Indices Rise to New Highs, Boosted by GOOG Earnings
Stocks are off to a positive start, boosted by
strong earnings, in particular from Google
(
GOOG |
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PowerRating). Google’s Q1
profit surged to $1bln., a 69% improvement on a year ago.
The Dow is currently trading higher by 119 points, the S&P 500 is +11.29, and
the NASDAQ Composite is +20.46.
Among the other stocks reporting strong results were: Caterpillar
(
CAT |
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PowerRating),
Schlumberger
(
SLB |
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Chart |
News |
PowerRating), Honeywell
(
HON |
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Chart |
News |
PowerRating), Xerox
(
XRX |
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PowerRating),
and McDonald’s
(
MCD |
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PowerRating).
Advanced Micro Devices
(
AMD |
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Chart |
News |
PowerRating) was the exception, reporting disappointing
numbers after the close on Thursday.
For more stocks to watch, see
TradingMarkets 7 Trading Ideas for Today.
Friday’s
PowerRatings Heat Map is showing signs of improvement, although the bias
remains slightly bearish with more red than green on display. The Energy and
Drugs sectors are currently showing the largest concentration of high
PowerRatings stocks.
PowerRating Heat Map: Energy
Meanwhile, the Banking, Materials & Construction,
and Electronics sector are among the sectors showing the most potential for
weakness.
Overall, there are only nine stocks with PowerRatings of 9, and no 10’s, as
shown below in today’s featured
PowerRatings list.
PowerRatings 9’s and 10’s:
For a free PowerRatings trial,
click here. If
you have any questions about PowerRatings or the new Stock Indicators please
feel free to email us or call 213-955-5858 ext 1.
Ashton Dorkins
Editor-in-Chief
Reminder: We are in no
way recommending the purchase or short sale of these stocks. This article is
intended for education purposes only. Trading should be based on your own
understanding of market conditions, price patterns and risk; our information is
designed to contribute to your understanding.