U.S. equities tested new record highs on Friday as the United States and China agreed to a that stalled the imposition of new tariffs on Chinese imports this weekend. The deal should also see higher Chinese purchases of U.S. farm products and remove a major risk hurdle from the markets. Also helping is a breaking of the political deadlock in the United Kingdom after a big victory for the Tories.
As a result, the Dow Jones Industrial Average hit a new record intra-day high pushing towards the 28,300 level for the first time.
A number of key large-cap stocks are rallying strongly as a result. Here are four worth a look.
Ford (F)
Ford (NYSE:F) shares are breaking up and out of a six-month downtrend pattern with a move up and over its 200-day moving average. Shares are setting up a run at the prior highs set back in July near $10.20. Such a move would be worth a gain of nearly 11% from here.
The company is sensitive to a thawing of U.S.-China trade relations, which will hopefully help turn the company’s fortunes around in the country. The company will next after the close. Analysts are looking for earnings of 16 cents per share on revenues of $36.8 billion.
Nvidia (NVDA)
Nvidia (NASDAQ:NVDA) shares were pushing to new highs on Friday, breaking definitively up and over resistance near the $220 per-share level. Shares were recently upgraded to “overweight” by
with a new price target of $259.
For the current quarter, analysts are looking for earnings of $1.66 per share on revenues of nearly $3 billion.
Advanced Micro Devices (91¶¶Òõ)
Shares of chipmaker Advanced Micro Devices (NASDAQ:91¶¶Òõ) are testing new highs, breaking above the highs set in the middle of November as shares enjoy a push to levels not seen in more than a decade. The company recently joined the to help promote the development and proliferation of new blockchain-powered gaming platforms.
For the current quarter, analysts are looking for earnings of 31 cents per share on revenues of $2.1 billion.
Apple (AAPL)
Apple (NASDAQ:AAPL) shares are breaking out of their two-month trading range, capping a rise of more than 80% out of the lows seen at the start of the year. The company enjoyed a from analysts last week, with Evercore ISI raising to $305 and Bank of America raising to $290.
For the current quarter, analysts are looking for earnings of $4.52 per share on revenues of $88.2 billion.
As of this writing, William Roth did not hold any of the aforementioned securities.
