January 30, 2019

The market got off to a strong start this morning with better than expected earnings reports from numerous major companies, especially from market leader Apple, whose shares are represented in several indices.  A 5% gain in Apple helped the Dow opened 250 points higher and it traded in that area for much of the day until the Federal Reserve open market committee concluded their 2-day meeting with comments that suggested there may be no more rate increases this year and that sent the Dow to a 500 point gain.

  • At the close:

    DOW +435 to 25014
    S&P +41 to 2681

  • NASDAQ +155 to 7183
  • OIL +1 to 54.25
  • GOLD +9 to 1318

In corporate news shares of Dow component Boeing were 6% higher after the jet maker reported net income 20% above what analsysts wer expecting and raised their guidance for 2019. Chinese internet giant Alibaba reported earnings above expectations and, despite growing revenue at the slowest pace in 3 years, it wasn’t as bad as some had expected sending those shares 6% higher.