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 13.81 0.07 0.51 12,132

Comments

Emerging Growth

NXT-ID Inc.

Nxt-ID Inc provides products, solutions, and services that have a need for biometric secure access control. Its lines of business include mobile commerce; law enforcement and biometric access control applications…

Private Markets

GoCoin

Blockchain currencies (e.g. Bitcoin) provide a new disruptive way to transfer value between parties over the internet as opposed to going through banks. GoCoin provides online merchants with a suite…

D-Wave

D-Wave Systems is the first quantum computing company. Its mission is to integrate new discoveries in physics, engineering, manufacturing, and computer science into breakthrough approaches to computation to help solve…