Large-cap techs showed mixed action in stocks today, but the Nasdaq still outperformed the Dow Jones industrial average. Small caps also excelled. The S&P 600 rose 0.6%.
XAt 1045, the small-cap S&P 600 has rallied 11.6% since Jan. 1.
The Nasdaq composite edged less than 1 point ahead, better than a 0.4% drop for the Dow Jones industrial average and a 0.2% decline for the S&P 500.
Intel (INTC), a member of all three key indexes, slid more than 3% and dipped as low as 52.34 as volume grew 36% above average. The stock also undercut its key 50-day moving average but bounced decently off the session low.
Watch to see if institutions shore up the stock. A leading issue that surrenders the 50-day or 10-week moving average and fails to rebound back above it is providing a defensive sell signal.
The chipmaking giant holds a respectable 90 Composite Rating from IBD Stock Checkup on a scale of 1 to 99. Keep in mind, though, that the Composite Rating helps investors select top growth stocks. It does not serve as a timing tool for selling.
Searching For Winners
Meanwhile, Alphabet (GOOGL) moved a bit further past a new breakout point of 1,161.20, or 10 cents above the handle's high in a 4-1/2-month double-bottom base.
The Google search engine owner and Waymo self-driving technology firm rose 2% to 1,183. The stock would have to rise more than 5% past the 1,161.20 entry point, or to 1,219.26, to exit the proper buy zone.
Wall Street sees earnings growth slowing in the second and third quarters of this year, at 8% and 10%. But full-year earnings are seen rising 24% to $44.36 a share. That would mark the third year in a row of 20%-plus profit gains.
Analysts also see revenue climbing 24% and 22% in Q2 and Q3, respectively. Full-year revenue target: $136.12 billion, up 23%.
Alphabet is investing $550 million in the Chinese e-commerce giant JD.com (JD). The two strategic partners aim to build "next generation retail infrastructure solutions" that provide "personalized and frictionless shopping experiences."
Beijing-based JD increased its revenue 41% last year to $54.19 billion, an annual record.
JD is also highly profitable. The big-cap firm earned 50 cents a share in 2017, up 233%. The stock is forming the right side of a new base.
Going back to the semiconductor sector, Intel arch rival Advanced Micro Devices (AMD), highlighted in today's IBD New Highs feature, jetted more than 4% higher to 17.08. Volume pushed 82% above its 50-day average, a sign of heavy institutional buying.
The Composite Rating in the GPU and CPU manufacturer is now a solid 90 on a scale of 1 to 99, according to IBD Stock Checkup.
Business Services Stocks Rock
Companies that are helping grow sales, expand business markets, and facilitate transactions continue to thrive amid signs that the U.S. economy is accelerating.
Square (SQ) rushed 2.7% ahead to 66.20 in average turnover. The innovator in point-of-sale technology for small- and medium-size businesses is extended after rising past a 57.29 buy point in a nine-week cup with handle. The base has elements of a double bottom as well.
Analysts polled by Thomson Reuters see earnings leaping 71% in the second quarter vs. a year ago to 12 cents a share. Earnings have grown 250%, 600%, 60% and 20% in the prior four quarters.
TransUnion (TRU), one of 11 companies highlighted in IBD Leaderboard, rallied 0.5% to 71.53. The credit scoring and consumer financial information giant is still in buy range after sparking a follow-on entry point in a four-weeks-tight pattern. This pattern is just one week longer than the three-weeks-tight, which highlights tight trading in a stock leader after a healthy run higher.
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