Wall Street opens at record on strong earnings

Wall Street opens at record on strong earnings

USA stock-index benchmarks on Wednesday finished modestly higher, with all three gauges recording all-time highs, supported by better-than-expected corporate results, and as the Federal Reserve offered an update to its monetary-policy outlook.

They are not expected to raise rates, but their comments will be analysed for any clues about the timing of future interest rate increases.

The S&P 500 index eked out a meager 0.70 point rise to end at 2,477.83, with telecoms climbing 3% on the back of stronger-than-expected earnings from AT&T.

With equity markets at record levels, investors have been counting on strong earnings to justify the relatively expensive valuations for stocks.

At 9:36am ET (1336 GMT), the Dow Jones Industrial Average was up 95.55 points, or 0.44%, at 21 708.98 and the S&P 500 was up 2.24 points, or 0.09%, at 2 479.37. Among blue-chip companies, Boeing shares (BA) jumped more than 8%, powering the benchmark into record territory.

Materials, healthcare and financials were the main laggards on Wednesday.

"The market is right to be driven by earnings and so far we've had enough upside surprises".

Curtis Granderson is starting in right field for the Mets
Minor league reliever Drew Smith is coming to Queens from the Rays in a deal that sent slugger Lucas Duda out of town. Tampa Bay is in the AL playoff picture, as it is 2.5 games behind the Boston Red Sox for first in the AL East.

"A number of major companies have stepped up to meet the challenge this quarter, beating the Street handily to provide fundamental support to the market rally", said Colin Cieszynski, chief market strategist at CMC Markets, in a note.

ANALYST VIEWPOINT: "The theme remains with earnings, propelling markets once again to fresh highs within the US while the Federal Open Market Committee (FOMC) meeting conclusion overnight provided another relief for equity markets". A rise of nearly 1% in the early going (http://www.marketwatch.com/story/oil-rally-continues-as-optimism-builds-ahead-us-supply-data-2017-07-26) looks to stretch crude's week-to-date gain to about 5%. Treasury yields took a modest step backward as the Federal Reserve prepares to wrap up a two-day meeting on interest rates, which most investors expect to be uneventful.

Economic docket: The Commerce Department said new-home sales in June came in at a 610,000 annual pace, a pickup of 0.8% from downwardly revised May data. Visit MarketWatch.com for more information on this news. Separately, AT&T Inc., Chipotle Mexican Grill Inc., and Advanced Micro Devices Inc. all rallied following their results.

Ford Motor fell 1.9 percent after the automaker warned that its full-year automotive operating margin and cash flow would be lower than in 2016.

Ford shares fell 2.5% in morning trading, after the U.S. carmaker reported almost flat revenues for the quarter and warned investors that key markets, including North America and Europe, would be less profitable this year than last.

Insurer Anthem Inc.(ANTM) shares slid 2.9% as quarterly earnings came in above expectations, but revenue fell short.

Facebook Inc.'s (FB) release is on tap after the market's close Wednesday. It closed at a record Tuesday, along with several other indexes of US stocks. Gold futures settled lower, but jumped in electronic trade, and a key dollar index reversed course to fall 0.2% following the Fed decision.

Related News:

  • Chipotle Mexican Grill, Inc. (CMG) Receives Equal Weight Rating from Barclays PLC

    Chipotle Mexican Grill, Inc. (CMG) Receives Equal Weight Rating from Barclays PLC

    On Thursday, May 11 the stock rating was downgraded by Berenberg to "Hold". (NYSE:CMG) on Tuesday, July 11 with "Hold" rating. Van ECK Associates Corp increased its stake in Chipotle Mexican Grill by 6.7% in the first quarter. (NYSE:CMG) for 13 shares.
    USA  moves step closer to new Russian Federation  sanctions

    USA moves step closer to new Russian Federation sanctions

    Some Trump administration officials objected to a provision that would allow Congress the power to veto the president if Mr. The Kremlin's spokesman Dmitry Peskov said Monday that the threat of more sanctions damages both Russian and US interests.
    Tyler Saladino in the White Sox' lineup against the Cubs

    Tyler Saladino in the White Sox' lineup against the Cubs

    Schwarber was hitting just.168 on July 6, but that batting average has crept its way up to.191 with Thursday's three-hit showing. Chicago White Sox infielder Tyler Saladino is in the starting lineup for Thursday's home game against the Chicago Cubs .
  • Heavy rain likely on Thursday in central Indiana

    Heavy rain likely on Thursday in central Indiana

    And lucky for us, that means a splendid forecast heading into the final weekend of the month! Highs in the lower 80s. Rest of Today: A chance for scattered showers and thunderstorms otherwise partly cloudy with highs in the mid 90s.
    Amazon's Jeff Bezos surpasses Bill Gates as world's wealthiest person

    Amazon's Jeff Bezos surpasses Bill Gates as world's wealthiest person

    AWS posted operating income of $916 million this most recent quarter, a 28 percent jump from a year ago, on sales of $4.1 billion. The latter has a net worth of around $90.7 billion and has been at the top of Bloomberg's rich list since 2013.
    Big-spending Milan beats Craiova; Rooney quiet for Everton

    Big-spending Milan beats Craiova; Rooney quiet for Everton

    Everton start their Europa League campaign tomorrow with a home game against Slovakian side Ružomberok. I know we can play better but it's important to win and get the clean sheet.
  • Rep. Pete Sessions: Wall a 'Direct Request From Border Patrol'

    Democrats there have vowed to filibuster any spending bills that fund Trump's border wall. Missile defence would also gain 14 more THAAD interceptors made by Lockheed Martin Co.
    Japan defence minister quits amid plunging support for PM

