happy friday everyone, and welcome to yourstock market today for friday, january 13. i’m alissa coram here with elaine low. that’s right, the nasdaq broke its 2017win-streak yesterday but came back with a gain of a half a percent today to hit a newhigh. meanwhile the s and p 500 gained point 2 percentfriday while the dow lost a fraction.
nasdaq apple stock price, for the week, the major indexes finished mixedas tech stocks take the lead -- the nasdaq finished up 1 percent while the s and p fell1 tenth of a percent and the dow slipped 4 tenths of a percent. and oil had a wild week – falling hard earlythen bouncing back – as traders try to balance
u.s. production gains agains opec output cuts. crude futures ultimately closed down 3 percentto a little over 52 dollars a barrel – the biggest drop since early november. now let’s take a look at some stocks towatch for the coming week. while the nasdaq continues its upward trajectory,top tech names are showing compelling action. the “fang-plus†stocks – facebook, amazon,netflix, google owner alphabet and apple – are all in or near buy range. netflix is solidly back in its buy zone aheadof its quarterly earnings report on wednesday. shares initially broke past a 129.39 cup-with-handleentry on january 4th, and after testing the
pivot last week, are now past that level witha three and a half percent gain friday. netflix could be considered for a weekly optionsplay ahead of its results – check out ken shreve’s earnings preview on page b2 ofthe ibd weekly for details. google parent alphabet also tested its 824.40entry this week, but is back above that level. it’s also trading just 1 percent below analternate entry at 839.10, which is 10 cents above its october 28 high. though the stock is nearing a prior high,the relative strength rating is just a 52, signaling lackluster price performance vs. other stocks.
and apple remains in buy range after breakingout of a cup-with-handle base with a 118.12 buy point. like alphabet, the r-s rating of 57 couldbe stronger. but analysts expect apple to return to bottom-linegrowth in the second quarter, which could impact the stock. meanwhile, facebook and amazon are tradingabout 3 to 4 percent below buy points. they’ve both risen all but one day so farin 2017. coming up next week we have the presidentialinauguration. earlier this week, trump’s comments on drugprices weighed on biotech stocks, so we will
continue to update you on other market-movingcommentary from the soon-to-be president. plus, the world’s rich and powerful willtake over davos-klosters, switzerland from tuesday to friday. political and economic leaders from aroundthe world as well as high-profile business executives like sheryl sandberg and jack maare set to attend. you’ll also want to keep an eye out forearnings from netflix, general electric, skyworks solutions, ibm and more banking names as earningsseason continues to ramp up. for further details on what to watch nextweek, you can check out our weekly investing action plan at investors dot com, set to hitthe web over the weekend.
that’s it for this week. make sure to subscribe to our facebook livenotifications on facebook and continue to leave your comments on this post. we’re also on twitter and instagram, somake sure to follow us there for more stock market news. thanks for watching. we’ll see you on tuesday since monday isa market holiday. have a great weekend.
