Stocks Charge Ahead; Will Apple Buy Netflix? | Stock News & Stock Market Analysis

Stock indexes opened the new year’s first session on a cheerful note, as the major indexes gripped solid gains midday Tuesday.

X The Nasdaq popped 1.1%, while the S&P 500 and the Dow Jones industrial average advanced more than 0.5% and 0.1% respectively. The small cap Russell 2000 at one point added 0.9%.

Volume in the stock market today was running far above Friday’s pace.

The Philadelphia Semiconductor Index’s 1.5% gain energized the Nasdaq. The Sox is trying to regain its 50-day line but is only 4% off its high.

The FANG stocks — Facebook (FB), (AMZN), Netflix (NFLX) and Alphabet (GOOGL) — also were doing well.

Netflix showed the best gain, up about 4% in heavy  volume.

Analysts at Citi said there is a 40% likelihood that Apple (AAPL) will buy Netflix. Apple is expected to repatriate $220 billion in cash under the new tax laws. The Citi analysts said Apple has more than enough cash to buy Netflix.

Meanwhile, Macquarie Research upgraded Netflix from neutral to outperform, lifting the price target from 200 to 220.

Apple, which is sometimes included in the FANG group, rose 1.3% in fast trade midday Tuesday.

Among IBD’s 197 industry groups, department stores and steel producers were among the day’s upside leaders. On the downside, meat and alcoholic beverages sagged.

The Innovator IBD 50 Fund (FFTY) rose 1.4%. The exchange-traded fund reflects the IBD 50, a list of the strongest stocks via fundamentals and technicals. The Innovator Fund advanced 37.4% in 2017.


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Originally posted 2018-01-07 13:20:11.


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