Stocks Today: Dow Jones Up, China New Issue Soars

The stock market held bullish gains in afternoon trading Friday, cheered by a $1 trillion offer from China to seal a trade deal with the U.S. Stocks today on the move included Home Depot (HD), Caterpillar (CAT) and Chevron (CVX) in the Dow Jones. Micron Technology (MU) and Western Digital (WDC) were top stocks today in the Nasdaq 100.


Beaten-down semiconductor stocks also outperformed in the Nasdaq 100, including Lam Research (LRCX), ASML Holding (ASML) and Applied Materials (AMAT).

China stocks today rallied on the trade-deal news, including new-issue Tencent Music (TME). Shares soared 8% to 14. It’s getting close to a 14.33 entry.

The Dow Jones industrial average and S&P 500 were up around 1%. The Nasdaq composite picked up 0.7%. Volume was heavy on both exchanges due to options expiration. (For updates on this story and other market coverage, visit the Stock Market Today page.)

Stocks Today On The Move

In earnings news, FANG stock Netflix (NFLX) was under pressure, down nearly 4%, as Wall Street weighed another quarter of strong subscriber growth with a slight sales miss.

Meanwhile, enthusiasm was short-lived regarding Atlassian‘s (TEAM) earnings report. Share surged more than 7.5% early, but the stock reversed sharply lower. Shares were down 4% to 89.32 in afternoon trading. It’s testing support near a proper buy point of 89.92.

Stocks today on the move included IBD 50 member (ALRM). It cleared a wide-and-loose base in heavy volume, rising nearly 4%. The buy point was 60.30, but if gains hold today it will mark the stock’s 16th gain in 18 sessions.

Enterprise software name HubSpot (HUBS) was another nice mover, up 2.5%. It’s near the top of an 18-week consolidation that shows a conventional entry of 162.30. Group peer Workday (WDAY) was on pace for its fourth straight gains as it vies for a breakout over a 172.77 buy point. Shares were up nearly 3% in light volume.

In other stock market news, Tesla (TSLA) cratered 13% after the company announced job cuts and lowered profit expectations for the fourth quarter.

A reminder: The stock market will be closed Monday in observance of Martin Luther King Jr. Day.


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Originally posted 2019-09-19 23:31:23.


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