Stock Market Jumps As Nasdaq Eyes 14,000; BKNG, J, FWRG In Focus | Stock Market Today

TL;DR

The stock market posted broad gains on Thursday, September 14, as the Nasdaq and S&P 500 rose about 0.8% and moved above their 50-day moving averages. The discussion tracks the Nasdaq’s push toward 14,000 and examines Booking Holdings, Jacobs Solutions, and First Watch for support, accumulation, and possible breakouts. Read on for the specific index levels and stock setups highlighted.

Transcript

the good afternoon everyone and welcome to stock market today it's Ali cor mentri here with a breakdown of the action in today's session Thursday September 14th where we saw some pretty solid gains across the board for the major indexes today Ken yes indeed it was a it was a good session uh and it came amid another big surge in the US dollar which ... Read More

Key Insights

• 🥳 The NASDAQ and S&P 500 are back above their 50-day moving averages, indicating positive market sentiment.
• 💰 The surge in the US dollar was counterintuitive to the market's gains.
• ☠️ The market is becoming more optimistic that the Federal Reserve may be done with rate hikes for the year.
• 💁 Booking Holdings is forming a potential short and shallow base after positive earnings responses.
• 🍳 Jacob's Solutions is finding support and may be breaking out of a long consolidation phase.
• 🛀 First Watch, despite being in a pressured industry group, is showing strength and support, with potential for a breakout.
• 🔊 The volume in First Watch today was significantly higher, indicating institutional investor interest.

Questions & Answers

Q: How did the major stock market indexes perform on Thursday, September 14?

The Nasdaq and S&P 500 each gained about 0.8%, while the Dow rose almost 1%. The Russell 2000 outperformed with a 1.4% gain, although it remained the weakest and most technically challenged index discussed.

Q: Why was the Nasdaq’s move toward 14,000 significant?

The Nasdaq had its sights on 14,000 while approaching the September 1 high, which the hosts identified as a resistance level. It also moved back above its 50-day moving average, a positive technical sign.

Q: Why did stocks rise despite a stronger US dollar and 10-year Treasury yield?

The hosts suggested that investors were becoming more optimistic that the Federal Reserve might be finished raising rates through the end of the year. They noted that the odds of a quarter-point rate increase in November had fallen considerably in recent days.

Q: What technical signals indicated improving market conditions?

The Nasdaq, S&P 500, and Dow were all above their 50-day moving averages. The Nasdaq also showed higher-volume gains and subtle signs of accumulation, although the broader uptrend remained under pressure.

Q: Which stocks were highlighted on Stock Market Today?

The three highlighted stocks were Booking Holdings, Jacobs Solutions, and First Watch. They represented the online travel, heavy construction, and restaurant groups, respectively.

Q: What was the bullish setup in Booking Holdings stock?

Booking Holdings rose 2.6% with above-average volume and was forming a five-week shallow consolidation. The pullback was about 8% from its high, volume quieted during the consolidation, and the stock held support at its 10-week moving average.

Q: What signs of strength did Jacobs Solutions show?

Jacobs Solutions was finding support and appeared capable of emerging from a long consolidation phase. The stock was highlighted as a potential breakout candidate in the heavy construction group.

Q: Why was First Watch notable among restaurant stocks?

First Watch was one of the few stocks still showing strength in the pressured restaurant group. It was finding support and displaying potential for a breakout, while significantly higher volume suggested institutional investor interest.

Summary & Key Takeaways

• Major indexes, including the NASDAQ and S&P 500, showed strong gains of about 0.8-1%, while the Russell 2000 gained 1.4%.

• The market's positive performance came amid a surge in the US dollar, which was counterintuitive.

• Three stocks to watch are Booking Holdings, Jacob's Solutions, and First Watch, all showing positive signs of support and accumulation.