    Japan defence minister quits amid plunging support for PM

    Inada's short term as defense minister tested her reputation as a hawkish figure in Japanese politics. The main opposition Democratic Party, however, has failed to capitalise on Abe's troubles.
    Mumaith Khan Surprised SIT Officers

    Mumaith Khan Surprised SIT Officers

    Mumaith reportedly volunteered to give samples of body fluid, hair and nails but SIT officials said the same was not required. The high court, however, directed the SIT to question her in the presence of women officers between 10 am and 5 pm.
  • Jeff Bezos Is Officially the Richest Person in the World

    Jeff Bezos Is Officially the Richest Person in the World

    The drop in Amazon profits is reportedly due to investment in new areas within its business and worldwide expansion. Analysts surveyed by Zacks investment Research were expecting earnings of $1.40 per share on revenue.
    Analysts Anticipate PulteGroup, Inc

    Analysts Anticipate PulteGroup, Inc

    On 5/3/2017 announced a quarterly dividend of $0.09 1.62% with an ex dividend date of 6/6/2017 which will be payable on 6/8/2017. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website .
    Israel removes flashpoint metal detectors at Jerusalem holy site

    Israel removes flashpoint metal detectors at Jerusalem holy site

    One of the victims, the 16-year-old who had attacked the Israeli with a screwdriver, was buried Tuesday in Amman. The fate of the shrine is an emotional issue at the heart of the conflict between Israel and the Palestinians.


Most liked

Bed Bath & Beyond Inc. (BBBY) stock price of $28.50
This change led market cap to move at $4.27B, putting the price -40.12% below the 52-week high and 3.95% above the 52-week low. Analysts are also projecting an Average Revenue Estimate for Bed Bath & Beyond Inc.as $3.01 Million in the Current Quarter.

Ford Celebrates 100 Years of Truck History
Ford sold 1.3 million Model TTs before replacing the truck with the more capable 1.5-ton chassis Model AA in 1928. Over the years, their trucks have also become less utilitarian in design, and are now a lifestyle symbol.

JaVale McGee Re-Signs With Golden State Warriors
ESPN's Ian Begley has reported that Antonius Cleveland has agreed to a training camp deal with the Golden State Warriors . This signing would put the roster at 15 players, making this the last signing of the summer for the organization.

Rose signs 1-year, $2.1 million contract with Cavaliers
If healthy, Rose is a dynamic scorer capable of taking over a game, and paired with LeBron James , he could be even more risky . He's a smart kid, understands, works hard.

Senators prepare bill to block Donald Trump from firing special counsel
Adam Schiff of California, the top Democrat on the House Intelligence Committee, said Sunday on CBS' Face the Nation . That role has been given to John Dowd, a veteran Washington defense lawyer who joined the team in June.

AMD launches Ryzen 3 series of desktop processors
When running Grand Theft Auto V at 1080p at very high settings, the Ryzen 3 1300X produced 75.1 fps when paired with the GTX 1080. AMD has launched the last of its three mainstream lines of Ryzen CPUs with the release of the low-end Ryzen 3 microprocessor.

Sanjay Dutt Might Have To Return To Jail…
On July 31, 2007, the TADA court in Mumbai sentenced him to six years rigorous imprisonment under the Arms Act and imposed a fine of Rs 25 ,000.

Brother defends teacher struck off for sex on plane with pupil
A teacher who got drunk and had unprotected sex with a student on a plane has been dismissed from her profession indefinitely. She was found guilty of unacceptable professional conduct and bringing the profession into disrepute and banned from teaching.

Woman who yelled at Muslims hugs 1 of them
A Somalian-American male was assaulted by two white men while moving into his new apartment in Moorhead, police said. She alleges that Hassan parked her auto "way too close" to hers, preventing her from getting in her vehicle.

Most Americans have no idea who's leading the DOJ's Russian Federation investigation
But given Trump's extraordinary comments, Sessions has to do more than merely recite platitudes about how much he loves his job. And be confident that Trump will not only refuse to take the hint, but will embark on another round of self-inflicted wounds.

Trump raises corruption allegations against FBI's McCabe
As Nick Ackerman, one of the Watergate prosecutors, said earlier this week, "Everything this president has done cries out guilt". President Donald Trump isn't letting up on his Twitter criticism of Attorney General Jeff Sessions .

JP Morgan Chase & Co (NYSE:JPM) closed with a change of -0.94%
This ratio also gives some idea of whether you're paying too much for what would be left if the company went bankrupt immediately. Analysts reviewing J P Morgan Chase & Co have recently updated their recommended buy/sell ratings and price targets on the stock.

Israeli Authorities Remove Remaining Security Measures at al-Aqsa
McMaster and the National Security Council, have been and will remain engaged as we continue to monitor the situation closely". Netanyahu said on Wednesday he would work to shut the network's office, accusing it of inciting recent violence in Jerusalem .

Burning Stock on the move: Cliffs Natural Resources Inc. (CLF)
Also, Chairman Lourenco Goncalves purchased 200,000 shares of the firm's stock in a transaction on Wednesday, May 3rd. On Wednesday, May 3 BALDWIN JOHN T bought $37,902 worth of Cliffs Natural Resources Inc (NYSE:CLF) or 6,000 shares.

Analysts Recommendations Electronic Arts Inc. (EA)
Sumitomo Mitsui Asset Management Company Ltd increased Electronic Arts Inc (EA ) stake by 297.39% reported in 2016Q4 SEC filing. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink .