Nasdaq Rally Fueled By Software Gains | Summary and Q&A

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November 19, 2020
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Investor's Business Daily
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Nasdaq Rally Fueled By Software Gains

TL;DR

Despite concerns about a resurgence in coronavirus cases, the Nasdaq gained 0.9% thanks to positive vaccine news and investors shifting focus to software stocks.

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Questions & Answers

Q: What were the major indexes' performances for the day?

The Nasdaq gained 0.9%, the S&P 500 was up 0.4%, and the Dow increased by 0.2%.

Q: Why did investors pivot to software stocks?

Despite concerns about coronavirus cases, positive vaccine news and the resumption of stimulus talks provided optimism, leading investors to focus on software stocks.

Q: How did Salesforce.com perform?

Salesforce.com gained 3% in heavy turnover, approaching its recent high. It could potentially experience a breakout if the market continues to strengthen.

Q: What were the highlights for AMD?

AMD had a good day, with a 3.6% increase and a solid close near highs. It is working on a cup with handle base and showing positive signs.

Q: What was notable about Bilibili's breakout?

Bilibili had a powerful breakout on strong earnings, with revenue up 82% in the latest quarter. Its metrics, such as monthly active users and paying active users, also showed significant growth.

Summary & Key Takeaways

  • Nasdaq gained 0.9%, S&P 500 up 0.4%, and Dow up 0.2% amid fears of increasing coronavirus cases.

  • Software stocks showed strength, with Salesforce.com gaining 3% and nearing its recent high.

  • AMD had a good day, with a 3.6% increase and potential cup with handle base forming.

  • Chinese stock Bilibili had a powerful breakout on strong earnings, with revenue up 82% in the latest quarter.

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