Megacaps and M&A push major averages higher
- Stocks are rallying, led by a rebound in the megacap stocks and an
enthusiasm for deals.
- The S&P is up 1.5%, the Nasdaq is rising 1.5% and the Dow is up 1.5%.
- Apple is up 1.9% following its first positive week for September.
Shares are moving further above the 50-day SMA, which it had slipped
below
last week.
- Amazon is also gaining as it confirmed its Prime Day would be held
Oct. 13-14. Baird says this morning that Amazon shares are still at
attractive buying levels.
- Energy (NYSEARCA:XLE) is bouncing back after posting a loss of more
than 10% last week. A Devon Energy deal and an upgrade of Chevron are
helping sentiment in the beaten-down sector.
- Defensive sectors like Utilities (NYSEARCA:XLU) and Consumer Staples
(NYSEARCA:XLP) are lagging. But all 11 sectors are in the green.
|Today, 9:34 AM|1 Comment
- Stocks are rallying, led by a rebound in the megacap stocks and an
enthusiasm for deals.
- The S&P is up 1.5%, the Nasdaq is rising 1.5% and the Dow is up 1.5%.
- Apple is up 1.9% following its first positive week for September.
Shares are moving further above the 50-day SMA, which it had slipped
below
last week.
- Amazon is also gaining as it confirmed its Prime Day would be held
Oct. 13-14. Baird says this morning that Amazon shares are still at
attractive buying levels.
- Energy (NYSEARCA:XLE) is bouncing back after posting a loss of more
than 10% last week. A Devon Energy deal and an upgrade of Chevron are
helping sentiment in the beaten-down sector.
- Defensive sectors like Utilities (NYSEARCA:XLU) and Consumer Staples
(NYSEARCA:XLP) are lagging. But all 11 sectors are in the green.
|Today, 9:34 AM|1 Comment
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