Closing Analysis

Stocks Rise on News that U.S./China Trade Talks to Resume

Closing Technical Market Analysis for Thu September 5th 2019

The stock market had another positive session on Thursday as indices opened to the upside. Once news that the U.S. and China were set to resume trade talks penetrated the market, they reached session highs midmorning. They pulled back slightly, and then took off, moving across the day, coiling as they went and staying just above resistance the entire day, until the last 20 minutes when they pulled back slightly, popped, and then rolled over into the close to close with another day of major gains.  

Net on the day, the Dow was up 372.68 at 26,728.15. The S&P 500 was up 38.22 at 2976.00, less than 10 points off the high. The Nasdaq 100 was up 143.29 at 7862.54, 17 points off the high.

Advance-declines were 2 to 1 positive on the New York Stock Exchange and almost 3 to 1 positive on the Nasdaq. Up/down volume was more than 16 to 1 positive of New York, total volume 3.7 billion shares traded. The Nasdaq traded 2.4 billion and had a 2 to 1 positive volume ratio. board was very green on Thursday. To the upside, point-plus gainers included, Inc. (AMZN) was up 40.10 to 1840.72, Alphabet Inc. (GOOG) up 29.97 to 1211.38, Apple Inc. (AAPL) 4.09 to 213.28, Facebook, Inc. (FB) 3.76 to 190.90, and Netflix, Inc. (NFLX) 1.73 to 293.25.

Tesla, Inc. (TSLA) jumped 8.90 to 229.58, NVIDIA Corporation (NVDA) snapped back 10.98 to 179.74, and Intuitive Surgical, Inc. (ISRG) ran 11.95 to 508.17. Microsoft Corporation (MSFT) was up 2.42 to 140.05, Intel Corporation (INTC) 1.18 to 50.10, and Baidu, Inc. (BIDU) gained 1.58 to 104.12.

Other stocks to the upside included Copart, Inc. (CPRT) up 4.98 to 80.61, InMode Ltd. (INMD) up 1.45 to 26.72, Cognex Corporation (CGNX) 2.43 to 47.15, Delphi Technologies PLC (DLPH) 1.77 to 14.80, AeroVironment, Inc. (AVAV) 2.57 to 55.33, Inc. (STMP) 3.44 to 69.67, Twitter, Inc. (TWTR) 1.94 to 45.30, Keysight Technologies, Inc. (KEYS) 3.46 to 99.30, Cheniere Energy, Inc. (LNG) 1.75 to 62.15, Zealand Pharma A/S (ZEAL) 1.51 to 23.46, Carvana Co. (CVNA) 2.83 to 84.61, and XPO Logistics, Inc. (XPO) 3.37 to 71.83 were among many other gainers.

To the downside, point-plus losers included Ciena Corporation (CIEN) was down 1.58 to 39.62, Match Group, Inc. (MTCH) down 3.90 to 81.74, and Twilio Inc. (TWLO) 2.59 to 129.73.

Checking percent-gain leaderboard, California Resources Corporation (CRC) gained 89 cents, or 10%, to 9.88, on 3.9 million shares. American Axle & Manufacturing Holdings, Inc. (AXL) eked out 90 cents, or 14%, to 7.21, on 4.3 million shares.

Cloudera, Inc. (CLDR) popped 1.07, or 15%, to 8.28, on 51 million shares.

Edesa Biotech, Inc. (EDSA) bounced 2.07, or 53%, to 5.98, on 10 million shares, or 61 times more volume than usual. G-III Apparel Group, Ltd. (GIII) advanced 5.00, or 26 1/2%, to 23.84, on 4.45 million shares. Global Blood Therapeutics, Inc. (GBT) jumped 5.17, or 11%, to 52.66, on 3.1 million shares. Tenneco Inc. (TEN) climbed 1.55, or 18%, to 10.32, on 2 million shares. Adient plc (ADNT) gained 3.33, or 16%, to 24.38, on 3 million shares. SecureWorks Corp. (SCWX) snapped back 1.80, or 15%, to 14.04. Bitauto Holdings Limited (BITA) ramped 1.33, or 11%, to 13.04, on 1.3 million shares.

Among other gainers, Palo Alto Networks, Inc. (PANW) was up 11.56 to 212.05, Proofpoint, Inc. (PFPT) up 4.64 to 127.81, and Beyond Meat, Inc. (BYND) 2.71 to 160.97.

Let’s see what happens tomorrow.

Good Trading! 


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