February 5, 2019

We began another busy week for earnings reports with a nice tech driven rally yesterday as the Dow and NASDAQ look for a 7th consecutive week of gains and that rally continued into the open today on the back of more solid quarterly earnings reports.

The Dow opened +100

At the close:

  • DOW +172 to 25411
    S&P +13 to 2738
  • NASDAQ +54 to 7402
    OIL -.80 to 53.70
  • GOLD -.60 to 1319

In corporate news shares of Google parent Alphabet were fractionally higher following a report that Q4 revenue and net income were above what analysts were expecting.  Cosmetics company Estee Lauder shares were 12% higher after the company report sales and earnings well above expectations and Ralph Lauren gained 8% after they too reported sales and earnings above what analysts were expecting.  Merck edged higher after Merrill Lynch upgraded the stock and said it was their top pick in the pharmaceutical sector.