Stocks slightly declined Tuesday after the first reported case in the U.S. of a dangerous pneumonialike virus that originated in central China. The Dow Jones index was also weighed down by a slide in shares of Boeing, which dropped 3.3%. The aerospace giant said it expects its 737 MAX jet will be grounded through mid-2020, following last year’s fatal crashes.
The S&P500 bottommed at 666 on March 6, 2009. The index now is almost at 3333, which signifies a 5X increase in the last 11 years. Prior to this multi year rally, the S&P500 went through 2 bear markets: in 2000-2002 and 2007-2009.
The major indexes continued to rise despite the fact that the job openings fell 10.8% in November from a year earlier to 6.8 million, the Labor Department said Friday. November’s job openings decline could be a sign of weakening employer demand that could restrain job growth in 2020.
The rally that started in October last year has made everyone a bull. The equity put / call ratio (its 20d MA) is now at the level seen only 4 others times in the last 16 years. There are two conclusions: 1) odds of a correction are growing with every tick higher, 2) every correction led to higher prices eventually.
Alcoa Corp. (AA) posted a fourth-quarter loss as sales fell 27%. With exposure to automotive manufacturers, makers of food cans and a host of other manufacturers, Alcoa is considered a bellwether. The company struggled in 2019 amid trade battles, weaker industrial activity in some markets and an expected slowdown in overall global economic growth.
Delta Air Lines (DAL) came out with quarterly earnings of $1.70 per share, beating the Zacks Consensus Estimate of $1.40 per share. This compares to earnings of $1.30 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 21.43%.
Every quarter I track companies that report earning surprises. Why? Because some of those stocks can produce amazing returns due to a phenomenon known as the Post Earnings Announcement Drift (PEAD). The following list of stocks reported great Q3 2019 earnings which were followed by substantial positive returns for investors who bought those stocks.
Morgan Stanley on Thursday posted record annual revenue and profit and set new financial targets higher. The firm capped off a mixed week for big U.S. banks, which reported mostly strong fourth-quarter earnings during a period marked by a Federal Reserve interest-rate cut and fierce global tensions.
U.S. stocks closed at fresh highs Thursday as investors shifted to examining corporate earnings for hints about the economy. Morgan Stanley gained 6.6% after posting strong results and lifting its financial targets. Also, economic reports showed US retail sales rose at a steady pace to close out the holiday shopping season, while weekly unemployment claims fall.
U.S. stocks rose to new highs as President Trump signed an initial trade pact with China, halting a two-year trade dispute between the world’s two largest economies. The S&P500 continued moving higher in after hour reaching 3300 for the first time ever.