August 4, 2020, 1:01 pm EDT
Market Update: Breaking Out Here and There
Although stock markets produce mixed performance (DJIA +0.3%, S&P 500 flat, Nasdaq -0.2%), some stocks and industries keep breaking out for new highs. Here are some highlights:
- Semiconductor: Intel’s trouble is AMD’s celebration. AMD +9% indicates it begins to run over Intel from 56-85 or +52% gains in two weeks. Upside momentum could continue. Universal Display (OLED) +4% is another evidence of Apple’s strong performance with high demand for smartphones and other electronic devices are expected for months to come.
- Gaming: EA, ATVI, TTWO electronic gamings are red hot during pandemic. It makes sense for more people to play video games at home when most other activities are not available. Again, COVID-19 may help this industry to prosper.
- Retailer: Target (TGT) is breaking out with TJMax (TJX) as an example. The US government may send out another $1200 check to individuals in order to help people going through economic difficulty. It is a big boost for retailers.
- Material: Fertilizer Mosaic (MOS) +13% breaks out from solid base. Falling US dollar and flooding in China and other districts may trigger high demand and higher prices for these chemical materials. CF looks attractive also.