The major market indexes were quietly higher in early morning trade Tuesday. The tech-heavy Nasdaq edged higher, rising less than 0.1%. Meanwhile, the Dow Jones industrial average and S&P 500 inched slightly higher.
XAutoplay: On | Off Among the Dow Jones Industrial components, Johnson & Johnson (JNJ) and UnitedHealth (UNH) rose 1.8% and 5.3% — respectively — after upbeat Q3 earnings results.
J&J was on track to reclaim its 137.18 flat-base buy point, while UnitedHealth surged to new highs.
On the downside, Boeing (BA) declined 0.6% to fall back into the 5% buy range from its 246.59 flat-base entry.
FANG stock Facebook (FB) reached a breakout above a 175.59 flat-base buy point. The social media giant briefly touched a record high this morning.
Among companies reporting earnings, Netflix (NFLX) has hovered between positive and negative territory, after being down as much as 2.4% earlier. Late Monday, the company released strong Q3 results late Monday that saw the video streamer add more subscribers than expected. But earnings fell short of the Street's targets, coming in at 29 cents per share compared to the 32 cent-per-share estimate.
Global investment banks Goldman Sachs (GS) and Morgan Stanley (MS) beat top- and bottom-line estimates early Tuesday, sparking early advances. But shares of Goldman turned red, falling about 1.5%. Goldman Sachs is still building a saucer-with-handle pattern with a 247.18 entry, while Morgan Stanley added over 2% to its gains from a recent cup-with-handle breakout that featured a 48.59 buy point. Morgan reached a new 52-week high.
Blue-chip JPMorgan (JPM) traded unchanged as it holds onto its recent gains from a breakout above a 95.32 flat-base buy point.
Recent issue Despegar.com (DESP) faltered more than 6%, triggering a sell signal from a recent breakout above an IPO-base's 33.50 entry.
Within the IBD 50, Celgene (CELG) attempted to regain its 50-day line, advancing over 1%. The biotech is still below a 139.10 flat-base entry.
On the downside, leading chip stock Applied Materials (AMAT) beat a hasty retreat, falling almost 1% in morning trade. Shares are still extended from a 47.69 cup-with-handle buy point.
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