Stocks resumed a move higher today after a fake tweet briefly rattled the markets. Hackers broke into the Associated Press twitter feed and erroneously reported a terror attack on the White House. The Dow momentarily plunged 145 points into negative territory before the AP sent out notification that the account was compromised. This all occurred in a matter of four minutes.
All major indexes closed 1% higher for the day lifted higher by a flurry of earnings beats. A report on new home sales also seemed to give investors encouragement. The Commerce Department says new home sales rose 1.5% in March to an adjusted annual rate of 417,000. Despite the rise, the tally came in below analyst estimates of 420,000.
Netflix (NFLX) took flight today rising 25% on its earnings released after yesterday's closing bell. It posted profits of 31-cents a share, topping estimates of 18-cents, and revenues were right in line with expectations. Netflix is largely crediting "House of Cards" for the beat. TheRead More »from Earnings Fuel Stocks Higher Despite Brief Hack Plunge