Stock Market Today: Stocks Higher, But Trim Gains; Dow Leads As Wal-Mart Breaks Out | Stock News & Stock Market Analysis

The major market indexes rose modestly in early morning trade Tuesday. The tech-heavy Nasdaq was up 0.1% after paring some of its gains through morning trade. The S&P 500 rose 0.2%, while the Dow Jones industrial average led the way, advancing nearly 0.3%. All three major indexes made record highs.

XAutoplay: On | Off Among the Dow Jones Industrial components, Wal-Mart Stores (WMT) soared over 4% after it announced a $20 billion share buyback program, while providing fiscal-year 2019 sales guidance. The stock was breaking out above an 82.09 flat-base buy point, and was in buy range.

Meanwhile, Apple (AAPL) edged 0.1% higher in the stock market today. The stock has created another flat-base buy point — at 165.04 — but must first reclaim the 50-day line.

Leading growth stock Nvidia (NVDA) leaped to a record high early Tuesday after the graphics-chip maker unveiled new self-driving taxi hardware, and a partnership to launch an autonomous delivery truck fleet in 2018. Shares rose 2.1%. A once-struggling breakout has now seen the stock rise nearly 10% from its 174.66 flat-base entry.

Meanwhile, fellow chip stock Applied Materials (AMAT) slipped nearly 1%. The stock remains extended from a 47.69 cup-with-handle entry.

Electric automaker Tesla (TSLA) moved up 1.3%, making up a portion of Monday’s near 4% decline where the stock fell back under its 50-day line after announcing it was pushing back the unveil date of its new big rig truck. Late Monday, Morgan Stanley raised its price target on the stock from 317 to 379 — a premium of about 10% to Monday’s closing price.

Among other analyst actions, Ichor (ICHR) saw its price target upped from 26 to 32 at Deutsche Bank. The IBD 50 stock surged almost 6% and is well-extended from a 25.41 buy point.

Video game maker Take-Two Interactive Software (TTWO) was on track to fall for a second straight day, dropping 1.6%. On Monday, an analyst downgrade sparked a near 3% sell-off in shares.

Within the IBD 50, Atlassian (TEAM) followed up on Monday’s breakout above a 39.35 buy point, rising over 1.5%. The collaboration-software maker is on pace to extend a winning streak to 10 trading sessions.

On the downside, China-based China Lodging Group (HTHT) fell over 3%. Despite today’s fall, the stock has still had a strong advance — almost 50% — from an 88.18 flat-base entry.


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Originally posted 2017-10-10 14:54:49.


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