Bank Crushes Earnings, iShares Sold, Stocks Surge
The recent pessimism propagated by a few big name stock pontificators came to a screeching halt today. The market surged on news of Wells Fargo crushing first quarter earnings estimates despite the Trade Gap plunging to 9 year lows. News of Barclays selling its hugely successful ETF iShares unit further bolstered investor confidence. The DJIA soared +246.27 to 8083.38 readily breaking technical resistance at 7777 earlier and 8000 today, the Nasdaq advanced +61.88 to 1652.54 and the S&P 500 jumped ahead by +31.40 to 856.56.
SunTrust Banks
(
STI |
Quote |
Chart |
News |
PowerRating) – Surged 31.02% or $3.36 to $14.19 on the heels of Wells Fargo stellar quarter.
Movado Group
(
MOV |
Quote |
Chart |
News |
PowerRating) – The watch maker fell 6.74% or 0.56 cents to $7.75/share upon revealing it wasn’t in compliance with a credit agreement.
Nordstrom
(
JWN |
Quote |
Chart |
News |
PowerRating) – March sales declined less than expected triggering price to climb 17.35% or $3.24 to $21.91/share.
Wynn Resorts
(
WYNN |
Quote |
Chart |
News |
PowerRating) – Upgraded by Bernstein, shares climbed 9.36% or $2.59 to $30.27/share.
Oil climbed $2.86 to $52.24, Gold fell another $2.60 to $883.30 and the VIX index fell 5.97% to 36.53.
According to a recent report, eight out of ten securities traded are exchange-traded funds. Want to learn how to trade them? Click here to pre-order High Probability ETF Trading, the first quantified book of trading strategies to improve your ETF trading.
| Market Snapshot | |||||||||||||
|
| Economic News |
|||
|