Yahoo Finance's Jared Blikre breaks down some of the features of the Yahoo Finance Premium package.
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ADAM SHAPIRO: Jared Blikre is keeping an eye on what's happening with markets. And what can you tell us, Jared?
JARED BLIKRE: Well, the Dow is under water, being dragged down by energy and industrials. But the NASDAQ 100 is popping here. And if we take a look at the NASDAQ 100 heat map, a couple of standouts-- Apple up over 3 and 1/2% after its stock split to a record high. Tesla up 9% after its stock split to a record high, $482 and change right now. Amazon also another record high along with the discretionary sector. It is up 2% today.
And just looking at some of the other names at that leaderboard top-- we've got Alexion Pharmaceuticals, Zoom Video, which is reporting its earnings after the close, BioMarin, and Insight. To the downside, we've got some some chip names. Lam Research is down about 3 and 1/2%.
Let's take a look at the month's price action, as this is the last day of August. We can see the Dow is going to close up probably more than 6%. We've got NASDAQ up over 7%, nearly 8% including today's gains. And then the S&P 500 up about 6.4%.
Well, it's time for the Yahoo Finance Premium Investment Idea of the Day, and guess what? It's Apple and Tesla, and it's based on those stock splits. So Argus Research is writing about Apple today. As of this morning, they're reflecting a four-one-stock split for holders as of record as of last Friday. The split was made, in the words of CEO Tim Cook, to make the stock more accessible to a broader base of investors.
Argus is also saying about Apple, "its stock split sends a message that management and the board are confident in the company's prospects. They also broaden the base of actual and potential investors." Their price target is now $150, and that is adjusted for the split price. It would be somewhere up there.
And on Tesla, it is now $566. That represents a potential 28% upside. Adam?
ADAM SHAPIRO: Hey, Jared, real quick, when we talk about the S&P 500 having a really strong rally, best performance in more than 30 years, put that into context for a lot of us who want to look forward and not backward.
JARED BLIKRE: Well, this is the best August for the S&P 500 since 1986. Now, on average, September is a month with some hiccups. It's the worst performing month since the 1950s. But any time we have this kind of performance up until this point in the year, we tend to end the year up.
So despite election volatility, which is almost a given right now and is getting priced in, more likely than not, we're going to hold on to some nice gains for the year. But a lot of this does depend on what happens with the COVID vaccine and treatment. And, of course, there are a lot of unknowns here, Adam.
ADAM SHAPIRO: And we should remember that some of the finest people in the country were born in September. But we'll talk about that in a couple of weeks. Jared, thank you very much.