The markets blasted off today in response to Trump's speech to congress last night. The Dow 30 was up a whopping 303, the S&P 500 added 32, and the Nasdaq 100 was up 72, all hitting new all-time highs. Tomorrow the scheduled news is rather light. Traders will get a look at natural gas storage numbers and job cuts, both of which are not usually market movers.
Lowe's (NYSE: LOW) shares shot up 9.22% today as the home improvement retailer released earnings that showed a beat on both its top and bottom lines for the fourth quarter. Revenue was a focus as it was higher by 19% thanks to "better-than-expected same-store sales growth as shoppers purchased more big ticket items such as appliances and flooring." Shares of Lowe's are now up over 14% on the year.
Weight Watchers (NYSE: WTW) shares blasted off 28.63% today as the weight loss company announced a positive earnings outlook for the year after it was able to show a profit in the fourth quarter, beating estimates. The company cited an increase in memberships likely due to Oprah Winfrey. She is an owner of shares in weight watchers and has taken a more active role in the company promoting her own weight loss progress. Since the announcement of her participation shares are up over 73%.
Best Buy (NYSE: BBY) was one of the days losers despite reporting earnings that topped estimates. The focus was on revenue which missed expectations for the holiday period. Revenue was lower by 1% from a year ago as "same-store sales unexpectedly declined in the fourth quarter as consumers bought fewer electronic devices like gaming consoles, wearable devices and mobile phones." The move today sent shares into negative territory for the year.