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Dow Jones Hits Another Record High, Led By Nike; FANG Stock Makes Another Bullish Move

The stock market wasn't moving much in afternoon trading Friday as the Nasdaq composite tried to extend its winning streak to 12 sessions. The Dow Jones Industrial Average was up 0.2% in the stock market today, helped by solid showings from Nike stock, Procter & Gamble stock and Intel stock.

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Some of the so-called FAANG stocks were in the spotlight again as Apple (AAPL) hit a fresh high. But the stock gave back a good chunk of a 1.4% intraday gain. Apple remains well extended in price after a breakout over a 221.47 buy point in September.

Amazon.com (AMZN) followed through bullishly after shares soared more than 4% Thursday. Facebook (FB), meanwhile, is still in buy range after a breakout over an alternate entry of 203.90.

Tesla stock also backed off highs after an early pop. Tesla (TSLA) shares were strong early after the company said it will deliver its first Model 3 sedans from its Shanghai factory on Monday. The stock was added to Leaderboard when it broke out bullishly over a 361.30 buy point on Dec. 16.

The S&P 500 inched up 0.1% and the Nasdaq was mostly flat. Small caps lagged a bit, with the Russell 2000 down 0.3%.

Innovator IBD 50 ETF (FFTY) was mostly flat with the major stock indexes, while VanEck Vectors Semiconductor ETF (SMH) edged lower by 0.2%.

Inside The Dow Jones

Nike (NKE) shares continued their ascent, up 1% to 101.76. Nike stock made nice progress after a breakout over a 95.22 buy point, but it's now extended past the 5% buy zone.


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Intel (INTC) picked up 0.7% to 60.21. It's still in buy range after a breakout over a 59.23 entry.

Procter & Gamble (PG) added 0.7% to 126.15. It's trying to clear a base with a 125.87 buy point.

Outside Of The Dow Jones

In other stock market news, China-based ZTO Express (ZTO), featured in Thursday's IBD 50 Stocks To Watch column, added 2.5% to 23.49.

Inside the MarketSmith Growth 250, Yeti Holdings (YETI) outperformed, rising 2% to 35.48. It's still in buy range from a 34.30 buy point.

Follow Ken Shreve on Twitter @IBD_KShreve for more stock market analysis and insight.

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