Stocks Surge; Apple On Track For Best Day In Weeks | Stock News & Stock Market Analysis

U.S. stock indexes dashed ahead in Tuesday morning trade, as the Nasdaq led the market for the first time in about two weeks.

XAutoplay: On | Off The Nasdaq sprang up 0.9%, while the blue chip Dow Jones industrial average and the S&P 500 advanced 0.6% each. The small cap Russell 2000 also added 0.6%.

Volume in the stock market today rose modestly vs. Monday’s sluggish pace. Trade surrounding Thursday’s Thanksgiving holiday is expected to be quiet.

In the previous three sessions, small caps have outperformed the major indexes. But the Russell 2000 trailed in morning trade.

Chip stocks gave a lift to the Nasdaq. The Philadelphia semiconductor index, also know as the SOX, climbed 1.2%. Within the SOX, leading components included Micron Technology (MU), up 2.5%; and MKS Instruments (MKSI), Applied Materials (AMAT), and Lam Research (LRCX), each up 2%.

Blue chips were up without exception. In the 30-component Dow Jones industrial average, Apple (AAPL) led with a 1.7% gain. Volume in Apple was running at twice its usual pace. Apple is showing its best action in awhile. The stock fell in seven of the past eight sessions through Monday. Apple is slightly extended from a stage two, cup-with-handle base. The buy point was 160.97.

Among IBD’s 197 industry groups, the day’s leaders included software security, specialty steel, chips and homebuilders. Losers included retail and apparel.


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Originally posted 2017-11-27 09:45:00.


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