The markets enjoyed a strong day all around today as investors cheered the idea of tax reform. The Dow 30 was higher by 195, the S&P 500 added 24, and the Nasdaq 100, which was the best performer, was higher by 84. Tomorrow traders will get a look at manufacturing numbers, new home sales, and oil inventories, in addition to a speech from FOMC member Kaplan in the morning.
Macy's (M ) shares enjoyed a nice 4.56% day today as it was reported that the struggling retailer hired Ebay's (EBAY ) senior VP Hal Lawton to be its new president. According to the reports, Lawton will "oversee all aspects of the Macy's brand." The company has been public about its attempts to create an environment where decisions are quickly made by the officers which would hopefully improve online sales. Shares of the stock are still lower on the year by over 40% as they adjust.
Toll Brothers (TOL ) shares sold off 2.56% today, hitting 2 month lows as the luxury home builder announced earnings. The company reported mixed results for last quarter overall, with earnings coming in way beyond analysts' estimates, but revenue falling short of expectations. On the bright side the company reported an 18% jump in sales which may be helpful going forward. Shares are higher by 17% on the year.
Restaurant Brands (QSR ) was one of the stocks that investors focused on today after UBS rated the company a "top pick." The firm believes the "stock will continue to outperform over the next year on improving same-store sales at its Popeyes and Tim Hortons chains." Investors agreed, sending shares higher by 2.42% on the day, which adds to their 30% gain on the year.