U.S. stocks rose as earnings season continues to impress with companies like Comcast, Chipotle Mexican Grill and Verizon reported positive results.
The National Association of Realtors reported existing home sales rose better than expected. helping propel stocks higher despite global uncertainty.
- The Dow gained 0.36 percent, closing at 17,113.54.
- The S&P 500 gained 0.50 percent, closing at 1,983.53.
- The NASDAQ gained 0.71 percent, closing at 4,456.02.
- Gold lost 0.55 percent, trading at $1,307.30 an ounce.
- Oil lost 0.47 percent, trading at $102.38 a barrel.
- Silver lost 0.27 percent, trading at $20.92 an ounce.
News Of Note
ICSC Retail Store Sales declined 0.4 percent week over week after gaining 0.1 percent last week.
June Consumer Price Index rose 0.3 percent, in-line with expectations, but lower than May's 0.4 percent gain. Core CPI rose 0.1 percent, below the 0.2 percent expected.
May FHFA Housing Price Index rose 0.4 percent month over month, in line with estimates.
Redbook Chain Store Sales rose 3.7 percent year over year after rising 4.1 percent last week.
June Existing Home Sales rose to 5.04 million from 4.91 million in May. June's figure came in above estimates of 4.99 million.
June Richmond Fed Manufacturing Survey rose to +7 from +5 in May.
Argentina's lawyers placed a new request for the U.S. district judge handling the country's bond situation to put a stay on a ruling that requires the country to pay holdout investors $1.33 billion and interest.
Russian separatist leaders handed over the black box of downed flight MH17 to Malaysian authorities.
Saudi Arabia plans to open up its stock market with a total market capitalization of $530 billion to foreign investors.
Analyst Upgrades And Downgrades Of Note
Analysts at UBS upgraded Allergan (NYSE: AGN) to Buy from Neutral. Meanwhile, analysts at Jefferies maintained a Hold rating on Allergan with a price target rasied to $174 from a previous $160. Also, analysts at JPMorgan maintained an Overweight rating on Allergan with a price target raised to $200 from a previous $190. Shares lost 0.41 percent, closing at $170.43.
Analysts at CICC upgraded Baidu (NASDAQ: BIDU) to Buy from Accumulate. Shares hit new 52-week highs of $200.05 before closing the day at $198.43, up 0.36 percent.
Analysts at Raymond James maintained an Outperform rating on Chipotle Mexican Grill (NYSE: CMG) with a price target raised to $725 from a previous $675. Also, analysts at JPMorgan maintained an Overweight rating on Chipotle with a price target raised to $670 from a previous $575. Meanwhile, analysts at Jefferies maintained a Hold rating on Chipotle with a price target raised to $600 from a previous $535. Shares hit new 52-week highs of $667.90 before closing the day at $659.77, up 11.84 percent.
Analysts at B. Riley maintained a Buy rating on Deckers Outdoor (NASDAQ: DECK) with a price target raised to $106 from a previous $83.82. Shares gained 0.36 percent, closing at $84.12.
Analysts at Citigroup maintained a Buy rating on Ford Motor (NYSE: F) with a price target raised to $21 form a previous $19. Shares gained 0.68 percent, closing at $17.82.
See more from Benzinga
- Markets Lower As Geopolitical Uncertainty Continues
- Earnings Continue Driving Markets Higher
- Dow Sets New Intraday High; Citigroup Impresses With Earnings
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.