Dow Jones jumps 225 points on new stimulus hopes; Xilinx climbs 16% on AMD chats

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The Dow Jones Industrial Average has amassed over 225 points on new hopes for the coronavirus revival, as the current stock market rally continues. Apple and Tesla’s Dow Jones shares rose, while Zoom Video jumped 3%. Xilinx soared to 16% on news of acquisition negotiations with Advanced Micro Devices.



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Dow Jones Leaders Apple (AAPL) and Microsoft (MSFT) gained 0.9% and 1.8% respectively in the current stock market.Stocks moving early Thursday include Advanced micro-systems (AMD), NXP Semiconductor (NXPI), Xilinx (XLNX) and Video zoom (ZM). Meanwhile, Tesla (TSLA) advanced more than 1%, on pace to extend a winning streak to three trading sessions.

Costco (COST) and pool (POOL) are in or near new shopping areas.

Microsoft and Tesla are both IBD stocks.

Dow Jones today: hopes of stimulation

The Dow Jones Industrial Average rose 0.9% on Friday at noon. The S&P 500 rose 1%, while the Nasdaq composite gained 1.2%.

Snapshot of the US Stock Market Today

Index symbol Price Loss of profit % Change
Dow Jones (0DJIA) 28482,89 +57,38 +0.20
S&P 500 (0S and P5) 3462,61 +15,78 +0,46
Nasdaq (0NDQC) 11520,81 +99,83 +0,87
Russell 2000 (Etc.) 162,17 +0,31 +0,19
IBD 50 (FFTY) 39,20 +0,46 +1,19
Last updated: 10:42 ET 10/9/2020

Late Thursday, Axios reported that President Trump had phoned Majority House Leader Kevin McCarthy (R-Calif.), And said he wanted a “big deal” after all.

Among exchange-traded funds, Innovator IBD 50 (FFTY) climbed 1.2% on Friday. The Invesco QQQ Trust ETF (QQQ) linked to the Nasdaq 100 traded up 0.8%. At the same time, the SPDR S&P 500 ETF (SPY) gained 0.5%.

Amid the coronavirus stock market rally, the high-tech Nasdaq rose 27.2% for the year through Thursday’s close. Meanwhile, the S&P 500 is up 6.6%, while the Dow Jones is down 0.4% year-to-date, through to the October 8 close.

Coronavirus Updates

According to Worldometer’s data tracking, the cumulative number of confirmed coronavirus cases in the United States exceeded 7.8 million on Friday. The total number of deaths linked to the virus has exceeded 217,000.

The cumulative total of confirmed Covid-19 cases since the start of the epidemic worldwide exceeded 36.8 million on Friday, with more than 1.06 million deaths linked to the virus.

Coronavirus stock market rally

According to IBD’s The Big Picture, the coronavirus stock market rally attempts to ignore the recent institutional sell-off, as major stock indexes return to key levels.

Thursday’s Big Picture reported that, “After last week’s bullish action, the stock rally remains in a confirmed, albeit slow, bullish trend. The Dow Jones triggered a tracking day on September 30. Since then, all three major indices have made modest progress. ”

After the recent bullish signal from the Dow, investors are allowed to start buying new breakout stocks. The best candidates are those who held up the best during recent market weakness. Keep a close eye on stocks with strong lines of relative strength. These stock ideas could become stock market leaders.

Use MarketSmith features like RS Line Blue Dot to easily spot these candidates for action. The RS line blue point is assigned to stocks whose RS lines reach new highs as the action is basing or bursting.

Stocks to watch include IBD Long-Term Leaders, companies with stable earnings growth and price performance.


ETF stock market strategy and how to invest in the new uptrend


In-motion actions: AMD, Xilinx, Zoom

AMD slipped 2%, while Xilinx climbed 16% after the Wall Street Journal reported that Advanced Micro Devices is in talks to buy Xilinx in a deal that could be valued at over $ 30 billion of dollars.

AMD stock is rising on the right side of a potential new base, but there is no clear new buy point yet. Meanwhile, Xilinx bursts above a 112.27 entry into a flat base.

Zoom Video was up nearly 4% after Mizuho launched the action with a buy rating and a price target of 550.

Zoom stock is trading below 10% of its 52 week high. Stocks are also significantly above their 50-day moving average line.


IBD Live: a new tool for daily stock market analysis


Stock market profits: NXP Semiconductor

NXP Semiconductor jumped 4% after reporting strong preliminary third quarter revenue and improving its outlook for the third quarter.

NXP stock ended Thursday in the buy range above a buy point of 133.04 in a handle mug. The actions are now extended.

Stock de Tesla

Tesla stock rose nearly 2% in morning trading Friday, on pace to extend a three-session winning streak.

Stocks sought to add to Thursday’s 0.6% gain and are around 13% off their 52 week high.

Stocks near purchasing areas: Costco, Pool

Costco erupted above an entry of 363.77 in a flat base Thursday. Stocks added 0.75% in midday trading.

Late Wednesday, the warehouse retailer reported better-than-expected monthly sales.

According to the IBD Stock Checkup, COST stock has a strong 93 out of a best IBD composite rating of 99. Composite rating – an easy way to identify top growth stocks – is a mix of key fundamental and technical metrics for help investors assess the strengths of a stock.

Thursday’s IBD stock, Pool, is in a buy range above a buy point of 338.98 in a handle cup. The 5% buy area rises to 355.93. The shares were up 2% in morning trading.


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Dow Jones Executives: Apple, Microsoft

Among the major stocks in the Dow Jones, Apple rose 0.9% early Friday, as the stock tries to bounce back from its key 50-day support level, according to MarketSmith’s chart analysis.

Apple stock is about 60% above a buy point of 72.15 in a mug base with handle. The blue chip giant is the second Dow Jones title for 2020, up 56.6% through Thursday’s close. Recent addition of the Dow Jones 30 Salesforce.com (CRM) is number one with a 59.4% lead since the start of the year.

The software leader Microsoft rose 1.8% on Friday as the stock continues its battle to regain its 50-day line.

On September 8, stocks closed below their 50-day support level for the first time since the May 5 breakout above the 180.10 buy point of a handle cup.

Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen to learn more about growth stocks and the Dow Jones Industrial Average.

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