Stocks hit NEW RECORDS as earnings fuel gains

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Stocks touch new records as earnings fuel gains

IBM, Netflix and Johnson & Johnson all reported

U.S. equity markets opened higher Wednesday, with two major indexes breaking records, as corporate earnings continued to exceed expectations.

So far, 51 companies, or 10 percent of the S&P 500, have reported their results with 71 percent beating on both earnings and revenue, according to Refinitiv.

Both the Nasdaq and S&P 500 touched all-time highs, and the Dow Jones Industrial Average was within striking distance of a record.

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IBM reported better-than-expected results and raised its 2020 outlook.

Netflix beat on both the top and bottom lines, but its subscriber growth in the U.S. fell short of expectations.

Johnson & Johnson was lower after reporting fourth-quarter revenue that missed Wall Street estimates.

Elsewhere, Boeing remained near its lowest level in a year after the planemaker pushed back the timeline Tuesday for the 737 Max’s return to service.

Tesla shares rallied to record highs after Wedbush analyst Dan Ives raised his price target to $550 from $370, citing underlying strength in China.

West Texas Intermediate crude oil slid 1.4 percent to $57.57 a barrel after International Energy Agency Executive Director Fatih Birol said U.S. shale production will lead to an “abundance of energy supply in terms of oil and gas,” according to Reuters.

Meanwhile, gold slipped 0.1 percent to $1,556 an ounce.

U.S. Treasurys were fractionally lower, causing the yield on the 10-year note to climb by 1 basis point to 1.779 percent.

In Europe, Britain’s FTSE fell 0.3 percent while Germany’s DAX and France’s CAC were little changed.

Markets rallied across Asia with Hong Kong’s Hang Seng up 1.3 percent, Japan’s Nikkei higher by 0.7 percent and China’s Shanghai Composite gaining 0.3 percent.

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DemocracyRules
DemocracyRules
4 years ago

Key leader of Iran goon squads shot on street
https://www.reuters.com/article/us-iran-security-basij-idUSKBN1ZL1X4
“Gunmen in Iran shot dead Abdolhossein Mojaddami, a commander of the hardline Basij militia, who was an ally of Qassem Soleimani”
– Cui bono? [who benefits?]: not Iran, that’s for sure.

felix1999
felix1999
4 years ago
Reply to  DemocracyRules

From your link – (good news)

IRNA said that Abdolhossein Mojaddami, a Basij commander in the city of Darkhovin in the southwestern province of Khuzestan, was shot on Tuesday in front of his home by two men riding a motorcycle.

Halal Bacon
Halal Bacon
4 years ago

meanwhile the libtards are performing the ultimate in protectionism in the Senate

Suresh
Suresh
4 years ago
Reply to  Halal Bacon

Some companies made profit but that does not explain the abnormal high stock prices as P/E ratio is abnormally high

And FED is doing hidden QE and the excess printed money is moving to stock prices. Auto loans are given to those who do not even have means of paying for it and its 10 year loan !

Something seriously amiss and can lead to another recessionary collapse .

felix1999
felix1999
4 years ago

THIS is how it used to be…. before President Trump.
See why globalists and the elite HATE him?
YOU are not supposed to benefit – only Wall Street with CHEAP LABOR while you are replaced and languish. The last thing the elites want is a MIDDLE CLASS!

http://static1.1.sqspcdn.com/static/f/303385/7154014/1294687118947/wall_street_bonuses.jpg?token=DLLC8k9aFx2FGYHp99JuhZfzVYA%3D

scherado
scherado
4 years ago

…Democrat candidates hardest hit,

joe shmoe
joe shmoe
4 years ago

be careful with stocks… the virus in china is spreading and could cause a pandemic. media will blame trump of course

John Acord
John Acord
4 years ago

Illegal, much legal immigration and their children suck TWO TRILLION 500 BILLION out of he economy annually. That’s enough to restore our middle class to prosperity. Let’s Do it now!

AR154U☑ᵀʳᵘᵐᵖ DEPLORABLE 2020
AR154U☑ᵀʳᵘᵐᵖ DEPLORABLE 2020
4 years ago

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