Dow Jones romps thanks to Disney and these 4 key actions

The Dow Jones Industrial Average has led a broad recovery in the stock market, in part due to significant gains Disney (DIS), Dow Inc. (Dow) and three other Dow shares.


The Dow Jones Industrial Average rose 1%, the S & P 500 0.7% and the Nasdaq 0.5%. Small caps slightly lagged, with the Russell 2000 up 0.4%. Preliminary data showed a mixed volume, recording a rise on the NYSE but a little lower on the Nasdaq compared to Thursday.

For the week, the S & P 500 and Nasdaq rose by about 0.5% each, while the Dow Jones fell 0.1%, well above the lows of the week. The S & P 500 and Nasdaq are only 1% from their respective peaks of September and August. The Dow Jones is 2% below its peak on October 3rd.

Disney was the big winner of the Dow Jones, registering an increase of 11.5% to reach a record in terms of intense trade. The media and entertainment giant has launched its Disney + video streaming service at $ 6.99 per month.

Disney + is widely considered a fierce competitor Netflix (NFLX), which fell 4.5% to slide below their 50-day moving average. Netflix, which publishes its results Tuesday, saw its volume increase twice as fast as normal.

Dow Inc., up 6%, also boosted the Dow Jones index. The title has been rather volatile since its debut on April 2nd. JP Morgan (JPM) weighed nearly 5%, while Goldman Sachs (GS) and Boeing (BA) added more than 2.5% each.

& # 39; Amazon of Africa & # 39; debuts

In the new IPOs, Jumia Technologies (JMIA) jumped 74% on the first day of trading. The so-called Amazon of Africa raised $ 196 million.

The biggest winners in the stock market include energy, banking and transportation. But titles related to the medical sector, steel and cinema (led by Netflix) have fallen behind.

US oil and gas explorers jumped 5%, reaching their highest level in four months. West Texas Intermediate crude prices rose 0.3% to $ 63.79 per barrel.

Anadarko Petroleum (APC) invested 32% in the news Chevron (CLC) will acquire the company for $ 33 billion. Chevron slid 5%, falling below its 50-day mark for the first time since the end of January.

Other moving oil explorers included Pioneer natural resources (PXD) and Persil Energy (PE), which jumped by almost 12% per piece.

Among the sector ETFs, SPDR S & P (XOP) 's exploration and production grew by more than 3% at their best close since December 4th. Shares rose 36% from their December low but remain at 28% from their October high.

Overpressures on stocks IBD 50

Fortinet (FTNT) dominated the IBD 50 with a jump of 3.4%, extending its gains after a purchase point of 88.70 cups with handle cleared Wednesday. The shares remain near the top of a range of purchase from the entry. Analysts made optimistic comments Wednesday at the annual Fortinet User Conference.

Among the other winners IBD 50, the natural gas carrier Tallgrass Energy (TGE) and chip designer Monolithic feeding systems (MPWR) increased by about 2% each.

On the decline, PRA Health Sciences (PRAH) slipped more than 2% to move closer to its 200-day line for the first time since mid-January. The stock worked on a cup with handle with a potential purchase point of 115.60.

The innovative IBD 50 ETF (FFTY) edged up 0.4% to mark its fifth increase in the last six sessions.

Please follow Gondo on Twitter at @IBD_NGondo To learn more about growth stocks, ETFs and how to invest in CAN SLIM quality market leaders.


IBD 50 stocks to watch: the leader in the high-tech sector aims for a point of purchase

Discover the stock of IBD day

Do you want weekly advice on investing? Receive the bulletin "How to invest"

O Neil Portfolio Manager: The major bull market is far from over

Discover the next big winning stock with MarketSmith

Source link