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Home Business Dow Jones Rallies As Stimulus-Check Battle Continues; Tesla Jumps On Bullish Comments

Dow Jones Rallies As Stimulus-Check Battle Continues; Tesla Jumps On Bullish Comments


The #Dow #Jones #Industrial #Average briefly rallied over 175 points #Wednesday, as the #Congressional battle over increased stimulus checks continues. #Apple stock is again eyeing its new buy point, while #Tesla advanced on bullish analyst commentary.




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#Among the #Dow #Jones leaders, #Apple (AAPL) fell 0.1%, while #Microsoft (MSFT) moved down 0.75% in today’s stock market.

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#Tesla (TSLA) looked to extend a win streak to five sessions, racing 2.5% higher in early trade. #Chinese rival #Nio (NIO) rose 2.5%, adding to #Tuesday’s rebound from a critical support level.

#Stocks in or near buy zones in the current stock market rally are #Five #Below (FIVE), #Intuitive #Surgical (ISRG) and #Epam #Systems (EPAM).

#Apple, #Microsoft and #Tesla are all IBD #Leaderboard stocks. #Epam #Systems and #Intuitive #Surgical were featured in this week’s #Stocks #Near A #Buy #Zone column. #Five #Below was #Tuesday’s IBD #Stock #Of The #Day.

#Dow #Jones #Today: #Stimulus #Checks

#On #Wednesday, the #Dow #Jones #Industrial #Average rallied 0.5%, while the S&P 500 was up 0.3%. The tech-heavy #Nasdaq composite moved up 0.4% in midday trade after trimming gains.

#Late #Tuesday, #Senate #Majority #Leader #Mitch #McConnell introduced a competing bill, versus the measure approved by the #House on #Monday. #Mitchell’s bill would also increase the size of the payment checks to $2,000, but would repeal #Section 230 of the #Communications #Decency #Act. #That section provides immunity to online platforms. The #Senate bill would also set up a commission to study election fraud. These are the three requests that #President #Donald #Trump made when he signed the stimulus package #Sunday night.

#Earlier #Tuesday evening, #Treasury #Secretary #Steven #Mnuchin tweeted that $600 stimulus payments would start going out #Tuesday night. #Paper checks will be mailed starting #Wednesday.

#Among exchange traded funds, #Innovator IBD 50 (FFTY) traded 1.4% higher #Wednesday. The #Nasdaq 100-linked #Invesco QQQ #Trust ETF (QQQ) moved up a fraction. #Meanwhile, the SPDR S&P 500 ETF (SPY) gained 0.3%.

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#Amid the coronavirus stock market rally, the tech-heavy #Nasdaq is up 43.2% for the year through #Tuesday’s close. The S&P 500 is up 15.4%, while the DJIA is up 6.3% year to date.

#Coronavirus #Updates

#According to the #Worldometer data tracker, the cumulative number of confirmed coronavirus cases in the U.S. topped 19.9 million on #Wednesday. #Total virus-related deaths rose past 346,000.

The cumulative total of worldwide #Covid-19 cases confirmed since the start of the outbreak topped 82.4 million #Wednesday, with more than 1.79 million virus-related deaths.

#Coronavirus #Stock #Market #Rally

#November was a key month for the stock market. IBD’s The #Big #Picture flagged a new uptrend following the market’s bullish follow-through day on #Nov. 4. #Meanwhile, #December sees the stock market at record highs.

#Tuesday’s #Big #Picture commented, “The year 2020 illustrated not only how the N in CAN SLIM serves as a tenet of good growth stock investing. The surprising rebound off the #March 23 lows only proved that pessimists cannot hold the equity markets down for long or for good for CAN SLIM investors.”

#Investors should continue to use the stock market’s strength to buy breakouts. #Be patient and wait for powerful breakouts instead of chasing extended stocks. #If the new breakouts work, then add more exposure. #But if breakouts start to fail, then you can back away.

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#In particular, focus on stocks with strong relative strength. #Find them by using the relative strength line. The RS line measures a stock’s price performance vs. the S&P 500. #If the stock is outperforming the broader market, then the RS line angles upward. #If a stock is performing worse than the broad market, then the line will point lower.

