The markets were slightly positive today as investors are waiting for news from the Federal Reserve and the European Central Bank due out later this week. The Dow 30 was up 17, the S&P 500 gained 5, and the Nasdaq 100 added 17. Tomorrow the focus will be back on oil as inventory numbers are due out in the morning.
Apple (NASDAQ: AAPL) shot up first thing this morning but were unable to hold on to most of the gains. The stock was able to gain 0.45% on the day as CEO Tim Cook said sales of the Apple Watch are setting a record in the current quarter. Reuters published an email from Cook saying that "Apple Watch sales during the first week of holiday shopping were greater than any week in the product's history." This response from Cook was likely due to a report from research firm IDC which estimated that Apple sold 1.1 million watches in the third quarter, down 71% from a year earlier.
AutoZone (NYSE: AZO) reported earnings today which caused a pop of 0.69%. The earnings report showed that the auto parts retailer had better than expected earnings for its fiscal first quarter. Analysts were quick to note that this is the company's 41st straight quarter of double digit growth in earnings per share. It wasn't all good news though. Revenue was up more than 3% from a year ago, but was below the street's estimates.
Ford (NYSE: F) shares added another 0.80% today as the motor company is looking to raise debt for the first time in four years. According to reports, Ford plans to raise $2.8 billion through the sale of 10- and 30-year bonds. The proceeds "will be used to fund investments in new technology including self driving cars." Shares have enjoyed over a 12% gain in less than 30 days.