FAANG stocks helped give the Nasdaq composite a positive July start in stocks today, as the tech-heavy index rallied nearly 0.8% on Monday. Meanwhile, Intel (INTC) rose for a third straight day, rising nearly 1%. Watch to see if it holds above the key 200-day moving average. X The chipmaking giant is currently forming a new base. At 50.20, shares are just 13% below the 52-week peak of 57.60. The S&P 500 gained 0.3% while the Dow Jones industrial average trailed. Hurt by five of its 30 components falling 1 point or more, the Dow industrials gained less than 0.2%. Volume fell on both exchanges, according to early data. The trading session Tuesday is expected to be super-light, barring any big breaking news. The Nasdaq and NYSE will close at 1 p.m. ET ahead of Wednesday's July 4th holiday. Apple (AAPL) did better than the Nasdaq composite. The iPhone and iPad giant rallied 1.1% to 187.18 in quiet trade. Its gain from a 179.04 buy point in a double bottom is now at 4.5%. Thus, the … [Read more...] about Apple, FANG Stocks Help Nasdaq Advance; When Will Intel Bottom Out?
Dow Jones futures were little changed Sunday, along with S&P 500 futures and Nasdaq futures. Tesla (TSLA) Model 3 output hit 5,000 in the final week of June ahead of Q2 production and delivery figures. Tesla stock is near a buy point. Dow Jones components Apple (AAPL) stock and Microsoft (MSFT) stock are in buy range, finding 50-day line support. Meanwhile, Dell Inc. will go public again by acquiring its Dell Technologies (DVMT) tracking stock, but leave its majority-owned VMware (VMW) unaffected for now, CNBC reported. X Dow Jones Futures Today Dow Jones futures rose a fraction vs. fair value. S&P 500 futures edged lower. Nasdaq 100 futures were slightly higher. President Donald Trump told Fox News that auto tariffs are his "big" leverage in a trade war showdown with other countries. Last week, the Dow Jones fell 1.3%, closing below its 200-day moving average. The S&P 500 index also retreated 1.3% and the Nasdaq composite 2.4%, but both finished just above their … [Read more...] about Dow Jones Futures: Tesla Model 3 Hits Key Milestone; Eye Apple, Microsoft
Wall Street showed choppy action in stocks today, but in early-afternoon trading the Nasdaq composite rebounded 0.4%. The leading index had risen as much as 0.5% and is trying to stay on the north side of its critical 50-day moving average after a 1.5% sell-off in the prior session. The small-cap S&P 600 traded virtually flat. X A final revision of U.S. GDP growth to 2% in the first quarter did not inspire energetic buying by fund managers. The increase missed the Econoday consensus forecast of up 2.2%. But a few megacap techs, such as Apple (AAPL) and Microsoft (MSFT), showed positive support at the key 50-day moving average. Apple, at 185.08, is hovering above its own 50-day moving average and keeping thin gains after a May 4 breakout past a 179.04 entry in a double bottom. (Please read this earlier Stock Market Today column for three key reasons why Apple investors can keep holding the tech leader.) A Short-Term Ceiling At $400? Netflix (NFLX), meanwhile, edged just slightly … [Read more...] about Choppy Action In Stocks Today, But Apple And Microsoft Steady; Invest In This Leading Sector?
China growth stocks withered and Wall Street felt more selling pressure Wednesday as concerns over potential tariffs imposed on goods between the U.S. and its trading partners weighed on stocks today. The Nasdaq composite led with 1.5% decline, while the S&P 500 dropped almost 0.9%. X Volume rose on both exchanges, according to early data. That signaled strong propensity among mutual funds, hedge funds, banks, insurers and the like to anxiously sell equities and raise cash. Meanwhile, Apple (AAPL) almost resisted the overall decline, edging less than 0.2% lower and outperforming the market. The relative strength has come at an important time. Earlier this week, the iPhone and iPad giant sold off hard and closed beneath its 50-day moving average for the first time in nearly two months. At 184.16, the megacap tech remains mildly above a 179.04 entry in a narrow and shallow double-bottom base. Therefore, for now, this is one reason why the leading tech stock can still be held by those … [Read more...] about China Growth Stocks Slammed As Nasdaq Paces Drop; 3 Reasons To Hold Apple
The final week of the second quarter was set to start on a down note Monday, as trade fears sent Chinese and European markets lower, and weighed heavy on U.S. stock futures. China stocks and China-based names were taking the early brunt of the latest exchange in the U.S.-China trade war. Intel (INTC) lagged lower, followed by Taiwan Semiconductor (TSM) and ASML Holdings (ASML). Among China-based stocks, smaller name took the hardest early hits, but Alibaba Group (BABA), Baidu (BIDU) and JD.COM (JD) also gave up ground in early trade. Nasdaq 100 futures skidded 1% lower as Intel, Baidu and Micron Semiconductor (MU) suffered the index's deepest early declines. S&P 500 futures were down 0.6%. Futures for the Dow industrials carved 0.7% below fair value. Harley Davidson (HOG), Intel and Chipotle Mexican Grill (CMG) posted the three worst losses among S&P 500 stocks. China's markets and currency had tumbled lower Monday as the Trump Administration broadened its … [Read more...] about Nasdaq Leads Stock Futures Lower As U.S. Amps Up Trade Threats