|

Stocks higher

Stocks kicked off the day with a bang.

The major indices were up nicely at the open with earnings in the spotlight.

But after hitting highs of the year, stocks pulled back.

After moving sideways there was a dip in the afternoon. With 30 minutes left in the day, the S&P even dipped into negative territory.

Then another push higher into the close helped the major indices end the day with gains.

Leading the major indices, the NASDAQ closed above 8,000 for the first time since October 1st.

Here's where the major indices ended the day:

  • The S&P finished with a 0.1% gain. Up a point, the S&P ended at 2,907.
  • The DOW ended higher by 0.3%. Adding 68 points, the DOW closed at 26,453.
  • The NASDAQ was up 0.3%. With a 24 point gain, the NASDAQ finished at 8,000.

Crude Oil (CL) bounced back after yesterday's drop. Up 1.0%, CL ended at $64.00 a barrel.

Bank of America (BAC) was all over the place after beating earnings expectations. But an unexpected decline in interest income sent the stock lower by as much as 2.8%. BAC finished the day with a 0.1% gain.

BlackRock (BLK) jumped on better than expected numbers and ended the session with a 3.3% gain. Progressive (PGR) was another earnings beat, up 6.9% on the day.

Apple (AAPL) and Qualcomm (QCOM) made headlines after settling a royalty dispute. AAPL was pretty much unchanged. But QCOM rallied 23.2%.

There was good news for Boeing (BA) today.

The FAA announced that the Boeing 737 MAX software is "operationally suitable". The Stock was up 2% after the news and finished the day with a 1.7% gain.

Netflix (NFLX) will be in the spotlight tomorrow. The company reported disappointing guidance but strong subscriber growth in an earnings call after today's bell. In after-hours trading, the stock was down as much as 9.3%.

Author

Markus Heitkoetter

Markus Heitkoetter

Rockwell Trading

As founder and CEO of Rockwell Trading Services LLC., Markus Heitkoetter has shared his trading methods and ideas with more than 300,000 traders in over 196 countries.

More from Markus Heitkoetter
Share:

Editor's Picks

EUR/USD hits two-day highs near 1.1820

EUR/USD picks up pace and reaches two-day tops around 1.1820 at the end of the week. The pair’s move higher comes on the back of renewed weakness in the US Dollar amid growing talk that the Fed could deliver an interest rate cut as early as March. On the docket, the flash US Consumer Sentiment improves to 57.3 in February.

GBP/USD reclaims 1.3600 and above

GBP/USD reverses two straight days of losses, surpassing the key 1.3600 yardstick on Friday. Cable’s rebound comes as the Greenback slips away from two-week highs in response to some profit-taking mood and speculation of Fed rate cuts. In addition, hawkish comments from the BoE’s Pill are also collaborating with the quid’s improvement.

Gold climbs further, focus is back to 45,000

Gold regains upside traction and surpasses the $4,900 mark per troy ounce at the end of the week, shifting its attention to the critical $5,000 region. The move reflects a shift in risk sentiment, driving flows back towards traditional safe haven assets and supporting the yellow metal.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid risk-off, $2.6 billion liquidation wave

Bitcoin edges up above $65,000 at the time of writing on Friday, as dust from the recent macro-triggered sell-off settles. The leading altcoin, Ethereum, hovers above $1,900, but resistance at $2,000 caps the upside. Meanwhile, Ripple has recorded the largest intraday jump among the three assets, up over 10% to $1.35.

Three scenarios for Japanese Yen ahead of snap election

The latest polls point to a dominant win for the ruling bloc at the upcoming Japanese snap election. The larger Sanae Takaichi’s mandate, the more investors fear faster implementation of tax cuts and spending plans. 

XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.