Tech Stocks Lift Nasdaq To Another Bullish Gain

TL;DR

The Nasdaq had a strong performance, finishing up 1.7%, while the Dow and S&P struggled to keep up. Abbott Labs saw a breakout due to its involvement in coronavirus testing. Costco raised its dividend and is approaching a new buy point. Akamai Technologies showed strength in streaming technology.

Transcript

good afternoon everyone and welcome to stock market today it's alyssa chorim and ken Shrieve here and on today's show we're gonna be taking a look at abbott as well as Akamai and Costco but before we do that let's take a look at those major indexes so this is a chart of the Nasdaq here and we saw a really strong close today the Nasdaq finishing up ... Read More

Key Insights

• 💪 The Nasdaq's strong performance indicates the continuation of an uptrend.
• ❓ Abbott Labs' involvement in coronavirus testing has made it a favorable stock for investors.
• ✋ Costco's ability to raise its dividend and approach new highs showcases its stability during a market crash.

Questions & Answers

Q: Why did the Nasdaq perform significantly better than the Dow and S&P?

The Nasdaq outperformed due to strong gains from companies like Amazon, Nvidia, and Regeneron, as well as its focus on technology stocks.

Q: What led to Abbott Labs' breakout?

Abbott Labs' breakout was driven by its involvement in coronavirus testing and a strong earnings report. The company has launched three separate coronavirus tests, making it a leader in the field.

Q: Why did Costco raise its dividend?

Costco raised its dividend to 70 cents a share, which is uncommon during these times. The company is in a good financial position and has been experiencing strong business due to the virus outbreak.

Q: What makes Akamai Technologies an interesting player in the industry?

Akamai Technologies provides content delivery network services, which are crucial for faster ecommerce transactions and video streaming to mobile devices. The company has also expanded into the security market through recent acquisitions.

Summary & Key Takeaways

• The Nasdaq had a strong day, finishing up 1.7%, while the Dow and S&P had a harder time keeping pace.

• Abbott Labs experienced a breakout, thanks to its involvement in coronavirus testing and its launch of a new test detecting antibodies.

• Costco raised its dividend and is testing new highs, showing resilience amid the market crash.

• Akamai Technologies surged over 5% due to strong volume, and its content delivery network services make it an interesting player in the streaming industry.