The Dow Jones Industrial Average briefly rose more than 175 points on Wednesday, as the battle in Congress continues over an increase in stimulus checks. Apple stock is once again eyeing a new buy point, while Tesla rallied after analysts’ suspension was bullish.
Apple, Microsoft, and Tesla all Stock IBD Leaderboard. Epam Systems and Intuitive Surgery Appeared In this week The stocks are near the buying area pole. Five below it was Today’s stocks are Tuesday from IBD.
Dow Jones today: stimulus checks
On Wednesday, the Dow Jones Industrial Average rose 0.45%, while the S&P 500 index gained 0.3%. The heavy Nasdaq composite index rose 0.3% in the middle of the day after erasing gains.
Late Tuesday, Senate Majority Leader Mitch McConnell introduced a rival bill, in exchange for the measure the House of Representatives approved Monday. The bill would also increase the size of pay checks to $ 2,000, but would repeal Section 230 of the Communications Etiquette Act. This section provides immunity for internet platforms. The Senate bill will also form a committee to study election fraud. These are the three requests President Donald Trump made when he signed the stimulus package on Sunday night.
Earlier Tuesday evening, Treasury Secretary Stephen Mnuchin chirp That $ 600 stimulus payments will start rolling out Tuesday night. Paper checks will be mailed to us starting Wednesday.
Amidst a stock market rally due to the coronavirus, the tech-heavy Nasdaq rose 43.2% for the year through Tuesday’s close. The S&P 500 is up 15.4%, while the DJIA is up 6.3% so far.
according to Worldometer data tracker, The cumulative number of confirmed coronavirus cases in the United States surpassed 19.9 million on Wednesday. The total deaths associated with the virus have risen to more than 346,000.
The cumulative total of confirmed Covid-19 cases worldwide since the start of the outbreak exceeded 82.4 million on Wednesday, with more than 1.79 million deaths linked to the virus.
Coronavirus stock market rally
November was one of the most important months for the stock market. IBD’s The Big Picture Marked a new bullish trend after the bullish market follow-up day on November 4th. Meanwhile, December sees the stock market at record levels.
Big Tuesday picture He commented, “2020 didn’t just show how Can N in SLIM As a principle of a well-growing equity investment. The surprise recovery from its lows on March 23rd only proved that the pessimists cannot keep stock markets down for long or forever. Investors can sound. “
Investors should continue to use stock market power to buy breakouts. Be patient and wait for strong breakouts rather than chasing the extended stocks. If new hacks work, add more exposure. But if the breakouts start to fail, you can hold back.
In particular, focus on stocks with strong relative strength. Find it using Relative strength line. The RS line measures the stock price performance against the S&P 500. If the stock outperforms the broader market, the RS line tilts upward. If the stock is performing worse than the broad market, the line will indicate a decline.
Stocks to Watch: IBD Long-Term Leaders
Includes stocks to watch Long-term leaders of IBD, Companies with steady earnings growth and price performance. Viva Systems (VEEV) Do you Latest addition to the list, As she tries to recover the 10-week streak. The stocks are approaching 314.09 long points at the base of the cup.
Dow Jones Indexes to Watch: Apple’s eyes are a new buying point
Apple stock is trying to break above 138.08 long cup base bullets, according to MarketSmith Graph analysis. Stocks hit for a short time New buying point On Tuesday before reversing lower. Shares retreated from their early gains, down 0.3% on Wednesday.
In recent weeks, Apple shares have moved above strong entry points at 125.49 and 122.09.
Apple is IBD Leaderboard stock. According to Leaderboard’s comment, “The alternative entry is in the lower half of the base but the RS streak is improving. Apple nearly doubled the breakout in April and it will be difficult to repeat this run. The base is the third stage, which is reason to lower expectations this time.”
The blue-chip giant is the # 1 performing Dow Jones in 2020, with an 83.7% advance as of Tuesday.
Stocks in or near purchase areas: Five Below, Surgical Intuitive, Epam
Shares rose 1.75% on Wednesday.
Intuitive Surgical, a leader in robotic surgery, remains in a 5% buyout zone above 792.64 Entry point In a flat base after the December 22 breakout, according to IBD Market Smith Graph analysis. Buy zone increases 5% to 832.27. The shares fell 0.1% midday Wednesday.
To the upside, the stock RS line reached a new high on the day of the breakout, confirming the strength of the breakout.
Today’s stocks are from IBD, Epam Systems, low buy, at 357.08 in flat base. Shares are up 1% on Wednesday and are just below the buying point.
to me Inventory check for IBDAnd the EPAM stock Shows 95 of 99 complete IBD compound classification. A composite rating – an easy way to identify the highest-growing stocks – is a combination of fundamental and technical metrics to help investors gauge a stock’s strengths.
Tesla competitor Nio continued to recover from the 50-day support level, rising 2.5% after Tuesday’s 5% jump.
Shares are still 20% behind their 52-week high, as a new base continues to form.
IBD Leaderboard Tesla stock rose nearly 3% on Wednesday, on its way to adding to its four-day winning streak after Wedbush analyst Daniel Ives said Tesla is on track to meet its delivery target of 500,000 cars for 2020. “With 180K for the fourth quarter of the streak. In the sand, we believe that due to the underlying strength that we are picking up in China, combined with the delayed push in Europe and the US, 190,000 to 200,000 are within reach, ”Ives wrote in an analyst note.
On December 18, Tesla stock hit a record high of 695 which is nearly 3% from its all-time high. On November 18th, stocks broke above the 466 buy-in points of a double-handle and is over 40% of the buy-point.
Dow Jones Leaders: Microsoft
From among the top Dow Jones StocksSoftware giant Microsoft was down 0.75% on Wednesday, as stocks continued to approach 228.22 buy points.
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