U.S. Stocks Start Busy Earnings Week on Mix Note

U.S. Stocks Start Busy Earnings Week on Mix Note

82
0
SHARE

The New York Stock Exchange, back from a long weekend, turn mixed on Monday, ahead of a flurry of corporate earnings scheduled this week. The Dow Jones index fell 0.18% to 26,511 points, while the composite Nasdaq, which has 4,500 components, rose 0.22% to 8.015 pts. The S & P500 fell modestly from 0.15% to 2.461 pts.

Since the beginning of the year, the DJIA has gained 14% and the composite Nasdaq has jumped by nearly 21%. As the Q1 corporate earnings season has just started, investors are trying to find out if these accounts will be able to support further price increases in a still fragile global macroeconomic environment. A monetary policy that has become accommodating, as well as a trade agreement with China that could come in late May according to the latest rumors, are the main elements of support for the US market.

Chevron was up 1.7% with Exxon Mobil advancing 2.2% in the wake of the rise in the price of oil.

Medidata Solutions climbed 14.1% on reports that the company could be a target for the French group Dassault Systèmes.

Akorn jumped 8% after obtaining approval for marketing a first generic Lotemax, an eye treatment of Bausch Health Companies, and an over-the-counter version of the Fluticare nasal spray. For Raymond James, it is a “rare good news” for this stock which has fallen sharply since the German Fresenius gave up buying the laboratory for $4.9 billion last year.

Kimberly-Clark picks up 5.4% after posting better-than-expected earnings and sales for the first quarter.

Boeing loses 1.3% in reaction to a ‘New York Times’ article reporting negligence at the 787 Dreamliner assembly plant in South Carolina. The aircraft manufacturer, which will publish its results Wednesday, rejected the accusations and described the article as “biased”.

Tesla dropped 3.8% after the Chinese social network Weibo broadcast a video showing a ‘Model S’ that exploded on a Shanghai car park. The electric car manufacturer has announced the dispatch of a team on the spot.

Evercore ISI has also lowered its advice on Tesla, from sell to hold, highlighting the decline in demand for its models S and X.

Pinterest climbs to $25 after a jump of 28% Thursday for its first day of listing. The initial price was $19 each.

SHARE
Previous articleOil Gets All The Attention
Next articleAmazon closing online store in China for tough competition by local rivals
I am an independent trader currency and commodity with about eight years of experience. I love the financial world because it is like one big puzzle and I hope we help each other out to solve the puzzle to help us realize our dreams. I received my BBA in Accounting (With Honors) - from The University of Texas - San Antonio. Achievements: Beta Alpha Psi National Accounting Honors Fraternity member, Leadership Challenge Participant, Dean's List. I have passed the Series 63, 22, Texas Real Estate exam, and the DRI Business Continuity exam.

NO COMMENTS

LEAVE A REPLY