The 3 major indices are closing at record levels with the Dow industrial average leading the way with a gain of 1.36%. The S&P index rose 0.5% and the NASDAQ index rose 0.72%.
Looking at the 11 S&P sectors, only energy fell and that was by -0.04%. Materials led the upside followed by healthcare and consumer discretionary:
Materials: +2.14%
Health Care: +1.73%
Consumer Discretionary: +1.70%
Real Estate: +1.68%
Financials: +1.67%
Industrials: +0.96%
Consumer Staples: +0.94%
Utilities: +0.49%
Information Technology: +0.18%
Communication Services: +0.18%
Energy: −0.04%
Some of the top gainers today included:
Paramount Skydance (PSKY): Shares surged after reports that Paramount Skydance, backed by Larry Ellison, is preparing a majority-cash bid to acquire Warner Bros Discovery. Reuters
Synopsys (SNPS): Investors cheered Synopsys on strong demand for its AI-related software tools and optimistic forward guidance.
Stellantis NV (STLA): Stellantis climbed on signs that EV demand is stabilizing, along with upbeat macro news and easing supply chain pressure.
Alibaba ADR (BABA): Alibaba rose after positive sentiment around China’s reopening and regulatory tailwinds for big tech.
Lam Research (LRCX): Lam got a boost from expectations of strong DRAM and logic demand in upcoming quarters.
Micron (MU): Micron rallied as part of the broader chip-sector rebound, helped by reports of inventory drawdowns and stronger AI server demand.
Tesla (TSLA): Tesla gained on speculation about upcoming product announcements and improved pricing leverage in key markets.
ARK Genomic Revolution (ARKG): ARKG saw gains as biotech names rallied on hopes for positive trial news and favorable regulatory developments.
Cadence Design (CDNS): Cadence moved higher with bullishness around semiconductor software tools amid rising chip investment.
Moderna (MRNA): Moderna climbed on expectations of new vaccine approvals or updates, renewed interest in mRNA technology applications.
Biogen (BIIB): Biogen was up following speculation it may report favorable news or approvals in its clinical pipeline.
ARK Innovation (ARKK): ARKK benefited from broader market risk appetite, especially from investors increasing exposure to high growth names.
Snap (SNAP): Snap popped on indications that digital ad demand might be improving after weaker recent quarters.
Celsius (CELH): Celsius rose amid better-than-expected earnings guidance or cool-energy trends supporting its category.
Ford Motor (F): Ford gained on optimism over new EV model rollouts and positive industry momentum in auto demand.
After the close still be announced earnings that beat expectations:
- EPS 5000 $0.31 versus $5.18 expected.
- Revenues 5.99 billion versus 5.90 billion estimate
moreover there outlook was raised with:
- Q4 EPS seen at $5.35 – $5.40 versus expected $5.34.
- Revenues forecast at 6.075 billion to $6.125 billion versus expectations $6.08 billion
The stock is currently trading up $21 or 5.9% at $372.50.
Technically, the 100 day moving average is at $375.72.
Recall from last quarter, the price gapped below that 100-day moving average after disappointing earnings, and has been below it since that release. Getting back above the 100-day moving average would be more bullish from a technical perspective.
