Inventories rise as Boeing and Facebook climb


Shares picked up again on Thursday, Facebook (FB) and Boeing (BA) climbed higher and the S & P 500 and Nasdaq sought to extend their six-day trading.


The Nasdaq rose 0.2%, the S & P 500 0.3% early in the session. The Dow Jones Industrial Average started off poorly, then rose 0.5%, with a new issue. Dow (DOW), Boeing and Walt Disney (DIS) do most of the work. Early data indicated a trading volume below Wednesday's levels on the NYSE and Nasdaq.

Constellation Brands (STZ) benefited from a good recovery of its fourth quarter results report. Facebook has soared more than 1% on an analyst upgrade. You're here (TSLA) slipped nearly 10% after reporting disappointing production figures in the first quarter. The shaving stock was under pressure soon after heading Wednesday's session. Micron Technology (MU) fell on a downgrade analyst.

Among Dow Jones shares, Walt Disney rose 1.1% after Goldman Sachs set a target price of 142 on the stock. Boeing climbed more than 2 percent, even as investigators in Ethiopia discovered that the manufacturer's approved emergency procedures were approved by the manufacturer in the 737 Max crash with Ethiopia Airlines in March.

Facebook led the Nasdaq 100. Tesla experienced the most difficult drop among the Nasdaq 100 shares. Tradeweb Markets (TW) was scheduled to begin trading on Thursday, the third-largest IPO on the market in less than a week.

S & P 500, Nasdaq targeting six

The S & P 500 ended Wednesday's come-and-go session, up 1.4% up here for the week, sitting on a five-day rally and 2.3% below his record reached in September. The Nasdaq also enjoys a five-day lead, recording a 2.2% gain for the week and now standing at less than 3% of its peak reached in August. The Dow Jones Industrial Average has risen in four of the last five sessions, giving it a 1.1% lead for the week up to Wednesday and 2.8% below its record high of 39; October.

(For a more detailed analysis of the current stock market and its upward trend confirmed, study the situation as a whole.)

Facebook Stock reached the price target of 200

Facebook climbed 2% – its highest level since August – after Guggenheim upgraded the title to buy from neutral. The note placed a target price of 200 on the stock, up 175 and a premium of 16% over Wednesday's closing stock price.

The report says Facebook's growth has remained solid, particularly on its Instagram platform, despite growing concerns over data privacy. Consumers were becoming more comfortable with the idea of ​​data security risks.

Facebook shares have seen dramatic growth in the last nine weeks, despite the company's constant criticism and criticism. The stock of Facebook is up 32% since the beginning of the year, far exceeding the market, as well as its FANG counterparts such as (AMZN) and Google's parent Alphabet (GOOGL).

The title is rising on the right side of an eight month consolidation, but has been too impatient to build a valid base. Instead, it has passed two brief consolidations since the beginning of March. The stock has returned above key technical support levels.

Tesla Dives On Deliveries Lack of money

Tesla shares collapsed 8% after the company reported a sharp drop in shipments and production in the first quarter. The electric car maker maintained its annual target of 360,000 to 400,000 vehicles in 2019. Tesla shares were trading on a rebound, up nearly 15% on Wednesday from the March 25th low. The stock is 40% below a peak in December.

Dow IPO Soars; Launch of Tradeweb's Initial Public Offering

Tradeweb Markets is expected to begin Thursday after reaching 27, which is above the expected range on Wednesday. The online bond trading platform is controlled by Blackstone Group (BX), and also counts JPMorgan and Goldman Sachs (GS) among its owners. The Office received orders for 17 times the number of shares it intends to make available during the offer. The course of action on 27 values ​​the company at nearly $ 6 billion.

The new Dow number rose nearly 4% Thursday. Shares began trading on Tuesday, replacing their parent company DowDupont (DWDP) on the Dow Jones Industrial Average. On Tuesday, BMO Capital began hedging the security with a purchase note and a price target of 64, almost 13% higher than Wednesday's closing price. Dow shares rose 0.4% in pre-market trading.

Carpool Innovator Lyft (LYFT) was released last Friday as part of an IPO that raised approximately $ 2.34 billion and valued the company at nearly $ 22 billion. Shares briefly jumped 22% on their first day of trading, and had returned about 3% below their IPO price on Wednesday. Lyft's shares gained 2% at Thursday's opening.

It's always a good idea to sit down and watch a new IPO. Study and learn to identify the basics of fast-training IPOs, which are often the first valuable buying opportunities presented by the most successful actions.

Shanghai Rally Continues

The Shanghai Composite jumped 0.9% to grab a fifth straight lead on Thursday. The Shanghai and Hong Kong stock exchanges have embarked on a long weekend. The gain left the index up 5% for the week. It has emerged from a consolidation of three weeks and a peak of 12 months. The Direxion Daily CSI 300 China A Bull Action 2X (CHAU) jumped 1.8% of pre-market trade. the The FTSE China Bull 3X Daily Direxion (YINN) gained 1.1%.

The Hang Seng Hong Kong index fell 0.2% on Thursday. The index's left up 3% for the week and at its highest mark since June. In Japan, the Tokyo Nikkei 225 saw a very slight rise.

Technical support over the oil

Oil prices showed resistance, heading for a fifth consecutive weekly advance. This occurred despite Wednesday's data showing a surprise build of US inventories. West Texas Intermediate eased from 0.1% early Thursday to $ 62.37 a barrel. It has passed the $ 62 mark as well as the 200-day moving average. WTI has exceeded the 200-day mark this week for the first time since October. The WTI has not grown five weeks since the fourth quarter of 2017. The Brent crude benchmark in Europe has traded 0.2% to $ 69.45.

You can find Alan R. Elliott on Twitter @IBD_Aelliott.

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