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Dow Jones Strikes 6-Month High As These 3 Key Stocks Rally



The Dow Jones Industrial Average rose 0.6% to its best level since Oct. 10, the S&P 500 climbed 0.2%, and the Nasdaq pared its loss to 0.1%. Small caps were slightly higher, with the Russell 2000 up 0.2%. Preliminary data showed volume lighter on the NYSE and Nasdaq vs. The same time Thursday.

Freshly listed Dow (DOW) led the Dow Jones industrial with a 6% jump. The plastics giant was spun off and replaced DowDuPont (DWDP) on the blue-chip index starting Tuesday.

Boeing (BA) lifted 3% if it tries to retake its 50-day moving average for the first time since March 12.

Disney (DIS) added 2% in busy trade, on track for its best close in nearly six months. Shares are 4% off their 52-week high.

Goldman Sachs issued Disney at a buy price and 1

42 price target along with bullish comments on the upcoming Disney Plus subscription video service. On Tuesday, Rosenblatt Securities began covering Disney with a purchase price and 150 price target, citing a "compelling risk-reward" for Disney Plus. Disney will provide details about Disney Plus at its investor day event next week.

Automakers, software and other computer-related stocks were among the biggest industry-group losers in the stock market. Tesla (TSLA) weighed on the automaker group with a 9% drop after the electric-car maker's Q1 model 3 deliveries were well below expectations. But department stores, oil explorers and building-related plays advanced

The homebuilder group has come back 37% since bottoming out in October. It moved up to No. 36 among IBD's 197 industry groups through Wednesday's close, up from No. 74 six weeks ago

Homebuilders Rise, Software Sinks

Homebuilder ETFs rose Thursday: IShares U.S. Home Construction (ITB) rose almost 2% to continue a rebound off its 50-day (or 10-week on a weekly chart) line. The fund is still 22% below its January 2018 high. SPDR S&P Homebuilders (XHB) climbed 1.2% to also extend to its 50-day line. Shares are 35% below their January 2018 peak

About in the IBD 50, enterprise software maker Atlassian (TEAM) led the downside with a 5% drop, nearing a potential test of its 50-day line. The stock has found support at the trend line since late November. Other software stocks taking a hit included Baozun (BZUN), Fortinet (FTNT) and Paycom Software (PAYC), down more than 4% each. ] Among IBD 50 stocks bucking the decline, Kirkland Lake Gold (KL) leaps 5%. Gold miner ETFs VanEck Vectors Junior Gold Miners (GDXJ) and VanEck Vectors Gold Miners (GDX) rose about 2% each. GDX regained its 50-day line

Truck parts maker Meritor (MTOR) advanced nearly 3%. Yogawear retailer Lululemon Athletica (LULU) gained 2.5%, on track for a new closing high. Shares are extended from a 158.77 flat-base buy point.

The Innovator IBD 50 ETF (FFTY) falls 1%, on pace to end of five-session win streak but holding above its 200-day line.

Please follow Gondo on Twitter at @IBD_NGondo for more on growth stocks, ETFs and how to invest in CAN SLIM quality market leaders.

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