The Nasdaq composite led the way in afternoon trading Friday, helped by a strong showing from semiconductor stocks. Top stocks today in the Dow Jones included Boeing (BA) stock, Microsoft (MSFT) stock and Intel (INTC) stock. Shares of Boeing bounced back on hopes for a quick 737 Max software fix.
The Nasdaq was up 0.9%, and the Dow Jones industrials and S&P 500 added about 0.6% each. Volume on the NYSE and Nasdaq was heavy due to options expiration. (For updates on this story and other market coverage, visit the Stock Market Today page.)
Top Stocks Today
Microsoft, featured in Thursday’s 5 Best Tech Stocks To Buy And Watch Now, hit an all-time high, rising 2%. Shares of Intel were up 2% to 54.54. It’s in buy range from a 54.20 buy point of a cup-with-handle base but volume has been weak thus far.
Other top stocks today included Ulta Beauty (ULTA) and Broadcom (AVGO). Shares of Ulta soared 9% after the company reported better-than-expected earnings and sales. Same-store sales jumped 9.4%, helped by a new cosmetic line from Kylie Jenner. Ulta gapped out of a first-stage base, rising 9%.
Chip designer Broadcom also cleared a first-stage base on strong earnings, rising 8%. Broadcom’s strength fueled a big rally in semiconductor stocks. The Philadelphia Semiconductor index was up 2.9%. VanEck Vectors Semiconductor ETF (SMH) picked up 2.8% to 106.38. It’s trying to clear a cup-with-handle base with a 106.37 buy point.
Adobe, Tesla Pressured
Tesla (TSLA) stock slumped nearly 5%. Investors were underwhelmed after the company introduced its Model Y crossover SUV. An Accumulation/Distribution Rating of E points toward heavy institutional selling in recent weeks.
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