#Stocks #To #Watch: IBD #Long-Term #Leaders

#Stocks to watch include IBD #Long-Term #Leaders, companies with stable earnings growth and price performance. #Veeva #Systems (VEEV) is the latest addition to the list, as it tries to regain its 10-week line. #Shares are approaching a 314.09 buy point in a cup base.


#Stock #Market ETF #Strategy #And #How #To #Invest


#Dow #Jones #Stocks #To #Watch: #Apple #Eyes #New #Buy #Point

#Apple stock is trying to break out above a cup base’s 138.08 buy point, according to #MarketSmith chart analysis. #Shares briefly hit the new buy point on #Tuesday before reversing lower. #Shares reversed from early gains to fall 0.1% #Wednesday.

#In recent weeks, #Apple shares have moved above aggressive entries at 125.49 and 122.09.

#Apple is an IBD #Leaderboard stock. #Per #Leaderboard commentary, “The alternate entry is in the lower half of the base but the RS line is improving. #Apple nearly doubled from its breakout in #April and it will be tough to replicate that run. The base is third stage, which is a reason to have lower expectations this time around.”

The blue-chip giant is the #No. 1-performing #Dow #Jones stock for 2020, with an 83.7% advance through #Tuesday.

#Stocks #In #Or #Near #Buy #Zones: #Five #Below, #Intuitive #Surgical, #Epam

#Tuesday’s IBD #Stock #Of The #Day, #Five #Below, is in the 5% buy zone past a 168.07 buy point in a rare ascending base. The 5% buy area goes up to 176.47.

#Shares rallied 1.75% #Wednesday.

#Robotic surgery leader #Intuitive #Surgical remains in the 5% buy zone above a 792.64 entry point in a flat base following a #Dec. 22 breakout, according to IBD #MarketSmith chart analysis. The 5% buy zone goes up to 832.27. #Shares slipped 0.1% midday #Wednesday.

#Bullishly, the stock’s RS line hit a new high on the breakout day, confirming the strength of the breakout.

#Thursday’s IBD #Stock #Of The #Day, #Epam #Systems, is right below a 357.08 buy point in a flat base. #Shares gained 1% #Wednesday and are just below the buy point.

#According to IBD #Stock #Checkup, EPAM stock shows a 95 out of a perfect 99 IBD #Composite #Rating. The #Composite #Rating — an easy way to identify top growth stocks — is a blend of key fundamental and technical metrics to help investors gauge a stock’s strengths.


IBD #Live: A #New #Tool #For #Daily #Stock #Market #Analysis


#Nio #Stock

#Tesla rival #Nio continued to rebound from its 50-day support level, moving up 2.5% following #Tuesday’s 5% jump.

#Shares remain about 20% off their 52-week high, as a new base continues to take shape.

#Tesla #Stock

IBD #Leaderboard stock #Tesla rallied 2.5% #Wednesday morning, on pace to add to a four-day win streak after #Wedbush analyst #Daniel #Ives said #Tesla is on track to hit the delivery target of 500,000 vehicles for 2020. “#With 180k for 4Q the line in the sand, we believe given the underlying strength we are picking up in #China, as well as a late push in #Europe and the US, that 190k-200k is well within reach,” #Ives wrote in an analyst note.

#On #Dec. 18, #Tesla stock hit a record high at 695 and is about 3% off that all-time high. #On #Nov. 18, shares broke out above a 466 buy point in a cup with handle and are more than 40% from the buy point.

#Dow #Jones #Leaders: #Microsoft

#Among the top #Dow #Jones stocks, software giant #Microsoft moved down 0.75% #Wednesday, as shares continue to approach a 228.22 buy point.

#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

#How #To #Research #Growth #Stocks: #Why #This IBD #Tool #Simplifies The #Search #For #Top #Stocks





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##Dow ##Jones ##Rallies ##StimulusCheck ##Battle ##Continues ##Tesla ##Jumps ##Bullish ##Comments

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