Stocks hiked at Friday’s starting bell, as June’s strong retail sales figures helped boost Dow Jones Industrial Average (INDEXDJX: DJI) back over 35,000. Moderna Inc (NASDAQ: MRNA) rallied post-earning S&P 500 (INDEXSP: INX) membership. Starbucks Corporation (NASDAQ: SBUX) and Docusign Inc (NASDAQ: DOCU) were risers toward buy points. At the same time, American Express Company (NYSE: AXP) and Salesforce, com, inc. (NYSE: CRM) raced for the lead on the Dow Jones.
The Dow Jones Industrial Average gained about 60 points, up 0.15%. That was sufficient to take it back past 35,000 but stopped just a point shy of surpassing the index’s 35,091 high from May. The Nasdaq Composite (INDEXNASDAQ: IXIC) went up 0.2% and the S&P500 gained 0.15%.
Live Nation Entertainment, Inc. (NYSE: LYV) sprinted 2.3% to lead the S&P 500 after Goldman Sachs Group Inc (NYSE: GS) revealed coverage of the performance venue operator with a buy rating and a price target at 100- 38% higher than Thursday’s closing price.
IBD Stock Moderna climbed 9.9% higher, leading the Nasdaq 100 with news that it would join the S&P 500 on Wednesday. After rising 20% in under two weeks preceded by an early June breakout, the company is in the seventh of an eight-week hold rule.
Cintas Corporation (NASDAQ: CTAS), the industrial uniforms business, popped 2.9% while analysts raised price targets following its quarterly report on Thursday. Friday’s entry saw shares rise back above 369.30 in a 30-week consolidation.
Still, on the Nasdaq, Starbucks ran 1.2% higher as Oppenheimer Holdings Inc. (NYSE: OPY) notched its price target upward from 135 to 140. As a result, Starbucks stock ended Thursday slightly below a 119.08 buy point in a cup base running 12 weeks.
Arista Networks Inc (NYSE: ANET), a new entry on the IBD 50 list, is close to a busy pattern in a three-week tight pattern. Element Solutions Inc (NYSE: ESI), IBD’s 50 Stock to Watch last Thursday, is on track to create a flat base with a 24.80 buy point.
Intel Corporation (NASDAQ: INTC) climbed 1.6% higher on the Dow. The chipmaker was eyeing the Global Foundries, with the Wall street journal estimating the deal to be worth about $30 billion.