Tech Earnings Beat Expectations and the World Economic Forum Convenes: Market Recap
The markets were off to a mixed start on Tuesday morning after a long weekend, but found their legs in the afternoon. Positive expectations for tech earnings this week helped pull the NASDAQ into late gains.
At the close: DJIA: +0.46%, S&P 500: +0.44%, NASDAQ: +0.27%.
On the commodities front, Oil (NYSE:USO) climbed o.64 percent to $96.65 per barrel. Precious metals were also up, with Gold (NYSE:GLD) climbing 0.27 percent to $1,691.70 per ounce, and Silver (NYSE:SLV) climbing 0.93 percent to $32.23 per ounce. The yield for the 10-year T-bill fell 0.003 points to 1.839 percent.
Here’s your Cheat Sheet to today’s top stock stories:
Google (NASDAQ:GOOG) released fourth-quarter results that sent its shares up 4.5 percent in after-hours trading. Consolidated revenues climbed 36 percent to $14.42 billion. Total clicks climbed 24 percent, but average cost per click fell 6 percent… (Read more.)
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Apple’s (NASDAQ:AAPL) December quarter earnings, scheduled to be released tomorrow after the bell, are being seen as the most important in several years for the company. After all, the iPhone maker’s stock has been under considerable distress over the past few months on investor concerns about its long-term growth prospects. To add to the pressure, there have been recent reports claiming decreased iPhone and iPad demand in the ongoing quarter… (Read more.)
Shares of Boeing (NYSE:BA) shed about 1.2 percent on Tuesday after a long market weekend filled investors with pessimism. Battery issues with the 787 Dreamliner remain unsolved, meaning fleets around the world are grounded until at least the end of January. Shares of Boeing are off 2.6 percent since the New Year, and the cost to carriers is also building… (Read more.)
The World Economic Forum’s five-day annual meeting began on Tuesday. Heading into the event, founder and executive chairman of the forum, Professor Klaus Schwab, commented on the meeting’s theme, which is resilient dynamism.
“To stem today’s spiral of pessimism and avoid the burnout of crisis management, we must look at the future in a much more positive, constructive, and dynamic manner, gaining the resilience to adapt to changing contexts, withstand sudden shocks, and recover from them while still pursuing critical goals,” said Schwab in a statement… (Read more.)
Don’t Miss: These 5 Stocks Beat Earnings 90% of the Time.