average line. A flat base’s 49.57 buy point looms ahead.

After the stock market close, embattled graphics-chip maker Nvidia (NVDA) will report its Q3 results. Analysts expect EPS of $1.91 per share on revenue of $3.24 billion. Nvidia stock is trading over 30% off its high and well below its 50- and 200-day lines.

Apple Stock Set To Snap Losing Streak

Dow Jones name Apple stock is trying to halt a five-day losing streak with a 0.4% gain Thursday. At its Wednesday lows, shares fell as much as 20% from its 52-week high set Oct. 3. Bearishly, the stock failed to find support at its long-term 200-day line.

PayPal Stock Called ‘Top Pick’

Top payment-processor PayPal (PYPL) narrowed its early gain to 0.3% Thursday morning after Barclays initiated coverage on the stock with an overweight rating and a 110 price target — a 31% premium to Wednesday’s closing price. The analyst called PayPal stock a ‘top pick’ among the payment processors.

PayPal stock is building a cup-shaped base with a 93.80 buy point. The stock’s relative strength line — painted in blue ink on every IBD daily and weekly chart — is holding up well amid the recent market volatility. The RS line measures a stock’s price performance vs. the general market.

Fellow payment stock Square (SQ) also gained 0.3% in morning trade. The 2017 and 2018 big winner is building a late-stage base, but is below its 50-day line.

IBD 50 Stocks: Horizon Triggers Sell

Among the leading growth stocks, Twitter (TWTR) moved up for a third straight day with a near-1% gain. The stock is trying to regain its 200-day line moving average line and is about 30% off its 52-week high.

On the downside, recent breakout Horizon Pharma (HZNP) triggered the 7%-8% loss-cutting sell signal from a 21.35 cup-shaped base’s entry early Thursday. Mizuho Securities downgraded the top stock from buy to neutral.


How To Invest In The Market

Top Stocks To Buy And Watch

Apple Stock News & Quotes

Can This Top Stock Follow In Dow Jones’ McDonald’s Steps?

IBD’s ETF Market Strategy

Source link

Originally posted 2019-09-19 23:25:23.


No comments.

Leave a Reply

error: Content is protected !!