Stocks Steady: Franco-Nevada Is Golden, Shopify, SolarEdge Near Buys

TL;DR

The stock market had a flat trading day on Christmas Eve, with the S&P 500 remaining unchanged. However, there were some potential breakout opportunities in gold stocks like Franco Nevada and technology stocks like Shopify and SolarEdge.

Transcript

hello everyone and welcome to stock market today sponsored by Interactive Brokers it's Tuesday December 24th it is Christmas Eve and we are live from the investors business daily Studios in Los Angeles it's Justin Nielsen along with Edie Carson we've got some elves in the background here showing their Christmas spirit now that's what we're doing in... Read More

Key Insights

• 🤭 The stock market had a quiet trading day on Christmas Eve, with little movement in major indexes.
• 🙃 Gold stocks, like Franco Nevada, have been resilient and have shown potential upside.
• 💪 Technology stocks, like Shopify and SolarEdge, have been strong performers throughout the year.
• 🚨 Breakout opportunities are emerging in several stock sectors, including gold and technology.
• 🔈 Investors should exercise caution and be aware of low trading volume during holiday periods.
• ⏰ IBD Live, a morning trading show, offers valuable insights and analysis for investors.

Questions & Answers

Q: How did the stock market perform on Christmas Eve?

The stock market had a quiet trading day, with the S&P 500 remaining unchanged. The Dow Jones was down slightly, while the Nasdaq and Russell 2000 were up slightly.

Q: Which stocks showed potential breakouts?

Franco Nevada, a gold stock, showed potential breakout opportunities. Shopify, a technology stock, also had potential breakout potential. SolarEdge, another technology stock, was also in the spotlight.

Q: Why are gold stocks like Franco Nevada performing well?

Gold stocks have been counter cyclical and have shown resilience during market downturns. Additionally, the weakening of the US dollar has led to higher gold prices, benefiting gold stocks.

Q: What is the outlook for Shopify?

Shopify has been performing well and has formed a cup pattern. While it has experienced a continuous upward trend, a pause in its price movement would be ideal before further upside.

Summary & Key Takeaways

• The stock market had a quiet trading day on Christmas Eve, with the S&P 500 remaining unchanged. The Dow Jones was down slightly, while the Nasdaq and Russell 2000 were up slightly.

• Despite the overall flat action, there were some potential breakout opportunities in certain stocks, such as Franco Nevada, Shopify, and SolarEdge.

• Gold stocks, like Franco Nevada, have shown some upside potential due to their counter cyclical nature, while technology stocks, like Shopify and SolarEdge, have exhibited strong performance throughout the year.