Top Stocks Today: Nvidia Surges; Indexes Mostly Flat

The third quarter ended with a whimper in the stock market today as major stock indexes ended slightly up. There was plenty of movement below the surface, however. Top stocks today included Nvidia (NVDA) and Intel (INTC), which outperformed in the Nasdaq 100.


The Dow Jones industrial average and the Nasdaq composite picked up nearly 0.1%, while the S&P 500 was virtually flat. The Russell 2000 small-cap index led the way, rising 0.3%. Preliminary data showed volumes on the NYSE and Nasdaq coming in close to Thursday’s levels.

End-of-quarter trading can be sometimes volatile, but that wasn’t the case at all Friday. In fact, it was a great day for the bulls as indexes traded near the flat line for most of the session despite stiff selling in European bourses.

Late Friday, Republicans delayed a Senate vote on Supreme Court nominee Brett Kavanaugh to allow for an FBI probe.

In stock market results today, Nvidia was among the top stocks today. Shares of the Leaderboard name popped 5% to 281.02 in heavy volume after Evercore raised its price target to 400 from 300. A recent breakout from a late-stage base with a 269.30 correct buy point is starting to gain traction.

Intel (INTC), meanwhile, gained 3% after the company said it was on track produce enough chips to meet its full-year sales guidance. Good news from Intel was bad news for competitor Advanced Micro Devices (AMD). Shares slumped 5% on the news.

Rollins (ROL) was a heavy-volume gainer, up 2%. It’s getting support at the 50-day moving average for the first time after a breakout from a base in early July.

On the downside, sellers had their way with Facebook (FB) again. Shares plunged 2.6% after the social media company said it was hacked, with nearly 50 million users affected.

Tesla (TSLA) stock also took a hit, plunging more than 14%. Late Thursday, the SEC filed a lawsuit against CEO Elon Musk, claiming securities fraud regarding Musk’s prior statements about taking the company private. A settlement with the SEC was in the works, but Musk balked after the SEC asked him to surrender the chairman role for two years, according to CNBC.

Inside the IBD 50, top gainers besides Nvidia included Health Insurance Innovations (HIIQ), Nanometrics (NANO), Abiomed (ABMD) and Veeva Systems (VEEV).

November West Texas Intermediate crude oil settled at $73.25 a barrel, up 1.6%.

The 10-year Treasury yield ended the week mostly flat around 3.05%.


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Originally posted 2019-09-19 23:21:33.


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