Stocks today were in rally mode again, cheered by news of a tentative deal to avoid another government shutdown. Several stocks in the Dow Jones index rose 2% or more, including Caterpillar (CAT), 3M (MMM), DowDuPont (DWDP) and Merck (MRK). Out of the four, Merck is by far the healthiest. It's near the top of a flat base with an 80.29 buy point.
XWith a little over an hour remaining in Tuesday's session, the Dow Jones industrials led the way, up 1.5%. The Nasdaq composite added 1.4% and the S&P 500 picked up 1.3%. Volume on the NYSE and Nasdaq were tracking higher than Monday's levels in the stock market today. (For updates on this story and other market coverage, visit the Stock Market Today page.)
Among the FAANG stocks, Amazon.com (AMZN) outperformed, but the tech bellwether is still in a technical downtrend. Shares rose 2.5% on reports the company is raising prices at Whole Foods. Netflix (NFLX) stock also did well, up more than 3%. It's just below a 358.95 entry.
Stocks Today: Growth Shines Again
Stocks today on the move included SS&C Technologies (SSNC). The software firm extended gains as it works on the right side of a cup-shaped base. The company was featured in Monday's IBD 50 Stocks To Watch column.
Tuesday's session served up more base breakouts from the likes of Mimecast (MIME), Lululemon Athletica (LULU) and Under Armour (UAA). Mimecast, which sells cloud-based email security services, gapped out of a 35-week consolidation on strong earnings. Leaderboard name Lululemon cleared a cup-with-handle base with a 152.91 buy point. And Under Armour reversed higher after a soft start. A solid earnings report fueled a breakout from a cup-with-handle base with a 21.62 entry.
Stocks Today: MarketSmith Growth 250 Movers
Meanwhile, the MarketSmith Growth 250 served up plenty of solid gainers besides Mimecast and Lululemon.
Chegg (CHGG), a textbook and education services company, soared 9% on strong earnings. Headed into the report, it was just past the 5% buy zone from the 32.92 buy point.
In the enterprise software space, RingCentral (RNG) was off highs, but still rose nearly 7%, after the company reported adjusted earnings of 23 cents a share, well ahead of expectations. Revenue increased 34% to $188.6 million.
New issue Tencent Music (TME) closed in on an all-time high after Macquarie made positive comments. Shares were up 6% to 15.95.
Outside of the MarketSmith Growth 250, Shopify (SHOP) recovered nicely after a 7.2% intraday drop. Shares edged higher after it reported another quarter of strong earnings and sales growth. Wall Street focused early on sales guidance of $307.5 million, a tad below the consensus estimate of $308 million.
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