The markets were mostly higher today as earnings continues to drive investors. The Dow 30 closed higher by 197, the S&P 500 added 13, and then Nasdaq 100 started positive but ended the day lower by just 1.
Earnings are just getting started with many more names due up this week. As of now we have 21.8% of the S&P 500 out with earnings with 81.3% of them beating expectations on earnings.
Emerging markets (EEM ) got a boost today from earnings out of Europe but mostly because of China's comments to support it's economy with fiscal policy. The EEM was higher today by 1.4% on the news and continues to move off lows.
Mexico (EWW ) also enjoyed a positive day as the global news along with strong earnings all around helped support the country. The EWW has been recovering rapidly ever since trade war talks turned to China. Since hitting a low back in June the EWW is higher by 1%
Retail stocks (XRT ) were one of the weakest areas of the markets today as Hasboro (HAS ) does a 180 from yesterday and Whirlpool suffers. Footlocker (FL ), and Under Armour (UAA ) were also weaker on the day.
Stock News:
Alphabet (GOOGL ) shares blasted off to new highs today, adding 3.75% in the process as the company reported earnings that more than beat Wall Street's expectations. Analysts were expecting $9.59 per share and they company reported $11.75 thanks to a sharp increase in paid clicks and other bets. YouTube, self driving cars and cloud computing all have investors bullish. Shares are now higher by about 20% on the year.
Other tech names like Facebook (FB ) and Amazon (AMZN ), and Apple (AAPL ) also had a strong day on the heels of Alphabet's earnings. Facebook hit a new high in the process.
Whirlpool (WHR ) was your biggest loser in the S&P 500 today as the company missed earnings projections as well as revenue numbers. The company put the blame square on the Trump tariffs, saying that they are now paying more for raw materials like Aluminum and steel. Shares are now lower on the year by 22%.
Other strong names on the day include, Eli Lilly (LLY ) which reported earnings that beat the street as well as Biogen (BIIB ) which also beat on revenue and earnings. LLY gained 4% and BIIB added 3.5%.
United technologies (UTX ) led the way in the Dow today with earnings that came in better than expected. The company also lifted their full year guidance which helped the bulls confidently buy the stock up 3%.
