The Dow Jones Industrial Average and other major stock indexes hit new highs again Thursday, unfazed by a House vote Wednesday night that impeached President Donald Trump. The stock market is confident that the Trump impeachment will end like President Clinton's impeachment did in 1998-99, when the House impeached Clinton, but a Democrat-controlled Senate acquitted him.
XTop gainers in the Dow Jones included Walgreens stock and Cisco Systems stock, while Netflix (NFLX), Micron Technology (MU) and Leaderboard stock Nividia (NVDA) outperformed in the Nasdaq 100. Netflix, one of the so-called FANG stocks, showed bullish action by retaking its 200-day moving average.
Fast-growing Trade Desk (TTD) was a top gainer in the MarketSmith Growth 250, up 4% to 263.16. It's closing in quickly on a 267.74 cup-with-handle entry.
The Dow Jones industrials, S&P 500 and Nasdaq composite showed gains of around 0.3% to 0.5% midday in the stock market.
Dow Jones Gainers
Inside the Dow Jones, Walgreens (WBA) popped above its 50-day moving average, rising 2.5% to 58.61. The stock is forming a bottoming base but still has a way to go to get to a 64.60 buy point.
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Cisco Systems (CSCO) also outperformed in the Dow Jones with a gain of nearly 2%. But the stock is still damaged goods after a sharp sell-off that started in July.
Intel (INTC) shares joined another chip rally, up nearly 1% to 57.60. It's in position for a breakout try over a 59.23 buy point. A strong earnings report from Micron fueled more positive sentiment in the chip sector Thursday.
IBD 50 Gainers
In other stock market moves, IBD 50 stock InMode (INMD) is enjoying a nice bounce off its 10-week moving average for the first time after a breakout from an IPO base. Shares are up 15% so far this week.
Also in the IBD 50, NMI Holdings (NMIH) jumped nearly 4% to 35.64 in strong trade. It's still in buy range from a 34.60 alternate buy point. The private mortgage insurer was featured in Wednesday's IBD Stock Of The Day.
Earnings Watch
Earnings reports from CarMax (KMX) and Winnebago Industries (WGO) are due Friday before the open. Both are candidates for call option trades because they're close to buy points. CarMax is trading tightly near its 10-week moving average, while Winnebago is getting support at its 10-week line as it forms a flat base.
Follow Ken Shreve on Twitter @IBD_KShreve for more stock market analysis and insight.
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