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Stocks, Oil Prices Climb On Trade Talks; Intel Upgraded



Stocks jumped higher Friday as Intel (INTC) and Tesla (TSLA) were early risers. The Trade Desk (TTD) scored a breakaway break breakout. President Dollar Trump was scheduled to join the China trade talks underway in Washington, stirring investor optimism and oil prices.




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The Dow Jones industries popped 0.5%, enough to turn the index positive for the week and aim towards its longest weekly rally in 24 years. The Nasdaq Composite also climbed 0.5%, while the S & P 500 pushed to a 0.4% gain.

Intel led the Dow and the Nasdaq 100, with more than two-thirds of the 30 Dow listings advancing in premarket trade. Intuit (INTU) topped the S & P 500, following a late-Thursday earnings reports and an analyst price target hike on Friday morning.

Stocks set to break out on earnings news included Trade Desk (TTD) and Acacia Communications (ACIA). Zillow (Z), Roku (ROKU) and Universal Display (OLED) are also soared on earnings. Dow Jones stock Intel jumped on an analyst upgrade. Tesla shares perked higher on the company's first Model 3 deliveries in China.

Mining issues were in motion. Newmont Mining jumped on earnings, and after reports said Barrick Gold (GOLD) was considering a takeover. Kirkland Lakes (KL) reversed into early losses after reporting quarterly results in late Thursday.

Kraft Heinz (KHC) dropped to the bottom of the S & P 500 and the Nasdaq 100 collapsing as analysts downgraded the stock after a weak quarterly report, and the news that it faced an accounting study. Also on Friday's injured list: Stamps.com (STMP) dived 56% after the company ended its partnership with its top customer, the U.S. Postal Service.

Trump Set To Join Trade Talks

President Donald Trump has reportedly plans to meet with Chinese Vice President Liu He in Washington on Friday afternoon. According to Bloomberg,

Reports Thursday said the negotiators were working on a memorandum of understanding covering non-tariff barriers, services, technology transfer and intellectual property, which would provide a basis for a preliminary agreement. Trade tariffs for China-made imports valued at $ 200 billion per year are set to increase from 10% to 25% starting March 2.

President Trump and Vice Premier Liu were scheduled to meet at 2:30 pm. ET.

Dow Jones Stocks: Intel Upgraded, Forms Base

Intel has thrown out an early lead on the Dow, up 3% after Morgan Stanley boosted its rating on the stock to overweight, from equal weight.

Intel shares finished Thursday at 21% from late October's low, back above the key technical support and above the mid-point. The note also boosted the chipmaker's price target to 64, from 55. The target was 24% above Thursday's closing price. -point of the left side of the stock's eight-month long base pattern. The stock was 12% below the potential potential purchase point of 57.70.

Growth Stocks: Trade Desk Scores Breakaway Gap

Growth stocks were fine in early Friday, with IBD Sector Leader and IBD 50 stock trading desk spiking 24% at the open, while Acacia spiked 8%. Intuit sparked 5% higher, exiting a buy range over a 231.94 buy point.

It's been a volatile week for the Trade Desk, which broke out a handful of 157.60 handle buy point on Tuesday. The stock fell back below that entry on Wednesday, falling 7.6% below the threshold – which left some wiggle room for investors to hold out for a limit of 8% on the automatic sale rule.

Shares retook the buy point emphatically at Friday's open, following a strong fourth-quarter report late Thursday. Kirkland Lakes, also an IBD 50 stock, ended Thursday with a 7.8% gain after increasing its three-year gold production. The move set the gap between buying and selling at a breakout price of 175.75, starting at the stock price of 175.75 and running through 184.53.

outlook Shares fell 3% at Friday's open, despite the miner announcing a 68% earnings gain and a 32% rise in revenue for its fourth quarter. Both numbers topped expectations.

The stock ended Thursday up 38% since the start of the year, and extended after a breakout from a cup base in December.

Can Dow Jones, Nasdaq, Russell 2000, Stretch To 9 [19659009] The Nasdaq composite and the Russell 2000 each end eight-day rallies on Thursday. The Dow Jones industrialists were down 0.1% for the week through Wednesday. The issue now: Will the Dow Jones industrialists and the Nasdaq recover enough ground to continue their weekly winning streaks?

The benchmark is the longest string of weekly advances since the 10-week rally in March-May 1995. [19659004] The Nasdaq composite ended Thursday down 0.2% for the week. If it can turn that around and log on a ninth-straight weekly advance, it would mark its longest string of weekly gains since its rebound from a market-crash low in March-May 2009.

The Russell 2000 small-cap gauge showed a 0.4% gain for the week through Thursday. It also is tracking toward its ninth weekly gain. Both the Nasdaq and the Russell 2000 are struggling against resistance at their 200-day moving average.

For a more detailed analysis of the stock market and its current uptrend, study IBD's Big Picture.

Tesla Delivers First Model 3s In China

Tesla Swung ahead 1.7%. The company said it had begun delivering its Model 3 sedans in China, ahead of potential tariff increases in early March. Owners took possession of the first Model 3 imports at a ceremony in Beijing on Friday. Tesla has been in a weakening trend since early December.

Tesla shares have been in a weakening trend since early December. The stock is broken down below its converged 10- and 40-week moving average, ending Thursday 23% below its December high.

Copper, Oil Prices Rise; Gold Steady

Oil prices were ticked to a second-straight weekly advance, helped by optimism towards progress in the U.S.-China trade talks. West Texas Intermediate swung 0.9% higher Friday, aiming to end the week above $ 57 a barrel for the first time since November. Europe's Brent crude benchmark added 0.5% to trade above $ 67. WTI prices could see some impact from Baker Hughes (BHGE) weekly rig count report, due out at 1 p.m. ET

Copper surged 1.3% to near $ 2.94 per pound, trading up 11% from a Jan. 4 low and at its highest level since June. Gold gained 0.3%, trading around $ 1,332 an ounce, after falling almost 2% on Thursday.

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