BREAKING: Dow, S&P 500 Hit Fresh Highs

The Dow Jones Industrial Average briefly rallied 100 points Friday, as Disney stock jumped on earnings results. Apple is in buy range past a new buy point, while Tesla stock skidded in midday trade.
Among Dow Jones leaders, Apple (AAPL) rallied 0.2% Friday, while Microsoft (MSFT) moved up 0.2% in today’s stock market. Home Depot (HD) is back above a new buy point and is in buy range. Disney (DIS) jumped 4% after strong earnings late Thursday.
Tesla (TSLA) looked to give up a part of Thursday’s gains, sliding almost 1% Friday morning. The EV giant continues to hold above a new buy point.
Among the top stocks to buy and watch, Nvidia (NVDA), Snap (SNAP) and Square (SQ) are in or near new buy zones.
Apple, Nvidia, Microsoft and Tesla are IBD Leaderboard stocks. Snap is an IBD SwingTrader stock, while Square was featured in this week’s Stocks Near A Buy Zone column.
Get these newsletters delivered to your inbox & more info about our products & services. Privacy Policy & Terms of Use
The Dow Jones Industrial Average rose 0.1% Friday, while the S&P 500 also traded 0.1% higher. The tech-heavy Nasdaq composite traded in and out of narrow losses in morning trade.
Among exchange traded funds, the Innovator IBD 50 (FFTY) traded down 0.5% Friday. Nasdaq 100 tracker Invesco QQQ Trust ETF (QQQ) gained 0.2%. Meanwhile, the SPDR S&P 500 ETF (SPY) moved up less than 0.1%.
The Dow Jones industrials and the S&P 500 hit more all-time highs Friday, while the Nasdaq looked to add to Thursday’s modest gains.
Thursday’s Big Picture commented, «The market’s distribution-day count is starting to improve. On Tuesday and again Thursday, a distribution day on the S&P 500 dropped off the count due to time, while the Nasdaq lost a stalling session on Wednesday due to time. This indicates that some institutional selling is starting to age out, offering investors another reason to be more confident.»
For more stock market commentary, check out IBD’s The Big Picture.
Stock Market ETF Strategy And How To Invest
Dow Jones leader Home Depot is in buy range past a cup with handle’s 333.55 buy point, according to IBD MarketSmith chart analysis. The 5% buy area goes up to 350.23.
Shares reversed an early gain and dropped 0.45% Friday morning.
IBD Leaderboard stock Nvidia is tracing a flat base with a 208.85 buy point, according to IBD MarketSmith chart analysis. Per Leaderboard analysis, «Unlike the previous base that failed, the prior base spent more time above the 50-day line. Because the previous base undercut a prior pattern, the base count has reset. So, the latest pattern was first stage. These are more likely to succeed.» Nvidia stock moved up 0.1% Friday.
IBD SwingTrader stock Snap is trading in the 5% buy zone above a 73.69 buy point in a consolidation. The 5% buy area tops out at 77.37. Shares lost 0.5% Friday midday.
On July 23, Snap surged almost 24% following a second-quarter earnings report that toppled estimates with revenue more than doubling, and an outlook that also beat views.
Square is trying to hold above a 267.87 buy point in a cup-with-handle base amid Friday’s 0.3% loss. The 5% buy zone goes up to 281.26.
The IBD Stock Checkup shows SQ stock as having a 95 out of a perfect 99 IBD Composite Rating. The IBD Composite Rating identifies stocks with a blend of strong fundamental and technical characteristics.
Dow Jones media giant Disney jumped 4% Friday following the company’s strong Q3 results late Thursday. The company earned 80 cents per share, beating FactSet views of 55 cents. Revenue jumped 45% to $17.02 billion, topping estimates of $16.76 billion. Disney+ subscriptions of 116 million beat FactSet views for 115.2 million. ESPN+ had 14.9 million, and Hulu had 42.8 million.
Disney stock is moving up the right side of a new base. Shares are approaching a 203.12 buy point in a consolidation. An early entry at 186.39 is also in play.
Tesla stock reversed 1% lower Friday, on pace give back a portion of Thursday’s 2% advance. Shares are holding above a 700.10 aggressive buy point deep inside a correction. Meanwhile, a deep, large base continues to take shape.
On Jan. 25, Tesla stock hit a record high at 900.40, after climbing as much as 93% from a 466 buy point in a cup with handle.
Among the top Dow Jones stocks, Apple moved up 0.2% Friday, looking to add to Thursday’s 2.1% gain. Apple stock is in a new buy area above a 148 trendline buy point. The stock hit an all-time high on July 15 at 150.
Software giant Microsoft rose 0.2% early Friday, but remains just off Monday’s record highs. Microsoft continues to trade solidly above a cup base’s 263.29 buy point. The stock is extended above the 5% buy zone, which goes up to 276.45.
Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones Industrial Average.
YOU MAY ALSO LIKE:
Top Growth Stocks To Buy And Watch
Learn How To Time The Market With IBD’s ETF Market Strategy
Find The Best Long-Term Investments With IBD Long-Term Leaders
MarketSmith: Research, Charts, Data And Coaching All In One Place
Market Rally Choppy, But Near Highs; Watch These 5 Stocks
8/13/2021 The market rally is holding near highs, but buying opportunities are running dry. Pay attention to Nvidia and DocuSign.
8/13/2021 The market rally is holding near highs, but buying opportunities…
New cars are in short supply, so drivers are holding on to their vehicles longer, which is good news for companies that sell auto parts. (©lastfurianec — stock.adobe.com)
Get instant access to exclusive stock lists, expert market analysis and powerful tools with 2 months of IBD Digital for only $20!
Get market updates, educational videos, webinars, and stock analysis.
Learn how you can make more money with IBD’s investing tools, top-performing stock lists, and educational content.
Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. The information has been obtained from sources we believe to be reliable; however no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Authors may own the stocks they discuss. The information and content are subject to change without notice.
*Real-time prices by Nasdaq Last Sale. Realtime quote and/or trade prices are not sourced from all markets.
Ownership data provided by Refinitiv and Estimates data provided by FactSet.
© 2000-2021 Investor’s Business Daily, LLC. All rights reserved

source

Por redditxxx