Equities Market Recap: Stocks Surge on Earnings News

Brittney Barrett  |

Strong first-quarter earnings reports and another dip in the dollar led all three US indexes to soar in trading today, erasing losses endured earlier in the week. At close, the Dow Jones Industrial Average was up 186.79 points of 1.52 percent to its highest level since June 2008. The S&P 500 was also higher for the day, climbing 17.74 points or 1.35 percent. The Nasdaq, led by surging tech stocks added 57.54 points or 2.10 percent.

Stocks jumped higher from the sounding of the morning bell when Intel Corp. (NASDAQ:INTL) surged 6 percent in early trading on reports that first quarter earnings were up 29 percent. On the Dow, United Technologies Corp added $5.54, or 4.3 percent on positive quarterly reports and a revised annual forecast. Apple (NASDAQ: AAPL) also tacked on 1.35 percent.

Johnson & Johnson (NYSE: JNG) added 2.7 percent, adding onto what seems to be the beginning of a rally.

The dollar weakness added to international interest today, giving foreign investors more incentive to buy U.S. stocks.  It also added to higher commodities and a return in oil prices to $111.45 a barrel.

Also up for the day, was TiVo,(NASDAQ: TIVO) adding close to 30 percent and off road vehicle engineer and manufacturers Polaris Industries Inc. (NYSE: PII), up20.95 percent.

 

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Companies

Symbol Name Price Change % Volume
BGSF BG Staffing Inc 22.62 0.24 1.07 35,155

Comments

Watchlist

Symbol Last Price Change % Change
AAPL

     
AMZN

     
HD

     
JPM

     
IBM

     
BA

     
WMT

     
DIS

     
XOM

     

Can the Media Solve the Partisan Conflict?

Andrew McCarthy, Contributing Editor, The National Review; Michael Zeldin, CNN Legal Analyst; Celeste Katz, Senior Political Reporter, Glamour; Silvia Davi, SVP, Contributing Editor, Equities.com; and Doug Simon, CEO, D S Simon Media discuss how the media’s role has shaped the landscape for communicators and what the media is trying to do to reduce discord in society.

Emerging Growth

Margaux Resources Ltd.

Margaux Resources Ltd is a Calgary based resource company. The Company is focused on its Jersey Emeral Tungsten-Zinc property located in the southeast portion of British Columbia.