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.
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.
This Stock Market Update was provided by Rockwell Trading Services LLC.