Wednesday, December 26, 2018

"Stock Market On Fire As Dow Soars 1,086 Points, But Will The Rally Last?"

I was going to get a comment from The Fly but when I looked in on him he was murmuring something about a "beautifully breasted bull"  and well, I thought he probably didn't want any company.
Or, more terrifyingly, that he did.

So, from Investor's Business Daily:
4:27 PM ET
Christmas came late on Wall Street as the stock market stormed higher to boost the Dow Jones industrial average, S&P 500 and Nasdaq to 5% or bigger leaps.

Surging tech stocks boosted the Nasdaq to a 5.8% vault, while the S&P 500 and Dow jumped 5% each. Small caps took part in the big advance with the Russell 2000 also rallying 5%. Volume was mixed, running higher on the Nasdaq and slightly lower on the NYSE, according to preliminary data.
All 30 component stocks in the Dow Jones industrial average soared Wednesday, led by 7% moves from Nike (NKE) and Apple (AAPL). Other blue chips scoring gains of 6% or more included Microsoft (MSFT), Boeing (BA), Visa (V) and Home Depot (HD).

Apple snapped a four-session slide with its 7% bounce in heavy trade. Shares remain 19% below the 200-day moving average and 32% off an Oct. 3 peak. It will take some time before a new potential buy opportunity emerges. Apple's midrange iPhone XR is attracting more former Android users thus far than the iPhone X did last year, according to a new survey.

Apple is the subject of many analysts' bold predictions for 2019 — including a tie-up with or buy of Tesla (TSLA) or Sony's (SNE) Sony Pictures movie studio.
Microsoft rose 6.8%, also halting a four-session decline. It's now the biggest stock by market cap. Shares had been forming a flat base before the latest downturn. Microsoft is 13% off its Oct. 3 high.

Retailers Rally In Stock Market Today
Retail, apparel makers and car manufacturers led the upside among sector gainers in the stock market today. Internet retail, the top group, surged more than 8%. (AMZN), Shutterfly (SFLY), Etsy (ETSY) and MercadoLibre (MELI), popped more than 8% apiece....MORE
And while I try to wash my eyes, a special bonus IBD:

6:53 PM ET 
Dow Jones Futures: After Biggest Stock Market Gain Since 2009, Watch These 5 Top Techs