Thursday, September 20, 2018

Dow Jones Industrials Hit Record High As NVIDIA Trades Down to Support

Well that took long enough.
We've been babbling about the S&P 500 minimum target of 3000 (and maybe as much as 3300) and how if that forecast was to be manifested in reality the DJIA would have to clear the January highs and, well here we are, with the INDU joining the Nasdaq and S&P in their earlier ramp to record highs.
We'll be back with more after the close but for right now here is Investor's Business Daily to memorialize the moment.

From IBD, 10:18 AM ET:

Dow Hits Record High, But This IBD 50 Stock Nears Support Level
The stock market surged higher early Thursday as the Dow Jones industrial average hit a fresh record high. IBD 50 stock Nvidia (NVDA) sold off Thursday and was nearing a potential support area. Meanwhile, former hot stock Micron Technology (MU) will report earnings after the stock market close. (For updates on this story and other market coverage, visit the Stock Market Today.)

The Dow Jones industrial average and tech-heavy Nasdaq advanced about 0.8% apiece. The S&P 500 followed up with a 0.6% gain.

Among the Dow stocks, Apple (AAPL) was one of the top gainers with a 1.6% rise. Shares were on pace to extend a win streak to three trading sessions. Apple stock was about 4% off its recent high price.

Meanwhile, Caterpillar (CAT) rose another 2% Thursday. Shares were up nearly 8% this week, reclaiming their 200-day moving average line. A new base was forming....MORE 
S&P 2,924.86 up 16.91(+0.58%)
Dow 30 26,626.77 up 221.01(+0.84%