MARKETS: AAPL powering the Nasdaq, S&P 500 to record highs — YF Premium is bullish on NortonLifeLock (NLOK)

Yahoo Finance’s Jared Blikre joins Seana Smith to break down the day’s price action in stocks as well as a long in NortonLifeLock (NLOK), a Yahoo Finance Premium Investment Idea. Not a subscriber? Start your free trial to join future webinars live!

Video Transcript


SEANA SMITH: Welcome back to “The Final Round.” We just have 30 minutes left in the trading week. Dow, S&P, and NASDAQ all holding onto gains. Dow up just around 200 points. Jared, what are you watching as we get closer to the closing bell?

JARED BLIKRE: Well, I’m looking at stocks holding onto their gains, specifically the Dow here looking good. But I want to draw attention to Apple. We’ve been talking about it a lot, and for good reason. It is options expiration date. And it looks like the $500 level for the stock is in place. So we could see that happen in the next 30 minutes.

Let’s take a look at the individual markets. Here is the Dow still maintaining its gains very close to its highs of the day there. NASDAQ also very close to at the upper end of its range. And the S&P 500 up 1/3% in the same situation. Now the Russell 2000, which is suffering today, really not getting off the dime much recently except on a few days when we have the 10 Year T-Note yield heading higher. Not the case today.

But I want to turn now to our Yahoo Finance Premium investment idea of the day, and that is NortonLifeLock. And this comes from Argus Research. And they are upping their target on it to $27. That would be a record high, some distance farther ahead than where we are now.

We can see on this year-to-date chart– there we go– it would be somewhere in this area here. So after it fills a gap, if it does that, you might want to lock in some profits. But if you’re looking for a stock, you could put it right under, let’s say, the $20 per share level. Just a couple of notes here.

Argus research saying, “This perpetually in turn around cybersecurity company appears to have finally found its footing under the new CEO, Vincent Pilette. We like the fact that management has set clear goals, executed well, and delivered solid results.” Yes, I’d say this is a company that has gone through several reinventions. Shauna.

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