Will it be four, or more? The Dow could hit a new record for the the fifth straight session. Meanwhile, all eyes are on the S&P 500 which is now within striking distance of its all-time high. At Friday's close it was 1,551.18. That's the highest level since October, 2007. Momentum alone could push the S&P to a new record. Marketwatch says so far this month $1.84 billion has flowed into the SPDR S&P ETF. Both the Vanguard and iShares Core ETFs have seen an influx of about $1.5 billion this year.
Meanwhile, the Nikkei has again hit its highest point in 4-and-a-half years, gaining another 1/2 percent today. Japan's index has been in the middle of a meteoric rise in large part due to a weaker Yen.
It's proving to be a jungle out there for Amazon's (AMZN) smaller competitors. The Wall Street Journal reports Amazon is trying to win control of new domain names like dot-book, dot-author and dot-read. Two publishing groups are protesting, saying the move would stifle competition. Barnes and Noble (BKS) is also objecting. In addition to the reading-related domains, Amazon has also applied for control of rights to dot-movie, dot-app, dot-wow and dozens of other domain names.
Investigators are happy to see a hedge fund manager who vanished with $500,000 in his Calvin Kleins. He's Florian Homm, who ran off 5 years ago, with the cash stuffed in his underwear. Homm was arrested in Italy over the weekend. He's accused of defrauding investors and causing $200 million in losses. The SEC has filed charges against him that could carry a 75-year prison sentence.
STOCKS TO WATCH
Finnish phone-maker Nokia (NOK) is seeing its stock drop. It's down on word that the company's Windows phones can't handle a software upgrade. Sources say the upgrade drains the batteries in the phone too quickly. Separately, Goldman Sachs has cut its price target on the company and is re-iterating a "sell" recommendation.
Dick's Sporting Goods (DKS) has missed earnings estimates. The company is down about 6% in premarket trading. The retailer says it earned $1.03 per share for the fourth quarter. That's three cents below estimates. Revenue also fell short of expectations. On Friday it had closed just about $3 below its 52-week high. The company owns about 500 Dick's Sporting Goods stores as well as around 50 Golf Galaxy stores.
Clothier Urban Outfitters (URBN) reports after today's closing bell. Analysts are expecting the chain to post earnings of 57-cents a share, more than double what it did a year ago. In addition to Urban Outfitters, the company owns four other brands including Anthropologie and Free People.
Also reporting today is Heckmann (HEK), which disposes of water used in fracking. Heckmann has recently been downgraded by a number of analysts. But today the company releases its first report since merging with competitor Power Fuels. The deal promised big improvements to margins and profits.
There's something Marvelous today and tomorrow for fans of comic books. Marvel has just redesigned its app and web store, and to celebrate it's making 700 of its comic books available for free. They're all premier "No. 1" issues, meaning the first in a comic strip. Prices are normally $1.99 to $3.99. The special giveaway runs through 11pm tomorrow. Marvel has been owned by Disney (DIS) for the last 4 years.
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