China's largest online music streaming service, Tencent Music Entertainment Group (TME) is the IBD Stock Of The Day, providing an opportunity to learn important lessons about investing in IPO stocks. X A spin-off of China tech giant Tencent Holdings (TCEHY), Tencent Music began trading on Dec. 12. It priced 82 million American depositary receipts at $13, the low end of its estimated price range of $13 to $15 per share, raising $1.1 billion. The stock rose 8% on its first day of trading. But it sank quickly amid weakness in the broad market. It hit a record low of 11.81 four days after the IPO, on its way to building a first-stage IPO base. Tencent is now working on the right side of a cup-shaped base, with a buy point of 14.85. Tencent Music stock closed at 13, down 1.7%, on the stock market today. It's important to know that IPO stocks can be volatile, even those that launch a nice run from a first-time breakout. Trading IPO stocks requires following a sound set of sell rules. … [Read more...] about IBD Stock Of The Day: Can This New Stock Break Out From An IPO Base?
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The stock market ended with modest losses Thursday as trade talks with China continued. Meanwhile, worries about renewed legal issues for President Trump also weighed on sentiment. X Synopsys (SNPS), Nvidia (NVDA) and Ross Stores (ROST) were top performers in the Nasdaq 100, while Twilio (TWLO), Advanced Micro Devices (AMD), Stitch Fix (FIX) and Trade Desk (TTD) ended with solid gains in the MarketSmith Growth 250. The Dow Jones industrial average and Russell 2000 small-cap index gave back 0.3%; the S&P 500 lost 0.2% and the Nasdaq composite eased 0.1%. Preliminary data showed volume on the Nasdaq coming in higher than Wednesday's level in the stock market today. NYSE volume was close to Wednesday's level. Synopsys was a big earnings winner. It gapped out of a lengthy consolidation, rising 6% to 100.69. Nvidia, meanwhile, continued its post-earnings recovery. Shares rose another 1.5% to 266.84. It briefly cleared a 269.30 buy point but closed off session highs. Ross Stores picked … [Read more...] about Stock Market Today: Indexes Resilient Despite Trump, Trade War Angst
Markets largely held fire early Thursday, with stock futures narrowly lower as the U.S. launched new tariffs against China, China retaliated, and global bankers gathered for a Federal Reserve conference in Jackson Hole, Wyo. X In early stock action, Victoria's Secret owner L Brands (LB) and meat producer Hormel (HRL) dived on earnings news. Alibaba Group Holding (BABA) and Children's Place (PLCE) gained on their quarterly results. Outerwear phenom Canada Goose (GOOS) traded nearer to a buy point, as chipmaker Advanced Micro Devices (AMD) plowed further into a profit-taking zone following an early-June breakout. Dow futures, Nasdaq 100 futures and S&P 500 futures all wrestled with tight losses. 3M swung to the deepest early decline among Dow stocks. Hormel and L Brands were the worst performers among S&P 500 stocks. Synopsis (SNPS) led the Nasdaq 100 and S&P 500 by a wide margin. (For updates on this story and other market coverage, visit the Stock Market … [Read more...] about Stock Futures Quiet As U.S., China Launch Tariffs: 2 Stocks Near Buy Points
Adam Shell USA TODAY Published 10:33 p.m. UTC Aug 22, 2018 The dilemma of what stocks to buy is particularly tricky right now. If you want to own shares of companies, you'll be getting into a market that began rising more than nine years ago and now sits near an all-time high. The bull market, now 3,453 days old, will be the longest in history by the end of trading on Wednesday. And the Standard & Poor's 500, the broadest measure of U.S. stocks, hit a record Tuesday for the first time in six months. So is it too late to jump in and pick up some stocks? Pinpointing market tops is difficult. While Wall Street skeptics have been warning of a big drop for years, this bull keeps proving them wrong, and has risen almost 325 percent since March 2009. That's why investment pros say it's wrong for investors to flee completely. "That would be a mistake," says Cliff Hodge, director of investments at … [Read more...] about What stocks should you buy with the market at a record high?
Stocks moved sharply higher Tuesday as a raft of heavyweight earnings wins combined with a tide of overseas confidence to bolster early trade. Google-parent Alphabet (GOOGL) provided a hub for early market gains, battling with Biogen (BIIB) for top billing among Nasdaq 100 stocks. Biogen, Alphabet and Eli Lilly (LLY) topped the S&P 500, while Whirlpool (WHR) dived to the bottom of the index as steel tariffs chewed into its second-quarter results. X The Nasdaq Composite easily led at Tuesday's open, up 0.9%. Caterpillar (CAT) rose 2.7%, Boeing (BA) climbed 1.8%, helping lift the Dow 0.5%. The S&P 500 posted a 0.6% gain at the start of trade. (For updates on this story and other market coverage, visit the Stock Market Today.) Markets In China, Europe Rally On China Stimulus China's yuan dived to a new one-year low against the dollar, and markets in China rallied after regulators announced a round of business tax cuts, as well as an infrastructure spending program … [Read more...] about Stocks Rally As Alphabet Tops Nasdaq, China Exits Bear Market