The major indices started the week in the green, rising across the board, with tech stocks leading the way ahead of Alphabet’s earnings. So far, more than 47% of SP500 companies have reported results with 68.5% topping analyst expectations. China – US trade developments still remain on the minds of investors but for now, the positive earnings releases are helping the markets move higher. Here’s a look at how we finished the day on Wall Street:
DOW +175 at25239
SP500 +18 at 2724
NASDAQ +83 at 7347
The 10 Year Treasury yield closed up 3 basis points to yield 2.72%
Oil prices closed -.48 at 54.79 a barrel
Gold prices closed -4.50 at 1317.60 an ounce
In the days’ stock news:
- Alphabet and Gilead Sciences are scheduled to report earnings after the close.
- Shares of Clorox rose over 5% after posting a better-than-expected profit. The company also reiterated its guidance for 2019 earnings and revenue.
- Sysco and Alexion Pharmaceuticals also reported stronger than expected earnings.
- Pizza chain Papa John’s struck a deal with activist hedge fund Starboard Value in what it hopes may bring an end to a rocky few months that included a public battle with the chain’s founder, John Schnatter. Papa John’s traded nearly 9% higher for the day.