FANG Stocks Strike Back As Megacaps Lead. Meta, Amazon, Netflix In Focus | Stock Market Today | Summary and Q&A

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December 18, 2023
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Investor's Business Daily
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FANG Stocks Strike Back As Megacaps Lead. Meta, Amazon, Netflix In Focus | Stock Market Today

TL;DR

The mega cap stocks, also known as the Fang stocks, had a strong day, driving the market higher. The NASDAQ held its gains from last week and reached new highs, while other major indexes also saw positive movements.

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Questions & Answers

Q: Why did the mega cap stocks perform well in today's market?

The mega cap stocks, also known as the Fang stocks, had a strong day due to their dominance in the market and their weight in sector ETFs like XLC.

Q: How are the major indexes performing?

The NASDAQ closed at new highs, while the Dow closed flat and the S&P 500 saw a 0.5% increase. The Russell 2000 closed slightly higher.

Q: What are some indicators to gauge the market's movement?

Traders can look at moving averages, such as the 21-day exponential moving average, to gauge the market's trend. Additionally, watching for divergences between equal-weighted ETFs and mega cap stocks can provide insights into market sentiment.

Q: Should investors be concerned about the market being extended?

While the market has been extended for some time, it does not necessarily mean a pullback will occur immediately. It is important for investors to consider both bullish and bearish scenarios and practice risk management.

Summary & Key Takeaways

  • The NASDAQ closed up 0.6% and reached new highs, showing strength and holding gains from last week.

  • The Dow closed flat, the S&P 500 was up 0.5%, and the Russell 2000 closed slightly higher.

  • The mega cap stocks, including Facebook, Amazon, and Netflix, had a strong day, leading the market higher.

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