The markets were quite strong today on slightly lower than average volume. The Dow 30 was the big headline as it inched closer to the 20,000 number, adding 90. The S&P 500 was up 8 and the Nasdaq 100 was strong as well, adding 26. Tomorrow investors can look to oil for the weekly inventory reports along with existing home sales numbers due out in the morning.
Nvidia (NVDA ) added another 3.48% today making new highs for the fifth straight day as Goldman Sachs announced their new, bullish bias. Goldman said that they are adding the stock to their conviction buy list. After gaining over 200% Goldman now notices that it is strong and should be a buy! . It is by far the best performer in the S&P 500 for 2016.
Nike (NKE ) added 1.87% ahead of earnings today after the close. The street is expecting earnings per share of 43 cents on revenue of $8.09 billion. This will be Nike's last attempt to go positive for the year as investors have shied away from the name this year. Concern over the loss of customers has pushed Nike lower by over 17% for 2016.
CarMax (KMX ) shot up 5.97% today despite reporting mixed quarterly results. The auto retail chain beat profit expectations for the quarter, but slightly missed their revenue numbers. CarMax announced earnings per share of 72 cents with revenue of $3.7 billion. Investors seemed to be forgiving the revenue number and focusing in on the same-store sales growth of 5.4% which was much better than the 4.2% expected.
Advanced Micro Devices (AMD ) was higher by 5.02% today as the popular semiconductor company was upgraded by Mizuho to buy from neutral. They also raised their price target to $13. The stock has been steadily stronger all year long boasting an astonishing 300% rally this year.