The markets enjoyed a strong day to start the week. Strong moves initially out of oil as well as tech and the financials pushed the markets higher. The Dow 30 was higher by 93, the S&P 500 added 9 and the Nasdaq 100 popped 55 on the day.
Apple (NASDAQ: AAPL) shares continued their rally to highs today, adding 0.72% in the process. Friday shares popped to new, all-time highs on news that Warren Buffett bought an additional 75 million shares of the tech giant, adding to his 170 million share stake. In just the last six days the stock is higher by over 14%.
Oil (NYSe: USO) was one of the main supporters of the S&P 500 for most of the day as the price per barrel rose above $70 for the first time since 2014. This sent the energy sector (NYSE: XLE) higher by 2% along with many energy related stocks, though prices closed higher by only 0.15%. In the Dow ExxonMobil (NYSE: XOM) was the primary benefactor of the strong prices. Shares were higher by 1.09%. Analysts were quick to note that the strong energy sector would be bullish for the overall markets going forward. This all changed 180 degrees following Trump's announcement that he will make his decision on the Iran nuclear deal tomorrow.
Starbucks (NASDAQ: SBUX) made headlines today as they announced a licensing deal with Nestle which allows the candy company to sell Starbucks products globally. The deal cost Nestle $7.15 billion. Shares of Starbucks were higher on the news briefly, but closed the day lower by 0.40%. Shares have struggled to move outside a wide range that started back in February.