Stocks made history today.
The major indices opened higher this morning. But things really started to move after today’s New Home Sales report.
The report showed that sales were better than expected, increasing at the strongest pace since November 2017.
After the report, the major indices rallied all morning long.
There was a pause in the rally during lunch. Then stocks moved sideways most of the afternoon before ending the day near session highs.
With today’s rally, the S&P and NASDAQ finished the day with a new record close.
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Here’s where the major indices ended the day:
- The S&P finished with a 0.9% gain. Up 26 points, the S&P ended at 2,934.
- The DOW ended higher by 0.6%. Adding 145 points, the DOW closed at 26,656.
- The NASDAQ was up 1.2%. With a 106 point gain, the NASDAQ finished at 8,121.
Crude Oil (CL) finished higher for the 3rd day in a row. Up 1.2%, CL ended at at $66.36 a barrel.
Earnings were strong today, which was a big reason for today’s move higher.
Coca Cola (KO) was up 1.7% on better than expected earnings. United Technologies (UTX), another DOW company, was an earnings winner as well with the stock up 2.3%. And Twitter (TWTR) was up 15.6% on strong strong earnings.
But Verizon (VZ) dropped 2.1% in spite of an earnings beat.
Tomorrow will be another big day for earnings. Facebook (FB), Tesla (TSLA), and Microsoft (MSFT) are just a few of the big names set to report.
Here is the economic calendar for the week:
Real Time Economic Calendar provided by Investing.com.
Source: RockwellTrading by Markus Heitkoetter | Original Link