The stock market turned in another resilient performance Thursday despite another sell-off in Asian markets overnight. The Dow Jones Industrial Average pared losses after falling more than 200 points early.
XBoeing (BA) was a top gainer in the Dow Jones industrials, while Citrix Systems (CTXS), Neflix (NFLX) and Western Digital (WDC) outperformed in the Nasdaq 100. In after-hours trading, Intel (INTC) surged more than 6% after the company reported strong Q4 results.
The Dow Jones ended with a loss of 0.1% in the stock market today. The Nasdaq added 0.2% and the S&P 500 inched up 0.1%. Preliminary data showed volume on the NYSE and Nasdaq coming in close to Wednesday's levels.
VanEck Vectors Semiconductor ETF (SMH) gained ground for the seventh time in eight sessions. It reversed higher after a soft start, ending with a gain of 0.6%. Texas Instruments (TXN) also reversed higher after reporting earnings, ending firmly above a 129.27 entry.
U.S. markets were spooked early by a 2.75% drop in the Shanghai composite overnight. The pneumonia-like coronavirus has resulted in at least 17 deaths, with more than 600 people infected. But the selling in the U.S. stock market abated after the World Health Organization said it's too early to declare the outbreak "a public health emergency of international concern."
Dow Jones Movers
After two straight heavy-volume declines, Boeing shares jumped nearly 3%. New CEO Dave Calhoun said he's certain the 737 Max is safe and will fly again. Earlier this week, Boeing said it's not expecting regulators to sign off on the 737 Max until June or July, much later than expected.
Intel and Pfizer (PFE) ended with gains of around 1%.
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McDonald's (MCD), Apple (AAPL) and Microsoft (MSFT) also outperformed in the Dow Jones. All three report earnings next week.
Stock Marker Gainers
Among the FANG stocks, Netflix (NFLX) climbed impressively after two straight declines. It reclaimed a 338.10 buy point with conviction, soaring 7% to 349.60. Early Thursday, Guggenheim maintained a buy rating but raised Netflix's price target to 420 from 400. Netflix shares slumped more than 3% Wednesday after the company reported earnings. U.S. subscriber adds missed expectations, but international subscriber adds were better than expected.
In other stock market news, PayPal (PYPL) added 2% as it forms the right side of a base. In a move to grow digital payments in China, PayPal inked a deal with UnionPay International where 120 million UnionPay cardholders will be able to creat PayPal accounts.
InMode (INMD) and Paycom (PAYC) were big winners in the IBD 50, up 8% and 4%, respectively. InMode is working on the right side of a base. Shares of Paycom were strong on news the company is joining the S&P 500.
Dynatrace (DT) moved bullishly higher in the MarketSmith Growth 250, up 7% to 27.92. It's back above a 27.29 entry ahead of its earnings report next week.
Follow Ken Shreve on Twitter @IBD_KShreve for more stock market analysis and insight.
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