Buyers in Energy and Industrials Send Stocks Higher at Midweek: 7 Stocks You Need to Know for Thursday
The S&P 500 rallied into strength ahead of trading on Thursday after three consecutive closes in oversold territory above the 200-day moving average. Rebounding energy companies were among the biggest gainers on Wednesday, with stocks like Newfield Exploration ^NFX^ up more than 5%.
Retailers ^TGT^ and ^ANF^ reported better than expected earnings on Wednesday, but investors remained skeptical, sending shares lower. By contrast, shares of Abercrombie & Fitch soared by more than 3% after blowing away analyst expectations.
Here are 7 Stocks You Need to Know for Thursday.
Among the retailers announcing quarterly earnings on Thursday are ^GPS^ and ^ROST^. Shares of Gap have climbed for the past two days following a brief dip above oversold territory, while ROST is up nearly 1% after a very modest two-day pullback.
The earnings beat by ^DELL^ after the bell on Tuesday helped draw trader’s attention to the previously oversold market for the stock’s shares. Down four in a row, including a most recent close in oversold territory, DELL closed higher by more than 5% on Wednesday.
The beginning of profit-taking in ^DPS^ (below).
The stock pulled back by more than 1% on Wednesday after closing higher for nine consecutive trading days – including six sessions in overbought territory above the 200-day.
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Drifting lower for a second day in a row were shares of ^WMT^ (below).
WMT is trading at its most oversold levels since mid-April when it rallied above its 200-day moving average.
Up more than 1% and rallying into strength above its 5-day moving average was ^AAPL^ (below).
Shares of AAPL had pulled back for four days in a row, including two in oversold territory, before its recent, two-day bounce.
Buyers moved back into ^CAT^ in a big way on Wednesday, sending the stock higher by more than 3% after a five-day pullback that took the stock into oversold territory above the 200-day.
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David Penn is Editor in Chief of TradingMarkets