The markets blasted off today with almost every index making new all time highs. The Dow 30 was one that made new highs as it gained 293. The S&P 500 also ran to new highs today, adding 28. The Nasdaq 100 is still just a little behind, but was able to add 60 points today on this rally. Tomorrow the focus will be on the European Central Bank conference which starts one hour before the U.S. markets open.
Apple (AAPL ) added to yesterdays gains (+0.98%) as the tech giant announced that it added three million Apple Music users since September. Analysts note that this would bring its total paid subscriber count to 20 million. According to tech crunch, Apple Music is now in second place behind Spotify which has 40 million paying subscribers.
Mylan (MYL ) shares lost 3.79% today, almost breaking to new lows. The company reported that it is cutting just under 10% of its workforce as it "works to restructure its business and streamline global operations." Mylan says it plans to disclose additional details as initiatives are finalized. Shares have been under pressure this year, down over 30%.
Starbucks (SBUX ) added another 2.30% today as the Seattle coffee giant has begun revealing its future strategy at its Investor Day. The CEO Howard Schultz (who recently announced his retirement) said the company is only in the "early days" of growth, pointing to the Reserve business and strong growth in China as big revenue drivers.
Pfizer (PFE ) suffered more losses today (-1.20%) as Britain's Competition and Markets Authority has announced a fine for Pfizer of $107 million for allegedly overcharging the national health care system for an epilepsy drug that's used by about 48,000 patients in the country. The U.K.'s top antitrust regulator said "Pfizer broke competition law by charging unfair prices."