After one down day the markets are back in the green with most closing near highs. The Dow 30 was up 47, the S&P 500 added 9, and the Nasdaq 100 gained 26 on the day. Traders continue to be stuck with no new opportunity to buy, but no real reason to sell so next weeks news events could force their hands.
Traders will be focused on the G20 meetings along with updates on Brexit which could provide some market volatility early in the week.
Chipotle Mexican Grill (CMG ) shot up 5.79% today on well above average volume even though the company missed top- and bottom-line expectations for the quarter. Additionally, Telsey Advisory Group lowered its target price on the restaurant chain to $400 from $420. Today;s move helps pull CMG off 52 week lows where it has been for 2 months.
Yahoo! (YHOO )added 1.36% today after reports indicated that Verizon (VZ ) is closing in on a deal to acquire the web portal's core business. Verizon is one of five bidders said to have entered final-round offers. This news helped the telecom stock today as well. Shares of Verizon were up 1.28% on the news.
American Airlines (AAL ) jumped 4.00% today after beating bottom-line estimates for the quarter and projecting an improvement in unit revenue in the second half of the year. This result helped the entire sector recover from Southwest Airlines (LUV ) disappointment from yesterday. The sector added 1.89% on Americans news today.
In the retail space Skechers USA (SKX ) plunged 22.34% after missing analysts' estimates for the quarter and lowering its outlook for the third quarter. Volume hit a 9 month high today as shares fell to new 52 week lows.
Lastly, Boeing (BA ) started the day lower but finished flat (-0.06%) after announcing that it would be recording $2.1 billion in charges related to various manufacturing programs. The company is scheduled to report earnings on July 27.