Stock Market News: Dow Jones Led By Goldman, Boeing

The stock market held decent gains just after midday Monday. In stock market news today, several blue-chip stocks in the Dow Jones rose 1% or more, including Boeing (BA) and Goldman Sachs (GS). (For updates on this story and other market coverage, visit the Stock Market Today page.)


Nasdaq 100 leaders included FANG stock Netflix (NFLX). Shares were up nearly 3%, but the stock is still about 37% off its high after a nasty sell-off. Biotechs also fared well in the Nasdaq 100, with names like Biogen (BIIB), Amgen (AMGN), Incyte (INCY) and Regeneron (REGN) up 2% or more.

The Dow Jones industrial average was up 0.7% after rising 1.1% early. The S&P 500 and Nasdaq composite were up about 0.4% each. Volumes on the NYSE and Nasdaq were tracking lower than Friday’s levels.

Wall Street started off the week on a good mood — on optimism about China trade talks. In a tweet on Saturday, President Trump said he had a “very good call” with Chinese President Xi Jinping.

Meanwhile, the debate rages over what kind of year 2019 will be for the stock market. Instead of getting married to a bear thesis or bull thesis, continue to watch the price action in the major stock indexes. Currently, there are setups out there that could work nicely if new institutional money starts to come in from the sidelines.

The stock market is still in the early stages of a new rally attempt. Another big percentage gain in higher volume for the indexes could be enough to put the market back in a confirmed uptrend. Time will tell.

Stock Market News

In stock market news today, IBD Sector Leader Atlassian (TEAM) was up 1% to 88.68. It’s toying with a breakout over an 89.92 cup-with-handle buy point.

Inside the MarketSmith Growth 250, software leader Twilio (TWLO) outperformed, rising 3.9% to 88. It’s only 3% off its high. Twilio rallied 13% from a prior buy point of 88.98, but it erased the entire gain amid weakness in the broad market.

Also in the stock market today, Spirit Airlines (SAVE) extended gains after a solid bounce off the 50-day moving average last week. Shares were up 1%. Airlines have generally been strong performers over the past six months, but the group has been under a lot of selling pressure lately.

In economic news, the December jobs report looms large on Friday. Economists expect nonfarm payrolls to increase by 180,000 with the unemployment rate holding steady at 3.7%. The economy created 155,000 jobs in November, below expectations.

The stock market will observe normal operating hours today, but the bond market will close early at 2 p.m. ET. Bond and stock markets will be closed Tuesday for the New Year’s holiday.


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Originally posted 2019-09-19 23:29:38.


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