The markets were higher again today as the Federal Reserve announced that they would leave rates unchanged. Their notes also stated that they would begin to wind down their stimulus "relatively soon". This pushed the Dow 30 higher by 96, the S&P 500 higher by 1, and the Nasdaq 100 up 10. Tomorrow investors will get durable goods numbers along with unemployment claims before the markets open. These two tend to be market moving reports.
Chipotle (NYSE: CMG) was the big name that made earnings headlines as the company reported earnings that were between than expected. Revenue was also higher due to cost cutting, but just missed expectations. After that brief earnings excitement the stock sold off 2.30% today as the company cant get past the sickness outbreaks that continue to haunt them. The stock has been lower recently due to reports of people getting sick at one of its restaurants in Virginia. The Mexican food chain said on its earnings call Tuesday that a sick employee was to blame for the outbreak at that location, easing concerns that the outbreak was a larger, supply chain issue.
Ford (NYSE: F) shares suffered another 2.13% decline today despite the company announcing that it would raise its profit outlook for the year. The company released their earnings which came in better than Wall Street had foretasted. The automaker also beat revenue forecasts as well. It seems that the company saw increased benefits from a lower tax rate along with "strong demand for its pick-up trucks." The sell off today puts shares lower by over 6% just this week. Shares are lower on the year by almost 10%. Shares are lower by 30% since hitting highs back in May.
Advanced Micro Devices (NYSE: AMD) moved to new highs today, adding 4.61% as many analysts raised their price target on the stock today. This comes after the company announced that it showed a turnaround which Wall Street was not expecting. Revenue came in better than expectations, popping more than 18% from a year ago. On the conference call the company continued to promote growth and gave an outlook for the current quarter and the year that was optimistic as it "expects demand for its graphics chips to remain strong."