The markets continued to show more strength today as all the major indices are now moving in unison. The Dow 30 was up 39, the S&P 500 added 16, and the Nasdaq 100 popped 57. Crude oil was a major driver today as it gained over 5% on the day. Tomorrow the market will get the oil inventory reports, but other than that the scheduled news is pretty light. Traders continue to focus on the options expiration on Friday and the likelihood of continued volatility.
Home Depot (HD ) shares sold off 2.56% today despite the home improvement giant announcing better than expected earnings on both the top and bottom lines. The company also made it clear that it would raise its 2016 forecast. According to the report, the results were driven by both an increase in the number of transactions and the amount each shopper spent. All that good news wasn't enough to save the stock from a selloff today. Shares sold off almost all day and closed near their lows.
JD.com (JD ) was a big winner today as the Chinese based e-commerce company topped sales forecasts for its fiscal third quarter. More good news was revenue which jumped 38% during the same period as "its number of active customer accounts increased by 57% to 198.7 million." Investors loved the news and bought the stock up all day long. Shares closed up 11.39% near their highs of the session.
Facebook (FB ) shares continued to come off their recent lows today gaining 1.84% thanks to "WhatsApp". The social media giant says they are adding a video calling feature for its one billion users. The service will be "fully encrypted, making it impossible for the government or Facebook to listen to its calls." Facebook continues to move quickly to outpace any and all competition.