|Day's Range||2,552.64 - 2,559.47|
|52 Week Range||2,083.79 - 2,559.47|
Earnings season will be the big story this week with headliners like Goldman Sachs, GE, Netflix, and Verizon all reporting results.
Netflix rose slightly late Monday after its Q3 report, a departure from recent big post-earnings moves. The major averages hit new highs Monday, but breakouts were lacking.
Gains in equity markets look set to extend to Asia after fresh U.S. records, while Treasuries fell as the odds climbed of John Taylor becoming the next head of the Federal Reserve. The New Zealand dollar ...
The markets rose to new highs today ahead of earnings from Morgan Stanley (MS), Goldman Sachs (GS) and Johnson & Johnson (JNJ) tomorrow morning as oil prices rose. WTI Crude futures gained 0.82% to $51.87.Goldman Sachs climbed 1.6% to $242.41, Morgan Stanley rallied 1.3% to $48.94, and Johnson & Johnson declined 0.2% to $136.12. The fact that the market is hitting new highs has convinced some that the market is in a bubble--and that the Fed has caused it.
All three major U.S. stock index rose to record closing highs on Monday, with the Dow Jones Industrial Average less than 50 points below 23,000, ahead of a long list of earnings this week and as financial shares recovered from last week's losses. JPMorgan Chase (JPM.N) and Bank of America (BAC.N) led gains in bank stocks, tracking a climb in U.S. Treasury yields, which benefits banks. JPMorgan was up 2.1 percent, while Bank of America was up 1.6 percent.
Apple gains offset weakness in the healthcare sector. Small increases for benchmark indexes were enough to lead them to new closing records.
Treasury yields rose on Monday after Federal Reserve Chairwoman Janet Yellen left open the possibility of another interest-rate increase this year
Shares of PG&E (PCG) tumbled to the bottom of the S&P 500 Monday after an analyst at J.P. Morgan warned that the company could face dramatic losses if found responsible for the wildfires devastating northern California. On Friday, PG&E was the worst-performing stock in the S&P 500 mid concerns that its power lines may have caused the wildfires that recently ravaged California. Goldman Sachs analyst Michael Lapides called the Street’s reaction “overstated” and maintained a Buy rating, though the firm still removed the stock from its conviction list.
For the week ending October 13, the S&P 500 index (SPY) closed at 2,553, recording gains of 0.15%. The S&P 500 Index has appreciated in six out of the last eight weeks.
Jim Cramer explains why uniform supplier Cintas is set to soar thanks in part to the president's pro-business initiatives.