Every day when the stock market closes we update our clients and subscribers about the important or interesting things that moved the stock market and your retirement investments. We leave the opinion out…mostly. Our goal is to educate briefly on what moved the stock markets, what may be coming up, and how your investments, or retirement portfolio may have been impacted by the day’s news.
Here’s a look at what investors were focused on today:
The markets surged higher today in an attempt to recover some of yesterday’s declines. The Dow 30 was higher by 401, the S&P 500 added 49, and the Nasdaq 100 closed higher on the day by 209. Earnings after hours are all tech driven which could help fuel this recovery attempt.
The technology sector saw one of the bigger attempts to recover today ahead of a laundry list of tech names to report earnings after the close. Technical traders note that the sector is still under the 200 day moving average as well as in a confirmed downtrend.
Consumer discretionary stocks were also a strong sector today thanks to strong moves in names like Amazon (NASDAQ: AMZN) and the bulk of the leaders in the sector. The sector still remains under the 200 day moving average and is lower by 10% from all time highs.
Tesla (NASDAQ: TSLA) shares were higher today on the release of their historic quarter. The company reported earnings of .90 per share with analysts expecting a loss of .19 a share. The stock pushed above the 200 day moving average for the first time since August as the company reported higher revenue thanks to the increased production of their Model 3.
Twitter (NASDAQ: TWTR) shares were sharply higher today as the company announced earnings and revenue that came in higher than expected. Monthly active users was the only negative which came in at 326 million. The street was expecting 330 million. Technical traders will note the move today stopped right at the 200 day moving average.
American Airlines (NYSE: AAL) shares were sharply higher today as well following their earnings release which showed record revenue. The main focus by investors today was the comment from the company that said their profit margin would be higher for the current quarter would be higher than expected.
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