Stock Market Update Thursday, January 16th, 2020

Stocks had ANOTHER record breaking day today.

The major indices kicked off the trading day with gains. Then traded sideways.


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But in the afternoon stocks were making new records. And after an afternoon rally, the major indices finished at highs of the day.

With today’s gains the S&P, DOW, and NASDAQ all made new records. And the S&P rallied past 3,300 for the first time ever.

Here’s where the major indices ended the day:

  • The S&P finished with a 0.8% gain. Up 28 points, the S&P ended at 3,317.
  • The DOW ended higher by 0.9%. Up 267 points, the DOW closed at 29,298.
  • The NASDAQ was up 1.1%. With a 98 point gain, the NASDAQ finished at 9,356.

Crude Oil (CL) found support at $58 today and rallied. Up 1.1%, CL ended the session at $58.47 a barrel.

In earnings news, Morgan Stanley (MS) was a winner today, jumping 6.6% after beating expectations. Charles Schwab (SCHW) was an earnings winner as well, up 4.0% on better than expect numbers.

It’s just the beginning of earnings season. But we’re off to a great start.

According to FactSet, 7% of S&P 500 companies have reported Q4 earnings and 76.5% have reported better than expected numbers.

Welcome to the club…

Apple (AAPL) did it in 2018. Then Microsoft (MSFT) and Amazon (AMZN) followed.

And today, Alphabet (GOOGL) joined just a handful of companies in the $1 trillion dollar market cap club after making new record highs. GOOGL finished the day at 1450.16 with an 0.8% gain.

Here is the economic calendar for the week:

Real Time Economic Calendar provided by Investing.com.

Source: RockwellTrading by Markus Heitkoetter | Original Link

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