Ultimate magazine theme for WordPress.

BTC
$8,093.65
+1.38%
ETH
$257.07
+2.33%
LTC
$103.66
+6.5%
DASH
$158.55
+0.11%
XMR
$87.48
+1.71%
NXT
$0.03
0%
ETC
$7.37
+1.94%
DOGE
$0.00
+1.2%
ZEC
$73.81
-0.39%
BTS
$0.07
0%
DGB
$0.02
+3.41%
XRP
$0.39
+1.4%
BTCD
$20.33
PPC
$0.41
0%
CRAIG
$0.00
XBS
$2.00
XPY
$0.01
0%
PRC
$0.00
0%
YBC
$1,439.57
0%
DANK
$0.00

Record Closing Highs Reached for S&P 500, Nasdaq Composite as Earnings Boost Market

8,286

The S&P 500 and Nasdaq Composite Index both closed at new record highs Tuesday as investor appetite for stocks rose after strong corporate profit reports.

- Advertisement -

The S&P 500 climbed 0.9%, while the Nasdaq gained 1.3%. The S&P 500 eclipsed its previous record of 2,930.75 set in September and the Nasdaq closed above its previous peak of 8,109.69 set in August. The Dow Jones Industrial Average gained 0.6%, but still shy of its all-time closing high of 26,828.39 set last October.

Earnings reports were the market’s focus Tuesday. Several well-known companies, including Twitter (TWTR) and Hasbro (HAS), posted results that beat expectations. United Technologies (UTX) and Coca-Cola (KO) also reported quarterly numbers that exceeded estimates. The healthcare and consumer discretionary sectors were the biggest gainers in the S&P 500.

The market’s swoon from December is seemingly a distant memory as optimism about the trade situation between the US and China, the retreat of the threat of interest rate hikes from the Federal Reserve and a solid economy have helped boost the market so far in 2019.

Looking ahead, the parade of companies reporting earnings continues Wednesday. Boeing (BA), Caterpillar (CAT), and Facebook (FB) are among some of the companies scheduled to post results Wednesday.

In economic news Tuesday, new home sales flew over the consensus estimate for March, with sales coming in at a 692,000 annual rate compared with the 645,000 consensus, according to Econoday.

US MARKETS

Dow Jones Industrial Average was up 145.34 points (+0.6%) to 26,656.39
S&P 500 was up 25.71 points (+0.9%) to 2,933.68
Nasdaq Composite Index was up 105.56 points (+1.3%) to 8,120.82

GLOBAL SENTIMENT

FTSE 100 was up 63.19 points (+0.85%) to 7,523.07
Hang Seng Index was down less than a point to 29,963.24
Shanghai China Composite Index was down 16.45 points (-0.51%) to 3,198.59

UPSIDE MOVERS

(+) AKTX (+15.82%) Positive trial data for skin disease

(+) SCON (+12.75%) Selected by India’s IPR for Tokamak Fusion Development

(+) UPLD (+4.68%) Acquires PostUp for $35 million, raises fiscal 2019 revenue guidance

DOWNSIDE MOVERS

Just-released report names Cannabis Stock of the Year for 2019! Their last pick has seen a +1,200% return since he released it!

This stock has all of the makings of the next great cannabis stock – early-mover advantage, international exposure and influential partnerships, plus it has a product that is unlike anything else on the market…

You will also receive a free, weekly newsletter to stay on top of the latest industry trends, read analysis on promising cannabis stocks, and more. Click here to receive your Free Report immediately!

(-) MBRX (-46.64%) Agrees to sell stock at 46% discount

Comments