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Leading chip makers have sold well in stocks today, but major indices have held up well. Strong weekly increases in the S & P 500 (+ 1%) and the Nasdaq composite (+ 1.6%) more than offset the weekly decline of less than 0.3% in the Dow Jones Industrial Average.
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Intel (INTC) – reported a 10% drop in revenue after a 2% rise in first quarter earnings to 89 cents a share versus zero sales growth – well below its rising moving average.
The titan of Silicon Valley immediately gave up gains in several months.
Apple (AAPL), also in the Dow Jones 30-share industry, edged down 0.5% while posting a fourth straight week.
At 204:30, the digital and digital services innovator remains in the buying range after clearing a good 197.79 purchase point in a large first-step tumbler with handle.
Once an action has broken out, it is better to buy stock before it advances by more than 5% after the correct entry. Entering stocks at a price higher than the 5% Pursuit Zone exposes an investor to potential potential drawdown and rapid paper loss.
Walt Disney (DIS) jumped more than 5% for the week and recorded a fifth consecutive weekly gain.
Shares have now jumped 20% after 115.90 in a looped saucer. The significant gain occurred in the space of just three weeks, justifying a special rule of IBD portfolio management: hold the stock for at least eight weeks during a confirmed market trend.
Holding the best stock for at least eight weeks allows holders to give these short-term stock market leaders the chance to become a giant winner and a potential long-term asset.
The multimedia and entertainment giant recently unveiled Disney +'s success in the on-demand video entertainment market. The reports show strong box office sales worldwide for the first weekend of its Avengers: Endgame series and the popular superhero series.
Look at Disney's composite rating; Will it increase further?
Disney has an improved and decent composite rating of 88 on a scale of 1 (bleak) to 99 (dynamite), according to IBD Stock Checkup.
Small caps outperformed not only on Friday but also throughout the week. The S & P SmallCap 600 rose nearly 0.9% on Friday, a 1% advance per week. The innovative IBD 50 (FFTY) rose by 1.8% for the week. At 34:55, the ETF has extended its gain since 1 January to 25%.
The US economy is growing
The initial market reaction to a preliminary rise of 3.2% of US GDP in the first quarter was moderate, but it also kept bears away. This increase represents an acceleration from the 2.2% annualized gain recorded in Q4 last year.
"This blocky GDP report shows that President Donald J. Trump's policies release the vitality of the US economy, thus fulfilling the president's promise of economic growth of 3% and benefiting workers. Americans in the form of better jobs and higher wages, "said Commerce Secretary Wilbur Ross said.
The 3.2% increase is the highest for the first quarter of all fiscal years since 2015. It exceeded the 2.3% forecast by Econoday and exceeded the highest estimate of 2.8%. .
On the decline, World Wrestling Entertainment (WWE) fell for a third consecutive session, losing 16% in the process. The stock is trying to stop the slide at its 200-day moving average. The company and former IBD 50 stocks recorded an adjusted net loss of 11 cents per share in the first quarter on a 3% drop in revenues, to $ 182 million, according to data from IBD's sister company, William O Neil + Co.
Please follow Chung on Twitter at @SaitoChung and @IBD_DChung to find out more about the most important values and graph analysis.
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