The markets were higher today, hitting record highs in the process as tech stocks continued to bounce off their lows. The Dow 30 made new, all time highs today closing up 140, along with the S&P 500 which added 20. The Nasdaq 100 was a leader today gaining 87 and continues to settle after the volatility seen just two weeks ago. Tomorrow investors will have a speech by an FOMC member to digest but that is about it for scheduled news. The media seems to be shifting back to White House, specific news which may drive market activity going forward.
Boeing (NYSE: BA) share soared to new highs today as the focus was on their new plane, the 737 Max 10, which can carry up to 230 people. As the Paris air show began the plane maker said it had more than 240 orders and commitments from at least 10 customers for the new aircraft. Shares hit new highs on the news and are now higher by 26% on the year. Technical traders note the consistent and steady uptrend.
Lockheed Martin (NYSE: LMT) also made headlines at the Paris air show as reports came out that the company is close to a deal to sell 440 of its F-35 fighter jets to 11 nations, including the US. Reuters, which reported the deal possibility said that the total sales could be worth more than $37 billion. Investors cheered the news, sending shares higher on the day and up over 12% on the year.
Valeant Pharmaceuticals (NYSE: VRX) shares had a nice day today as the stock continues to try and come off its bottom. The move came after the Canadian drug maker announced that its largest shareholder, activist investor John Paulson would be joining its board of directors. Shares have been publicly under pressure for over a year, but as of May seem to be finding some buying interest.