Stock Market Today

The Nasdaq led a bounce-back rally Wednesday, as Netflix (NFLX) made its most bullish move in many weeks.

XAutoplay: On | OffThe Nasdaq climbed 1.1% and the S&P 500 0.5%, with both adding gains in afternoon trading. The S&P 500 climbed above the 50-day moving average, a favorable print on its chart. The Nasdaq had already reclaimed its 50-day average in Tuesday's positive reversal.

Netflix, one of the largest Nasdaq components, jumped 3% as it rallied from a pullback to the 50-day moving average. That price area coincides with a 166.97 buy point, although Netflix gapped above that entry July 18 on strong earnings.

Netflix is a stock on IBD Leaderboard, which is outperforming the S&P 500 this month and this year.

But the Dow Jones industrial average lagged with a 0.1% gain as some Dow components sat out the rally. Procter & Gamble (PG) fell just below its 92.10 buy point. Travelers Cos. (TRV) has slid to its 200-day moving average as heavy floods in Texas threaten to cut into profits. General Electric (GE) fell to a two-year low.

Volume was higher on the Nasdaq and lower on the NYSE compared with the same time Tuesday. Winners led losers by 3-2 on the Nasdaq and by 7-5 on the Nasdaq.

A mix of leisure, construction, technology and auto-related industry groups showed gains of 1.5% to 5.5%.

Despite the market's surge, there were few breakouts among top-rated stocks.

AeroVironment (AVAV) gapped above the 40.20 buy point of a flat base in huge volume. The maker of drones for military and commercial use late Tuesday reported results for the July-ended quarter that beat expectations despite a loss for the quarter. Sales rose 21% to $43.8 million.

Landstar Systems (LSTR) broke out of a long flat base with a 90.90 buy point in active trading. The trucking and logistics company is turning itself around after a few quarters of declining profits and sales. EPS growth accelerated 7%, 12% and 17% in the most recent quarters as sales rose 5%, 10% and 12%.

Workday (WDAY) rose to a 52-week high in more than double its average volume. The stock is trying to move above resistance around the 106 price level. The company reports earnings after the close of today's trading.

In the IBD 50, Constellation Brands (STZ) is trying to break out past a 199.99 buy point, but today's price and volume are lackluster.

Harvey To Hit U.S. Auto Sales — But There's A Silver Lining

Let's block ads!(Why?)

Read Again Stock Market Today : http://ift.tt/2wJNEEA

Let's block ads! (Why?)