The markets enjoyed a very strong day today as the banking sector led the way. The Dow 30 added 142, the S&P 500 gained 21, and the Nasdaq 100 added 87 on the day. The strength today was able to erase all of yesterday's losses on the Dow and the S&P 500. Tomorrow traders will get a look at GDP numbers as well as unemployment claims.
Financial Sector ETF (NYSE: XLF) had a strong 1.57% day today as the banking stocks all traded positively today. The sector saw buyers jump in after Janet Yellen's comments yesterday, along with stress test news. For the past 3 days banks have pushed higher sending the XLF higher by over 2.5%.
FedEx Corporation (NYSE: FDX) was back in the news today as shares were halted in the morning on news that the virus attack further affected the package delivery company. Though the company released a statement saying that packages would be delivered as scheduled, they did note that they were not sure how the hack would affect earnings. They stated that though they were unsure of the effect, they felt it would have a "material" impact. Despite this, shares were able to remain at highs, adding 1.31% on the day.
Monsanto (NYSE: MON) shares broke out to new highs today adding 1.23% after news came out that the agriculture business had announced earnings and revenue that was better than expected. According to the release, the company "benefited from strong demand for its soybean seeds", which grew by over 29%. Shares are now higher by almost 13% on the year.
General Mills (NYSE: GIS) shares saw a much needed bounce today after the company announced earnings that beat Wall Street expectations on both its top and bottom lines. Analysts were focused on the companies success in cutting expenses by scaling back promotions. Though the stock bounced 1.62% today, shares are still lower on the year by 8%